Kronoverse rebrands as FYX, opens eSports platform running on Bitcoin blockchain

Kronoverse, the e-gaming company best known in the Bitcoin world for creating CryptoFights, has rebranded and built a new platform called FYX. FYX uses the Bitcoin SV (BSV) blockchain for players’ game records and cash rewards, and says it has created a unique experience with advantages for both players and developers.

FYX will launch initially in 41 US states later in 2021, and CryptoFights will be the first game it showcases. The company is currently inviting interested game/eSports developers to sign up and create entirely new games, or port their existing ones over to the platform. It’s preparing to support games both from independent developers, or large existing companies with well-known titles.

Speaking to CoinGeek, founder and CEO Adam Kling said FYX will have an SDK and APIs that developers can integrate into their games without needing much blockchain knowledge, or re-working much of their code.

“A developer should not need any extra skill to make it work,” he said. “The team is excited to put a new face to the company and launch CryptoFights in the very near future!”

Kling has long touted the benefits of blockchain records for added integrity in eSports. Player cheating has so far been difficult to combat and (when money is at stake) players also need assurance the games themselves are fair. FYX will use the BSV blockchain to verify players’ identities, facilitate tokenized fiat currency payments for games and players, and store all match data. Players can return to any game they’ve played and review all moves and details—including on-demand replays and advanced data analytics.

The system used to tokenize fiat currencies and game items was built in-house, Kling added.

From Ethereum to BSV

CryptoFights has undergone a series of private beta tests since late 2019, making big improvements to the gameplay and overall user experience each time.

When Kronoverse started up three years ago, the team had initially planned to use Ethereum for its transactions and records, but soon found it unwieldy and switched to Bitcoin BSV once it became available and its capabilities became better-known. FYX will be able to write game data to the blockchain in real-time and store it forever for players (and game creators) to review.

The company’s press release stated: “(Bitcoin SV) provides a massively scaled network capable of handling huge volumes of payment and data transaction throughput at a predictably low cost required by enterprise-grade blockchain applications.”

Players competing in ranked eSports matches or cash games on FYX will be required to complete full KYC/AML procedures, meaning their gaming identities will be linked to real-world ones. If any cheating, illegal or anti-competitive behavior occurs, the Bitcoin blockchain provides a full auditable record of what happened.

FYX also announced its advisory board will include Ron Chaimowitz, former chairman and CEO of GT Interactive Software (publisher of games like Doom, Duke Nukem, Unreal Tournament and Quake), and Richard Roberts, former CEO of Slingo (creator of #1 mobile games with over 45 million monthly active users).

See also: CoinGeek Live panel, Esport & Advantages of a Massively Scalable Blockchain