Traditional gaming is very big business. A huge portion of gaming revenue models are baked into the games in the form of in-game currency and items that gamers can purchase using fiat on company websites and through the AppStore and PlayStore. The Dexioprotocol gaming ecosystem is no different. We have our in-game currency DexiCash which is used for a wide range of utility within the gaming ecosystem that can be purchased directly through our website.
Additionally, we have developed the Reward Redemption System for users to be able to redeem and have sent their collected or earned crypto & NFT assets. In the future, the system will require that a user who wishes to have an NFT or crypto asset sent to them that they have collected in DexiHunter or earned in any of the other games, must first pass a KYC/AML (Know Your Customer/Anti-Money Laundering) screening. After a successful pass of the KYC/AML process, the user is awarded with 10 FREE Reward Redemptions. They can also refer people using their referral code and earn 5 FREE redemptions for every person they refer that successfully passes KYC/AML. In order to obtain more Reward Redemptions, a user must either subscribe monthly or purchase a bulk package.
We understand that many “crypto purists” and skeptical crypto enthusiasts will see this process as a violation of the ethos of decentralization and anonymity.
But the fact of the matter is that regulations which will carry these types of requirements are coming down whether people like it or not. As a US based corporation, we are also subject to the Office of Foreign Assets Control (OFAC) compliance. US incorporated entities must comply with OFAC or face substantial fines and potentially criminal offenses. We are not making a stand on the issue in terms of philosophical or ideological beliefs. We are making a stand on the issue from a simple business perspective. We can not distribute commodities/assets that maintain value to users without tracking what those commodities/ assets are and who we sent them to. Our mission is adoption, utility, and sustainability. Whether we like it or not (again, we are not making an ideological stand here), in order to facilitate mass adoption and ensure long-term sustainability we must deal with the realities of the coming and existing regulations.