Micropayment gaming application Play with Haste announced “the world’s first Instant Leaderboard Payout Arcade” which intends to provide a gaming and development platform atop Bitcoin SV. The leaderboard concept, where players that perform well are rewarded via Bitcoin outputs each time one fails to beat their score, took the network by storm in January 2021.
With the arcade and HST token distribution, incentives are laid out for developers to build games that implement this concept. The concept could potentially disrupt the entire gaming industry, adding native cash rewards to high scorers along with bragging rights.
In a controversial move, a fixed supply fungible token is issued to kickstart growth of this ecosystem. Players of the first two games “Haste” and “Match” are already rewarded based on the distribution schedule so those who participated early have already earned HST.
You may view your estimated token balance by signing in to your account and heading to the token section of the menu. Beta users with gameplays will have already earned tokens 🔥.
— Haste Arcade | Game Platform (@hastearcade) March 4, 2021
40% of the 200 million HST will be distributed to the gamers—but one does not have to be a gamer to earn, Haste game referrers earn 10% of the game player’s tokens earned in addition to 10% of their BSV spent.
3. Referrers now receive tokens from their referral's plays 🔥. Thank @liujackc for this recommendation.
(Also continue to earn BSV as well 🙌)
Hint: Take notes from @kurtwuckertjr
— Haste Arcade | Game Platform (@hastearcade) March 4, 2021
This means that no matter one’s role in the space, all can earn in this economy whether you are a gamer, developer, investor, or influencer. A common criticism of BSV is the ‘BUIDL’ meme which suggests that holders of BSV should essentially ‘learn to code’. In their whitepaper, Haste explicitly mentions even those with just ideas can earn royalties.
Given sentiment in the space, the question may arise “Why does Haste need a token?” Besides the potential utility of the token (the best of which being ‘Things unthought’) the players of the game along with referrers have a native incentive to shill Haste. The first question begs the second—why does Haste need a marketing department?
The lack of creativity and refusal to consider second order consequences of certain innovations have done as much damage to the BSV ecosystem as the LAWR narrative. Granted, the ICO phase and absurd valuations on various ERC-20 tokens have not helped but those responsible are also bound in creativity due their inability to scale. Such limitations are non-existent on Bitcoin thus one must consider what is possible with those token models on a scalable blockchain.
The incentives for users and customers to grow Haste’ company are more aligned than any government approved IPO could ever accomplish. The ability to trade this token openly in the market is the piece that brings this altogether. True token ownership and lowered barriers to entry allow all to participate, allowing value to emerge where it could not before.
Before some predictably and inevitably call ‘scam’ note that Haste was “profitable in the first week of launching” their application, as well as being successful entrepreneurs outside the digital currency space. An exit scam is unlikely with such previous success and powerful incentives established. If a company can capitalize themselves freely in this way, then the status quo method of fundraising needs to be completely re-evaluated—which is a ‘controversial’ narrative that has been pushed for some time.
VC or no VC debate is a load of dribble. Tokenize and give your project value. Let the market decide. #bsv
— B.A.R.T. (@Username_Bart) September 15, 2020
See also: CoinGeek Live presentation, Smart Contracts & Tokens on Bitcoin SV: Going Mainstream
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
