In exchange for the investment, Millennium Blockchain is set to receive 10.5 million IRON tokens, which will underpin all transactions on the Robot Cache marketplace. Users may also opt-in to exchange and mine IRON.
The platform will reportedly utilize blockchain technology to enable second-hand sales of video games with the promise of higher revenue shares for publishers and developers. The first decentralized game distribution platform, Robot Cache plans to allow publishers to maintain more revenue than other platforms and ensure the ability to resell their listed products. When users are finished with a particular game, it may be sold back, with gamers gaining 25% of the initial product price back in tokens.
Millennium Blockchain chief executive officer Brandon Romanek has noted,
Robot Cache is poised to dramatically alter the landscape of the $27 billion gaming industry, and I am thrilled that Millennium can be a part of its pioneering effort to connect gaming and the Blockchain. We are fully committed to building and nurturing a leading portfolio of Blockchain-driven technology companies for the benefit of our shareholders.
Millennium Blockchain now has investments in several fast-growing sectors in the blockchain space, including video games, renewable energy and healthcare.
While Robot Cache has not yet sold equity to raise outside capital, Millennium Blockchain has acquired the right of first refusal to purchase up to 3% of the startup’s first equity round.