Feb 8 / 2019
Latest News / Blockchain news
katy micallef
Posted by: Katy Micallef

Top executives launch Planet Digital Partners

Planet Digital’s Security Token Offering will be fuelled by The ERC-20 Rocket Token

On January 17th, 2019, in Miami, Florida, top former executives from Playstation, Take 2/Rockstar and Guitar Hero announced the creation of Planet Digital Partners Inc.

Planet Digital’s Security Token Offering will be fuelled by The ERC-20 Rocket Token™ (RKT), rewarding investors proportionately with the growth of Planet Digital Game Sales.  This will democratise game funding for investors, publishers and developers and provide distribution for its portfolio of games – including Cabela’s ‘The Hunt,’ Cooking Mama, and Bass Pro ‘The Strike.’

ai blockchain malta Top executives launch Planet Digital Partners
Top former executives from Playstation, Take 2/Rockstar and Guitar Hero have announced the creation of Planet Digital Partners Inc.

RKT Tokens will be tied to the sale of every game, and as more games are released, token holders will continue to recognise profits from the library of games. RKTs are limited to $38 million at the launch price of $1, with RKT partners receiving 80 percent of net profits until 100 percent recouped, with 40 percent of net profits thereafter and 5 percent of any sequels with no investment obligation.

“Security Token Offerings represent a unique path to democratise investment and allow investors to participate in profit on the ground floor compared to public stocks,” said Steve Grossman, CEO of Planet Digital. “We’re thrilled to bring blockchain to our games and deliver compelling new experiences to gamers that were previously impossible.”

The Planet Digital games will be available on all major platforms including PlayStation 4, Xbox One, Nintendo Switch, PC, and Mobile. 2019 launch titles represent a sales history of more than $300 million.

The video game industry represents a $135 billion-dollar business and is projected to exceed $180 billion globally by 2022 (Newzoo).

“We get most excited about working with veteran management teams that are applying blockchain to innovate in their industry,” said Alan McGlade, co-founder and COO of series One, a Planet Digital partner and broker. “Planet Digital defines that category.”

Planet Digital Partners (PDP) is a collective of video game management, development studios, distribution and marketing executives that develops, manufactures, and markets video games. Founders include the former PlayStation Europe President, the founder of Take 2/Grand Theft Auto, the former CEO of Guitar Hero and studios like Saber Interactive – developers of Halo, Quake, and NBA Playgrounds.

These games will cover all major platforms including PlayStation 4, Xbox One, Nintendo Switch, PC and Mobile. PDP’s Security Token Offering, the Rocket Token™ (RKT) rewards investors, proportionately with the growth of Planet Digital Game Sales. Rocket Tokens will be tied to the sale of up to 10 games. As more games are released, token holders will continue to recognise profits from the library of games. Rocket Tokens are limited to $38 million at the launch price of $1. RKT partners will receive 80 percent of net profits until 100 percent recouped, with 40 percent of net profits thereafter and 5 percent of any sequels with no investment obligation thru 2025.

The video game industry is booming, representing a $135 billion business. Despite the game industry’s rapid growth, there are segments that encounter considerable difficulty attracting investment. This problem stems largely from the way the industry has consolidated and organised itself in recent years, as large game publishers focus on games with sales of $250+ million. PDP connects investors to mid-market games offering a greater degree of equity through a securitized token and will focus on game sales of $50+ million with costs of $10 million or less.

Article by Gerald Fenech.

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