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Phil Hall
Phil Hall
Jun 11, 2020
News

Verification Required for Businesses on Ultra

Blockchain-powered game distribution platform Ultra is implementing a verification process named Know-Your-Business.
Verification Required for Businesses on Ultra

Blockchain-powered game distribution platform Ultra is implementing a verification process named Know-Your-Business. This KYB process requires every game developer to validate their existence and the content they are putting on Ultra. This way the distribution platform only wants to allow games that are ‘safe and working properly’.

Without going through the verification process, a developer isn’t capable of publishing a smart contract onto Ultra. This means that only approved companies can create a smart contract. In addition, thanks to the verification Ultra will know who to contact when something goes wrong with a smart contract. However, this is not what most users will notice.

At the center of the Ultra platform is the Ultra Store and client. This is where developers will be selling their games, while gamers get to browse and buy. According to the latest development update this is what the team has been working on the most. They want the user experience to be as smooth as possible.

Technical background

However, it’s just as important that developers are capable of offering their creations. Through the Game Developer Center they can manage their games, additional content, updates and so on. In addition they can assign permissions to company members, they can define the way their store page looks, and they can manage awards they have received for their games.

After uploading a game through the Game Developer Center, game companies need to tokenize their creations. Each non-fungible token can be distributed, traded or sold in the store. When a gamer buys a game, they actually buy this token and add it to their wallet. The token is a contract for using the game, similar to the way a game in your Steam Library works. However, gamers can sell tokens to other players. In essence this allows for digital limited editions from games, or downloadable content with limited supply. Ultra is working on a whole lot more. They have a wallet in development, and an authenticator to confirm transactions.

Developers can make money from resale

By using Ultra developers are able to upload game builds and create the rules through which these games are sold and distributed. Developers decide on the most efficient way to distribute games to their fans. They earn revenue from every sale without delay, and compared with other distribution platforms, the fees are quite low.

Ultra lets developers customize several parameters, like for example the option to allow secondary market trading. Developers also have the power to decide when to allow reselling, for how long, and the revenue cut they want on this resale. All these settings get stored into a token, which goes on sale in the Ultra store. In addition developers control the region in which builds are available. They can set a maximum amount of copies allowed for sale. This can create an interesting revenue opportunity when developers for example release limited edition downloadable content.

Already 150 companies involved

Ultra hasn’t only been developing, but they’ve also been testing their software. Over 150 companies have been trying their game distribution platform during a closed beta. Whether every studio involved in the closed beta will also launch their products on Ultra, remains to be seen. Ubisoft officially announced their involvement as a business partner in November. At the same time we’ve seen Amplitude Studios featured in many promotional screenshots, while Ultra teased the involvement of a Chinese company in a blog post.

In December computer hardware manufacturer AMD partnered with blockchain-based video game distribution platform Ultra. The two companies will cooperate on the marketing activities, including contests and events to promote the use of Ultra.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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