Details

Last Funding Type

Pre-seed

Last Funding Money Raised

$3.40M

Industries

Blockchain,Gaming,Software

Founded date

Jan 1, 2020

Number Of Employee

11 - 50

Operating Status

Active

Legal Name

SGM Innovation LTD

Also Known As

Snook

Snook is an online, multiplayer, Snake-like IO game… [gulp…I mean… comparing it to the old Nokia Snake is like comparing Bruce Banner to the Hulk.] It is a kill-or-be-killed, adrenaline-charged, multiplayer game that is pioneering NFT game characters. That means players’ performance directly affects the NFT face value (more about that below).

Unlike some play-to-earn NFT-gamified/NFT-infused games, in Snook the players' in-game character IS an NFT, with your skill and gameplay achievements immutably recorded on chain. This snook-NFT, your game character, as long as it does not die, can be played in future games. It also retains value as a digital asset and collectible on the secondary market.

Snook is the first game in a new NFT crypto-space – one that determines the face-value and affects the market value of NFTs through measurement of skilled "work" invested in their creation and development. It's a crypto meritocracy and similar to that thing your parents used to say: 'if you work hard and apply yourself, you'll reap the rewards'…
This merger between a relatively new, decentralized, trust-agnostic, and immutable economic paradigm and one of humanity’s most popular pass-time - gaming - is surprisingly natural and seamless. Players spend time playing. They develop skills with patience and persistence. Until today, their efforts were measured in their score, ranking and/or character evolution. Rewards were emotional and social. It felt good, and you got "street cred". However, like all economies, if one invests work/effort/energy in something, it should be possible to exchange the "fruits" of that labor with other things that also store value. Those could be money (e.g., Fiat or FT/cryptocurrencies), commodities (which are still fungible, i.e., they are the same and replacing one with another does not affect its value), or non-fungible items (e.g., NFTs). Which leads us to Snook – a game that allows players to monetize their performance and capture their unique gaming achievements in their NFTs.

Moreover, Snook makes certain achievements especially difficult to realize, allowing exceptional players to monetize their skill. As such, Snook is a steppingstone towards:
As such, Snook is a steppingstone towards:
- Curtailing inflation in the NFT market by providing a value metric that is not only based on buzz and speculation.
- Bringing the cryptocurrency and blockchain economy and ecosystem closer to mainstream economy and day-to-day transactions
- Realizing a working model for capturing the value of skill and performance

Whitepaper: https://whitepaper.snook.gg/