Thursday, January 24, 2019

Mythical Games, EOS Lynx & Scatter launch ‘dGoods standard’ to set a benchmark for virtual items on the EOS Blockchain

Mythical Games has teamed up with EOS Lynx and Scatter on the dGoods standard to set a virtual items benchmark on the EOS Blockchain.

Mythical Games announced today that it is leading an industry-wide collaboration with key blockchain firms such as EOS Lynx and Scatter to develop a robust standard for the “fast-growing global marketplace of digital assets between creators, consumers, and studios.”

The result of the collaboration, Distributed/Digital Goods or dGoods for short was created to move towards a commercially-backed benchmark for the creation, management, and distribution of digital products.

Mythical Games is a game technology studio headquartered in Los Angeles and working towards building major game IPs and a digital ecosystem revolving around player-owned economies.

dGoods presents a watershed moment for the industry

Fred Krueger, the CEO of Workcoin (EOS Lynx) expressed excitement for working with Mythical Games and other firms to create a new standard that presents a watershed moment for blockchain-based games and applications.

Kruger said:

“EOS Lynx is thrilled to be working with Mythical Games, Scatter and the EOS community to help build the first in-wallet standard for digital goods.”

Then further added that:

“This is a watershed moment for blockchain games, coupons and ticketing applications. It will change how we think of crypto.”

Rudy Koch, Head of Blockchain at Mythical Games said digital assets are the fuel of the new economy born out of blockchain technology.

He said that hundreds of millions of digital items would be exchanged and traded in the coming years.

Koch said:

“It’s critical that we establish a meaningful digital goods standard that can support a diverse and innovative development community.”

Overview of the dGoods standard

The dGoods will be released as open source and free software and will be available to developers at a dedicated website.

It will be initially rolled for the EOS development community, but other blockchains are free to adopt it if they want.

The collaboration has rolled out the dGoods standard on the EOS blockchain with the aim of promoting and supporting an industry standard of practice as the adoption of blockchain is growing in several sectors that include gaming and entertainment.

Mythical Games secured $16 million in funding during a Series-A round led by Galaxy Digital’s EOS VC Fund last year.

EOS raised more than $4 billion in a record-breaking ICO that lasted almost a year. EOS followed up the ICO with the main network (MainNet) launch.

The dGoods standard has metadata templates for 3d and 2d assets such as a game, coupon, music file, piece of art, tickets, etc.

Part of the standard involves specifying templates for metadata depending on the type of digital good in use.

The standard is built with the idea that digital assets need Certificates of Authenticity in the same way that physical real-world objects do.

dGoods has the ability to have immutable fields (as expected from a blockchain initiative) to denote the attributes that describe the certificate of authenticity.

The dGoods standard supports ‘multiple categorized tokens in one contract.’

This is different from other token standards that support one token with one contract. dGoods’ standard has the added benefit of reducing complexity and cost.

The new standard supports both fungible and non-fungible tokens in one contract. This is different from other standards that support only one token type.

The press statement said:

“The dGoods standard will have the benefit of defining sub-tokens within one contract, giving the developer the freedom to make some of them fungible and others non-fungible.”

Mythical Games, EOS Lynx & Scatter launch ‘dGoods standard’ to set a benchmark for virtual items on the EOS Blockchain was originally found on Cryptocurrency News | Blockchain News | Bitcoin News |

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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