One of the most interesting blockchain startups is nTitle from Amsterdam. Bitcoin Magazine NL spoke to founder and CEO Peter van Grinsven about his ambitions. The past fifteen years, Van Grinsven has built up a strong reputation in digital consulting with internet company Connaxis. Peter is a specialist in building communities such as Expatica.com, a community for expats, and Guerra-creativa.com, a community for creatives. Van Grinsven: “nTitle has started to challenge existing centralised licensing models within creative industries, starting with the game industry.”
1. BM: Can you tell us more about your new project?
Peter van Grinsven: “The blockchain company is called nTitle and our mission is to create a level playing field within the game industry. nTitle is focused on giving people ownership of digital assets. For example, a few years ago, you can buy a game and then sell it without any problem. But at one point, the game was tied to the user. As a gamer you’ve played the game several times and you don’t want to play the game anymore. But you can’t resell it. We think the rightful owner of a product, the game developer, must also be able to do whatever he or she wants with that product. If game developer and gamer agree on a resell, that must be possible.”
2. BM: Is your goal to better protect the rights of independent game developers?
PvG: “When you look at the current gaming market, Steam is the monopolist with eighty percent of the market. The licenses are locked in the central database, and Steam acts like the owner of the games. They determine the playing field of both game developers and gamers. We think there’s a lot of friction in that system. Steam, for example, adds thirty percent fee to the price. We want to get rid of that. We want a decentralised system that gives the developer greater market reach and, ultimately, the gamer a lower price. The gamer must do with his product what he wants. This is a market worth 100 billion dollars per year. We focus on the independent gaming market, which is 25 billion dollars worth of paid and free games.”
3. BM: What is the utilization of the token within the business model?
PvG: “Fair question. We are working on a prototype in which the licence is registered on the blockchain. The license can then be purchased to play a game online. This will be done as soon as we have launched the public ICO.
Our model is very transparent and simple. Each developer can launch their own license kits and in-game tokens on our platform. When someone buys a license, the blockchain will automatically process the transaction. The gamers just pay in fiat. The game developers can also just receive their money in fiat.
We offer the game community a very valuable tool. When you look to the future: instead of simply transferring bitcoins, you get a transfer of digital assets via, for example, your mobile phone. So it will also be a kind of trading application. This ensures that people become economic participants rather than just consumers. According to our vision, all games will use the token model for their license and their in-game tokens. Of course, a game developer can do that himself or they can use nTitle.
Building such a platform costs a lot of money, so you can’t expect every developer to develop their own license software. Building our platform requires an investment of about 5 million dollars. Many game developers can’t afford that. In future, all games use cryptocoins, is our conviction. So there must be a player that makes that possible for them and that’s us.”
4. BM: So in the end, a lot of things can be exchanged via that blockchain?
PvG: “That’s the idea. The license is on the blockchain. You open your app on your phone, click on it and receive the QR code. Someone scans it and in the background both the money and the license are processed. If Steam develops a blockchain himself, that could of course be a potential competitor to us. They can also start working with us, but for now we are working on our own plan.”
5. BM: Who’s in your team of advisors?
PvG: “Richard van Barneveld is our advisor and strategic director of Utomik. Utomik has a kind of Netflix type subscription model, something we are interested in, and they are interested in us. We also have a number of good advisers. One of them is Anthony Eufemio, of DigixDao. Another advisor is Gavin Nicol, who worked on the HTML protocol and the HTTP protocol. In addition, we have partners supported by MME in Switzerland and Bitcoin Suisse.”
6. BM: When will you start Initial Coin Offering (ICO)?
PvG: “We make a distinction between seed investment, the private sale and the public pre-sale. The pre-sale will be announced soon. If people are interested in the pre-sale, they can already register. The website is tokensale.ntitle.network. In the second quarter of this year we have the normal token sale, the crowdsale. In addition, we have a soft cap of 4.5 million dollars and a hard cap of 18 million dollars.”
In the video interview below, CEO Peter van Grinsven of nTitle discusses the power of nTitle.
Presentation during GDC gaming event
nTitle was present at the GDC gaming event in San Francisco. Below the presentation during the event.
Profile Peter van Grinsven (1971)
Peter van Grinsven is internet entrepreneur since 1999 and successful in setting up online communities and marketplaces such as Expetica.com, an international community for expats, and Guerra Creativa, a marketplace for creatives. Since 2007, he is founder and CEO of the digital marketing company Connaxis, which employs approximately 60 people in seven countries.
Since May 2017, he is founder and CEO of nTitle, which wants to establish the licensing rights of creative content in the blockchain in order to better protect its creators against market monopolies.