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Pokemon Go Maker Niantic Has New Game That Lets Players Earn Bitcoin Rewards

Niantic, the developers behind Pokemon Go, have teamed up with payment company Fold to create an augmented reality (AR) game where players can earn Bitcoins. This real-world metaverse, as the company calls it, integrates Niantic’s real-world mapping technology with the capabilities of the Fold app, and players can explore the real world around them and earn cryptocurrency rewards. .

Niantic’s AR tech has players hunting for rare creatures on Pokemon Go and battling other players. This partnership with Fold and the real-world metaverse experience that earns players Bitcoin rewards certainly seems infinitely more lucrative.

This new experience is currently available for Fold app users to play in beta and rewards can be earned in Bitcoin as well as other in-app perks. According to reports, Niantic is working to expand this experiment following Coatue’s recent $ 300 million investment.

Fold CEO Will Reeves explained in a statement that anyone can use the Fold app and called it “the easiest and funniest way to get your first piece of Bitcoin.” “For us, it has always been important to make it easy to participate in the Bitcoin economy for everyone, regardless of education or technical expertise,” Reeves said.

The experience will work just like the Pokemon Go game experience. In this case, rare creatures will be replaced with prizes that players can collect. New bounty blocks will be dropped around players at fixed 10-minute intervals and just as one would explore the physical world for Bulbasaurs and Blitzles, now you are looking for Bitcoin. Once a player manages to claim a block they earn Satoshis which are the smallest units of the Bitcoin cryptocurrency, there are other in-app rewards to be earned as well. But not everything is win-win, you can lose your Bitcoin winnings if you stumble upon a ‘poison pill’, much like the damage you would take fighting off Team Rocket grunts.

If you want to give this real world metaverse experience a chance, you have to use the Fold app. However, players do not need to have a Fold card to play. For Fold card holders, there are additional rewards and prizes to be won.

Reports state that once the game has officially launched, players will be able to redeem the Bitcoin they have earned in the game.

The use of the term metaverse by Niantic and Fold should not be confused with the metaverse that Facebook or Meta is working on. This Metaverse involves the use of virtual reality (VR) while Niantic has kept things relatively simple with AR. Niantic also doesn’t seem to plan to go down the virtual reality route with CEO and founder John Hanke blogging that Metaverse is a “dystopian nightmare.” “Nowadays, many people seem very interested in bringing this near-future vision of a virtual world to life, including some of the biggest names in tech and games. But in fact, these novels served as warnings of a dystopian future for technology gone awry, ”Hanke wrote.

“As a society, we can hope the world doesn’t become the kind of place that causes sci-fi heroes to escape into virtual space – or we can work to make sure that doesn’t happen.” not. At Niantic, we choose the latter. We believe we can use technology to take a look at the ‘reality’ of augmented reality, encouraging everyone, including ourselves, to stand up, go out and connect with the people and the world around. surrounds us. This is what we humans are born for, the result of two million years of human evolution, and therefore these are the things that make us happiest. Technology should be used to enhance these fundamental human experiences – not to replace them, ”he added.

Niantic’s emphasis on the need to “get up, walk outside, and connect with people” recently earned them a lot of criticism from Pokemon Go players. By the second half of 2020, Niantic had introduced everything. a bunch of in-game changes allowing players to continue playing while maintaining COVID-19 security protocols. Travel distances for hatching eggs have been reduced, the interaction area for Gyms and Pokestops has been increased, and more.

Earlier this year, Niantic announced that they would roll back some of these COVID-19 changes and return the game to what it was. The move drew a lot of backlash from gamers who felt it was too early to go out and explore the world with pandemic fears still hanging over most countries. While at first it seemed like Niantic wasn’t interested in listening to what the players had to say, he eventually succumbed and said he wasn’t going to reverse the changes.

Since Niantic and Fold’s new metaverse also works on the same premise as Pokemon Go, it remains to be seen how players and Fold users get used to the concept of walking around the real world at this time. However, since there are more tangible rewards to be earned, and not just event-specific pocket monsters, everyone might just want to get out there and walk.

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