What is C2X?
Summary
1. Introduction
The evolution of gaming originated from a variety of fun activities where players would gather together and contribute different ideas to win or progress towards a goal. Games were utilized as a competitive or cooperative tool within the community, and beyond just being a form of entertainment, created an economy that contributed back to itself. New organizations continually formed to pursue profit through gaming, which eventually developed into the industry that we see today.
People dedicated time and money to win competitions and achieve common goals within the games, and in return, earned collective knowledge and satisfaction. However, all of the profits from these activities were only going back to the group that developed these games.
Blockchain, a distributed digital ledger sharing information to all participants, is a new technology developed to make the existing market of biased business models and unbalanced market economy clear and fair.
Blockchain technology has continued its development and growth and has now expanded into different business fields and general technologies of the overall society. Non-Fungible Tokens (NFTs) have emerged as a solution to the unbalanced current game market.
NFT is a term which appeared with blockchain technology, and it means the token is non-fungible. Unlike the simply-coded items within the games of previous generations, each of the NFT items in NFT-enabled games are unique. Also, anyone can secure digital ownership of the items forever, risk-free of hacking, forgery or alteration, by acquiring their exclusive right of use on the blockchain.
In games of previous generations, a user who possessed any specific item held only the right to use that item within the game. If the user became unable to access the item, or if the game account was hacked and the item was taken by another user, it was difficult to resolve the problem without the intervention of the game company even if the user claimed his/her digital ownership. Moreover, all copyrights of these items belonged to the company that developed and serviced the games.
However, such risk is relatively lower in NFT-based games. As they are open source, anyone can verify digital ownership of game items. The risk of loss or hacking is low and digital ownership of such items is wholly retained by that user.
Yet, it does not mean that NFT-based games only have positives. Innumerable NFT-based games have appeared with the growth of the blockchain market, among which some games are money-grabs, and in worst cases, some games involve scams. Due to these games, NFT games can present critical risks for both players and investors.
According to State of the DApps, among approximately 3,800 decentralized applications (DApps), about 25.5% are “Abandoned” meaning there was no activity in the DApp for 6 months or more, or the domain was inactive, and approximately 1 out of 4 DApps had not been completely developed or had suspended their services. C2X was developed with the purpose of resolving these problems and to establish a standard for the blockchain game industry that will continuously advance in the future. It was built to be an open blockchain gaming platform that could encompass the blockchain game ecosystem and although a game is sunsetted in the C2X ecosystem, the assets and items within the game do not lose their values and can be transferred to other games or used to create other values.
Furthermore, the C2X ecosystem is designed to publicize all service decisions and operations of the games on the platform by enabling all participants to be owners.
It is an ecosystem of virtuous cycles where all users and creators are privileged on the basis of a high standard of stability, fairness and transparency, and thus intended to present a sound direction for current blockchain gaming platforms.
2. Market Trends
◆ The Blockchain Market
The size of the worldwide blockchain market is estimated to grow with an annual average growth rate of 68.4%, from USD 4.9 billion in 2021 to USD 67.4 billion by 2026.
Breaking down the market share by region in 2020, North America held 39.1%, Europe held 28.6%, Asia-Pacific held 20.8%, Africa held 6.8% and Latin America held 4.7% of total share.
The market is estimated to grow from USD 1.184 billion in 2020 to USD 12.638 billion by 2025 in North America, from USD 865 million in 2020 to USD 11.288 billion by 2025 in Europe, and from USD 629 million in 2020 to USD 10.606 billion by 2025 in Asia-Pacific.
When categorizing the blockchain market by platform and service, platform was 63.4% of the total in 2020 and service was 36.6%. For future projections, the platform sector recorded USD 1.92 billion in 2020 and is estimated to reach USD 23.33 billion by 2025. The service sector recorded USD 1.16 billion in 2020 and is estimated to reach USD 16.33 billion by 2025.
Categorizing the blockchain market by application supplier, infrastructure supplier and middleware supplier, each of them recorded 41.5%, 34.5%, and 24.0% share in 2020 respectively. The application supplier sector recorded USD 1.256 billion in 2020 and is estimated to reach USD 18.839 billion in 2025; the infrastructure supplier sector recorded USD 1.044 billion in 2020 and is estimated to reach USD 11.529 billion in 2025; and the middleware supplier sector recorded USD 726 million in 2020 and is estimated to reach USD 9.294 billion by 2025.
・Market Size and Projections by Component of the Global Blockchain Market
・Market Size and Projections by Supplier of the Global Blockchain Market
◆ NFT-Based Games
NFTs were the center of attention in 2021. An NFT is a token certifying the holder of a certain digital asset by using blockchain technology. The value and the ownership of digital assets were difficult to verify in the existing economic structure as they could be easily copied and modified. However, thanks to blockchain technology and NFTs, now the ownership of innumerable tangible and intangible assets can be certified, and as a result, value can be formed.
According to the Dapp Industry Report announced by DappRadar in September 2021, the NFT market size grew by 1,103% in August 2021 when compared to June of the same year. Among the Dapp Industry, the most interesting field is the NFT gaming sector. In the third quarter of 2021, the NFT game market reached USD 2.32 billion, which was 21.7% of the overall NFT market.
・NFT Trading Volume (Bn, USD) and Sales Count (M) — 2021
・Dominance of NFT Games Trading Volume vs. NFT Space Trading Volume
Characteristics of C2X
1. C2X Governance
C2X will be developed as a universal blockchain gaming platform to establish a fair and transparent ecosystem by clearly specifying the sovereignty of creators and users.
C2X will be developed as a blockchain-based gaming platform with the purpose of establishing an ecosystem of virtuous cycles where both users and creators, as participating parties, are privileged.
By holding C2X Tokens, the Governance Tokens of the C2X platform, users will be able to exercise their rights on ecosystem operational matters through the distributed network voting system. In other words, anyone from anywhere may exercise their decision-making right in the C2X Governance by holding C2X Tokens.
C2X Governance will operate under a system where all C2X participants vote in active proposals. At this point, the voting system may be abused by a decentralized organization for hostile takeover or natural domination before the ecosystem can be sufficiently active, and accordingly, it is possible that decisions are made that may contradict the mutual interests of the Governance. To remedy this issue, a group of game development suppliers organized in the name of “C2X Council” will make superior resolutions. They will protect the ecosystem by establishing the basic game ecosystem and user protection policies.
C2X holders may cast their vote for a proposal that they desire to activate and implement. Such a proposal may be implemented on the C2X ecosystem according to the voting results. The components of the C2X Governance can be classified into two groups, the C2X Council (a creator group in the ecosystem) and all C2X participants:
◆ C2X Council
C2X Council is a group of creators that will deliberate and decide crucial agendas regarding the C2X ecosystem by performing the following functions as a council:
- In cases where anyone desires to participate in the C2X Council, the existing Council will decide for acceptance.
- The Council may present new agendas to secure the C2X ecosystem for its continuous advancements and to improve and evolve the ecosystem to an advanced form according to the decisions made by the majority of the C2X holders.
◆ All C2X Participants
Anyone holding C2X will be a member of the C2X ecosystem.
The C2X ecosystem will be transparent and fair, as all processes and procedures of decision-making within the Governance of the C2X ecosystem will be disclosed to all C2X participants. Participants in the C2X Governance will have voting rights.
- In the decision-making process, C2X participants may express opinions by directly participating in the votes according to their pro-rata stake in C2X, and a resolution will be made by the majority.
- C2X participants may decide on the entry of any new games or projects into the C2X ecosystem and may perform evaluations on their content.
- C2X participants will act as surveillants for the sound and transparent operation of the C2X ecosystem.
- The C2X ecosystem will establish an evaluation system on the Governance, and C2X participants may evaluate the Governance system and its operation.
2. Fairness Between Parties in Game
To secure fairness within the game, C2X will clearly distinguish between the sovereignty of game content (digital ownership), the sovereignty of items, and the sovereignty as players and users. Accordingly, the sovereignty of operation and management will be held by the content creators, and the sovereignty of NFTs will be granted to the users. This will enable the continuous growth and maintenance of content and is expected to contribute to expanding the utilization of NFTs in content. Eventually, this will lead to fairness of sovereignty as established by members of the C2X Governance on the operation and fairness of game content.
C2X Governance will promote certain activities of creators and users to improve the economic opportunities and standards within the ecosystem and to improve and protect fairness in the economic relationship.
C2X Council will provide diverse games within the ecosystem to users and improve the quality of the ecosystem.
C2X participants will be granted the sovereignty of items within games through NFTs and will not only contribute as a member of each game’s ecosystem but to the overall C2X ecosystem as well.
3. Selection of Blockchain Mainnet
Currently in the market, there are diverse blockchain platforms which provide different algorithms and development environments. Among these, C2X is planning to construct a blockchain gaming platform utilizing the Terra platform, recently recognized by the market for its remarkable growth and its support for diverse functions and developer-friendly environments.
Terra reached a total market capitalization of approximately USD 34 billion by the second half of 2021 (coin market rank of #9), and it recorded over approximately 140 times growth within the last year.
C2X is expected to be able to apply and use Terra’s cross-chain and DeFi solutions by utilizing Terra Mainnet.
Also, Terra provides advantages in transaction cost efficiency and speed, which are crucial for the construction of a blockchain gaming platform. Beside its technical advantages, Terra utilizes a PoS (proof of stake) algorithm to verify blocks, which is a significantly more eco-friendly solution compared to the powerconsuming PoW (proof of work) algorithm.
The C2X platform will introduce numerous game DApps, and to prevent any lag in gameplay, will use an autonomously-operated exclusive node with the target speed of 7,000 transactions per second (TPS) or higher using high-end servers.
4. Game NFTs
The C2X platform provides benefits to all users and creators participating within the ecosystem by using blockchain technology and NFTs.
The C2X platform provides the following benefits to participants through game NFTs:
◆ Permanent Digital Ownership
Users will have permanent digital ownership of the NFT items they hold. All NFTs held on the blockchain can be tokenized to be used in any other game within the C2X ecosystem or to be exchanged with any other virtual asset.
◆ Preservation of Value
Up to now, the value of game items and assets was limited to within their respective games. In C2X, NFT items acquired within a game can be traded through the Marketplace and Wallet and can be converted to use any other game within the C2X ecosystem in addition to the original game.
Until now, if a game declined, the value of virtual assets a user holds within the game also declined; but within the C2X ecosystem, although a game declines, the tokens a user holds can be used in other games within the ecosystem or can be exchanged for other tokens through the Wallet.
◆ Security and Invariability
NFTs within the C2X ecosystem will be easy to tokenize or trade. The C2X platform will use a Marketplace managed with blockchain technology and will provide the most transparent and safest transactions by using a distributed network. An NFT once created has a unique identifier which is distinguishable from any other item.
◆ Decision Rights
Users themselves can decide on how to trade or transfer their own items, and by holding a C2X Token, users will also have voting rights within the C2X ecosystem.
Application
The development and operation of games in the existing markets are maintained or buried according to the logic of the market economy. This means that the existence of a game is not determined by the decisions of the users, but by the profit level of development and operation, As a result, the decision rights of the users are given away without choice. As an alternative for such circumstances, the C2X ecosystem will make all possible efforts to construct a market economy that enables the continuous operation of games by uniting the blockchain gaming platform and users.
- C2X Wallet will serve all NFTs, C2X Tokens and sub-Tokens, as well as other units. This has been designed to secure the sovereignty of game items and diverse digital ownerships and will integrate all exercise of rights, operation, and management permitted within the system.
- All alliance games included in the C2X gaming platform can issue diverse forms of Tokens to fit each of their ecosystems. This feature will function positively for both creators and users, driving fair and free economic activities within each game.
1. Architects
- The base blockchain will be established on Terra, a globally-acknowledged and well-stabilized Mainnet node. C2X will continue efforts to partner with various middleware and third parties within the Terra ecosystem to further expand its ecosystem.
- C2X Tokens, the Governance Token, will be issued and distributed on the public node, and sub-Tokens will be distributed within the same layer to secure their proper circulation and operation. This means that the autonomous activities of sub-Tokens will be guaranteed and that decision-making and operation will align with the necessities of creators instead of the centralized management of the C2X platform.
- C2X Tokens will be consumed for the operation policies of each alliance game and for issuing NFTs. Additionally, they will be used for interaction between games and for communal use between users, which will play a crucial role in supporting the entry of new games into the ecosystem.
- The speed of issuing Tokens and NFTs will be maximized by applying the data of in-game activities to the blockchain from dedicated public nodes. This will reduce delays caused by slowdown or pending that may hinder game operation; and any transfer, creation, and combination of essential NFTs will be operated on the public node, which will not be closed in any case.
- Each dedicated node will be operated by a scaled-out high-end server to prevent any deferment due to large-scale user activities within the game, with the target speed of 7,000 TPS or higher. By using a bridge server connecting the processing of transactions within the Wallet, together with the public node, additional consumption of time will be minimized.
- Transactions and operations within the Wallet will be linked and will operate together with the database logic of each game.
- The bridge server will sync important data with the public node and allow users to perform diverse transactions and production activities within the Wallet. The NFTs and tokens generated through this will be linked to the diverse Centralized Exchanges (CEX) or Decentralized Exchanges (DEX), and they can be directly used and serviced in the Swap Pool and Game-Fi.
- Tokens in each game will have essential value for the independent operation of the game ecosystem, and they will be used in different forms, such as the creation, combination, etc. of NFTs together with C2X Tokens (Governance Tokens). The issuance volume and consumption rate of Game Tokens to C2X Tokens within each game will be decided proportionate to the evaluation and voting results of C2X Holders on the Beta Game prior to launch.
Ecosystem
1. C2X Token
C2X Tokens are the highest-level tokens within the C2X ecosystem with a limited total supply, and holders will be given the right to participate in the operation of the ecosystem. C2X can be freely held, transferred and exchanged following the blockchain standard. As the governance token, C2X is maintained for the exercising of rights as principal agents in operating the blockchain gaming platform, such as making resolutions and diverse policies for the gaming platform.
- Governance
Ownership of the governance token C2X gives rights as a principal agent in operating the ecosystem through the distributed network voting system.
- Operation
C2X Tokens will function as a medium that links diverse activities within the platform. Platform participants can use C2X Tokens for the sale or purchase of NFTs in the Marketplace, or exchange them with various tokens within the C2X platform through the Wallet.
2. Game Tokens
Game Tokens are the main in-game assets of games participating in the ecosystem and they are issued with a limited supply to establish an independent economic system within each game.
- Measure
Game Tokens can be exchanged with various in-game assets, items, resources, etc., and through this, game users will be able to intuitively evaluate the importance of such in-game assets, items and resources based on the exchange rate.
- Evaluation
A game provided by the Game Provider can be evaluated in real time by users with Game Tokens. This gives the Game Provider more motivation to successfully launch and operate the game.
3. Games
A game is a DApp operated independently by a creator.
Each game has various rules and worlds and has its own unique ecosystem with particular characteristics. A market economy will be formed by users creating and trading digital assets within the games. This will have similar flow to the existing in-game markets and will be shown the same way within the market economy of C2X. However, the byproducts and principal items generated by the acts of users and their respective digital ownership will be granted to the users. The usage right of such digital ownership will be reserved by the user, not by the creator.
For a game to onboard the C2X platform, the Beta Game Launcher process must be preceded. The Beta Game Launcher process is where users participate in voting for games that are provided by Game Providers. If the number of agreed votes exceeds a set goal amount for a certain game, the game will be officially launched. During this process, the users will use C2X tokens to cast their votes and Game Providers will utilize the tokens to build an independent gaming ecosystem.
4. Treasury Pool
The Treasury Pool is a wallet used for the operation of the C2X ecosystem. Certain portions of the commission fees generated within the ecosystem will be accumulated in the Treasury, and the tokens accumulated in the Treasury will be used for the stable operation of the C2X ecosystem. The Treasury will function to establish the ecosystem in its early stages; and thereafter, it will be operated for the purpose of the continued existence of the ecosystem.
- Genesis Liquidity Setting
As Game Tokens are distributed, this provides the liquidity for generating an initial ratio between C2X Tokens or various Token Swap Pools.
- Pool Balance System
The Pool Balance System is a system that distributes tokens according to any liquidity changes in each token due to the launch of new games and new inflows.
- Convert Pool Support System
The Convert Pool is a system that enables an exchange between in-game assets and Game Tokens. The Convert Pool Support System is a system that supplies Game Tokens to the Convert Pool in order to stabilize the conversion ratio without interfering with the market value between in-game assets and Game Tokens.
5. Swap Pool
The Swap Pool supports an exchange between C2X, Game Tokens, and other external tokens located within the C2X Wallet.
6. C2X Station
C2X Station will be designed to be a complete open source blockchain-based Wallet, as well as a DApp connecting games to each other, providing diverse functions including managing, sending and swapping blockchain assets within the C2X ecosystem.
Users can store and manage all digital assets acquired through the games within the C2X ecosystem. C2X Station will enable a Token Swap between C2X and Game Tokens as mentioned above, and also support an exchange between diverse in-game assets, items and resources acquired within the games with Game Tokens.
Finally, C2X Station will play a central role in the C2X ecosystem by supporting an exchange between different Game Tokens, providing a more tightly-knit link between the games.
7. Ecosystem Construction
The ecosystem will be expanded step by step to ensure stable growth without flaws.
Genesis Contributor will service and publish early games to structure the initial ecosystem properly and to secure the stability of the open Software Development Kit (the “SDK”). All participants of game projects, as C2X holders and game players, will become the basis of the ecosystem’s establishment.
Once the establishment of the C2X blockchain gaming platform is stabilized and completed, all participants of the C2X Governance will determine the expansion of game content through the entry of new Game Providers, further improving the transparency and fairness of the C2X ecosystem.
As the amount of titles increases, participants will be educated and will be able to quickly determine the potential value of new titles and the value of their assets over time.
Token Economy
1. Token Allocation
The total supply of C2X Tokens to be issued will be 2,000,000,000, and the purpose, allocation and distribution schedules for the Tokens are as follows.
2. Use of Funds
Genesis Contributors (15%)
This supply for Genesis Contributors will be distributed to the partners that contributed in the initial creation of C2X, and such Genesis Contributors will be operating as C2X Council for the establishment of the C2X ecosystem.
Ecosystem (40%)
This supply for the Ecosystem will be distributed for alliance establishment within the ecosystem, for tighter integration between various games existing within, and for establishment of the free market. The supply for such Ecosystem will be naturally provided according to the designed ecosystem logic of the applicable games. Everyone who desires to participate in the C2X ecosystem may exercise certain rights in the platform by earning tokens through playing games or holding tokens distributed in the market.
Backers (10%)
This supply for Backers will be distributed for the purpose of ecosystem construction at the initial stage of the platform and will be provided to initial investment partners to form and stabilize the initial ecosystem.
Treasury (5%)
This supply for the Treasury will be used for operating the ecosystem at the early stage, and as the ecosystem expands, a certain part of commissions generated within the C2X ecosystem will be accumulated in the Treasury. Those tokens accumulated in the Treasury will be used for the stable operation of the ecosystem through a smart contract; and for transparency and fairness, a dashboard will be accessible to verify all purpose and source of usage of such tokens in the Treasury.
Marketing (3%)
This supply for Marketing will be used for marketing activities for the initial growth of the platform. It will be used for marketing such as user acquisition and branding to initially build the platform, and will be the basis to continuously promote the platform’s expansion and advancement.
Business Partnerships (5%)
This supply for Business Partnerships will be distributed to strategic partners to help with exchange listing and public sales for ecosystem expansion.
Team (15%)
This supply for the Team will be distributed to developers from diverse fields as required for the initial development of the platform, developers who participated in the development and operation of the market economy, and other parties who have participated directly or indirectly in establishing the platform.
Advisors (2%)
This supply for Advisors will be distributed to external advisors and consultants who participated in the initial development and design of the platform.
Reserve (5%)
This supply for Reserve is set to prepare for urgent or risky circumstances during the operation of the ecosystem. It will be flexibly operated according to the details of market construction by the foundation, its operating entity, and the alliance, but it will be operated on the basis of the prevention / exclusion of a sudden fluctuation in the market.
Roadmap
1. Vision & Goal
The market is endlessly changing and growing even at this moment. We are realizing possibilities unimaginable in the existing markets and experiencing explosive growth with unlimited potential.
C2X will respond in the most active manner to such changes and is ready to be the most optimal ecosystem.
Global users will experience a new blockchain gaming platform with a completely different environment where the sovereignty of gamers will be firmly established through their activities.
The C2X platform will become a basis for continuous advancement towards the future for both users and creators, as it will provide the best experience to users and the most stable development environment for creators.
2. Roadmap
Partners
Appendix
1. Disclaimers and Risk Factors for Investment
In relation to any and all information specified in this whitepaper, you hereby unconditionally and irrevocably accept and agree to the following:
NO ACCESS FROM RESTRICTED TERRITORIES
You fully acknowledge that it may not be lawful for individuals of certain countries or certain categories to access this whitepaper and confirm that you are not prohibited or restricted to access this whitepaper by any laws or regulations.
You fully understand and agree that unless permitted by applicable laws and regulations, any offerings of the tokens mentioned in this whitepaper (the “Tokens”) shall not be made directly or indirectly, nor shall any related documents be sent, in or into countries where participating in such offering is prohibited.
For clarity, any offerings of the Tokens are not intended to be made in the People’s Republic of China or in the United States of America.
The writer of this whitepaper, the issuer of the Tokens, their affiliates, officers, directors, employees, advisors and agents (collectively the “Writer Parties”) shall not be liable or responsible for any person who accessed this whitepaper from any jurisdiction which prohibits or limits access to this whitepaper.
Information Only
This whitepaper published by the C2X platform is provided for information purposes only without any kind of warranties including the following. Any conclusion or business plan found in this whitepaper is not guaranteed in its accuracy or completeness and no representations and warranties whether express or implied are made.
- No warranty of merchantability, no warranty of fitness for a particular purpose, no warranty of the title or non-infringement
- No warranty that this whitepaper contains no error and that it is proper for any kind of purpose
- No warranty that such contents do not infringe upon the right of any third party
All warranties are hereby expressly disclaimed. The Writer Parties shall not be responsible for any and all kind of loss or damage (including, but not limited to, direct, indirect, special or consequential loss, actual or conclusive loss and damages, and collectively hereinafter referred as “damage”) that arise as a result of any use, error, omission, reference, dependence, reliance of any information contained in this whitepaper.
This whitepaper may be modified or amended, and the latest version hereof will be distributed through the representative website. No notification will be provided in each and all modification or amendment to the whitepaper.
This whitepaper is provided for information only, and it is essentially a business proposal and shall not be legally binding in any case.
Information such as reports specified within this whitepaper contains estimates for the future as prospective in nature, and as it contains uncertainties as they are yet unknown, there may be crucial disparities between those estimates and the actual results. The information contained in this whitepaper may include statements that are deemed to be “forward-looking statements,” which are not statements of historical facts. These forward-looking statements inherently contain risks and uncertainties as they relate to events or circumstances in the future. Accordingly, any information, opinions and prospective information including estimates, if contained herein, in relation to the expected roadmaps, development and anticipated conditions and performances of the relevant entities, are subject to update, expansion, revision, independent verification and amendment.
The Writer Parties, except otherwise required by any law, expressly make no undertaking to update or amend any forward-looking statements and make no representation or warranty that any events mentioned in those forward-looking statements will actually occur in reality. The Writer Parties intend to achieve all goals specified in this whitepaper but in the event of any unpredicted circumstances, such goals may not be achieved and the Writer Parties do not bear any responsibility or obligation to notify you in such cases.
No Offer
All information contained in this whitepaper is not intended for information for an offer or solicitation of investment in any specific form or is not a proposal or an offer to solicit the purchase of any form of securities in any jurisdiction. It is for information purposes only to promote understanding of the business. This whitepaper does not constitute or form, and is not intended to be, an offer or solicitation of an offer to buy or sell, subscribe for, underwrite or purchase any form of investment or securities or other financial instruments, nor shall it or any part of it form the basis of, or be relied upon, in any way in connection with, any contract or investment decision relating to the same.
No Advice
No content contained in this whitepaper constitutes any legal, financial, tax or other advice. You must conduct your own due diligence and shall comply with all local laws relating to virtual assets, taxes, securities and other regulations of the respective jurisdiction. You hereby fully acknowledge and agree that you are encouraged to independently consult with professional consultants.
No Agreement
This whitepaper shall not form any basis of investment decision or decision to enter into any contract, and shall not be relied on in any case. All agreements between the issuer and you in any case of sale, exchange or acquisition of Tokens shall be governed by a separate document (the “Sale Document”). In case of any inconsistency between this whitepaper and the Sale Document, the Sale Document shall prevail.
No Advertisement
This whitepaper is for general information purposes only, and it does not consist of any promotional material and shall not be used to propose or solicit subscription or investment on behalf of the Token issuer. The distribution of this whitepaper may be restricted or prohibited by the applicable laws or government authority of a jurisdiction. Any recipient of this whitepaper shall acknowledge and comply with all such restrictions or prohibitions, and the Writer Parties shall never be liable for any party in relation to the foregoing.
Regulatory Risks
This whitepaper is not prepared pursuant to any judicial jurisdiction, regulation or act of any specific country, and no regulatory authority or government entity has examined or approved this whitepaper. No act, regulation or regime with respect to virtual assets, blockchain games and relevant applications have been introduced or implemented in numerous jurisdictions around the world. If any regulatory authority or government entity introduces any laws or regulations to regulate such virtual assets, blockchain games and relevant applications, or makes changes to existing laws, regulations and/or rules, it may have a material adverse effect to any individuals or entities in relation to this whitepaper or the Tokens, and it may disable the implementation or operation of plans as referred to in this whitepaper, and/or impair the ability of any relevant entity referred to in this whitepaper to function or operate as intended, or at all.
Market Volatility
Any relevant blockchain system or tokens may become no longer commercially viable or operable where there may be changes in political, societal, economic, or stock or virtual asset market conditions, or where the market value of, or the demand for, virtual assets or the relevant blockchain systems may go down or become trivial.
Other Disclaimers
Even with their best efforts, the Writer Parties may not be able to implement or maintain the objectives, business strategies and plans as specified in this whitepaper. The roadmap specified in this whitepaper has been prepared on the basis of the current technical infrastructure and know-hows, but there may be potential business or technical barriers in the future which might impair or disable their actual operation. This whitepaper is a document containing certain information about the Writer Parties and the content hereof is subject to change in accordance with changes in the relevant laws and regulations, business circumstances and industry prospects, or the judgment of the management body, etc. To the fullest extent permitted by applicable laws, no Writer Parties shall be liable for any liability, claim, demand, loss or damage (including, but not limited to, negligence claims) arising out of or in any way related to your acceptance or reliance on the information contained in this whitepaper regardless of whether you have been advised of the possibility of such damages. If any references have been made to any third-party website or information source, we may not have sought further verification on the accuracy, completeness and timeliness of the information specified therein, and no warranties of any kind are made with respect to the same.
With respect to your purchase, exchange or acquisition of any Tokens, if any, you are hereby deemed to fully understand and agree as follows:
- Virtual assets, including the Tokens, have no limit to their upper/lower limit price, and have demonstrated extreme volatility in their values in accordance with various factors such as speculative demands or changes in domestic or international regulatory conditions, having unique characteristics related to the market conditions of a 24/7/365 worldwide transaction service.
- It is at your own risk and responsibility with respect to any investment decisions in virtual assets, and any and all possible losses and damages will be borne solely by you.
- No warranties whatsoever with respect to the Tokens or their values are made or secured by any government, the Writer Parties or any third party.
- The Tokens are not to constitute capital market products such as securities or derivatives of any form, and they are not issued or registered under any Security Act or other similar laws of any specific country or jurisdiction in which any potential holder of the Tokens is located.
- You shall not, are not eligible to, sell or use the Token in and from any jurisdiction in which any sale or use of certain digital currencies, digital assets, virtual assets or cryptocurrencies is prohibited, and any person in violation of such shall be solely responsible for such violation, and the C2X platform and its relevant parties shall not be responsible for any such cases.
2. Reference
- Stateofthedapps, Dapp Statistics, 2022
- MarketsandMarkets, Blockchain Market with COVID-19 Impact Analysis, by Component, Provider, Type, Organization Size, Application Area and Region — Global Forecast to 2026, 2021
- TechNavio, Global Blockchain Market, 2020
- DappRadar, Dapp Industry Overview: August 2021, 2021.08
- DappRadar, BGA Blockchain Game Report Q3 2021, 2021.10.14
3. Glossary
NFT: Non-Fungible Token
DApp: Decentralized Application Wallet: An electronic wallet enabled to store and manage cryptographic assets, by which technology they are stored on a blockchain
Governance: Sovereignty to present opinions through votes within the platform
Smart Contract: A system intended to facilitate the performance of a contract automatically when the conditions of the contract are completely fulfilled where the terms and conditions of such contract are programmed and stored in an electronic contract document in advance
C2X Council: Consultative group of decision-making within the platform
Mainnet: The network where a blockchain is actually operated
TPS: Transactions Per Second
Marketplace: NFT Exchange
Node: A single server unit, composing a network
Pending: Pending state as a result of causes such as incomplete transactions while creating an NFT
CEX: Centralized Exchange
DEX: Decentralized Exchange
Swap Pool: Blockchain technology that supports exchanging tokens to other tokens
Game-Fi: A blockchain with a gaming system by which virtual assets can be earned
PoS: Proof of Stake
PoW: Proof of Work
In-Game Asset: A term used to mean assets, items, resources, and opportunities to play within a game, and the like, which are used by users to access certain content within the game
Minting: An act of minting tokens
Game Token: A virtual assets used in games within the platform
Token Swap: An act of exchanging one token for another in a Swap Pool
Treasury: A device for funds used for the purpose of operating an ecosystem
