Not For Distribution To Us News Wire Services Or For Disseminaton Into The USA
Vancouver, BC, Canada, March 16, 2021 – Skychain Technologies Inc. (TSXV-SCT) announces that the Company, together with its strategic technology partners, has successfully conducted a PoC (Proof of Concept) testing for an exciting new cloud gaming platform in Vancouver.
The new GPU (Graphics Processing Unit) platform will allow invited users to play AAA video games through their smart phone, pad, or even smart TV or HDTV with a standard OTT* TV box. AAA (Triple-A) is a classification used for games with the highest development budgets and levels of promotion. An AAA title is expected to be a high-quality game and/or among the year's bestsellers.
“Our new technology will be a game changer,” said Skychain CEO Bill Zhang. “We are removing the barrier of purchasing an expensive gaming station to play AAA games, and the gaming experience is just as good as playing with gaming station at home.”
The Edge cloud gaming project will require development capital of $50 million, provided by Skychain and its partners. Skychain provides IaaS, while three partners will provide a liquid cooling solution, gaming hardware support and user migration into the cloud.
Skychain contributed hardware, software and technical expertise for the PoC, for which it will receive approximately $600,000. Under the partnership agreement, Skychain can be reimbursed for its investment by shares in the partner company. Capital structuring will begin shortly under the partnership.
The cloud gaming platform is built on top of the IAAS (infrastructure as a service) that Skychain provides, together with the industry-leading gaming cloud PAAS (platform as a service) provided by Skychain’s technology partner. The PAAS platform manages gamer interaction, gaming rendering and gaming video streaming. The platform also provides a mobile App which can be installed on smart phones, pads and TV boxes to give gamers a multi-screen experience. The tested games include sports, fighting, and different RPG (role-playing) games. All games have been tested successfully with the platform.
Zhang added: “With the abundant GPU computing power Skychain brings to the Edge right now, and with the success of the Edge cloud gaming platform PoC, not only gamers will benefit from the proliferation of Edge resources and smart devices, but game studios—especially AAA console game studios—will enjoying the exponential increased user base. In addition, the promising XR game and content providers will definitely be enabled by this technology.”
As the next step for the cloud gaming project, Skychain will launch a commercial cloud gaming platform at scale to serve Quebec and the greater Toronto and Vancouver regions in different phases. Skychain expects this rollout will provide a boost to the Canadian innovative digital content industry. The upgrade on its IaaS to meet cloud gaming needs will start in Q3 2021 with estimated cost of $250,000 for hardware and $150,000 for engineering.
* OTT stands for over-the-top, initially named in reference to devices that go “over” a cable box to give the user access to TV content. In OTT channels, content is delivered via an internet connection rather than through a traditional cable/broadcast provider.
About Skychain Technologies INC
Skychain Technologies is a Vancouver based company providing Blockchain Infrastructure services and power solutions. Our vision is to become a leading player in the crypto/data mining hosting by growing to 100Mw of crypto hosting capacity. To learn more, visit www.skychaintechnologiesinc.com
ON BEHALF OF THE BOARD OF DIRECTORS
Bill Zhang
President and CEO
______________________________________________________________________
Contact: 604-688-5464
bill@miningsky.com
• Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
• Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.
