The Gold Rush Project is on its way to becoming the first project of its kind, to enable anyone in the world, ages 11 and up, to play games that combine the history, geography and mathematics of the global gold rushes with a physical gold backed crypto currency (GRC) all wrapped with a bit of fantasy and fiction.
The Gold Rush Coin (GRC) is the key to all things Gold Rush Project.
The concepts of virtual or digital currencies are not new. However, the implementation of a virtual or crypto currency and attaching a value by backing it with Gold, allows the Gold Rush Project to stretch beyond the average game company and provide a way for players to aggregate real spendable wealth.
For example -- if we created 50 Million GRC and backed it with 100 ounces of Gold at $1100 an ounce.
Each GRC would be 50M/(100*1100) = 0.0022. Now if gold went to $1500 those same coins would be worth 50M/(100*1500) = 0.003. What if we added another 100 ounces of gold, making 200 ounces total? At $1100 per ounce, the value of each GRC coin would not be 50M/(200*1100) = 0.0044.
You can easily see how the value of the coins can add up to real money and very quickly.
The key differentiator for The Gold Rush Project is that we are going to give these coins away as part of normal gameplay by using them as player bonuses, jackpots and prizes. And by giving these coins out within the game, we are giving people and opportunity to aggregate and watch the coin value grow.