SPYR Integrating Blockchain Technology Into Pocket Starships

DENVER, Jan. 09, 2018 (GLOBE NEWSWIRE) -- SPYR, INC. (OTC Pink: SPYR), a holding company with a wholly owned subsidiary in the mobile game & app development and publishing industry, today announced that it will be integrating Blockchain technology into its flagship game, Pocket Starships, and currently is taking steps to execute the integration.

According to the Harvard Business Review, Blockchain is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way."  Blockchain, combined with the use of cryptocurrencies like Bitcoin and others, allows games to be connected to the real-world economies through crypto exchanges and P2P (player-to-player) transactions.  Since cryptocurrencies can be traded on an exchange or between people, it opens an opportunity for funding using the in-game currency.

In SPYR’s new “Blockchain Universe,” players of Pocket Starships will be able to purchase a planet that will exist on the blockchain and will create resources for that player.  Players will be able to buy their planets with cryptocurrency.  Each planet will be wholly unique and will be buyable, sellable and tradable on a public planet real estate market. 

SPYR’S Blockchain Universe plan includes the release of new planets on a regular basis.  Because the planets will reside in the blockchain, they will be capable of integration and use within space-based games developed and published by others, not just in Pocket Starships.

Players will have more ownership of the planets they purchase.  With a Blockchain record, players are guaranteed ownership, which gives their planets value to both the owner and other players.  This will make players more likely to spend money in the game because a chance to “cash out” by selling your planets keeps them active but at the same time, allows players to recover some funds that they deposited.

SPYR will generate revenue by charging for the upkeep of planets and by getting a percentage of purchase prices on the sales and trades of planets. 

SPYR’s CEO and President, James R. Thompson, stated, “Our SPYR team has worked diligently to come up with the best way to first incorporate Blockchain technology into Pocket Starships.  I believe that we have come up with a very exciting way to implement Blockchain technology both within and beyond Pocket Starships.  The ability to own a planet that creates in-game resources is something that will appeal to our players and keeping the planet on the blockchain will allow SPYR to work with other developers and publishers to have the planets exist in any number of space-themed games.”

About SPYR

SPYR, INC. is a holding company that through its wholly owned subsidiary SPYR APPS, LLC, is engaged in mobile application and game publishing and development.  The Company is currently exploring opportunities for additional acquisitions in these and other verticals, including mobile application and game development, in order to expand its holdings, to drive and increase revenue and to generate profits and build value for shareholders.

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This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Readers are advised to review our filings with the Securities and Exchange Commission that can be accessed over the Internet at the SEC's website located at http://www.sec.gov, as well as SPYR’s website located at http://www.spyr.com, and SPYR’s community channel on Twitter located at https://twitter.com/spyrinc.

Investor Relations Contact:

Marlin Molinaro

Marmel Communications, LLC

(828) 669-0616

mmolinarofc@gmail.com

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Source: SPYR, Inc.