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ASX-listed game developer iCandy has gone live with one of Southeast Asia’s first blockchain games.

As it’s based on blockchain technology, iCandy says CryptantCrab is an “uncheatable” game. That’s important, because in CryptantCrab you train mutant crabs to fight each other – and the prize is Ethereum.

As it’s a web-based game, CryptantCrab “is not impacted upon by cryptocurrency regulations in most jurisdictions”. Specifically, Singapore and Malaysia, where raising fighting fish also happens to be a popular pastime.

Hence since a campaign for early adopters was launched in October last year, iCandy has already sold more than 1200 virtual crabs online at an average price of $US50 each.

Now the game is live, gamers will spend the next few months building their crabs out through Mutation and Xenograft features, and selling and trading them through an online marketplace.

Some are already asking up to 100 Ether:

‘Mum, can I have 100 Ether for a virtual crab?’ Picture: iCandy

If this all sounds familiar, then you’ve probably been exposed to the CryptoKitties fad around a year ago which nearly broke the Ethereum network.

A year later, more than 1 million CryptoKitties had been bred, and more than 3.2 million transactions had been made through blockchain-based smart contracts. All up, the CryptoKitties fad raked in nearly $US30 million from VCs across several rounds.

To evolve their crabs, CryptantCrab owners earn “Cryptant” through one-on-one battles (opening up in Q1, 2019), or by buying the resource outright, and spend it on upgrades.

iCandy says the blockchain base means crabs can’t be stolen or copied, and ensures every one is unique. There are currently “over a million” variation that can be further mutated.

“We are excited at the prospects that blockchain technology is able to put users front and centre with their decisions to manage and improve their in-game resources in a transparent and secure manner,” said Desmond Lee, COO of iCandy.

“Having the ability to pit these digital crabs against one another in battles will create a dynamic global gaming environment that is completely new for most gamers.”

And in Q2, 2019, iCandy is promising “Pool Arenas”, where players will be able to take their crabs into battle “for a huge prize pool of Ethereum”.

iCandy launched on the ASX in February, 2016. It claims its portfolio of games are played “by over 350 million gamers worldwide”.

Shares in ICI hit a high of 21 cents in August, 2017 but have steadily dwindled and are currently trading at 5.1 cents.