History of Iskra
The Iskra leadership team brings together extensive experience and specialized expertise from both the blockchain and video game industries. Our team members have successfully led significant projects, including Icon Loop, LINE LINK, and a national initiative for the Central Bank Digital Currency with the Bank of Korea. Additionally, they have built gaming networks for global brands such as Disney, Nexon, Netmarble, Han Game, and Tencent.
The team is driven by the belief that meaningful achievements require challenging efforts. They have chosen to dedicate themselves to building Iskra, not because it is easy, but precisely because it is difficult.
The team comprises 43 professionals from across the globe, with representation from Asia to the Americas. This diverse group includes 21 members focused on development, 6 on the gaming business, 5 on global business development, 8 on platform management, and 3 dedicated to administrative support.
Iskra Leadership Background
Eugene Lee, CEO
Eugene is the driving force behind Iskra, serving as its CEO and uniting top-tier experts across diverse fields to transform the Iskra vision into reality. With a strong track record of success, he has spearheaded the launch of two blockchain projects, guided two startups from inception to success, and orchestrated a successful business exit.
Since 2016, Eugene has been a visionary leader in the blockchain space. As a technical executive, he played a crucial role in shaping the project, called “Icon”, which is often regarded as the "Korean Ethereum." Furthermore, Eugene led the development of the LINE LINK blockchain, the innovative blockchain platform behind LINE, Asia's leading messenger service.
Bob Kim, SVP
Bob leads Iskra's gaming business, driving the successful onboarding of high-quality and sustainable games onto the Iskra platform. With over 20 years of experience as a veteran in the gaming industry, Bob has held executive roles at top global gaming companies, including Netmarble and Hangame. His extensive network spans both Korea, a hub rich in content, and the broader global gaming industry.
Bob is recognized as a top-tier expert in game monetization. He demonstrated his exceptional leadership by scaling a business from $5 million to $313 million in annual sales within three years while overseeing the web board game division at Hangame. Additionally, Bob successfully led a social casino game company to an M&A exit with a publicly listed Korean company, just three years after founding the firm.
Spike Ryu, COO
Spike leads Iskra's platform business and service planning, while also overseeing critical management functions, including HR, general affairs, finance, and legal affairs. Drawing on his extensive experience, Spike has a proven track record of successfully launching and managing global services.
As the head of global service development for the globally acclaimed RPG game MapleStory, Spike successfully managed game services in over 60 countries. His leadership extends across major corporations in the United States, including KOG-LU Games USA, Disney Interactive, and LINE EA, where he directed global game services.
At LINE Plus, Spike leveraged his deep understanding of blockchain technology to oversee the Central Bank Digital Currency (CBDC) project for the Bank of Korea. His diverse experience and strategic insights make him a reliable leader in driving Iskra’s platform success.
Ben Colayco, CBO
Ben spearheads Iskra’s international expansion, driving strategic partnerships and fostering the growth of the global Iskra community. As a pioneering entrepreneur, Ben played a key role in introducing online video games to South America, Southeast Asia, and India in the early 2000s.
With a proven ability to structure and lead organizations, Ben has successfully managed teams of 400 people across three continents. Over more than a decade in game publishing, he founded and grew Level Up! into a major industry player, which was eventually acquired by Tencent. Under his leadership, the company became part of a portfolio that includes some of the most widely played video games globally.
Key Historic Milestones
2022: Fundraising and Game Platform Launch
- Secured $40 million USD in funding.
- Launched the Iskra portal, wallet, and bridge.
- Initiated P-NFT sales.
- Achieved the first CEX listing
2023: Game Launches and Infrastructure Expansion
- Expanded to a multi-chain platform, integrating both Base and Ethereum.
- Released 6 games on the Klaytn and Base platforms.
- Enhanced Web3 game platform functionalities.
2024: Platform Expansion and Strengthening Go-To-Market (GTM) Strategies
- Migrated the hub chain to Base.
- Made significant progress towards building an all-in-one platform by establishing a dedicated Layer 3 for gaming (50% complete).
- Launched the game "BBB (Brick Breaking Ball)”.
- Ongoing efforts to secure investments and token swaps to strengthen Web3 partnerships, with successful investments from Animoca Brands, Base Ecosystem Fund, GSR, and Planetarium. (Ongoing)
- Intensified Go-To-Market strategies for games, with the strategy for the new Grampus game, "Juicy Adventure,". (60% executed)
What is the project goal of Iskra?
Iskra is preparing for the mass adoption of WEB3 gaming and aims to lead this shift, not just benefit from it. The biggest challenge is the poor user experience (UX) caused by the complexity of blockchain technology, which limits both user and game developer engagement.
To overcome this, Iskra proposes two key solutions: creating an integrated "Omni-chain Gaming Hub" for easy access to WEB3 games and introducing the "Activity Finance" system to incentivize user participation. These steps are designed to create a positive cycle of growth and engagement in WEB3 gaming.
What is $ISK? What are its use cases?
Looking Ahead: $ISK Token Utility Expansion
In the latter half of 2024, we are excited to expand the utility of $ISK tokens across Iskra Platform. Here are what you can expect:
- Launch new games: We are set to launch five new games by the end of 2024, and two more confirmed for the first half of 2025. We are also actively sourcing new games.
- $ISK as a governance token of new games: $ISK will serve as governance token of new games and payment option for in-game items.
- More utilities: $ISK will be used as the base pair on DEXs, reinforcing its role as a key currency within the Iskra Platform including the Market and Launchpad.
What sets Iskra apart from other Web3 projects?
- Chainless UX: Omni-Chain Gaming Hub
Problem:
The biggest challenge to widespread adoption of WEB3 gaming is the fragmented game ecosystem, with games scattered across multiple blockchains like Base, Solana, and opBNB. This fragmentation complicates the user experience (UX) as users must navigate different chains, which hampers seamless gameplay and interactions.
Solution:
Iskra proposes the Omni-chain Gaming Hub, a platform that allows users to play games across different blockchains as if they were on a single chain. This "Chainless UX" simplifies interactions between games, gamers, and assets, improving user experience and lowering the entry barrier for newcomers.
- Strong Incentive System: Activity Finance (ActFi)
Problem:
While improving UX is essential, it is challenging to match Web2 standards quickly due to blockchain’s complexity. Many WEB3 games fail to attract users because they don't provide sufficient incentives, and misuse of token incentive pools leads to budget cuts and dissatisfied high-value users.
Solution:
Activity Finance (ActFi) addresses this by linking user activities to rewards, allowing games to assess user value and reward valuable users appropriately. This system incentivizes active participation and creates a positive cycle, attracting more high-value users to the platform.
What can we expect from Iskra this 2024?
In May 2024, Iskra announced a community proposal named "ISKRA 2.0." According to this proposal, Iskra proposes two main strategic directions for platform development under the vision of leading the era of popularization of Web3 games by lowering the barrier to entry from a gamer's perspective.
1. Creating a space where users who resonate with Web3 values can more easily access Web3 games.
- Migration to Consumer-Enriched BASE Chain (Completed)
- LayerZero-Powered Omni-Chain Gaming Hub (On-going)
2. Strengthening the incentive system to encourage more gamers to participate and continuously accumulate value on the platform.
- ActFi Incentive System (Planned)
Additionally, in May 2024, Iskra, together with the global crypto research firm 4Pillars, published an article titled "The Manifesto of ISKRA 2.0 for Web3 Gaming Adoption." We encourage you to explore this article to gain insights into the future of Web3 gaming envisioned by Iskra.
