SKARA ICO Review – SKRT Investment Analysis

ICO Details

Symbol – SKRT


When – January 23 2018

Soft Cap – None

Hard Cap – 10 Million EUR

Total Max Market Cap At ICO – ~14 Million EUR

Exchange Rate: 1 ETH = 1’000 SKRT (plus additional presale bonuses)


Skara is a video game that has been in developement for several years, being a successful early stage prototype and moving on to build out the complete game and featureset. One of the innovations of Skara is their use of blockchain to tokenize their in-game assets and register them on the blockchain, and while this isn’t a novel idea (look at Databits and Nexium, which I will reference later on), it’s a great use of blockchain and its capabilities.

DoTA, League of Legends, Overwatch, and the recent competitor PUBG – with all of these titles it becomes apparent that PvP is the hot thing right now, with players looking to up their game and esports becoming a global phenomenon. Take League of Legends for example, going from a small basketball court competition to host their North American regionals at Madison Square Garden – the growth in this sector has been insane, and not just for individual games. Blizzard Entertainment is now valuing a position for their Overwatch League at around 1 Million USD per slot, and, with the success of platforms such as Twitch, the viewership for these titles only continue to grow.

So, why did I spend an entire paragraph talking about all of that? Because Skara is positioning themselves to be an upcoming contender in this area, a PvP title that is focused on esports and competitive gaming, and with an original concept as well:


Taken from their whitepaper, we get a general idea of the concept and vision that the Skara team is looking to achieve with their game:

Video games are everywhere. Not only are more people playing games than
ever before, but more people are watching them and even winning money
competing in them. The global phenomenon has received the attention of media and
corporations, who increasingly benefit from involvement in the industry as sponsors, partners, owners and investors. However, few truly benefit from the economic gains associated with all of this activity – until now.

SKARA is a new entertainment universe that includes a multiplayer competitive eSports platform, narrative role playing (RPG) games and mobile apps in a rich fantasy world described in a series of novels to be published January 2018.
We propose embedding blockchain at the heart of the SKARA ecosystem, in order to decentralize the benefits of participating in the games, both  casually and competitively.

Connecting the rewards for participating in the SKARA community to the larger community is a huge benefit to everyone. We believe this is the future for gaming.




Cesar Ortega-Domene

With three degrees in engineering and an MBA from The University of Oxford, Cesar brings a unique skill set developed over his vast career. In 2008 he transitioned into Corporate and Investment Banking for several global financial institutions where he was responsible for marketing and business development for 11 countries.


Pablo Rodriguez

CEO, Co-Founder and Studio Head, Pablo has a BA in Fine Arts and has worked on SKARA for the last six years. He has 15 years’ experience developing video games from concept to market and teaches a Master in Video Games at Alicante University.


Víctor Moreno

Victor is a full-stack Engineer with a focus on Research and Development. Victor has a deep passion for crypto technology and video games. He has worked with Pablo since 2009 and recently rejoined the the team af ter sending an iPhone into space on Project Horizon.

Generally with these kind of projects I expect a team that is more reflecting of the lower key nature of the concept – that being said, I was pleasantly surprised to see a lot of the people who are backing the Skara token to be seasoned professionals and more than just a conglomerate of college graduates looking to start their first big idea. The team gives me much more confidence moving forward on this project and I have to say it’s a pleasant change to see a truly great team work on a smaller project such as this.


Taken from the Telegram, as well as the videos and various social media posts, we can see that the Skara game is essentially already complete – that means that there is no real “vaporware” doubts into this investment, and we will be able to actually see the results  very early on. Skara is poised to be released this February (just next month!) in open beta and will certainly be a more anticipated game than most, given its already proven track record:


It’s rare that a game pulls off the statistics that you see above – around half of the players who play a game past the first three hours is definitely one of the interesting things here. As a gamer, it’s certainly hard for me to find a new game and play it beyond even the first hour or so, as gameplay often bores me. It’s great to see that the Skara team is transparent with these statistics, as it means they are much more confident in their game.

Finally, the token metrics themselves are simply well done – many projects are looking to downsize their raises in a contrarian bid to make their projects succeed post ICO, and Skara is one step ahead with their terms. They’re capping themselves to 10 Million EUR, which is an extremely low valuation even if their hard cap is hit. As a comparison point, Nexium is sitting at around a 35 Million USD valuation – around three times as much as the total hardcap of Skara will be. In addition, as the game will be entering open beta next month, Skara looks to roll out most of their core features by June of this year, making it very competitive with Nexium’s Beyond the Void offering.


One of the negatives of these kind of projects are the dependence on the game itself to be successful – I recall a Nexium livestream of Beyond the Void where the price absolutely crashed upon livestreaming of the game itself – it simply could not live to the hype that it was building at the time. The success of the token as an investment will again depend entirely on the game’s success. To that end, we have a few statistics such as the amount of players who were on the beta and a few other factors that make an investor additionally confident. Being a gamer myself, I’ve seen a few gaming phenomena come from nothing, such as Undertale, League of Legends, and others – we’ve yet to see a blockchain enabled project that really shines and goes viral in such a manner. Could Skara be the one?

Another negative to this project is the release timing of the crowdsale – while I’m certainly no oracle myself, I was absolutely not surprised to see the sheer volume of new projects and ICO’s coming out in January. This negatively affects Skara particularly because there are so many new projects and teams to invest in, it making a Skara suggestion a much more difficult ask. It would have made a lot more sense to me if the sale was timed more appropriately, such that it was during a down period of other ICO’s competing for investor money to make the sale a bigger success. That being said, while it’s certainly negative for the team itself, it could work in an investor’s favor if this project gets passed over by too many people and becomes a super low cap pick.



Skara certainly won’t be a project that goes 100x after investment – it simply lacks the potential. That being said, while I am personally averse to “gaming” coins or cryptos in that sector (one look at Databits will tell you why), recent performance from newer coins such as Enjin have challenged my previous conceptions. There is absolutely certainty that eventually we will have a game that will utilize blockchain and move on to be extremely successful – that will, however, depend on the game. In that sense an investment into Skara is less of an investment into the team, token economics, or crowd hype, but rather a more inherently abstract one, an investment into the game itself.

Investment Grade: 75%

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