PMW Whitepaper_v2.4_Eng

V2.4 (Repot type in English)

ZeroTo Quantum

Photon Space Foundation

Completed in revised form on the 14th of February, 2022; Available online from 14th of February, 2023

Table of Contents

Executive Summary 4

1. Background 7

1.1 The Rapid Growth of the Gaming Industry After COVID-19 7

1.2 Three Problems in the Mobile Gaming Industry 8

1.3 Solution 13

2. AuroraHunt Platform 16

2.1 AuroraHunt’s Value Proposition 16

2.2 The Backbone of the AuroraHunt Platform: WEB 3.0 16

2.3 Why the Blockchain? 16

3. Business Model 18

3.1 Revenue Model 18

3.2 Profit Maximization Plan 18

4. AuroraHunt Tokenomics 21

4.1 Types of Tokens on the AuroraHunt Platform 21

4.2 Determining Compensation Amounts Based on Activities 22

4.3 NFT Purchases 22

4.4 Inflation & Deflation 22

5. Policy 24

5.1 Account Creation and KYC 24

5.2 Personal Wallets 24

5.3 Account Deletion 25

6. Technical Matters 26

6.1 AuroraHunt Platform Services 26

6.2 Security and Authentication 26

6.3 Statistics and Indicators 28

6.4 Global Services 28

7. Token Information 30

7.1 Initial Token Distribution 30

7.2 Lock-up Schedule 31

8. Business Roadmap 32

9. Team & Partners 33

9.1 Key Members 33

9.2 Oversea Core Members 34

9.3 Partners 35

10. Legal 37

Executive Summary

The rapidly growing global gaming industry has shown even steeper growth since COVID-19. Analysis of the 2020 global gaming industry’s consumer spending data shows that the total size of the industry is estimated to reach $180.3 billion. Additionally, reports predict that this growth is expected to reach $300 billion by 2027. Since the beginning of 2019, the number of daily users of PC and console games has increased by 62% and the number of daily users of mobile games has increased by 74%.

There are three problems in the rapidly growing mobile gaming market:

1. Deteriorating profitability for video game companies: As the gaming industry is dominated by large platforms, most developers deal with unreasonable profit structures. In an attempt to break away from such structures, developers have entered market platforms such as Google's Google Play and Apple's App Store. However, the game companies are still seeing limited profits due to market oversaturation, operating and marketing costs, and high platform fees.

2. Uncompensated game users: Companies that own gaming platforms display outstanding growth. The driving force behind such rapid growth is the 'user'. However, while users play the most important role in the platform’s growth, they only receive a non-monetary reward of 'joy', and it is difficult to expect monetary compensation. The failure to compensate users financially leads to the creation of a system, where users remain as consumers but cannot become partners that grow with the platform.

3. Lack of options for game users: Currently, the decisions for selecting games to be published on platforms are not made by users that enjoy gaming, but rather the platform-owned companies with the aim of generating profits. Therefore, platform companies select games that they invested in or games in which the possibility of profit generation is high. As a result of this, the platform is flooded with analogous trend-following games, and the user’s taste in games is dictated by the platform company.

To tackle this problem, in addition to regular games, AuroraHunt intends to develop a P2E open gaming platform by utilizing PMW to provide rewards for users depending on the contributed time and labor. This offers three solutions:

1. Generation of additional profits for video game companies through the token economy: The revenue structure native to existing game platforms will remain the same for video game companies. However, in addition, video game companies can generate additional revenue with tokens, as the company’s game is played via the token economy.

2. Monetary compensation of users through the token economy: According to the specific contributions to the platform's growth, users can gain benefits through monetary compensation. Users can play games, earn Game Point as rewards according to the input time and labor, and earn monetary compensation by swapping them into PMW (Photon Milky Way) within AuroraHunt. In other words, users on the AuroraHunt platform are not just consumers, but partners that grow together.

3. An open platform that guarantees the users’ freedom of choice: AuroraHunt aims for a transparently operating platform. Video game companies register game content through AuroraHunt’s developer website, and the platform intervenes minimally throughout this process. In addition, this offers users the opportunity to experience and fairly evaluate a variety of games. The time spent in games, the number of sales and the reviews are all stored on the block and ranked according to these criteria, removing the possibility of ranking manipulation. In other words, AuroraHunt is a Web 3.0 open platform that is owned by the users, operated by the users, and for the users.

AuroraHunt presents a novel blockchain technology-based Web 3.0 market platform.

1. WEB 3.0:

WEB 1.0 - The beginning of the World Wide Web and the internet can be described with a core utility of “read” only. The World Wide Web is a static, non-interactive web page.

WEB 2.0 - Interactivity through “reading and writing” is present. Users can freely post information but also read the information posted by other users. YouTube and other social media platforms are examples of this functionality and exemplify the current stage of the internet.

WEB 3.0 - With the addition of the concept of 'ownership' to WEB 2.0, it becomes WEB 3.0. Despite WEB 2.0 sharing some aspects of information ownership, it operates in a structurally centralized manner. WEB 3.0 decentralizes the storage of data through distributed supercomputing, and the data is owned by its authors. Its decentralized structure is made possible by the Semantic Web and blockchain technology. WEB 3.0 is free from centralized control, as the data is encrypted and owned.

2. Platform Coin: A blockchain created for providing and granting access to various services. Ethereum serves as an example of a “Platform Coin”, allowing the development of and access to various Dapps (Decentralized Application).

3. ERC-20: PMW was developed based on ERC-20 tokens, enabling various payments in games and platforms, including NFTs within AuroraHunt. ERC-20 stands for Ethereum Request for Comments 20 and is a standard specification for ensuring the compatibility of tokens distributed over the Ethereum network.

Revenue Model: AuroraHunt generates revenue through user payments and advertising within the platform. To maximize profits, we will work with business partners such as developers and advertisers, and we will ensure the satisfaction of our users through smooth platform operations and token rewards.

AuroraHunt Economy: The AuroraHunt platform offers three goods: PMW (Photon Milky Way), Game Point and Game Money. In the future, PMW will be listed on an external exchange and used as the primary payment method for Game Money on the AuroraHunt platform, and it is a key currency that swaps with Game Point acquired in the game. Game Point is compensation as follows the contribution to platform growth, and Game Money is used to purchase in-game items.

1. Background

1.1 The Rapid Growth of the Gaming Industry After COVID-19

The size of the global gaming industry continues to expand. In particular, the mobile gaming market has grown about threefold over the past six years in comparison to 2014 and is expected to reach $136 billion by 2022 (Figure 1). Additionally, in 2020, the global number of mobile gamers increased significantly as a result of COVID-19, and this trend does not appear to be just a temporary uptick. Many mobile gamers who started playing after the first COVID-19 outbreak still partake in mobile gaming today. 70% of people report having spent more time on mobile gaming.

<Figure 1> Global Consumer Spending on Gaming

As social distancing caused people to seek new forms of entertainment, the number of new gamers increased exponentially all over the globe. In order to understand the impact, it’s essential to look at how many more people have been playing games since the outbreak of COVID-19.

The US has gained 28 million new gamers, with mobile gaming increasing by about 28%. These numbers are 8.6 million in the UK, 9.4 million in South Korea, and 6.5 million in Germany, with mobile game usage increasing between 25-50% in the aforementioned countries.

In the US, UK, and Germany, new gamers are much younger than existing gamers. On the other hand, in South Korea, new gamers tend to be older than existing gamers. However, the gender distribution is similar across all markets, and new gamers in the US are likely to own game consoles.

Around 64% of new gamers in the US purchased a game console, while 54% of already existing gamers owned consoles. Germany shows similar distribution with a ratio of 55:45. In the UK, the same was true for both comparison groups at a ratio of 64:36, and in Korea, this ratio sits at 34:66 (Figure 2).

A common characteristic of new gamers that emerged after COVID-19 is the tendency of spending more hours gaming on a weekly basis compared to existing gamers. While it’s reported that new and existing gamers have a similar number of weekly gaming sessions, it turns out that for new gamers the time spent per session is longer than those of existing gamers.

<Figure 2 > Global Gamer Growth Rate

As such, many new gamers have emerged after COVID-19 and the gaming market continues to expand, however, various problems still exist.

1.2 Three Problems in the Mobile Gaming Industry

As mentioned above, despite the rapid growth of the gaming industry, several problems have not been addressed. Specifically, first, the deterioration of profitability for game developers, second, uncompensated mobile gamers, and third, the lack of options for mobile gamers.

To understand the problems in detail, we must first examine the elements that make up the gaming industry. The gaming industry is largely composed of game development companies, platforms, and users (Figure 3). A game development company is an operation that not only develops new mobile games and keeps already released games up to date, but also hosts events. The platform refers to a place that allows for the registration of completed games and acts as a place for users to access and enjoy these games. The users refer to the individuals who play the games produced by game development companies.

<Figure 3 > Main Actors in the Mobile Gaming Market

Among the three problems pointed out in this paper, the first is related to the game development companies, the second is related to the user, and the third is related to both of the aforementioned components.

1.2.1 Deteriorating Profitability for Video Game Companies

The biggest problem for game development companies is that their profits are limited. In the early days of the mobile gaming industry, development companies and platforms generated revenue by giving users the possibility to purchase games registered on the platform. The user selected a game registered on the platform at a set price, paid the corresponding amount, and then downloaded and enjoyed the game with unlimited access. However, this method of purchasing games for a fee has acted as a barrier to entry for some users. It has created difficulties for younger users who lack payment methods such as credit cards to purchase games, and users who have had a preference for free games have hesitated to pay for games. In addition, even if a user purchases a game, the user’s expenditure on a game is limited to a single transaction, as this purchase grants the user unlimited access to the game. If the influx of new users slows down after a certain period after the release of the game, the revenue of the developer and the platform will inevitably decrease regardless of the game’s popularity. As a result, development companies have come up with a revenue model that induces continuous spending from its users, so instead of offering free games, platforms and developers created revenue streams through in-app purchases or in-app advertisements.

Recently, the aforementioned methods of providing games free of cost have become common. Developers and platforms generate profits by offering additional services, such as offering the possibility to buy various items while playing games (in-app purchases), or through a method in which advertisements are shown to users on the platform or within a game (in-app advertisements). Development companies and platforms generate revenue through these methods. However, even when utilizing these methods, only about 10-30% of the total revenue is distributed to the game developers and their profits are therefore still limited (Figure 4). The profits are distributed between PGs (payment gateway - an electronic payment system), platforms, and game development companies. First, about 10% of the revenue is paid to a PG company as a fee for payment, then 70-85% of the remaining revenue is paid to the platform, and only 15-30% is allocated to the developer.

<Figure 4 > Revenue Distribution Methods of Gaming Platforms

Due to the imbalance in revenue distribution, the returns for game development companies in the platform-based gaming market are bound to be limited. Despite the limited profits from gaming platforms, game development companies have had to develop additional revenue models to cover costs, as game developers continue to incur costs from the development of subsequent games, game updates, and event planning. Against this background, as an alternative to generating additional revenue, a method of directly releasing games on an application market (hereafter referred to as an app store) such as Google's Play Store or Apple's App Store has emerged. In the aforementioned method of directly releasing games on the app market by the developers, 70% of the revenue is allocated to the developer and 30% is distributed to the companies that own the app store, such as Google or Apple (Figure 5). In addition to the gaming platform method, through the method of directly releasing games to the app market, the game developer’s return per sale could more than double from 10-30% to 70%.

<Figure 5 > App Store Revenue Distribution Method

However, releasing games directly on the app market also did not lead to increased profits. This is because there are new costs to be borne by game developers. This additional cost issue stems from the fact that the app store merely provides a place to post the games. Specifically, the game development company must bear additional costs in the three following ways. First, the game’s operating costs increase significantly. This is because the companies that own gaming platforms provide all the indirect services necessary for the overall operation of the game, such as customer service, QA (Quality Assurance), and interface server operations, but the companies that own app markets do not provide these services. Second, there are issues regarding marketing and public relations. Companies that own a gaming platform actively promote games on behalf of the game development company, but companies that own an app market do not promote the game separately. Third, the cost of developing games increases. This is because, unlike developing a game for a game platform, when developing a game for an app market, games must be produced individually for different operating systems (e.g., Android and iOS). Therefore, the aforementioned costs inevitably become a significant burden for game development companies attempting to enter the game markets of app stores.

As a result, game development companies face a difficult situation of being unable to generate more than a certain amount of revenue on both the gaming platforms and the app markets.

1.2.2 Uncompensated Mobile Game Users

From the user's point of view, the issue lies in the fact that it is difficult to expect monetary rewards through mobile games. This is worth pointing out as a problem because, given the rapid sales growth of mobile platform-owning companies, the contribution of their users is not taken into account in their success.

The “user” can be considered the biggest driving force behind companies that own mobile platforms, such as Google’s Play Store and Apple’s App Store. This is because the revenue of the mobile platform is generated from the users' in-app purchases, their exposure to advertisements, and their direct purchases of games. In this recent mobile game market, there are two main types of revenue generated by users. First, through in-app payment services, where users pay for various items or additional services while enjoying mobile games. Second, through advertising revenue, where various types of advertisements are displayed on the platform and within the game. Revenue is generated for the game developer and the platform according to the amount of user traffic or the amount clicks for each advertisement. In addition, users spend a considerable amount of time playing the offered games.

Users contribute to the revenue growth of mobile platforms in a variety of ways, however, the users receive no monetary benefit from this. Most of the revenue generated by users goes to the companies that own the mobile platforms and users only receive a non-monetary reward of entertainment through playing the game. While some users may enjoy the game and gain financial benefits through item trading, this process is a reward created by the user's own efforts, not a reward paid to the user by the mobile platform. Failure to offer monetary compensation means that the platform’s users remain only as consumers and promotes the idea that users cannot be partners in growing with the platform.

1.2.3 Lack of Options for Mobile Game Users

Finally, the third problem relates to the rights of the users. As mentioned above, they not only generate revenue in the mobile gaming market but are also crucial assets that actively play the offered games. However, on gaming platforms, the users’ rights for choosing games are quite limited. This presents a problem because it is the gaming platform, not the user, who selects the games to be published on the platform (Figure 5). Limits on the users’ selection of games are directly related to the developer's inability to freely register games, which reveals the problems created by the current platform game registration method. As the gaming platforms are operated by profit-seeking companies, they have no choice but to invest heavily in games that are expected to generate high sales. As a result of this, the platform is flooded with analogous trend-following games. This can be compared to the phenomenon in which large theaters focus on running Hollywood blockbusters to increase their sales. When blockbuster films monopolize theaters, it deprives the audience of the choice to watch independent or low-budget films. Likewise, gaming platform users, without their knowledge, lose their right to choose from and enjoy a wide range of games. Therefore, their taste in games becomes dictated by the gaming platform (Figure 6).

<Figure 6 > The Gaming Platform Game Release Process and Users' Limited Options

1.3 Solution

AuroraHunt has been developed based on a philosophy for solving these issues. Specifically, AuroraHunt provides developers with additional revenue generation methods through the token economy, and second, provides the users with financial rewards that have not been available before. Third, by adopting the open global platform method, users are guaranteed the opportunity to freely choose between diverse games, and developers are guaranteed the freedom to register games. Let's look at each solution in detail.

1.3.1 Generating Additional Revenue for Developers via the Token Economy

As pointed out earlier, game development companies are facing a situation where it is difficult to generate profits on both the gaming platforms and the app stores. AuroraHunt will provide additional revenue from token utilization, and through higher sales shares than the existing Google Play Store or Apple's App Store. This ensures developers stable profits from the initial launch of the platform (Figure 7).

<Figure 7 > Additional Revenue Generated by Game Developers Through AuroraHunt’s Token Economy

First, the game point is provided to developers launching games on the AuroraHunt platform. The exact amount of game points offered to the developer is determined through consultation.

In order to generate better profits for the AuroraHunt platform and the developers, AuroraHunt will focus on increasing its market size through active overseas expansion. The market activity will commence from Southeast Asia and intends to not only expand throughout Asia but also to North America, South America and Europe. The initial market focus will be on Southeast Asia. First of all, the Southeast Asian market has the optimal market size for AuroraHunt. P2E (Play To Earn) games produced by Korean game development companies are seeing remarkable success in Southeast Asian and South American markets.

The 'NFT Acceptance Report' selected major countries by continent and surveyed 29,000 people in 20 countries. According to the report, the Philippines (32%) had the highest NFT acceptance, while Southeast Asian countries such as Thailand (26.6%), Malaysia (23.9%), and Vietnam (17.4%) showed relatively high acceptance. In addition, South American countries such as Brazil (12.1%), Venezuela (10.6%), Peru (9.9%), and Colombia (8.4%) were also ranked near the top. According to a market research company, a P2E version of Company N’s (name hidden) product entered the top ranks in Southeast Asia, including No. 1 in Thailand's app store sales rankings, No. 2 in Indonesia's, and No. 3 in the Philippines within a day of launch.

1.3.2 Monetary Compensation of Users Through the Token Economy

The AuroraHunt platform can maximize user satisfaction by providing monetary compensation. In the current way that platforms operate, users help platforms generate revenue but do not receive monetary compensation for their contribution. However, on the AuroraHunt platform, users can receive not only non-monetary benefits, such as entertainment but also monetary compensation through the token economy.

1.3.3 An Open Platform That Guarantees Freedom of Choice for Users

AuroraHunt aims to operate a transparent platform. With the current gaming platform system, users have without their knowledge lost the right to choose from and enjoy a wide range of games, and their preference in games has become dictated by the gaming platforms. To solve this problem, first, in AuroraHunt, the game isn’t selected by the platform, but the developers register the games directly by utilizing “smart contracts”. AuroraHunt aims for minimal intervention in this process (Figure 8). AuroraHunt only reviews the game to the extent that it can be assured that users can access the game without issues, such as whether there are any gameplay problems or malicious code, and that the game is compliant with the review regulations.

<Figure 8 > AuroraHunt’s Game Release Process and the Users’ Options

Second, users fairly evaluate the games freely registered by the developers. The time spent in games, the number of sales, and the reviews are all stored on an encrypted block and ranked according to these criteria, removing the possibility of ranking manipulation. Only the games truly preferred by the users are ranked at the top. In other words, AuroraHunt is an open platform that is owned by the users, operated by the users, and for the users.

1.3.4 A Platform Where the Users’ Ideas Become Games

Via AuroraHunt, any gamer can become involved in the development process. Beginning with just an idea of "How about a game like this?", a development team can be created through the "I am also a developer" menu, allowing users' ideas to become released as games within AuroraHunt. This feature allows for the creation of a team with other users who’d like to develop a game based off of a user’s idea. Teams created by users allow for the development of games according to the team's own policies and enable the generation of profits. Games developed through these methods can be evaluated in various ways by users and developers within AuroraHunt and contributors can receive rewards, such as prize money and marketing support through a quarterly selection of excellent works.

2. AuroraHunt Platform

2.1 AuroraHunt’s Value Proposition

AuroraHunt is a global WEB 3.0-based open content platform. AuroraHunt starts from the philosophy of providing reasonable rewards to content developers and users who contribute to the growth of the platform. By utilizing blockchain technology, AuroraHunt intends to provide developers stability, better profits and greater autonomy in publishing their creations and provides its users with unparalleled financial benefits. With these goals, we plan to launch the global AuroraHunt platform by applying blockchain technology to a WEB 3.0-based content distribution platform. Through this, we intend to evolve beyond a simple gaming platform by addressing the issues prevalent in the existing system and by building a platform ecosystem that grows together with its participants (the developers & users).

2.2 The Backbone of the AuroraHunt Platform: WEB 3.0

As the AuroraHunt platform is based on WEB 3.0, data is distributed, stored, and traded through the blockchain, making it virtually impossible to hack and is considered a safe and futuristic technology. The diversely developing metaverse and constantly attention-grabbing NFTs are some examples of WEB 3.0 in practical use. In addition to its strengths for gaming purposes, NFTs are being utilized in various fields such as the metaverse, avatars in virtual spaces, P2E in-game item trading, and for the trading of sound rights.

This is consistent with the “user-owned” concept of WEB 3.0 and AuroraHunt’s philosophy of offering compensation to its developers and users.

2.3 Why the Blockchain?

2.3.1 Ensuring Transparency for Game Registration and Rewards

Developers face various difficulties when attempting to register a game on a major gaming platform. This stems from the fact that platforms hope to publish games that are 'highly profitable' and games they’ve 'invested in directly'. Despite suiting the preferences of some users, games that do not match these criteria will not be registered on the platform. Therefore, the users’ game selection or taste becomes dictated by the game platform.

AuroraHunt uses blockchain technology to solve these issues and operates the platform transparently. First, it provides developers with convenience and freedom in registering games by minimizing intervention by the platform. The developer enters into a contract with AuroraHunt according to a predetermined distribution structure through the smart contract function. Granted there are no issues with malicious code, game policies, ethics, human rights, the review process or the functionality of the game, developers can register the desired games without intervention from the platform. Second, the blockchain is used to ensure data integrity within the platform. This is made possible by designing the system in such a way where the data on time spent in games and the received rewards are all stored in the block, ensuring that modification or manipulation is impossible. Furthermore, by giving users access to view such information, it establishes a platform with transparency.

2.3.2 Compensation Through the Token Economy

Utilizing the blockchain makes it possible to provide transparency in token-based financial compensation. As mentioned earlier, users spend considerable amounts of time and money playing games but only receive non-monetary benefits of joy and entertainment. Participants of the AuroraHunt platform are eligible to receive compensation for their contributions to the growth of the platform while performing their respective tasks and activities. AuroraHunt uses an algorithm to measure a user’s contribution to the active games on the platform and rewards them accordingly. This algorithm has been developed as a novel tool to measure the contributions of participants. The growth of a platform can be confirmed through quantitative indicators such as sales and operating profits, however, it has been difficult to quantitatively confirm the extent to which the participants contributed to the growth of the platform.

3. Business Model

3.1 Revenue Model

The revenue model is largely divided by in-platform cash PMW payments and advertising revenue.

3.1.1 Platform Cash (PMW - Photon Milky Way) Payment

All payments, including payments for NFTs, can be made within the AuroraHunt platform via PMW.

3.1.2 Promotion

There are three types of advertisements available on AuroraHunt. 1. banner advertisements on the platform page, 2. in-app advertisements that appear during gameplay, and 3. promotional advertisements for event registration and rewards. These three types of advertisements consist of tailored advertisements that use the results from analyzing personal information (gender, age, e-mail address, etc.) and gameplay data with consent from the users. With personalized advertising, advertisers can effectively promote their games to their target audience. When a game developer uses a promotion, the RS (revenue share) ratio must be adjusted or a separate marketing promotion usage fee must be determined according to the agreement.

3.2 Profit Maximization Plan

Securing business partners and users are essential to maximizing platform cash (platform currency) transactions and advertising revenue. To this end, the following user and business partner acquisition strategies will be established and implemented (Figure 9).

<Figure 9 > Strategies for Securing Users and Business Partners

3.2.1 Strategies for Acquiring Business Partners

AuroraHunt's business partners include developers and advertisers. A brief overview of the strategies for continuously securing both are as follows (Table 4). First, it provides smart contract functions to developers. The smart contract is a function that predetermines the terms of a game registration contract on the platform in advance, automatically becoming a contract when the conditions are met. Using this feature, developers can register games easily and inexpensively. Additionally, on top of in-app payment revenue for developers, additional Game Point rewards will be provided for providing game services on the platform. In this way, by securing developers, various P2E games will be created. Second, targeted advertisements are provided so that advertisers can maximize their effectiveness. The platform provides targeted advertisements according to the needs of advertisers by utilizing the personal information and data of users who have given prior consent. However, user data is not provided to the advertisers.

	Strategy	Benefit
Developer	Smart Contracts	Various P2E games
Advertiser	Targeted advertising	Securing targeted users
User	Various rewards	Rewards for gaming and engaging in marketing

<Table 4> AuroraHunt’s Business Partner Acquisition Strategy and the Expected Results

3.2.2 Issuing Game Content NFTs

Issuance of NFTs for games registered on AuroraHunt

For games registered in AuroraHunt, a game NFT can be issued and minted in consultation with the developer. The fees and returns from sales for NFT issuances are also distributed according to consultations with the developer.

3.2.3 User Acquisition Strategy

As shown below, AuroraHunt's strategy for acquiring users is to offer rewards and entertainment (Table 5). First, benefits are given to users playing the games. Within AuroraHunt, in addition to the non-monetary reward of a feeling of accomplishment, users can receive benefits via gameplay. This is expected to naturally attract the attention of the users. Second, we operate a self-run community. Users’ needs are identified through the community and addressed promptly to resolve complaints. Third, various events are provided at the platform level. Through this, we expect not only an influx of new users but also increased loyalties of existing users. Fourth, various themes are provided for every age and genre, so that users can conveniently select and enjoy games that suit their taste.

	Strategy	Benefit
Token Economy	Game currency rewards	Increased user interest
Operation	Self-run community	Resolution of user complaints
Offering various events	Influx of new users, increased loyalty
Providing themes by age and genre	Increased user convenience

<Table 5> AuroraHunt’s User Acquisition Strategy and Expected Results

4. AuroraHunt Tokenomics

4.1 Types of Tokens on the AuroraHunt Platform

The following are the types of tokens on the AuroraHunt platform: PMW (Photon Milky Way), Game Point and Game Money.

4.1.1 PMW (Photon Milky Way)

PMW is a key currency that can be used to pay on the AuroraHunt platform. It can also be moved to external wallets or exchanges, and will be available for exchange for other cryptocurrencies or fiat currencies (according to the specific policy of the exchange) (Figure 12).

<Figure 12> Usage and Roles of PMW, Game Point and Game Money

4.1.2 Game Point

The game point is goods that are paid as compensation according to the contribution to the growth of the AuroraHunt platform and can be swapped with PMW within the AuroraHunt platform. (Figure 12) Swap rate of game points and PMW will be announced on public channel.

4.1.3 Game Money

Game money is a currency used to purchase in-game items to acquire additional Game Point and can be purchased through PMW (Figure 12).

4.2 Determining Compensation Amounts Based on Activities

In essence, Game Point rewards are distributed through active gameplay on AuroraHunt. In addition, if a user owns a game-specific NFT, additional Game Point can be collected via the game. In other words, the development company compensates the user with Game Point according to the specific policy set by said company.

4.3 NFT Purchases

AuroraHunt NFTs can be traded via its internal exchange, an NFT marketplace called 'NOVA Hatcher' and external exchange ‘Open Sea’. In other words, all NFTs can be traded between users and on external markets and a total of two NFTs: game NFTs, AuroraHunt platform NFTs can be purchased via ETH or PMW.

4.4 Inflation & Deflation

The AuroraHunt token ecosystem has several policies regarding inflation and deflation. These policies work together to develop AuroraHunt's token ecosystem.

4.4.1 Inflation

(1) PMW and Game Point Swap Provided as Compensation

The Game Point as compensation is issued and compensated in consultation with the developer, however, PMW is not provided as compensation. Game Point paid through this method can be exchanged for PMW on the platform’s internal exchange.

4.4.2 Deflation

(1) PMW Burning

Some of the units circulated on the AuroraHunt platform are to be incinerated, thereby causing deflation. Each quarter, some of the PMW distributed within the AuroraHunt platform will be incinerated, and reports on the results of the incineration are to be prepared and released to the platform and community.

(2) Game Point Consumption

The Game Point provided as rewards are either consumed when using game services on the platform or accumulated on the AuroraHunt platform through swaps for PMW. After the exchange, PMW to be used for deflation purposes is purchased and then incinerated, thereby causing deflation. Currently, AuroraHunt has partnerships and contracts with various game developers to provide game content and will later provide a service that will allow payment via Game Point within the game content. In the future, AuroraHunt will secure a variety of game content, enabling the services to be used with the rewarded Game Point.

5. Policy

5.1 Account Creation and KYC

Accounts assigned by AuroraHunt are divided into administrators, developers, and user accounts according to their respective roles within the platform. Among these accounts, the administrator account belongs to AuroraHunt.

5.1.1 Developer Accounts

To register and distribute games within the AuroraHunt platform, a developer-only account must be created through a series of steps. This process is referred to as KYC (Know Your Customer) and this process helps identify the type of developer AuroraHunt has partnered with. For this process, the exact company name, banking, and account information for payment, the company location, tax information, etc. are required. When all the procedures have been completed, a developer page can be created and games can be registered using the smart contract process. Registered games undergo basic inspection on AuroraHunt, during which the developer may engage in activities to attract customers. AuroraHunt reviews whether the developer adheres to community guidelines, whether the developer's game plays expectedly, and whether there is any malicious code in the game.

5.1.2 User Accounts

Like developers, users can create accounts on AuroraHunt. A user's account is created through membership registration, and an e-mail verification is required upon registering as a new member. In addition, in the case of Korea, mobile phone identification will be required.

5.2 Personal Wallets

Through the KYC process, the user will be issued a personal wallet and a private key for accessing it. Using this personal wallet, users can engage in various activities within the AuroraHunt platform. First, on AuroraHunt, members can freely transfer PMW from their personal wallets to the wallets of other members without a commission. Second, fees will be incurred when withdrawing PMW held at AuroraHunt and sent to an external exchange or an external personal wallet. Third, fees are incurred when purchasing PMW through an external exchange and depositing it into an AuroraHunt personal wallet. Finally, on AuroraHunt, members can exchange the PMW or Game Point in their wallet at their convenience.

5.3 Account Deletion

Users are free to delete their accounts. However, if there is a remaining PMW or Game Point balance in the user’s personal wallet at the time of the withdrawal request, the deletion will proceed after confirming the token balance and the member’s identity through e-mail and additional confirmation methods. Remaining PMW and Game Point in a deleted account will be burned.

6. Technical Matters

Technical matters address the entire service and system. Specifically, AuroraHunt’s platform services, security and authentication, utilization of statistical indicators, system modularization and future policies, global services, blockchain framework, etc. will be examined.

6.1 AuroraHunt Platform Services

The AuroraHunt platform services are divided into the platform’s self-service and game services. The platform’s self-service refers to services performed for managing members, token information, advertisements, and internal exchanges. Game services refer to all services related to PC games, HTML5 games, mobile games, and P2E games. The details are as follows.

6.1.1 Self-Service

The platform's self-service refers to the overall internal ecosystem of the platform that allows for the operation of games and the combining of them with blockchain technology. Game services operating on the platform are controlled so that it can only be accessed via AuroraHunt's PMW blockchain and an API (Application Programming Interface).

6.1.2 Game Services

AuroraHunt's main content is PC games, HTML5 games, mobile games, and P2E games. Developers providing such game services request the platform’s member data and payment information and this information must be linked to AuroraHunt's self-service system. Therefore, when registering games on the AuroraHunt system, game developers must use the API for linking members. In the case of P2E games, game services can be launched only when a separate AuroraHunt blockchain integration API is assigned.

6.2 Security and Authentication

AuroraHunt is strictly managed according to our internal security policy. The AuroraHunt platform does not allow any illegal or malicious external access. The following describes the firewall and network security of AuroraHunt’s security and authentication system, web or SQL injection attack response, the blockchain and encryption algorithm, the API and SDK, SSL, SSO, OAuth, and cookies.

6.2.1 Firewall and Network Security

Firewalls are the most basic and essential elements in systems and networks. Appropriate firewall policies not only strengthen the security element of the systems and operating networks but also enable them to block a great deal of attempted illegal access. In addition, we leverage a Virtual Private Network (VPN) to provide in-depth system configuration for security and access with internal access authentication and leveling.

(1) Software Firewall

Despite the various types of software firewalls available on the market, AuroraHunt's entire firewall is based on a self-developed OS system.

(2) Hardware Firewall

The flexible hardware firewall system runs the firewall port of the switch equipment installed on the system and network, improving the ease of platform management by introducing additional operating systems like ACLs (Access Control Lists).

(3) Illegal Program Prevention Software

This software prevents manipulation of gameplay, login records, etc. using programs not authorized by the game or platform. The activation period of the illegal program prevention software will be determined after reviewing customer service records and other related operation indicators. The main scope of the software is as follows:

• Block-based trade and internal exchanges

• Game hacking and abuse prevention tools

• Program for determining time spent in-game

(4) Internal security management using VPN

All system administrators and operators access the servers and systems by using assigned VPN accounts. Therefore, should a security issue occur, the system makes it possible to check by whom the route was accessed and caused the non-system level operational issue, thereby making immediate action possible.

6.2.2 Web or SQL (Structured Query Language) Injection Attack Response

AuroraHunt is structurally divided into a blockchain-based distributed processing platform and an HTML5 gaming platform. A basic and widely known attack against infrastructure of this type is an injection attack aimed at databases by utilizing the web and SQL. To prevent this, AuroraHunt establishes program development, setting, and maintenance policies to the limited range permitted on the platform. Through this, we will respond to (1) injection attacks through URL calls on the web and (2) security issues that occur in the process of calling APIs and referencing SDKs.

Various attack issues (invalid requests) are generally blocked immediately upon discovery, and valid traffic (valid requests) is appropriately distributed and managed to internal web servers to provide services to users. When an issue occurs in AuroraHunt's control system (application gateway), the security center suggests an inspection. When the proposal is delivered, the internal security experts analyze the logs loaded into the control system, track the events, identify security issues, and respond to them according to the relevant policies.

6.2.3 Blockchain and Cryptographic Algorithms

Within all the internal and external communications of AuroraHunt, member information, game data, and sensitive rewards-related data are encrypted and stored as blockchain information. Among them, in the case of data with a relatively low security level or data that requires external interworking, the corresponding encryption information may be decrypted and used.

The encryption algorithm double-encrypts data by mixing AES (Advanced Encryption Standard) and SHA-1 (Secure Hash Algorithm-1) encryption, and the private key is possessed by every developer and partner. In the event of utilizing a public key, it is only applied to general models using the provided API protocol. In the event of a Remote Code Execution (RCE) attack in which the same encryption key is retained and reused, security matters are cross-checked according to real-time environment variables.

6.3 Statistics and Indicators

6.3.1 Internal Statistics and Indicators

Internal statistics and indicators are sensitive to disclosure to the outside world, but if disclosure is deemed necessary, they will be disclosed through appropriate procedures. To prevent legal issues and provide better services to users, the corresponding indicators are automatically collected with the user's prior consent. The scope of the collection and the use of internal statistics and indicators are limited only to the users and developers.

6.3.2 External Statistics and Indicators via the platform.

6.4 Global Services

The global AuroraHunt platform requires the following system and network operation-specific policies to provide better services to all of our worldwide users:

• Network latency-free use in serviceable areas

• CS (Customer Service) operations for addressing technical issues that occur during service use

• Delivering stable and reliable services by providing web, firewall, security server, Content Delivery Network (CDN) and image server services

External statistics and indicators are data that must be disclosed fairly and transparently. This includes not only sales, settlements, and member usage data disclosed to developers, but also all the data that is regularly disclosed to users and the marke

6.4.1 Multi-Language Support

Users who connect to AuroraHunt are assigned a platform language based on their GeoIP (a method of automatically determining the region of the connecting user). In addition, users may directly select a language according to their preferences. However, users will only be able to access the content made available to them according to the specific legal, social, and cultural aspects of the country.

6.4.2 Backend System

The AuroraHunt backend system is partially open to developers. Based on the information disclosed to the developers, problems occurring on the platform can be addressed in a more timely manner. In the backend system, developers can easily review the various indicators of every individual game or content without SDK linkage.

7. Token Information

7.1 Initial Token Distribution

Total issue volume	1,000,000,000 PMW (100%)
Name	Photon Milky Way
Symbol	PMW
Ecosystem	100,000,000 PMW (10%)
Marketing	200,000,000 PMW (20%)
Partners	100,000,000 PMW (10%)
Advisors	50,000,000 PMW (5%)
Team	150,000,000 PMW (15%)
Foundation	50,000,000 PMW (5%)
Sale	350,000,000 PMW (35%)

<Table 10> AuroraHunt Token Overview

All matters related to PMW are transparently managed by being announced on the Photon Milky Way website (https://Photon-MilkyWay.com) and other official social media channels.

7.2 Lock-up Schedule

8. Business Roadmap

9. Team & Partners

9.1 Key Members

Ramon Lee l CEO & CTO l Lead Tech

ZeroTo Quantum l Founder

Pet Point Asia l Founder

Lamate Corp l Founder

Blockchain l Big Data l Game Development & Publishing l AI

Education l Gwangwoon University l Computer Science

Sean Kim l CSO l Lead Strategy

Skylab Holding l CTO

Instart Logic Inc l Advisor

Lazada Group l Senior VP, Infrastructure

Cloud Computing laaS l Product Lifecycle Management l Product Management

Education l University of Illinois Urbana-Champaign l Master of Computer Science

Daren Kang l CMO l Lead Marketing

1TM l Founder

Doers & Dreamers l Founder

NHN l Regional Head, Greater China

Digital Marketing l Online Marketing l Market Research

Education l National Chengchi University in Taiwan l International MBA

Denny Min l CGO l Lead Game Development

Vuifang l Founder

Perugia Corp l Vice President

Uniz Soft l Chief of Game Development

P2E Game l HTML5 Game l IOS & AOS Game I Design over 40 Games

Education l Sangmyung University l Master of Game Design

HyoJun(Jun) Seo l CCO l Lead Contents

WAAW Global Studio Founder

Cleave Festival London, Seoul Street Art Festival, U2 The Joshua Tree Tour Seoul

Contents Creator l Performance Maker l Artist

Education l Goldsmiths College, University of London in The United Kingdom I Master of Arts

l University of Leeds in The United Kingdom l Master of Arts

9.2 Oversea Core Members

Simon Kim l China Mainland Market

Sitc l Founder

Education l Peking University l MBA

Soonbong Lee l Japanese Market

Perugia JP Founder l CMO

Experts of distribution awards in Alibaba

2019~2022 best e-commerce partner of Rakuten

Erko Elblaus l European Market

Perugia Corp l Global Business Manager

Education l Korea University l Master of International Studies

Angie Liao l U.S. Market

Astogaz l Co-founder

Education l University of Washington l Global Business

Vank l Asia-Pacific Market

GBC l Co-founder

KGI Bank l PBO Assistant Manager

9.3 Partners

10. Legal

10.1 This draft of the white paper has been prepared for consultation and preliminary information purposes and is provided solely for reference. The information contained in this white paper is subject to change, and no part of this white paper is legally binding or enforceable, and it is not intended to be binding or enforceable.

10.2 Acquiring PMW and Game Point is possible after agreeing to the terms and conditions of the token sale. The acquisition of PMW/Game Point does not imply that the acquisition of virtual currency can be exchanged for shares of AuroraHunt (including its affiliates), nor may PMW/Game Point holders claim dividends from AuroraHunt (including its affiliates). PMW/Game Point are issued on the premise that they are not treated as securities in any jurisdiction. This white paper was written on the premise that it should not be treated as an investment prospectus or any other kind of application document in any jurisdiction, nor as an application for securities or investment rights in securities. In other words, this white paper is provided for informational purposes only, and the contents of this white paper are not to be treated as investment promotion activities. Therefore, any information in this white paper does not function to solicit or induce any form of investment activity.

10.3 The information in this white paper has not been reviewed or approved by any regulatory authority. No activity has, and will not be, conducted in any jurisdiction for review or approval by the regulatory authorities in accordance with relevant laws and sub-regulations. The publication or distribution of this white paper does not imply that any relevant laws and sub-regulations have been complied with. To the extent permitted by relevant statutes and sub-regulations, AuroraHunt, its affiliates, their respective employees, advisors, and agents will not cover any type of damage, including direct damage, consequential damage, special or indirect damage (including but not limited to damage caused by loss of future profits, reduced profits or liability to third parties, etc. whether foreseeable or not, resulting from the transaction or the use or non-provision of the website and PMW/Game Point).

10.4 Some statements in this White Paper contain predictive information that only reflects the current views on plan execution, financial performance, business strategy, and future plans concerning AuroraHunt and the industries in which AuroraHunt operates. All predictive statements contain issues in which business risks and uncertainties exist. Accordingly, the statements in this white paper contain or include major factors that can cause notable differences between AuroraHunt's actual business performance and the statements in this white paper. All forward-looking statements in this white paper reflect AuroraHunt's current view of future events and are subject to change due to business risks, uncertainties, and revised assumptions regarding operational status, operational performance, and growth strategies. These forward-looking statements are made solely as of the writing date of this white paper. No statement in this paper shall be treated as a revenue forecast, nor shall it be construed that AuroraHunt's current or future financial performance will be at the level mentioned in this paper.