In a real world, when you become an owner of some kind of commodity, you could expect that this thing will either raise or depreciate its value in years. For example, if you buy the autographed t-shirt of some singer you could resale it at 10 times higher price after a while, if the object of your admiration becomes a superstar of course, and if not, you could sell your merch for $1 at a garage sale.
In a world of virtual items, the market condition is far from that conditional freedom. Only 6% of gamers can buy, sell or exchange their gains. Imagine that you already don`t need that fictitious fan t-shirt and it becomes a dead weight with hundreds of other clothes in your wardrobe. And even if you certainly know that your neighbor or coworker dreams about all those things, you have left nothing to do but to keep all those staff at home.
In the in-gaming world such a restrictions occurred due to the fact that game platforms are not ready to offer their customers a function of trading. It is all about technology and security issues that hang like a double bladed sword of Damocles over the developer`s head. What to say about cross-platform market relations? They are locked for today.
project overcame two main issues of in-game trading, technological and security, by proposing a blockchain based marketplace solution. This platform totally can unite gamers with game developers and publishers with investors.
Technologies used
The DMarket project aims to ensure full transparency in trading operations. That is why blockchain technology is used as a decentralized data storage unit. At the moment, the system is being developed on Etherium, but in the future, this platform will be revised and most possibly replaced with a more economically robust one. Also, DMarket team pays a great attention to the scalability of smart contracts to build our own platform.
How will it work?
DMarket offers to carry out any kind of transactions with virtual items using DMarket tokens and smart contracts. Any gamer could come with his or her in-game capital and become an active member of a new economy. The DMarket tokens are distributed through the token sales. The first sale phase was held in August 2017 and raised 10.8blns in investments. The second phase will start in a month, on November 3rd , and after this, any DMarket token will be sold.
How could gaming industry change?
When gamers will find out that their gains become valuable it will embrace them to spend more time on mining and rare things hunt. Consequently, publishers and game developers will have to focus on attractive in-game products development. DMarket, from its side, is planning to spend 18% of its investments to stimulate the cost-effective and attractive business models creation for the in-game items stored on DMarket blockchain.
What are perspectives for investors?
There are 2.3 bln of gamers which recently are not involved into in-game items trade. DMarket opens the gate to $450bln worth money flow. By the Metcalf`s Law, the value of marketplace will grow to its users as the square of the total number of its members. So DMarket token has a significant potential to rise through the next few years.
Check out DMarket White Paper to find out more about the platform.
Disclosure: This is a Sponsored Article
