Before we start going into the details and review of today’s ICO, we need to provide our readers with some statistics. For some people, project related to games made for entertainment and to be played during your spare time, may not sound that promising or most importantly, profitable. However, with the whole esport industry, playing games has become something more than childish activity and for some is even considered a full job right now. 2.3 Billion people play games every day. The gaming industry reached $100 billions of revenue in the last year. We associate assets only with business stocks, some physical goods of value and nowadays also digital cryptocurrencies. But within these seemingly innocent games there are a lot of items of worth that many players are ready to buy. There are even people who treat trading these virtual items just like market trading of any asset.
DMarket wants to provide users with a platform where such trading of game-related assets and digital items of value can take place. There isn’t in fact any proper tool or facility for users to sell their items, nevertheless in last year, players managed to trade items worth $3 billion in total. And there are still 94% of all players that could be trading, but can’t.
DMarket describes themselves as “a decentralized marketplace for turning every virtual item into a real commodity”. Many people familiar with the gaming industry has probably heard of the biggest game management platform, called Steam, which in a way started the whole trading market. They enable users to sell and buy the digital items, however the money stays within the platform. Therefore, what’s the point of making millions if you can use it only for buying games or other items. DMarket has noticed that the players are keen on trading and that they would like to be able to withdraw the money, that’s why they will be able to sell and buy the items with DMarket cryptocurrency, which can later be traded on exchanges for other currencies.
They want to provide game developers with all the necessary tools and API to make it easy to join any game into the system. That way every virtual item is turned into a good of real value. Moreover, as the market is regulated by demand, it is also a chance for game developers to come up with new and interesting items for their games. That will also extend the life of a game, as servers of many titles after a year or two become empty and players get bored with the game. New updates, items and possibility of making real money can make the game interesting for longer period of time.
Wallet and blockchain
Every gamer who wants to use the platform, will get their own digital wallet connected to the blockchain. That way, only the player has access to it’s tokens and items. As the developers want their users to contribute to the platform, through wallet users will be able to help in making decisions on important matters, new features and future of the platform. Every digital item will get their own smart-contract signing. That way it can get it’s value also depending on the year of creation, previous users, important games that it’s been used in. A fan can get an item from his favourite player or streamer. He can then show off to his friends and other players that he have that famous armor. Maybe a rare weapon from esport championship finals?
Earning through gaming
A possibility of selling that particularly interesting armor, weapon or clothes for a game character can even turn into a whole business, where a player can “work” in game, by getting these items through various challenges or other in-game tasks, and then selling them to other players. The profit doesn’t have to be immediately cashed out, but the money can be used to buy items in other game. That way a whole ecosystem can be developed where players can even trade items from one game for items from totally different game from different developer. It’s like someone would sell their Minecraft sword and buy a gun in CS-GO for it.
Token sale includes two phases with the next one starting at the 3rd of November and will last relatively short, because it will end on the 17th of November. So in case you are interested, it’s better to grab the tokens quickly. The token exchange rate will be set at 1 ETH being 750 DMarket Tokens.
The team behind the project is very experienced when it comes to the gaming industry from the business and trading perspective. The Founder of the project, as a private merchant of digital games, has sold over 15 million titles. He has previously founded a platform for trading of virtual items. The Co-founder is very experienced in the esports industry, with founding and shareholding very popular and successful esport world’s team. They know how the gaming industry works and that’s why they were able to notice the market need for such platform. Apart from them, there is a very big team of developers, programmers, blockchain specialists, but also graphic designers and advertisement and marketing specialists. They seem like the people to successfully deliver a working product.
To sum up, there potential market and trading opportunities are enormous and not yet explored. There are still many users that could be trading, but there is no proper facility or platform for them. Some people may be concerned that with Steam being the biggest platform on the market, it’s hard to compete with them, however DMarket can offer what Steam can’t, which is monetizing your trading profit. It can also benefit from the whole blockchain technology, it’s transparency and security. Gaming industry generates billions of dollars of revenue and with such platform both game developers and the players can benefit.
If you want to see what TokenTops users and other ICO experts think about this project, check out DMarket TokenTops profile with all the ratings and reviews.