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There are currently over 2.2 billion gamers in the world generating over $108.9 billion in revenue from in-game items, annually. This market is expected to be worth over $128 billion by 2020. However, most of the potentials of this market are still locked behind segregated platforms and centralized marketplace. Gamers invest both time and money to unlock in-game reward and earn rare items. However, the value of what they have invested so much into quickly sinks to zero as soon as they move to another game or platform. Unable to sell or transfer these investments, an estimated trillion dollar market is left to waste away.
“As a former publisher, and the CEO of one of the world’s biggest digital goods marketplaces, I’ve seen firsthand how many of the transactions on forum sites like Reddit end up scamming the gamer” says JT Nguyen, CEO and Co-Founder of Gameflip, “(players) are often so discouraged that they leave the game altogether.”
Founded in 2014 and based in Silicon Valley, Gameflip is set to unleash the potentials of a trillion dollar marketplace for gamers and publishers. Developed by a veteran team with proven track records and backed by expert advisors, Gameflip is developing a fully transparent and frictionless infrastructure for transacting digital goods.
Gameflip has raised over $10 million from venture capital investors to build one of the largest digital goods marketplace platform in the world. This platform boasts over 500,000 monthly activity and has more than 2 million registered users.
How Gameflip Rules Them All
Gameflip’s unique insight into the gaming industry has enabled the company recognizes the importance of working directly with game publishers to create a frictionless marketplace. Without publishers, there would be no assets for players to own. They are the gatekeeper of the industry, yet gaming marketplace solutions keep ignoring them or relegating them to the background.
With 10+ years in the gaming industry and extensive working relationships with world-class companies like Electronic Arts, Disney, Ubisoft, Perfect World, Nexon, Sony, Square Enix, and many more, Gameflip has the expertise, connection and infrastructure to unite the gaming industry through a decentralized peer-to-peer platform where gamers can buy, sell, trade, and reward.
Flipping The Game
Leveraging the immutability of blockchain technology and the assured security of smart contracts, Gameflip has developed a native, ERC20 compatible cryptocurrency to power all settlements on the ecosystem, the FLIP token.
FLIP enables game publishers to create new streams of revenue and community-based reward systems frictionlessly across platforms and games. They are also able to use the blockchain as a multi-game database, securely storing all digital goods and tracking who player ownership, a first in the industry. Ownership of digital assets will encourage gamers to invest more into the game, driving a free-flowing digital economy and ensuring that the values of these goods continue to appreciate.
A Paradigm Shift
Gameflip is poised to disrupt the traditional marketplace, enabling gamers and publishers to seamlessly store and exchange virtual assets in a fraud-free ecosystem. And the industry has been overwhelmingly supportive of this bold, new paradigm shift. A private pre-sale event to gauge community support and interest successfully ended with over 3000 ETH raised!
Based on this response, Gameflip is proud to announce its main ICO scheduled to start on December 4. The token sale aims to raise 15,000 ETH for the further development of its ecosystem and business synergy.