GameCoin aims to increase the revenue of the gaming industry by 3 times – or 300 billion dollars per year. It aims to allow players to earn money from their hobby. And, within a year, the developers claim the capitalization of GameCoin will “exceed and billion dollars and will continue to grow rapidly.”
Obviously, these are some ambitious goals, so let’s take a closer look at how GameCoin plans to accomplish these things.
GameCoin is being proposed as a way to monetize the world of free gaming. The GameCoin whitepaper explains that the majority of gaming revenue comes from 10% of users. Today, developers are struggling to monetize the remaining 90% of users. GameCoin claims to have found a way to do that using blockchain technology.
Basically, GameCoin’s idea is to allow each game developer to create their own cryptocurrency. This cryptocurrency is used as in-game money. The developers can create this cryptocurrency at virtually no cost to themselves – it’s just a digital token that has value in the game. However, by the time it circulates through gamers, the token will have value because it can be used to pay for in-game items.
In more straightforward terms, GameCoin plans to make it easy for developers to create a secure in-game currency. It appears that these cryptocurrencies will operate as forks on the GameCoin blockchain. Each developer will be able to make their own fork – so gamers can easily apply their GWC tokens to any game of their choice (the GameCoin wallet will support all forks).
The company provides an open API to integrate gaming algorithms with the system. Based on this, the game developer replaces the virtual game money with the generated cryptocurrency. From this moment, all the efforts and time spent by users of the game to achieve certain results, generate a certain amount of crypto currency credited to users' wallets. At the same time, defeats, unsuccessful decisions lead to its burning. Using these game money, cryptocurrency, gamers can pay for subscription, license, exchange for game items,pay for skins, send to someone or convert to Fiat and withdraw their money.
- Wallet: GameCoin will have GWC wallets for mobile and desktop devices. The wallet will support GMC and its forks. It will also have 2FA, email confirmation, SMS confirmation (for an additional price), and cold storage support.
- Marketplace: The GameCoin marketplace will collect and organize information about different cryptocurrencies involved in the GameCoin ecosystem. All buyers and sellers are organized into one simple, unified environment.
GameCoin plans were to issue 625,000,000 GMC tokens. The tokens were be priced at 0.0001 ETH. 74% of the total supply were going to investors. 10% each were going to the founders and developers. 4% were going to key partners and game makers, and 2% were reserved for the bounty campaign.
The GameCoin ICO was scheduled for September 29, 2017. Bonuses were available based on your ETH contribution (starting at a 10% bonus for 30 to 50 ETH).
See Also on BitcoinWiki
- https://bitcoinexchangeguide.com/gamecoin/ BitcoinExchangeGuide – GameCoin