The review of the new marketplace based on blockchain
For 13 years I have been playing video games. I’ve tried everything – from Counter Strike to World of Warcraft. To earn or create in-game items is a part of my gaming experience. It’s true that so-called 'crafting' is often a part of the gameplay, and that stands for creating objects in the game world such as clothing, equipment, vehicles, swords, guns, ammunition or even spaceships altogether with a multitude of things.Many games such as Counter Strike, Team Fortress 2, Dota or World of Warcraft not only allow players to earn various items but also allow to trade those within the game. These exchanges create in-game economies where some gamers earn virtual money, and then trade it for the items they want from the players who were lucky enough to get a rare drop during the game. Not all of the gamers are that lucky – more than 90% of them do not have the privilege to buy and sell their items. Therefore they do not have an opportunity to monetize their time spent in-game.
It seems that the guys from DMarket created a platform that will solve the problem.
What is DMarket
It is the first cross-game marketplace that allows gamers from all over the world to trade or exchange in-game goods originating from any gaming platform. As its CEO Vladimir Panchenko mentioned in one of his interviews: “DMarket will allow more than two billion gamers to buy and sell their items. Existing games and platforms are currently covering only 6% of gamers worldwide. We will give this opportunity to everybody”.Being a PRO-gamer I say that it is great.
How it became possible?
The answer is blockchain technology. It made everything possible. Before DMarket there were some platforms with the similar idea, but different approach. Technology actually lies at the core of the problem. To make trading possible on a large scale, hundreds of thousands of databases needed to be synchronized. DMarket is using a decentralized database on blockchain to address this. In the case of Dmarket, it would have been impossible to unite thousands of developers and millions of game universes without blockchain technology. At this point, blockchain and smart contracts are the only way to merge any game and any publisher into a single system.
The important part is that a sale or exchange of any virtual item from any game or platform can happen in one click. This turns each and every virtual item into real commodity for billions of gamers worldwide.
DMarket tokens
Yes, they have their own DMarket tokens. Every purchase, sale, exchange or any other transaction on their platform will require the use of DMarket tokens. New York Times has mentioned DMarket token in its fresh review on cryptocurrencies.
The first round of token sale, according to the company’s web, is planned for 17th of August. It will last only for 4 days. There will be the second round of sale in October, and that’s it. The company claims that the price for token in the second round will increase by 25%.
Why would you buy it? Well, it’s up to you. I know only that the amount of trading and exchanging transactions on the platform will naturally grow fast over time and so will grow the need for the tokens. And their amount will be limited. For me it is the best guarantee of value.
More about gaming and blockchain match in my next blog. Stay tuned!