Virtual goods are non-physical objects and money purchased for use in online communities or online games. Digital goods, on the other hand, may be a broader category including digital books, music, and movies. Virtual goods are intangible by definition. Including digital gift and digital clothing for avatars, virtual goods may be classified as services instead of goods and are usually sold by companies that operate social networking services, community sites, or online games. Sales of virtual goods are sometimes referred to as microtransactions, and the games that use this model are usually referred to as freemium (free + premium) games. Virtual items have value, and are purchased and sold by game players for real money in the real world. In fact, the current annual virtual goods market is worth $15B+.
As the online gaming and social media spaces continue to grow rapidly, there is exactly the kind of real-world, money-making opportunity available to brands willing to enter the bold new arena of virtual merchandise. However, there are certain problems with creating market of virtual goods. Today, digital platforms operate as closure of ecosystems, brands are fragmented operating in silos with little accessibility, the difficulty of licensing agreement, and each brand juggles considerably different brand objectives such as geographical location, demographics, licensing fees, marketing power, and attractiveness.
Introduce you to BLMP (Blockchain Licensing Marketplace). BLMP is a B2B2C blockchain technology company working in order to resolve inefficiencies in the market for virtual goods. By leveraging the blockchain technology, the companies connect global brands with digital platforms to create officially licensed virtual goods across any digital platform resulting in new revenues for brands and platforms. Branded monetization in digital platforms includes video games, mobile games, streaming services, and social media.
In order to provide the highest level of security to its customers, BLMP processes the end consumer transactions for the virtual goods items ensuring all parties involved are automatically compensated tractably, securely, and efficiently.
This Singapore-based company provides numerous benefits, include in:
Brand
By joining the BLMP network, brands can scale and expand their reach with better control over their partnerships while gaining granular insights that were previously impossible because of the lack of transaction transparency and traceability. BLMP intends to develop a network where brands can easily follow their intellectual property indefinitely on the blockchain all the way from product creation to eventual ownership to resale markets.Digital Platforms
For digital platforms, joining BLMP means keeping total creative freedom over their digital ecosystem with no restrictive or long-term licensing contracts. Digital platforms can pick and choose and only propose licensed virtual goods that they determine would be the right fit for their digital ecosystem. With this flexibility, digital platforms can expect to keep their existing revenues, get help with user retention, and gain additional income from licensed products for sale
whenever they choose.Customers
Customers benefit from companies joining the BLMP network because adoption becomes simple as they only need to manage one account which can be created within the digital platform of their choice without the need to fully understand crypto wallets. Customers can choose their favorite digital platform to create their account and then have access to that account across all other participating digital platforms. But more importantly, customers benefit because they get the freedom to purchase the things that they already love, everywhere.
Recently, the company has launched Epik Token. The Epik token will be used by consumers to acquire branded virtual goods. The Epik utility token aims to facilitate the creation, distribution, and sale of licensed virtual goods. By using the EPIK token for transactions, the company intends to enable brands, digital platforms, and consumers to track every purchased licensed virtual good indefinitely with full transparency.
This establishes uniform trust between all parties involved. Once both the brand and the digital platform come to agreement, smart contracts are created to automatically manage the creation, tokenization, distribution, and transactions of these virtual goods items between all parties.
The EPIK Token will be holding its ICO on August, 2018. The ICO token supply represents 50% of the total token supply, so there will be a total of 100,000,000 tokens available.
For more information about BLMP, you can visit the company online at https://www.blmp.network/, about company's project Epik Token visit https://www.epiktoken.io/, or visit the company whitepaper at https://www.epiktoken.io/assets/pdf/BLMP_whitepaper.pdf
About Author:
Bitcointalk Username: tpq01349
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1972940