DMarket Creates a New In-Game Economy that Exceeds $450 Billion
The first global marketplace for trading all virtual items based on blockchain and smart contracts, DMarket, announces its intention to create a new in-game items’ economy worth of more than $450 billion by giving to 2.3 billion gamers worldwide an opportunity to buy and sell in-game assets from any game on any platform.
[Note: This is a press release.]
“The estimated in-game trading turnover is $3 billion nowadays. And it works only for a couple of games. The core issue that locks in-game item market development is technology. During every other trade, hundreds of thousands of databases of every game and every publisher have to be synchronized with each other. Blockchain resolves this issue. By unlocking in-game item trading for all gamers globally, we create a new economy with a great number of possibilities.” said Volodymyr Panchenko, CEO and founder of DMarket.
Recently, in August 2017, DMarket launched its token sale phase one, which was very short in time. Nevertheless, only in 4 days, the company raised $10.9 million. The main DMarket token sale will be held in November 2017. The price will be 25% higher compared to the first phase (750 Tokens for 1 ETH). The company is not planning to hold an additional sale of tokens after the end of the second phase.
DMarket tokens will become the main currency for in-game economy. With DMarket tokens players from any game on any platform will be able to buy, sell, and exchange virtual items on the new marketplace.
Currently, the project is supported by prominent game development studios as 4A Games (Metro 2033, Metro: Last Light), GSC Game World (S.T.A.L.K.E.R, Cossacks series), Tatem Games (Carnivores, Vivisector, Cryostasis), and the Pantera Capital investment fund. Moreover, the company has been negotiating with dozens of major world publishers in order to sign agreements in the recent future.
The company’s official advisory board consists of leaders in the gaming and blockchain industries, as well as renowned investors. Oren Klaff (managing director at Intersection Capital), Brian Kerr (managing director at GL Ventures, founder and CEO of Fnatic Gear), Mo Levin (founder of the Keynote, startup and blockchain expert), Igor Matsanyuk (chairman at Games Insight, ex-vice president at Mail.ru, founder at IMI.VC and Farminers), Denis Dovgopoliy (founder of GrowthUP Group), Evgeniy Grygorovych (project leader at G SC Game World), Oleg Yavorsky (co-founder of Vostok Games), and Igor Karev (CEO at Tatem Games) are among them.
The cumulative revenue of the gaming market reached $100 billion in 2016. It is estimated that this sum will amount to $128 billion in 2020.
About the DMarket Team
- Volodymyr Panchenko is the founder and CEO of the DMarket. He is the #1 private merchant of computer games, with more than 15 million copies sold via eBay, G2A, and Kinguin in the past five years. He is also the founder of SkinsCash, the second largest marketplace for in-game items trading (more than 12 million items sold in 2016).
- Alexander “ZeroGravity” Kokhanovsky is the co-founder of the project with 17 years of experience in eSports, and the founder of Na’Vi (Natus Vincere), one of the most popular and successful eSports teams in the world. In 2016 he became a shareholder of ESForce Holdings, the third largest eSports establishment in the world with the total investments amounting to $100 million.
- Andrei Havrutchenko is the blockchain architect of the project with more than 26 years of experience in software development and four years of experience in cryptocurrency development. Andrei is the senior developer of the DASH cryptocurrency, which is included in the list of top 10 world cryptocurrencies with the market capitalization of $1,4 billion.
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Images courtesy of DMarket