Startups

GameFlip – An Easy Way to Trade Digital Goods Intergames

Gaming Industry has amassed a considerable fortune over the years and it is predicted that the numbers will continue to rise. The online gaming sector is huge and consists of gamers from all over the world. Various gaming platforms are being published that incorporate different features and offer digital goods that are different from the others. Once you utilize those attributes in a single game, they cannot be liquidized to be used in another game. The hard work and time that is put into one game has no value once that game is switched. The infrastructure back then did not promote liquidity, transparency, and security required by gamers to purchase, sell or trade those hard-earned digital goods. Gameflip was introduced as a solution to the liquidity problem.

 

A group of very talented individuals who were previously top-notch gaming industry veterans and technological innovators, founded Gameflip in 2014 in the Silicon Valley, California, USA. It was funded by a pool of top tier investors and more than $10 million were raised. The platforms has diversified over the last two years and now integrated about 2 million registered users and 500,000 monthly active users.

Gameflip has been designed to cater to the two most important issues faced by the gamers.

The first one is that the digital goods that are purchased in a game carry no value in other games or gaming platforms. There is an absence of liquidity and transparency. A gamer that spends a lot of time and hard work, collecting rare collectibles and items wants that he can accumulate the advantages of those goods in other games as well, but as soon as a players stop playing a game all those long hours spent trying to get their hands on the uncommon figurines hold no value because their utility cannot be extended to any other game other than the one they got it from.

Nevertheless, some platforms let individuals exchange or trade their possessions or collectibles with each other. However, these transactions lack trust and transparency. An individual can easy con the other one into paying him for something he does not possess or simply denies to sell after collecting the cash. There are platforms that are meant for making this kind of transactions. They are entitled to the drawback that the platform does not ensure that a transaction is legit or not. It is done on one’s own risk.

Platforms like Steam allow its users to trade the collectibles, but it is exchanged using steam credit and does not hold value anywhere else except the Steam Platform.

Features Provided

The Gameflip is a blockchain based platform and a marketplace that lets gamers all over the world trade digital assets in a seamless and secure way. It ensures a stable peer-to-peer exchange of object safe from beguilement. Through the distributed Ledger technology, gamers can now sell and purchase digital goods and assets over a number of games ranging from PC games to mobile games.

It provides the following features,

  • It can detect and prevent fraudulent transactions
  • It provides access to a multitude of platforms from the laptop or through iOS or Android mobile devices.
  • Users can rate the seller and can communicate with them for service or support
  • It provides inventory management tools and API access to sell with ease.
  • It provides a wide range of items from digital goods from computers to those on mobiles.

Team Of Developers

Gameflip has been a joint effort of a number of brilliant and clever minds who have come together to build this exceptional blockchain based platform. JT Nguyen, CEO and co-founder of Gameflip, is a successful serial entrepreneur. With over 15 years of experience building and managing businesses, he has also worked 10 long years in the gaming industry. Formerly, Nguyen was the COO of Aeria Games, a global publisher and developer of free-to-play games which accumulated a lot of popularity and success under his ingenious leadership. Terry Ngo is the CTO as well as a co-founder. He also has somewhat of a superstar resume, which boasts 19 years of experience, building and leading engineering and product development, including 11 years in the gaming industry. Terry has worked along with Nguyen at Aeria Games serving as a CTO and co-founder. With their joint effort Aeria games flourished to became one of the top ranking online gaming website.

Among the advisors is Richard Melmom, emeritus partner at Bullpen Capital co-founder of Electronic Arts (USA). Richard is also an avid investor. He is widely known for co-founding electronic arts. Another notable name in the board of advisors is Kotaro Yamagishi, the CEO of Keio Innovation Initiative, Inc. and board nember and co-founder of GREE, Inc. based in Japan.

Initial Coin Offering

The Initial Coin Offering of Gameflip accumulated a lot of success unlike many other doomed blockchain projects. The company made the announcement of the sale of its token FLIP token on October 13, 2017. The token leverages Ethereum blockchain, has an ERC-20 token interface, and can be conveniently stored in an Ethereum wallet. This was to be the pre-sale of token, which lasted for 7 days. The main sale was scheduled to be for an entire month, from November 1, 2017 to November 29, 2017.

The total supply of FLIP is a 100 million. That being said, more tokens will not be generated once it hard caps. Gameflip exceeded its pre-sale goal a earned by a whopping 112% and had to delay the sale, for one month because of the eagerness of gamers all around the world to purchase their tokens and avail the services offered by the glorious platform.

The sale, as mentioned was started on December 4, 2018 and was not halted on the pre-mentioned date because it hard capped at 12,000 ETH and was subsequently extended for 72 more hours.

Roadmap

The extensive roadmap of Gameflip has been provide below.

The whitepaper is also available on its website for all to view.

All in all, the gaming industry is thriving which provides a unique opportunity for Gameflip to keep on providing innovative solution to all the gamers in need. The inclusion of blockchain to ensure safe and seamless transactions of digital assets over multitude of gaming platforms has proved to be quite fruitful for the game developers and publishers as well as for the gaming community. Through Gameflip, gamers are able to put all those playing hours to good use.

 

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Habibah Shahid

A Computer Science student but a writer at heart. Habibah writes about Cryptocurrencies and the underlying technology, Blockchain, with the perspective of a Computer Scientist. Email: habibah@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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