GameCredits – Revolutionizing In-Game Payments and Monetization
Backed by GameCredits Inc., a company based in Belgrade, Serbia, the GameCredits project aims to build a blockchain-based mobile gaming store to compete with conventional Android app stores such as Google Play and Amazon Appstore.
GameCredits reckons it can improve the gaming industry by leveraging blockchain technology to offer better services and terms to both developers and gamers. The GameCredits project will use $GAME, a cryptocurrency created in 2014, as its digital token.
The project has already achieved some key milestones. For instance, it launched its mobile store (MobileGo) and payment gateway in Q2 2017 and Q4 2016 respectively. The latter was intended to facilitate in-game purchases on Fragoria an online game and community with nearly 8 million gamers. Additionally, GameCredits has recently partnered with Unity, a leader in game development tools and software.
@Gamecredits and @unity3d entered the partnership!
This is the REAL turning point that ONCE and FOREVER puts the things in place declaring that if you talk about Gaming&Esport&Blockchain than you talk about Gnation with its digital assets!
There are no alternatives.
Game is on! pic.twitter.com/PNc7bHj2H6— Sergey Sholom (@sergeysholom) October 24, 2017
Understanding the F2P Global Gaming Market Problems
According to Juniper Research’s annual report, the digital games market will generate revenues of about $100 billion in 2017 alone. By 2021, this figure will grow to about $132 billion. The main growth drivers for digital gaming are mobile gaming and the “free-to-play (F2P)” model, says Juniper.
However, mobile gaming currently holds the largest market share by far, explains Piers Harding-Rolls, director and head of games research at IHS Technology. In fact, according to Piers, the growth of mobile gaming has caused a decline in the PC games segment, with gamers increasingly preferring the former. This is particularly true in Asian markets including China and South Korea where PC gaming was so dominant before the introduction of mobile gaming and the free-to-play model.
Despite this impressive growth, the leading app stores including Google Play, Amazon Appstore, and Apple Store, typically take a 30% commission on all in-game purchases. This means developers and publishers lose 30% of their revenues to these app stores.
Moreover, these app markets generally take anywhere from 30 to 60 days to pay out the developers reliant on that revenue. This means developers who sell their apps on these stores have to wait for at least a month to get their money when they sell games on these markets. Even worse, some app stores have a payout threshold, which means developers have to sell a certain amount of app downloads in order to get their money.
Unfortunately, these factors can create cash flow problems for developers, especially the indie game developers. Other challenges that developers and publishers have to contend with when selling their free-to-play games on conventional app markets include consumer apathy due to credit card fraud and interruptions during game play to make purchases.
GameCredits Can Help the Mobile Gaming Community
Powered by blockchain technology, GameCredits (GAME) will offer both developers and gamers the advantages associated with blockchain technology.
For developers and publishers, GameCredits makes in app purchases quicker with zero chargebacks and zero fraud, offers significantly lower commission fees (10%), rewards developers faster using their decentralized currency in less than three days, greater scalability, cross promotion opportunities, enhanced blockchain security, as well as seamless integration of credits in one game to another.
For gamers, GAME offers a seamless in-game payment solution, higher deposit limits, more deposit options, incentives, anonymity, a way to store value, and fast payouts.
The GameCredits ICO Recap
Launched in February 2014, the GameCredits cryptocurrency project (GAME) was financed through traditional funds rather than by an initial coin offering (ICO). However, on April 25, 2017, GameCredits held an ICO for its Ethereum-based token called MobileGo.
The MobileGo ICO, which remained open for one month, was highly successful, raising $53 million dollars. MobileGo will allow members of the GameCredits community to create smart contracts within the GameCredits ecosystem.
GameCredits Current Products and Roadmap
GameCredits has already launched several products including GNation, GPlay and GWallet, AppMarka, MobileGo and PixelWars. What’s more, they’re working on additional products that it hopes to release soon. These products include GShare, GExchange and Game.GG.
The Team Behind GameCredits and MobileGo
The GamesCredits management team consists of 19 individuals, many of which have been working together for years. Some of key team members include Sergey Sholom (CEO), Maxim Sholom (Product Director), Alex Migitko (COO) and Milos Solujic (Chief Software Architect).
To learn more about the experienced team behind GameCredits, visit their main website.
Investing in GameCredits
GameCredits has a clear and comprehensible business model. This means, with the right business strategy, it is likely to profit from the ever growing and highly lucrative digital gaming industry. What’s more, only a limited number of $GAME tokens are created and circulated, meaning it is likely they will be more valuable over time, especially if it gains widespread adoption, which is possible in the digital gaming space.
Moreover, you can use GAME to gain bonuses and it will be the native coin of the GameCredits mobile store. Overall, GAME seems like a good medium to long-term investment. However, before you invest in GAME, ensure you do your own research and gather as much information as you can about the project.
2017 has been a big year for GameCredits with their token price starting at $0.21 USD in early January and reaching a high of around $4.79 USD in June. With this recent pull back in price, it could be a good time to invest during the end of the year. But as always, do your research and due diligence before deciding to trade $GAME.
Staying Connected With GameCredits
GameCredits is active on both social media and YouTube. Follow and subscribe to their channels and pages for the latest news and updates on GAME.
Facebook: https://www.facebook.com/gamecredits/
Twitter: https://twitter.com/gamecredits
Youtube: https://www.youtube.com/channel/UCzkC8rkM38sxpuPcnyr1lXg
Discord: https://discordapp.com/invite/vDEYBTc
Telegram: https://t.me/gamecreditsglobal
GameCredits: What We Think?
We’re excited about the future of decentralized gaming platforms and markets, so we’ll be following GameCredits closely. We’re also feeling positive about the GameCredits management team, which has been working together for years.
The company has already launched some blockchain-products and working hard to launch more products in the near future so there’s evidence effort is being put in to grow the company and expand deliverables.
Disclosure: Author of this post holds $GAME tokens at the time this review was published.
