GameCoin promises to unite all games of the world under one currency called GMC. Find out how it plans to do that today in our review.
What is GameCoin?
GameCoin, found online at GameCoin.global, is a digital currency targeted towards the gaming community. GMC tokens go on sale at the end of September through the GameCoin ICO.
GameCoin aims to increase the revenue of the gaming industry by 3 times – or 300 billion dollars per year. It aims to allow players to earn money from their hobby. And, within a year, the developers claim the capitalization of GameCoin will “exceed and billion dollars and will continue to grow rapidly.”
Obviously, these are some ambitious goals, so let’s take a closer look at how GameCoin plans to accomplish these things.
How Does GameCoin Work?
GameCoin is being proposed as a way to monetize the world of free gaming. The GameCoin whitepaper explains that the majority of gaming revenue comes from 10% of users. Today, developers are struggling to monetize the remaining 90% of users. GameCoin claims to have found a way to do that using blockchain technology.
Basically, GameCoin’s idea is to allow each game developer to create their own cryptocurrency. This cryptocurrency is used as in-game money. The developers can create this cryptocurrency at virtually no cost to themselves – it’s just a digital token that has value in the game. However, by the time it circulates through gamers, the token will have value because it can be used to pay for in-game items.
In more straightforward terms, GameCoin plans to make it easy for developers to create a secure in-game currency. It appears that these cryptocurrencies will operate as forks on the GameCoin blockchain. Each developer will be able to make their own fork – so gamers can easily apply their GWC tokens to any game of their choice (the GameCoin wallet will support all forks).
Wallet: GameCoin will have GWC wallets for mobile and desktop devices. The wallet will support GMC and its forks. It will also have 2FA, email confirmation, SMS confirmation (for an additional price), and cold storage support.
Marketplace: The GameCoin marketplace will collect and organize information about different cryptocurrencies involved in the GameCoin ecosystem. All buyers and sellers are organized into one simple, unified environment.
The GameCoin ICO
GameCoin plans to issue 625,000,000 GMC tokens. The tokens will be priced at 0.0001 ETH.
74% of the total supply is going to investors. 10% each is going to the founders and developers. 4% is going to key partners and game makers, and 2% is reserved for the bounty campaign.
The GameCoin ICO is scheduled for September 29, 2017. Bonuses are available based on your ETH contribution (starting at a 10% bonus for 30 to 50 ETH).
Who’s Behind GameCoin?
GameCoin is being developed by a company called FrentaxPro Group OU. The company doesn’t appear to have any product or service in place right now: the first stage of its timeline starts at the ICO in September 2017.
Estonian corporation registration documents tell us that FrentaxPro is based in Tallinn, Estonia, although there’s limited information about the company available overall.
It’s unusual for a company to start an ICO based exclusively on an idea. Typically, we’d like to see some type of minimum viable product (MVP) in place. Nevertheless, GameCoin has scheduled all of its development targets for October 2017 to January 2018, during which it plans to develop the game blockchain, release a GMC wallet for mobile and desktop, and begin pilot testing.
The company is led by Founder Alexander Maldenstein and CTO Alexandr Radchuk. A number of PR specialists, developers, and blockchain technologists are also listed in the whitepaper.
GameCoin is an ambitious concept that aims to unique the in-game currencies of the gaming industry onto one blockchain. The GameCoin blockchain will enable developers to create their own “forks” of the blockchain, then use those forks as their in-game currency.
The unusual thing about GameCoin is that right now, the developers have no product or service available for display. There’s a basic whitepaper that mentions the idea for the platform, but there’s limited technical information about how the team plans to get the job done.
Ultimately, not all blockchain companies have an MVP in place before launching an ICO. You can learn more about GameCoin online today at GameCoin.global.