With over 30 new Initial Coin Offerings (ICOs) being launched per day, the cryptocurrency industry is seeing an influx of new startups pop-up and tries to grab a share of this hot market. While some of them bring unique technology and an experienced team, the vast majority have entered the market haphazardly, making speculators believe that we are on the verge of a bubble.
Despite this speculation, established Silicon Valley companies and other notable Fortune 500 companies have entered the industry, helping to bring legitimacy to blockchain’s core functionality. One of these companies, Gameflip, is doing just this to unlock and disrupt future gaming marketplace that could be valued at over $1 trillion.
Gameflip’s Market Opportunity and Early Momentum
With 2.2 billion global gamers and $108.9 billion in annual sales, the gaming industry is growing rapidly. Of that $108.9 billion, $94.4 billion is derived substantially from the sale of direct-from-publisher digital goods. Despite this market success, a massive untapped issue exists: secure and frictionless transactions of gamer-earned digital goods (the digital goods that gamers earn or enhance by playing the game).
Gameflip is solving this challenge by using its online marketplace to give gamers true ownership and flexibility to liquidate their goods in a fraud-free, liquid ecosystem built on the blockchain. The best part is that they bring the network of both an experienced internal team and game publishers to the table – something no other gaming ICO has provided to date.
How can Gameflip provide this advantage? In one word, experience. Gameflip is comprised of its core members and advisors, each having at least 10 years in the gaming industry. Most notably, the Gameflip team, being backed by some of Silicon Valley’s top venture capital firms, built Aeria Games, a $100M game publishing business.
In the gaming industry, experience and understanding of how to create a marketplace that benefits both publishers and consumers, means, say the least, a lot – most gaming companies are focusing heavily on the consumer/publishers aspect.
On the consumer front, Gameflip’s digital goods marketplace already enables gamers to safely transact digital goods for games across all gaming platforms – all in all, totaling millions of dollars in monthly sales. On the publisher side, Gameflip will introduce publisher incentives built into FLIP, its digital token and ecosystem.
Gameflip Shatters Its Pre-Sale Raise and Looks to Continue the Momentum
Hot on the heels of its successful pre-ICO last month, which achieved 112% of its target, Gameflip has just announced new dates for its much-anticipated ICO: December 4, 2017 through January 29, 2018.
Gameflip’s ICO target is to raise $5 million (soft cap) to extend its already successful digital goods marketplace onto the blockchain and to onboard a handful of innovative publishers in a beta period before proceeding with top global publishers. The additional capital, together with the company’s existing financing from Silicon Valley VC firms, will let Gameflip quickly scale and expand the platform.
“Publishers are the key to success in this market. Our competitors are trying to build marketplaces on the blockchain without an established platform behind them, an experienced team among them, or an outward focus on publishers guiding them — and that’s simply impossible,” said JT Nguyen, CEO of Gameflip.
You can learn more about Gameflip and its FLIP token here.