DMarket is a global marketplace solution that turns every virtual item into real commodity. This paper discusses how we combine blockchain technologies and seven years of industry experience to open this multi-billion dollar market to the existing world economy. All that time people spend playing games on their mobile, PC, console or any other platform could finally be worth something.
Every day, 2.3 billion people play games on different platforms and devices, creating a gaming industry that in 2016 reached $100 billion and continues to boom. Only 4,000 pro gamers make a profit from the time and skill they spend gaming, including the trading of in-game items they accumulate. Just a couple of games accumulating only 6% of the global audience made a turnover of $3 billion of in-game items. The rest of gamers are out of the market.
The team is now, developing a marketplace based on blockchain and smart contracts that enables one-click sale, exchange or evaluation of every virtual item between all games on any platform. The DMarket token will be the only currency on the platform, providing different options that affect every trade, exchange, fee and smart contract. The projects is building a new online economy with the DMarket token. 2.3 billion gamers will finally be able to enter a global virtual item market. Using the API, every game developer will easily connect their game to DMarket and gain from the increased value, revenue and time spent in their games.
At the moment, the team is reviewing the following platforms: EOS, Tezos, Aeternity, Exonum and a Bitshares fork as a possible base for Dmarket. The DMarket tokens, are cryptographic tokens that need the DMarket.io software to be installed. They are not ERC-20 compatible tokens to be used on the Ethereum blockain and being supported by Ethereum wallets.
Developers, designers and modders create digital goods. Each item will be marked as property of the company or the person who created it, identified by its own unique ID. Making it possible to track the item within the system and the blockchain. Optionally, with specific time-related features (premium, 20 normal, used) or any other additional properties, which are defined in a smart contract.
DMarket tokens are created through the use of the API’s endpoint and a token factory, itself using a library submodule that can be optionally imported, thus giving great flexibility to asset creators. The token will represent consistent information stored on the blockchain, thus the unique ownership of one’s digital goods. The goods’ ownership, properties and state will live in the marketplace, outside of the game realm.
Dmarket is an interesting project. Many similar projects have been around. For more information check: https://dmarket.io/