In FinTech news this week GameFlip is having an ICO starting November 28th 2017, with a PreSale on now.
Gameflip is a popular marketplace for in-game virtual goods, with over 2,000,000 active users. The company has raised over $10M from investors and is advised by the co-founder of Electronic Arts, Richard Melmom. Gameflip is now creating its own token (“FLIP”) to help gamers make their digital gaming assets easier to trade while promising new revenue streams for game developers.
The Team and advisory board is made up of experienced game execs (Electronic Arts, Glu Mobile, GREE), which is a significant advantage.
Unlike other companies selling new tokens in an ICO, the Gameflip team is already working hard to build a successful platform rather than focusing purely on raising money without a strong plan for use of funds. The team already has a healthy and growing existing business. Their digital goods marketplace is one of few available on both PC and mobile devices. They see their transition to a decentralized ecosystem based on FLIP as an easy next step that will allow them to realize their long-term vision for a transparent digital goods marketplace optimized for both gamers and publishers.
The key advantages of FLIP are as follows:
1. Gameflip Marketplace Platform – The Gameflip marketplace platform has been transacting gaming digital goods since the beginning of 2016 with millions of dollars processed across 2 million gamers. We fully understand the risks associated with managing digital goods transactions and the strategy to scale the marketplace rapidly. Our plan is to enhance our platform to provide the highest levels of transparency and security by implementing blockchain and smart contracts.
2. Experience – Collectively, our Gameflip team has over a century of starting, operating and scaling start-up companies.
3. Incentives for Publishers and Game Developers – This is a key point we believe our competitors have missed. Clearly, there is demand from gamers to sell their digital goods but the publishers are the gatekeepers. Without providing strong and aligned incentives, something we’ve done by allocating 40% of our FLIP tokens for network growth, we don’t believe the publishers will join the decentralized network. If you step into their shoes, we are asking them to try out a new “”unproven”” technology to develop a new revenue stream. This is risky for them so we need strong incentives as well as a clear onboarding plan, something which we know well since our team previously ran a $100M publishing business called Aeria Games before starting this business.
For more information on GameFlips ICO starting November 28th 2017 or PreSale on now go to tokensale.gameflip.com