IMPRINT UNTO THE WORLD: BGX AT THE GDC
The past three days have been eventful and game-changing for the BGX. That is because our team members attended the largest gaming conference in the world — the San-Francisco Game Developers Conference 2018.
As many of our readers know, BGX is a financial processing platform that is focused on the mobile games market. This market is among the fastest growing (19% YoY), populous (more than 2 billion players), and high-spending (90% of all mobile revenues). Furthermore, mobile players are extremely technologically adaptive. Meanwhile, the mobile industry is formed around an oligopoly of just a few app stores, which charge exuberant fees of their developers (up to 30% or sometimes even 50%).
From March 21st — 23rd we put the faces to the stats and met many people passionate about game development and about advancing the industry forward. We spoke about blockchain opportunities to lower fees, integrate crypto-holding players, making in-game currencies transferrable, and offer many modernization channels for developers. We spoke of the needs of smaller game studios trying to make it despite paying 30% of their revenue to app market oligopolies and we spoke of larger game studios, with older games, seeking the ability to add completely different game functionality and access newer markets.
Within the three days of the conference, BGX has been meeting with potential partners and investors. We walked the floor and pitched our idea. After speaking with tens — no, with hundreds of people we can proudly say that our idea got traction! Of course, we faced some interesting challenges. The transactional volume of the blockchain was among the highest cited reasons for mistrusting the technology. It is true that the Ethereum project cannot handle millions of microtransactions per second, but with our off-chain hybrid technology, we could proudly answer — yes, we can.
A number of parties displayed deep interest in joining BGX as partners. These includes game studios, ad networks, and industry associations — we hinted about some of them on Telegram and Facebook, but you can surely expect an exciting list of partnerships to come out soon!
BGX itself joined the International Game Developers Association. Through global industry alliances as such, we will be able to connect with more studios from across the world.
When not at the conference, our team enjoyed the sunny San-Francisco weather. We walked across Piers 39, the Union Square and the SF Financial District. We tried some of the most amazing sea food and fell in love with the vibrant, diverse city.
Three hard days of work have not gone unnoticed. As we board the plane, we are proud of our new connections and thrilled about what the future has in hold.
