Why the FLIP platform deserves your attention
Blockchain and gaming are both booming industries, filled with new opportunities at every turn. Why does our blockchain venture, FLIP, rise to the top? Simply put, we’re using the blockchain to solve a key challenge — and we have the expertise to deliver on this vision.
Here’s why the FLIP platform should matter to gamers, publishers, industry investors and the crypto community.
The digital goods opportunity
Digital gaming is a booming industry that already generates $94.4 billion a year. Most of this revenue is driven by the sale of items that gamers purchase directly from publishers. But despite this growth, the industry has locked away a trillion-dollar opportunity: secure transactions of gamer-earned goods (the skins, weapons and other rare items earned while playing through the game).
As CEO of Gameflip and COO of Aeria Games I’ve seen how this issue affects gamers (and the industry as a whole). Many gamers spend immense amounts of money and time to try to earn rare items. But what happens when they try to optimize their inventory of gamer-earned digital goods or decide to leave the game? There’s no secure, liquid marketplace for them to buy, sell or trade their items within or across games.
How other solutions have fallen short
The Steam Community Market has attempted to address the problem by enabling sales and trades for digital goods on their platform. But if a gamer wants to gain cash for their goods, their only real option is using third-party forums like Reddit.
As a former publisher, and the CEO of one of the world’s biggest digital goods marketplaces, I’ve seen firsthand how many of the transactions on forum sites like Reddit end up scamming the gamer. And that’s a lose-lose situation. When this happened to the majority of our top players, they often were so discouraged that they left the game altogether.
With the advent of the blockchain, Gameflip can now tackle this crucial challenge in a way that’s secure, transparent and beneficial for both gamers and publishers.
Gameflip’s solution
Gameflip is a Silicon Valley-based, 2 million member-strong global digital goods marketplace for gamers. More than 500,000 active monthly users transact millions of dollars in digital goods on our platform each month. Our goal is to become the go to marketplace for gamers by delivering 100% transparency and security. The blockchain is key to realizing this vision.
Our FLIP solution leverages the Ethereum blockchain and ERC-20 Token interface to provide a decentralized ecosystem for transacting digital goods through smart contracts.
And in doing so, it unlocks tremendous value for gamers and game publishers: We’re using the blockchain to solve these key challenges:
· Confirm ownership of digital goods via the blockchain, and enable gamers to transact digital goods safely using smart contracts
· Incentivize game publishers to adopt this new model, through the FLIP network growth tokens and a commission for each transaction made for digital goods in their games. Publishers are the gatekeepers of all of the digital goods, and as former publishers ourselves, we understand that they are crucial to FLIP’s growth and universal adoption.
How FLIP benefits gamers and publishers
We’ve created a win-win situation where every party involved derives massive value through our platform.
· How FLIP drives value for gamers
For the first time ever, gamers can finally own their digital goods. This provides flexibility to buy, sell and trade them for cash through our fraud-free platform. This ownership ensures that goods maintain their value, so that the ability to sell their goods encourages gamers to reinvest into more digital goods to drive a free-flowing digital economy.
· How FLIP drives value for publishers
Every time a gamer conducts a transaction with FLIP on a partnering publisher’s digital goods, the publisher will receive a generous commission. This new revenue stream is made possible by our open-sourced plug-ins and SDKs that track blockchain transactions of publisher goods.
Growing the FLIP network
Our network growth plan is ambitious — and completely within reach. Gamers and publishers are vital to this growth. Many gamers will naturally want to adopt FLIP to liquidate their digital goods, or to keep up with the growing competition. Additionally, publisher integration and facilitation will drive growth in the most impactful ways over the next few years. Out of the supply of 100 million FLIP tokens, we’re reserving 40 million of them to distribute to publishers once FLIP is fully utilizable. These time-released tokens will be used to incentivize game publishers to promote network growth by selling the reserved tokens to their gamer communities and keeping the profits for themselves.
Why is Gameflip the right team to solve this issue
We’re not a fly-by-night company looking to capitalize on the crypto revolution. Our team at Gameflip is made up of industry experts who have already showcased considerable traction in our vision for a liquid digital goods marketplace.
· Working platform: Gameflip is already processing millions of dollars in digital good transactions each month and has a proven community of gamers who trust us as their go-to marketplace. Through FLIP, we’re taking our successful platform to the next level by incorporating blockchain technology.
· Proven experience: Our executive team has more than a century of combined business experience, including decades in the gaming industry. We’ve successfully built, managed and architected global free-to-play gaming businesses like Aeria Games. Because our team is comprised of serial entrepreneurs and gamers, we understand the unique challenges of the space.
· VC-backed: Gameflip is backed by top-tier venture capital firms like Bullpen Capital, GoAhead Ventures and Lightbank.
· Key partnerships: Both our core team and advisors are veterans from the gaming industry. We have worked with all of the top global game publishers in the past and our advisors built Electronic Arts, GREE and Bigpoint. The key to making FLIP successful is to actively partner with all top global game publishers and we are the only team positioned to make this happen.
As we enter a new era of disruption, the blockchain is set to create uncapped revenue potential for game publishers, ongoing value and flexibility for gamers, and a thriving crypto-economy for FLIP token holders everywhere. Will you join us in the gaming crypto revolution?
