The FootballCoin In-Game market is now open and fully functional
FootballCoin is getting ready to launch its in-game market. Let’s see what are the main talking points and run through the way the system works.
FootballCoin’s market goes ahead with the plan to make the game’s assets available to the public. Upon purchase of player/stadium cards, these will remain in the ownership of whoever buys the products. The users will be able to continue to use those, as per the game rules. The cards will offer users a better chance of winning XFCCOIN in prizes.
FootballCoin’s plan is to develop a global community of players who will be using the game’s in-game currency XFCCOIN. With a growing number of active users, it is easy to assume that the value of the game assets will increase over time.
One of the best ways in which one can take part in the FootballCoin community and win the prizes (represented in XFCCOIN) is to take part in competitions hosted by the site. To win prizes in the competitions, users are encouraged to use their football expertise and make the best choices concerning the players they opt to use, the competitions they enter, their investments in player/stadium cards etc.
The players that a user can choose from are represented as cards. The vast majority of the cards are free. Any user can choose among those cards and use them in the game. Around a quarter of the cards, the ones with a higher rating, have a value expressed in XFCCOIN. These cards will need to be purchased before they can be used. The good news is that once a user purchases a card, they have full ownership over the card and can continue to use it indefinitely.
It’s the same case with stadium cards. Those also feature a rating system with the highest ranking ones having an XFCCOIN value attached to them. To own those cards, they will need to be purchased. Once purchased, the user will have ownership over the card and will be able to organize competitions for a larger number of people. The lower ranked stadiums are free and they can be used by any participant. However, the competitions organized on these stadiums can only feature a lower number of participants. As expressed in the game rules, those who organize competitions will be awarded a percentage of the total number of entry fees collected.
- The In-Game Market is developed to allow transactions to be made instantly and without taxes
The In-Game market was developed as an alternative to the game’s wallet so that transactions can be made without incurring further taxes. For example, a user can now purchase a player card listed at 5*, directly from the game, and only pay the value of the card, without having to pay the blockchain taxes.
Also, the users that already have assets kept in the FootballCoin wallets will not be affected. The game will detect the existence of those cards and users will be able to use them in competitions.
The FootballCoin Wallet is developed on the Bitcoin blockchain (wallet.footballcoin.io). Assets that are currently available in the wallet can remain there, unaffected by the existence of the market. All transactions made on the Bitcoin blockchain carry with them the regular blockchain taxes.
However, the In-Game market will represent transactions that are made outside the Blockchain. Since these transactions will be much more frequent, FootballCoin has considered a system that will have the advantage of eliminating transaction taxes.
FootballCoin was designed with the purpose to allow many different ways in which the game can be played. Most of the users will choose to enter competitions and try to win prizes there. Some of the users will try and use their scouting knowledge, purchase undervalued players, later sell them for a profit. Other users will choose to invest in top players and lease out the cards to receive a fee each time that the card is leased out. The possibilities are endless.
No matter the strategy, it’s vital to ensure that the numerous transactions can go ahead as smoothly as possible, involving as few taxes as possible. The In-Game market, involving off-chain transactions, will not carry additional taxes. This will help users make as many transactions in the game as they wish, without having to consider the transactions cost which would otherwise decrease their profit margin by a large amount. For example, for a user constantly keeping an eye on the game market and trying to obtain a profit from the fluctuation in values, it would have been almost impossible to do so if taxes were to exist on each transaction.
- Taxes are only incurred when XFCCOIN or other assets are transferred in and out of the FootballCoin wallet
If a user wishes to move funds (XFCCOIN) from their wallet into the game market, they will be able to do so at any point and the regular blockchain taxes will be incurred. Also, if a user wishes to sell an asset currently available in the FootballCoin wallet, or purchase an asset and have it moved to the wallet, they will incur the blockchain taxes. Transactions made in the game market will go through without the aforementioned taxes.
Some of the FootballCoin users have already moved ahead and purchased game assets to their FootballCoin wallet. We will ensure that they are not affected by the introduction of the game market. The game will automatically detect if cards exist in the wallet and they will be able to use them in the game. Also, the XFCCOIN being held in the wallets will not be affected and the amount can be moved at any point.
- The In-Game market will also allow the option to lease assets, together with those of buying and selling
Taking into account that some of our users will not be able to use the game platform for each competition, beginning with August, FootballCoin will introduce the option of leasing “assets”.
A user will be able to place a card up for lease and determine the asking price for the card. The user that leases the card will be able to use it in competitions for the determined period of time. After the period is over, the card will return to its original owner, who will have the same options as before.
Many of the FootballCoin users target the best players in the game with the purpose of using them in their teams, to try and win prizes in the competitions. Some may, however, be looking to sell the player at a later date for an increased pricing. There will also be those that, for different reasons, will not be able to enter a competition, but would still like to benefit from the ownership of a card. FootballCoin will allow a user that owns a card to put it up for lease, choose the pricing and still earn XFCCOIN through doing so.
The In-Game market is an essential part in the progress of the game. Not only will it allow users to create their teams and strategies for the competitions, but it will also allow the game’s currency, XFCCOIN, to be used for one of the main purposes that it was designed for. With Football competitions set to begin across Europe, FootballCoin is also getting fully ready for the new season.