All You Need to Know about the GamerToken Project.
GamerToken (“GTX”) empowers gamers to benefit from their passion to play games while also enhancing ownership of their valuable in-game assets. GamerToken is an ERC20-compatible token supported by a powerful framework of open-source smart contracts and software development kits (SDKs). It will be used to reward players for their in-game achievements, improve security of transactions, and give gamers the opportunity to buy, sell, and design unique digital assets on a universal marketplace. GamerToken will be a global, transactional currency for the gaming ecosystem, with rewards in-game and assets on the marketplace denominated in GTX.
A Marketplace Founded and Supported By Game Developers
Existing third party marketplaces for game items operate in the dark, outside of the control of the game developers and publishers who are unable to capture this additional value. This gives rise to account hacking and exorbitant fees. Utilizing the ERC-721 non-fungible token standard, combined with a publisher supported marketplace, in-game cosmetic assets, such as rare skins, can be issued in limited quantities by game developers, tracked, and traded on the GamerToken marketplace using smart-contracts. This ecosystem empowers players to have enhanced security and ownership of the value created by digital assets.
The GamerToken ecosystem also enables designers of virtual goods and services a straightforward method of creating new content and collecting royalties. It adds the prospect of bounty rewards in addition to existing social and in-game item incentives, allowing developers to crowdsource content from the community with a fair and understandable structure. Through events such as design competitions, this process aims to unlock a plethora of community-created content. Creators will be required to stake GTX to ensure the quality of designs submitted.
Creating True Digital Scarcity
Currently, game items are fungible; cosmetic items (such as skins) for characters, can be minted an infinite number of times by a game’s developer, making them less unique and their value unpredictable. Skins created as non-fungible tokenized items can be issued uniquely in limited quantities — making them more valuable, verifiably scarce, and identifiable on the Ethereum blockchain.
Non-fungible items owned by pro gamers, similar to the one that was recently sold for more than $61,000, could become highly sought after for their nostalgic value, similar to professional sports memorabilia. We believe proliferation of non-fungible items in popular games is an important next step in enhancing the infrastructure of items within game economies.
Universal API for Game Developers
To integrate with the GamerToken ecosystem, developers need only to implement a single API in order to create unique, non-fungible game items, buy in-game currency, reward gamers, and process marketplace transactions. Proceeds from items sold will go primarily to the gamer that sold them, with a portion of the sale being allocated to the game developers and/or publishers who originally created or licensed the items. By using universal standards for exchange, the GamerToken marketplace will be an industry-wide, open ecosystem, benefiting publishers, developers, and gamers.
Technology & Features
To enable free and fast transactions that move GamerTokens and NFTs between gamers, the system will be architected as a Proof of Authority Ethereum sidechain and relay. This sidechain is a separate Ethereum blockchain, but, combined with a Minimum-Viable-Plasma-esque relay, we enable integration with the existing Ethereum mainnet ecosystem. A fully trustless Plasma chain is the ideal architecture, and we will move toward it as the technology becomes more mature.
GTX staking is also required for both creators and publishers to ensure smooth operation of the open platform and for preventing bad actors. When vendors of virtual goods and services first join the marketplace ecosystem, they are required to stake a minimum amount of GamerToken to begin listing items on the marketplace. As the ecosystem matures, staking requirements will scale to the size of the in-game economy on the marketplace. This stake can be claimed against by leaders of the gaming community who represent an interest in protecting fairness for gamers.
Strategic Partnerships & Live Demo
The Gamigo Group, one of Europe’s leading game publishers, will be the first launch partner to integrate this additional marketplace ecosystem and blockchain technology into its portfolio of games. So far GamerToken has announced integration into one of Gamigo’s most successful titles: Fiesta Online. More game integrations will be announced in the coming weeks and months from Gamigo and additional developers. The Marketplace demo and Fiesta Online crypto demo are both live now! Head over to www.GamerToken.com to create your wallet, download the game, and start testing trades on the marketplace and earn crypto rewards!
Visit the homepage to learn more and try out the prototypes: https://gamertoken.com