LootSafe: Press Release
This company’s unique and secure platform establishes a radically transparent way for gamers and developers to ensure future access to the fruits of their hard work.
DENVER (October 2018) — As online gaming continues to expand and evolve into one of the world’s leading forms of entertainment media, the global gaming community and a growing number of game developers are demanding more control over their creations.
LootSafe, a software company focused on enabling traditional games to operate in trustless ways, has come up with the solution that many in the global gaming community have been looking for.
Starting today, LootSafe is making available a unique, secure and groundbreaking platform: where developers have a space to create games and where gamers can take ownership of their own work within those games.
“We think that gamers will quickly realize how important LootSafe is for them, especially when it comes to the skins and other customizable game items that they often spend thousands of hours and a lot of sweat equity to earn,”
said Matt Wisniewski, the company’s founder, CEO and lead developer.
“Right now those items live in a database on the publisher’s servers, so essentially the publishers run the marketplace. That means when you want to obtain, trade or sell these skins you can only do so under their rules. And if the game ceases to exist, or if the publisher decides they no longer want to allow trading then you’re all out of luck.”
“the LootSafe platform is extensible and takes into consideration the future archiving, growth and change of games and gaming requirements. We’re letting the community narrate where this thing will go in the future,”
In contrast, said company COO and co-founder Mike Semler,
“This means LootSafe will grow into a platform built by the community, for the community.. ”
added Michael Romano, LootSafe’s CFO and co-founder.
LootSafe is able to accomplish this by using blockchain technology, which has been described as a digital ledger of financial transactions. The blockchain is also called a “trust-less” system because the use of these decentralized digital ledgers means transparent and verified transactions that no longer depend on a human regulator.
“I think in the future we’ll see people using blockchain without even thinking about it,”
“Blockchain technology will touch on every industry. There’s no doubt about it.”
-Matt Wisniewski
LootSafe expects that the smaller “home-brew” game developers will especially benefit from their platform and use it to compete with the larger established companies for a share of the rapidly growing gaming sector. That gaming market is reportedly over $140 billion, while the virtual asset market within that larger market stands at around $92 billion dollars.
“So $92 billion of that $140 billion is just in-game items,” said Mike Semler. “Right now you have about 2.3 billion people playing video games all over the world, and only about 150 million people are actually trading assets. So that gives you a 96% market capture of virtual items.”
LootSafe is currently available to anyone who wants to try it out, non-commercially, for free.
“There’s been a lot of discussions lately about democratizing and decentralizing the game industry,”
“And LootSafe is going to be a big factor in that movement.”
-Matt Wisniewski
About LootSafe
Made by gamers for gamers, LootSafe is a game development platform that establishes real, immutable ownership over virtual assets and empowers developers to easily create, deploy, and manage items for in-game purchase. Players can purchase and trade across the LootSafe network while developers can build new games using existing stores of virtual goods. Don’t let your digital assets gather dust, let them live forever with LootSafe.
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