Game Machine ICO to Reinvigorate Gaming Sector with Gamefuel Token
In basing their platform on smart contracts and leveraging gamers’ computing power, Game Machine hopes to make smoother the transition between the myriad agents in the gaming sector. From investors to players, and even advertisers, the Gamefuel cryptocurrency will help stimulate an already difficult-to-access industry.
Gaming Industry Difficulties
The primary difficulty for developers in the gaming sector is finding funding for their upcoming project. Thus moving from idea to completed project, to happy users can be a frustrating task. The failure to launch a product can also be baffling to some as the market has been indicating steady growth. According to Newzoo company, in 2016 the global games market earned $101.1 billion and will earn a predicted $128.5 billion in 2020.
After that, difficulties in executing in-game purchases or having to use gaudy intermediaries prevent smooth interactions for users. This can also be exacerbated simply by the economic status of certain gamers.
Advertisers are also left in the dark regarding the data gathered on the demographic of the user base. The lack of available information leads to the poor placement of advertisements and ultimately a loss of resources. Investors suffer similar problems as they too lack the access to the details of their potential investment.
One of the greatest advantages that Game Machine proposes is the in-game mining process. In leveraging gamers’ computational strengths, they will be able to generate the Gamefuel token. This token then serves the ecosystem of players, advertisers, and investors in order to make interchange seamless between the three parties.
Specifically, the Game Machine will involve four tiers. The first is the Game Machine Client which behaves as a miner and is the program for gamers to use. The second will help facilitate the funding of new and upcoming games proposed by investors within the network.
In this way, investors have a more direct line of communication with their target audience via the Game Machine platform.
Additionally, a big advantage of Game Machine is that it has a working product which has been tested and is already being used by gamers. The focus was on the client app development for a few months, and since November 1, the team has released the Open Beta product. Game Machine Client involves a miner for cryptocurrency and a store for in-game items from the popular games; CS:GO, Dota 2, WoT and much more are on this list. Game Machine has attracted interest from a pretty big audience, with more than 10,000 users signing in to the Client during the last one and a half months. This is no surprise actually, gamers do not have to spend any money because they use the resources of their PCs only. The mobile application also offers an opportunity for an extra gain; gamers can complete the tasks and get coins.
However, Game Machine is still developing its products. The list of games will increase, and later more projects will be implemented in the pool. In 2018, the team is planning to release the app for advertisers and another one for investors. And as many users requested, Game Machine is also working on the mobile application for iOS, due for launch in March 2018. In 2019, the team will set up a product for exchanging tokens and create an API for the third-party resources for the ecosystem. The combination of Proof of Stake and Proof of Authority principles provide the security of Game Machine. Also, the team is planning to add neural networks and AI to remove fraud.
The Game Machine platform also accommodates members of the advertising community with an opportunity to earn tokens as well as serving the role of a general cryptoasset exchange for gamers in general.
The Token Sale
The main sale began December 14, 2017, and will end January 31, 2018, following the total release of 140 million coins. One token (GMiT) will cost 0.0004 ether, and the minimum buy-in value is 25 GMiT or 0.01 ether. The GMiT tokens will be redeemable for Gamefuel tokens at a rate of 1:1.
A descending scale of bonuses will be outlined as follows:
- Week one: 15 percent of the volume of purchased GMiT tokens.
- Week two: 10 percent of the volume of purchased GMiT tokens.
- Week three: Five percent of the volume of purchased GMiT tokens.
The ICO has a hard cap of 40,000 ether and a soft cap of 3,000 ether. A 10 percent bonus is available right now.
For more information regarding the way these funds will be distributed, the team behind the ICO, or more specific details about how Game Machine will be providing solutions for the problems mentioned above, please go to their website and read their whitepaper here.