MOSCOW—Each year, global gamers spend more than $100 billion USD, and countless hours of gameplay, to purchase and earn digital goods. But what does that sizable investment amount to once they switch to a different game? In most cases, nothing.
That’s because there is currently no secure, transparent and liquid platform where gamers can buy, sell and trade their digital goods. Giving gamers a platform where they can sell their hard-earned virtual items—including the ones they receive from defeating other gamers, leveling up and other achievements as they play through the game—could be the industry’s trillion-dollar opportunity.
But that tremendous opportunity has not yet been realized—until now. Today, on Oct. 13 at 19:00 UTC, Gameflip kicks off the pre-Initial Coin Offering (ICO) that will last till Oct.20 for its FLIP token and new decentralized ecosystem for transacting digital goods. The sale will launch on KICKICO, the world’s first 3-in-1 platform for ICOs, blockchain crowdfunding and crowdinvesting. ICO is planned for Nov.1 till Nov 29.
With 2 million registered gamers and 500,000 active monthly users, Gameflip is already the industry’s most comprehensive digital goods marketplace. With its new FLIP token and blockchain ecosystem, the venture-backed company is out to shift the gaming paradigm by providing a peer-to-peer buying and selling platform for digital goods, across all platforms—including mobile, PC, console and VR/AR.
“FLIP is the only crypto-token with a built-in ecosystem and generous benefits for game developers and publishers,” said Gameflip CEO JT Nguyen. “We’re confident FLIP will be adopted quickly and emerge as the dominant crypto-token for the gaming industry.”
During pre-ICO, the total supply of FLIP will be capped at 100 million tokens, with the price of each FLIP set at 0.005 ETH. Bonuses will be offered for early purchases, based on the amount of tokens purchased.
The FLIP token will leverage the Ethereum blockchain and ERC-20 token interface, the current industry standard for issuing digital assets. Its infrastructure and the associated smart contracts are designed to eliminate questions of trust and protect the transacting gamers from fraud. Gameflip will also facilitate easy integration by game developers and publishers via open-sourced plug-ins and software development kits (SDKs).
FLIP tokens will unlock tremendous value for gamers, game developers, and publishers, Nguyen said. Gamers will have unprecedented flexibility to buy, sell and trade digital goods. Whenever gamers transact using FLIP, or facilitate the sale of FLIP to gamers to promote network growth, revenue will be generated for game developers and publishers.
“Just as we’re committed to providing value for gamers and publishers, KICKICO has created a platform that benefits both project backers and creators like us,” Nguyen said. “As leaders in our industry, we knew that KICKICO, a leader in the crypto crowdfunding space, would be the ideal platform for our token sale.”
Unlike other platforms, KICKICO has a unique reserve system that ensures project backers receive both project tokens and KICK tokens. That means that backers of the Gameflip campaign will receive FLIP tokens, plus 8 percent of their sum in KICK tokens. KICK tokens are already traded on EtherDelta and soon will be traded on one of the leading exchanges – HitBTC.
Gameflip is a good example of the many international creators, and established businesses, that are exploring ICO as a way to transform their blockchain innovations into reality, said KICKICO CEO Anti A. Danilevski. KICKICO launched its own much-anticipated ICO on Aug. 29, raising 84,635 ETH from more than 10,000 backers around the globe.
“By backing KICKICO, our community is rewriting the future of blockchain,” Danilevski said. “Together, we’re creating a dynamic, safe blockchain ecosystem that delivers a win-win for both backers and creators like Gameflip.”
Ijji, Inc. (doing business as “Gameflip”) is a corporation based in San Jose, California, USA, and funded by Silicon Valley venture capital funds and other investors. The Gameflip management team has decades of combined experience in the gaming industry, as game developers and publishers in prior capacities, and now as digital goods marketplace operators. The Gameflip digital goods marketplace has more than 2 million registered users and 500,000 monthly actives.
A platform for ICOs, crowdfunding and crowdinvesting projects, KICKICO was founded in 2015 and launched its first ICO in September 2017, by now raising a total of more than 21,5 million dollars equivalent in cryptocurrency. Its first hosted project – for the game Magisters of Magic – collected 280 ETH, surpassing its goal of 200 ETH.
The FLIP token sale is only available to purchasers: (i) who are non-”U.S. Persons” (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) and who are not purchasing for the account or benefit of any U.S. Person, and (ii) who are eligible to purchase FLIP tokens under the applicable laws of each such purchaser’s jurisdiction.