Gameflip ICO Goes Live After Achieving 112% Pre-sale Target; Brings Blockchain to Digital Goods - KDTV6 CYPTO NEWS

Monday, December 4, 2017

Gameflip ICO Goes Live After Achieving 112% Pre-sale Target; Brings Blockchain to Digital Goods

Gameflip, the Silicon Valley backed digital goods marketplace has now launched its own ICO in a bid to create a decentralized ecosystem promoting peer-to-peer digital goods trading and incentivizing game publishers.

Gameflip, which is an established digital goods marketplace backed by $10 million from Silicon Valley venture capitalists, has now launched its own initial coin offering in order to extend its proven marketplace onto the blockchain — creating significant value for gamers and game publishers.

The public sale, which is going to run from today, December 4, 2017, till January 29, 2018, follows their pre-ICO from last month, which managed to secure 112% of its original target.

Gameflip Marketplace

The existing Gameflip marketplace, operating since 2014, has over 2 million gamers and handles millions of dollars in transactions every month. By extending the platform onto the blockchain and introducing a native token – FLIP (symbol FLP) – the company intends to provide game developers, publishers and players unmatched added value.

Currently, game publishers offer in-game purchases and digital goods as a source of revenue, and while digital goods have a sizeable market, the end-users, i.e. gamers, do not have complete control over their purchases and lack a platform which allows them to freely trade or sell their purchases later in a trustless manner.

With Gameflip’s decentralized ecosystem, gamers will have access to a highly liquid marketplace where they can buy, sell and trade their digital possessions directly, at a peer-to-peer level, using smart contracts which provide a zero-fraud environment.

Not only will the ecosystem benefit the gamers, it will also lead to a significant boost in sales and consequently increase revenue for game publishers, who will be majorly incentivized by adopting FLIP.

Incentivizing Game Publishers

Gameflip is reserving 40% of their token supply for game publishers who play a key role in the ecosystem and help drive FLIP adoption. According to Gameflip CEO, JT Nguyen, this is in line with the project’s aim to give publishers priority:

“Publishers are the key to success in this market. Our competitors are trying to build marketplaces on the blockchain without an established platform behind them, an experienced team among them, or an outward focus on publishers guiding them — and that’s simply impossible.”
Experienced Leadership

Before establishing Gameflip, a corporation in San Joe, California, USA, the core team behind the project built Aeria Games, a game publishing business with a community of over 40 million gamers. Additionally, the project is being advised by founders and senior executives of top global game publishers such as Electronic Arts, GREE, Bigpoint, Perfect World, and Glu Mobile.

FLIP Token Sale

The total FLIP token supply will be 100 million, out of which 43,200,000 will be available in the token sale, starting with 250 FLIPs for 1 ETH at a 25% bonus until December 18. The bonus will eventually drop to 15% and 10%, after which the tokens will go at 200 FLIPs for 1 ETH.

The ICO, which is live now, has a goal of 15,000 ETH for the duration of the sale, with a trigger to end the sale 72 hours after reaching 30,000 ETH. The minimum contribution is set at 0.1 ETH (there is no maximum purchase amount).



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