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15 insights on Dmarket ICO

Sep 02, 2017 Posted /  3056 Views

15 insights on Dmarket ICO

15 insights on Dmarket ICO

There are virtual and real things. But have we ever seen the transformation of virtualitty into reality? Well, Dmarket is one such platform which aims to make it happen.

Let us see a few insights over their concept and details about the ICO:

1. The concept

DMarket is a global marketplace solution that turns every virtual item into real commodity. DMarket is a new ecosystem where gamers, developers and entrepreneurs can efficiently and securely evaluate and trade virtual items.Thus, it creates a new economy that joins with existing real-equity markets. 

2. An opportunity for the gamers

They want to provide an opportunity for every gamer or user in the world to be able to evaluate their time, skills and luck. Gamers will be able to perform easy one-click buy and sell, exchange and evaluation of every possible game asset, item, skin, design or mod. 

3. Wallet facility

To facilitate the smooth experience, each DMarket user will be provided with a wallet on a full-time basis. The wallet will preserve all data in their decentralized database and interact with users, utilizing smart contracts.

4. Features of the wallet

The wallet will contain the next blockchain features like Token crediting, during in-game items trading, Token deduction, during the acquisition of in-game items, Transaction fees (no more than 5%), In-game item crediting/deduction (during the in-game item transaction), and an influence on the platform development. All these processes will be automated, with the help of smart contracts technology. 

5. Influence on Market Development and Voting System

A simple voting system and buying power will provide users with a real impact on the development of game assets, items and mods. The cross platform and cross-game items exchange will open new opportunities to discover and play games, while levering each user’s virtual gaming capital. 

6. Treat for the developers

With DMarket, game developers gain the most of the fees from every trade commission, and on each subsequent resale (when your game assets, items, mods are listed on the market). This solution aims to generate new ways of game monetization and increase lifetime value. Their global decentralized marketplace will provide developers and decision makers with a recurrent market in which games can leverage additional years of existence. DMarket’s developer’s API is a ready-to-use solution for giving value to any digital item, whether it is skins, gems or other items, as well as for the item monetization

7. Technologies used 

At the moment, they are reviewing the platforms like EOS, Tezos, Aeternity, Exonum and a Bitshares fork as a possible base for DMarket. The main focus is on performance, in which they seek Predictability, Stability, Ease of use.  Currently, they are developing it using the DMarket Core, a Solidity DAO framework and web based decentralized app (dApp).

8.  Development Process

The development of the first version of the marketplace is being conducted on proven platforms, such as PHP 7, PostgreSQL, js/nodeJs. However, they constantly monitor alternative technical implementations of the system and at the moment they are also considering the possibility of implementing a system based on Erlang in conjunction with Nitrogen + N2O, as alternative stacks for the development of a fault-tolerant system using WebSockets.

To ensure full transparency in trading operations, blockchain technology is used as a decentralized data storage unit. At the moment, the system is being developed on Ethereum, but in the future this platform will be revised and possibly replaced with a more economically robust one.

9. DMarket Coin 

DMarket Tokens will be represented by DMarket coin. They will be used within the DMarket platform, but they won’t be limited by the platform in the future. DMarket coin can be used for the various purposes as a currency for buying or selling in-game items, delivering the sales commission to the owners of the rights on digital property, buying premium accounts for wholesale and individual sellers, purchasing BigData analytics.

10. Token sale

The first  phase of the ICO has already ended. The second token distribution will be in November. It will sart on 1st November 2017 and end on 2nd November 2017, where they will accept currencies like ETH, BTC, ETC, LTC. The Token exchange rate will be 1 ETH equal to 750 DMarket tokens. 

11. Features of the coin

DMarket Coin is the only currency for transmitting, buying, selling, and exchanging virtual goods within the DMarket marketplace. A certain amount of Dmarket Tokens will represent every virtual item, which will be connected to the marketplace wallet. Only the creators of the virtual items will be able to set prices for their goods. The creators will be able to Add and delete virtual goods, Set the prices for their goods, Add different general features to their goods (e.g. a virtual item can be labeled as premium, common or used), Assign additional features which depend on the game itself, Allow collective creation of goods,Ban certain users from conducting transactions with the goods.

12. Use case

Single player or even multiplayer PC and console games could benefit from the trade of hard-to-get, rare and fancy items. Skins for in-game items could fulfill the human drive to be different, and avoid changing the balance of existing game. Mobile games with pay-to-win could benefit from skin turnover. Another option is adding durability to every item officially sold in the game, as well as opening a trade market for used items. That will increase the turnover of new things and add revenue from every used item sale, not cannibalizing main sales. 

13. Increase in revenues for players

The DMarket network will help gamers leverage their virtual capital and help game industry players increase their revenues. The market for modders will open any game to developers, designers, modders and codebase contributors. Well-balanced percentage and use of smart contracts will provide the ecosystem with the opportunity to win presale and beta/alpha production cycles, increasing the community while building a user base and setting up individual economic network.

14.  Decentralized network

Their global decentralized marketplace will provide developers and decisionmakers with a recurrent market in which games can leverage additional years of existence. Combined with a strong in-game economy system and interesting new features, a single game franchise can hope for a lifetime recurrent return. 

15. Methods for the API

To implement this synchronization and the overall interaction of the game with the trading platform, game developers will be provided with an API that will contain the following basic groups of methods like Methods for registering a developer in the system, while the system registers a new balance account for the developer, Methods for generating HASH values for each game item (HASH will be used as a unique value, to account for virtual items.), Methods for transferring HASH values within the network between players and sellers, Methods allowing the identification of the state of each game item,Methods that track certain parameters of certain virtual objects.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

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Tags: Dmarket Dmarket ICO Dmarket Sale Dmarket Token Sale Dmarket Insights Dmarket ICO Insights

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