GameCredits began three years ago under the name Gamerscoin. The coin was established as a litecoin (scrypt) based variation with a total of 84,000,000 possible coins and a blocktime of 90 seconds (for more information you check out http://gamecredits.com/mining-specifications/ ). During those early stages, development focused largely on minor games, and the team didn’t have nearly as many passionate/technical minds behind it.
After over a year, the original developer handed over development to two of GameCredits current team members (Nebojša Maksimović and Aleksandar Mihajlovic).The team changed the name from gamerscoin(GMC) to GameCredits(GAME), and began developing a revolutionary platform for the entire gaming industry. (On a side note, we’ve never had an ICO and have instead been self-funded with over 1.5 million dollars).
Let me briefly describe what GameCredits does before I go further. GameCredits aims to provide blockchain based payment solutions that revolutionize the world of in game payments.
Currently game developers and gamers face a number of limitations due to traditional payment methods. For developers, these limitations include; transaction fees, long payment processing periods (up to several weeks), 30% commission fees on all payments (paid to Appstore, Google play, etc), and chargebacks/fraud. Gamers, on the other hand, have low deposit limits, the inability to transfer money from game to game, low security, and no anonymity.
All of these limitations are bypassed using GameCredits open source platform. Developers simply have to integrate our free API and gamers can begin paying for in game items/currencies with GameCredits in game (for a video on that process click here: https://www.youtube.com/watch?v=yK7S59NAo0Q&t=6s ).
The only fee paid to GameCredits is a onetime fee when you want to cash out (meaning there is no cost for transferring funds between games and using GameCredits in game). In this way we can earn revenue, while also saving everyone in the industry millions.
This is just one way GameCredits can be used. We also have partnerships with companies in the fantasy sports industry and have plans for e-sports. In total, the industry we target has a staggering (and growing) market cap of over 100 billion dollars.
Developments and future
GameCredits has been developing its platform for years, however we just recently launched in our beta test the game Fragoria, an RPG with over 8 million registered users. Fragoria was developed by Datcroft games, a close partner with GameCredits. Soon after launching in Fragoria, we launched GameCredits in Get the Gun, a third person shooter also created by Datcroft. These games are allowing us to test our proprietary payment gateway in real time.
We already have thousands of gamers signed up and using GameCredits as a means of payment. In the coming weeks, we will finish testing in these games, and release our fine-tuned API for public use. Then, we will begin to integrate GameCredits in hundreds of games aiming to reach millions of users. In the very near future, gamers will be able to purchase GameCredits from our wallet using credit card and PayPal.
We believe all of these developments will allow us to continue the fantastic growth we saw in the last year. Since January 2016, GameCredits price has grown from 1 cent to 21 cents, and market capitalization has gone from a small 600K $ to a visible and solid 12M $. These price increases have been very gradual, fueled by hard work, new partnerships, and real progress. Classical hype surrounding crypto-markets has not affected GameCredits, making it one of the most reliable and stable coins to trade. GameCredits is traded on over 10 different popular cryptocurrency exchanges from around the world. To name a few, we trade on Poloniex, Bittrex, Allcoin (Chinese), Yuanbao (Chinese), Jubi (Chinese), BTCBox (Japanese), and more to come.
The GameCredits team is full of passionate members of the cryptocurrency and gaming industries. More than anything, we aim to provide solutions that will solve a plethora of issues within the gaming industry. For more information on the company I encourage people to join our Slack channel http://gamecredits.com/slack.html and ask us questions/join the conversation. You can also visit our website http://gamecredits.com/ .
Very thanks to Blue Magic Capital for letting us share some information our awesome company!
Author: Jack Kuveke (Gamecredits community manager)