GAM, a Community-Based Game Assets Trading Ecosystem, Allows Seamless Assets Transactions

November 02 01:35 2018

Blockchain technology is spearheading the digitization of game assets:

As expected, asset digitization will be one of the most prominent technological trends of the future. Game assets will be among the first select few to witness the application and implementation of asset digitization.

The crucial characteristics of blockchain technology, such as decentralization, non-tampering, transparency etc., allows gamers to secure game assets as private property. This development will address the ownership and copyrights which plagues the traditional gaming industry.

For example, though the user of the game has to purchase the props and skins developed by the game makers, the ownership of the game assets still remain with the game makers. This allows the game users to alter or even confiscate the game assets of the user anytime, thereby putting the latter at a distinct disadvantage.

However, the assets in blockchain games can be stored like bitcoins in a blockchain address. The Blockchain game makers can write the number and attributes of game assets to smart contracts at the beginning of the game design, thereby preventing any unauthorized changes from being made.

Thus, blockchain technology ensures protection of individuals’ private wealth and for prevents game asset ownership violation. The combination of game assets and blockchain has the potential to introduce significant changes in the gaming industry.

Gamers’ demand for game assets continue to remain unmet:

Thus, the transformation of the gaming industry initiated by blockchain technology is finding widespread support among game users.

All game enthusiasts know that props of some popular games have considerable commercial valuable. However, to buy such props is not easy and even if the gamer owns such popular props, they are seldom able to secure a buyer for it. Worst still, some users discover that they have no rights to even trade the props they possess. Thus, the lack of clarity on ownership rights over game assets causes a lot of inconvenience to the gamers.

For example, Steam, the world’s largest gaming platform, generated a revenue of approx. USD4.3 billion in 2017. Many of its games (Dota2, CS: GO, PUBG and H1Z1) have game assets that can be traded outside of the Steam system and are valued at more than USD10 billion. Thus, the overall value of trading of games assets is greater than the revenue generated by the game itself.

This is a market that functions when game makers allow trading to take place. Thus, the market’s potential remains highly regulated and users are neither satisfied nor sure about asset ownership. The users are also concerned about the lack of seamless trading and related transactions. Therefore, the immense potential of the market remains unrealized.

It has become evident that gamers highly value game assets and are also willing to trade game assets. However, due to the rigid control exerted by the traditional game makers, most of the gamers do not even possess the ownership of their game assets, thereby preventing the gamers from trading in game assets.

However, the ownership anomaly will be addressed by blockchain games. Blockchain technology clearly defines asset ownership. Application of Blockchain technology will guarantee gamers’ absolute control over the game assets they possess. Furthermore, the high liquidity ensured by blockchain technology will allow hassle free transactions of game assets, thereby allowing gamers to freely buy and sell their game assets.

Therefore, blockchain technology will invest gamers with the ownership of the game assets and the associated trading rights, thereby protecting their commercial rights.

Furthermore, blockchain facilitates gamer participation in the game designing process, thereby presenting the opportunity for the gamers to generate income stream from the games. Thus, blockchain games has the potential to allow gamers to transform from being a passive game recipient to an active participant.

By redefining the production scenario of the gaming industry, blockchain has initiated a revolutionary transformation of the gaming industry.

GAM: The world’s first community-based game assets value ecosystem

The gaming market possesses immense commercial value. This is evident from the gaming industry’s ability to generate billions of dollars in revenue every year. If blockchain technology can address the shortcomings of traditional gaming industry, it can facilitate unprecedented growth in the gaming industry, thereby making the industry one of the main enablers of economic progress.

GAM is keenly aware of the immense potential that this new business trend possess. GAM, based on blockchain technology, is committed to building a community-driven game asset trading ecosystem. Through the ecosystem may appear like other gaming communities, it offers far superior familiarization and integration with the game. Moreover, the community has access to position locking pool, which is akin to a token pool shared by all community members. The position locking pool has the right to earnings, the right to vote and credit rights. The entire community participates in decision-making related to position locking pool and thus, the benefits incurred can be enjoyed by all members.

Token Lock-up Pool allows community members to invite others to play games with rewards and participate in the decision making related to launch of new games and assets. Through incentives, such as voting rights and earnings distributions, gamers will have the required motivation to participate in and benefit from blockchain games.

Based on the above, GAM is focused on redefining the relationship between gamers and the game makers. This will lead to an increase in online traffic, facilitate asset flows between different games, promote fair trading and lower the entry threshold by providing comprehensive services to the new industry entrants.

Furthermore, GAM enables gamers to protect their game asset interests while playing games, participate in establishing game rules and reap benefits, which could potentially initiate the development of a new game form.

Initiated a pioneering asset leasing function:

In addition to defining asset ownership, GAM has also established a set of asset standards for the gaming industry. Besides, GAM has also initiated an unprecedented asset leasing function. This leasing function delinks asset use rights from asset ownership, thereby allowing gamers to benefit from renting out their idle game assets to other gamers. GAM is committed to the radical transformation of the gaming industry.

In GAM, gamers can earn a substantial income by selling or renting out their game props using considerably lesser effort and time. Additionally, gamers can also reap extraordinary gains by assisting their peers, who do not the time or the required skills, in obtaining/selling valuable game props.

After leasing out the game assets, the owner need not worry about repossessing the asset as comprehensive and legally binding conditions are already present in the blockchain contracts. On expiration of the deadline, the contracts will be automatically executed, and the assets will be returned to the owner’s account address.

GAM will also provide templates for asset owners to assist them in accessing crucial data such as time, earnings etc. thereby saving time of both buyers and sellers.

Game asset leasing is a revolutionary concept that not only allows asset owners to realize potential earnings by leasing their assets but also lowers the trial threshold and reduces cost for initial players, thereby making games more attractive and competitive. Most importantly, the high degree of liquidity due to asset leasing, will lead to a substantial appreciation in the value of the game assets.

How will GAM, which is redefining the game asset trading format, realize its full potential?

As we all know, the game asset exchange has set strict entry requirements, which requires project parties to possess a comprehensive understanding of gaming and asset trading, as these two fields have many common and as well as distinct factors.

However, core GAM members are from China’s largest game exchange and they possess an exhaustive understanding of game asset trading.

Most of the team members are also experts in gaming, finance and blockchain and many of them previously worked for institutions of global repute such as the NetEase, CMGE, Morgan Stanley etc. Many of the members of the team have worked on renowned projects (including the Treasure House, the Need for Speed, the Final Fantasy, etc.). Team members have also acquired invaluable experience in the development and operation of many blockchain game projects.

The core team members possess excellent educational backgrounds. They have graduated from prestigious universities such as the National University of Singapore, the University of Adelaide, the University of New South Wales, the University of Antwerp, Fudan University etc.

The founder and development teams have rich experience in gaming and assets as well as an exhaustive understanding of blockchain. This has ensured availability of comprehensive technical support and talent for the realization of GAM’s vision. Due to the unprecedented changes being introduced by enterprising individuals guided by blockchain spirit and ideals, the outline of the new business format of gaming industry is getting clearer.

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Media Contact
Company Name: GAM Chain Technology LTD.
Contact Person: Siyi Jiang
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Phone: 086 15809290100
Country: Singapore