GamerToken is a new and exciting blockchain-project.
It allows gamers to truly own the virtual items they earn in-game. With the Ethereum-based token, unique cosmetic items will be made available in participating games, making it possible to reward players for exceptional in-game achievements.
The GamerToken system is the first to make in-game items truly distinctive when being equipped with unique skins, allowing players to earn recognition. Players can sell, buy and own these unique and one-of-a-kind collectibles via a secure and transparent marketplace which is based on a blockchain.
A public test version of GamerToken was launched in April in collaboration with the gamigo group, one of the leading game companies in Europe and North America.
To demonstrate the project, an ERC20-compatible test-token was implemented in a special demo version of the popular online roleplaying game Fiesta Online. In addition to this demo, a test version of GamerToken’s decentralized marketplace is available to trial. Both demos can be tried out on the GamerToken website.
“The GamerToken has the potential to radically change the trading and perception of in-game items. The marketplace can become a secure, transparent and universal trading post for online games of all kinds”, says Jens Knauber, CEO of the Laurel Foundry.
A Marketplace to unite game worlds
Rather than replacing existing in-game economies, GamerToken’s currency and marketplace are built to compliment them with additional functionality and freedoms for the player. It is a decentralized trading system in which players can buy, sell, and borrow their cosmetic items across different games. Therefore, the player can transfer his/her digital assets in the form of GamerToken for example from an online roleplaying game to an eSports shooter, and from there to a casual mobile game, and so on. In-game markets remain stable and effectively unaffected by such transactions.
A system of ‘smart contracts’ ensures the security and transparency requisite for high-value online transactions. The marketplace has an underlying security system that ensures comprehensive protection against theft and fraud.
Benefits for developers and players
Game developers gain the ability to design skins that are exclusive for the marketplace and link them to an ERC-721-GamerToken. The ERC-721 token guarantees the validity of unique items. The entire transactional history and the current item value on the blockchain will be quick and easy to gather. GamerToken introduces new and exciting possibilities in the in-game item trade. Ambitious players can increase the marketplace value of one of their items for example through their Twitch streaming channels by performing outstanding actions. For instance, a unique camouflage suit of an eSports sniper used in a pro-gamer’s eSports career can become a precious collectible when linked to a GamerToken, just like the signed jersey of a famous football player. In design competitions, gamers can design their own skin collections for online roleplaying games in exchange for recognition within the community as well as for GamerToken on the marketplace.