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November 29 2017

ICO Alert Report: DMarket

ICO Alert Report: DMarket

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ICO Alert Quick Facts

  • Ecosystem allowing the trade of any of your virtual game armor, skins, crystals, etc.
  • DMarket blockchain architect is the DASH developer with 26 years of experience.
  • 1 Ether = 750 DMarket tokens
  • Over 36 million tokens sold during presale.
  • Partnership with DreamTeam ICO; up to 15% bonus on DreamTeam ICO when participating in DMarket.

What is DMarket?

DMarket is the first and the only marketplace on blockchain that allows any in-game items to be traded or exchanged. No matter what the gamer possesses — whether it’s armor, crystals, or fancy skins — DMarket turns virtual items into real assets. We are creating a new economy worth more than $450 billion by giving 2.3 billion gamers worldwide an opportunity to trade in-game items from any game on any platform. Currently, estimated in-game trading turnover is around $4 billion, and this is only from a couple of games.
— Volodymyr Panchenko, Founder and CEO

Q&A

ICO Alert: How does the DMarket token function within the platform and why is it needed?

DMarket: To add all features we want to our marketplace, we need to use smart contracts. But you can’t put a $100 billion into a smart contract, so there is a need for a crypto — the DMarket Token. It will be the only one used within the actual marketplace. With DMarket Token you can buy and sell in-game items, buy premium accounts and BigData analytics, and do more. All sales commission to the intellectual property owners will be delivered in DMarket Tokens.
In addition, DMarket Token is now one of the core crypto payment currencies accepted by Xsolla, the leading payment solutions provider for the video game industry, which covers over 700 different payment methods.

ICO Alert: The DMarket team has a variety of other gaming related projects that are already very successful — what are they? How is DMarket different than Skins.cash?

DMarket: That’s true, I have had successful experience with Skins.cash. To date, it is the second biggest platform for trading virtual items and 15 million assets have been sold since it was launched. The main difference is that DMarket is based on blockchain technology. Skins.cash gives the opportunity to trade items only from four games (Counter Strike: Global Offensive, DOTA2, Team Fortress 2, and PlayerUnknown’s Battleground). DMarket opens the market to any game that integrates our API, as well as enabling cross-game trading, which is not available on Skins.cash. In Q2 2018, we will merge Skins.cash with DMarket to make it a better user experience.

ICO Alert: There are a variety of other digital good marketplace projects at the moment. What makes DMarket unique and what advantages does it have over the other projects, especially Steam?

DMarket: There are several projects that consider themselves to be our competitors, but the gap is like the Grand Canyon between us and them. Most of the existing platforms are centralized and resemble closed environments: you can trade in-game items, but you don’t actually own them and there’s no easy and safe way to cash out your money.
With DMarket’s blockchain, all virtual items become real assets, like Bitcoin or Ethereum in your wallet. The user becomes the sole owner of their virtual assets — they can buy, sell, or exchange them anytime they want.
The facts are clear: DMarket is the only blockchain-based platform that has an actual Alpha/demo version and a functioning blockchain testnet. We have agreements with well-known publishers and game developers (including AAA), with a total audience of more than 100 million people.
DMarket has a different approach to its ICO as well. Our platform is created for the gaming community and we are interested in spreading DMarket Tokens to as many investors and real gamers as possible. DMarket is selling 85% of its tokens tо eliminate the possibility of any manipulation. The remaining 15% is reserved for future product development and DMarket’s partners and advisors.
DMarket treats presale and crowdsale investors equally by having the same price tag for everyone — gamer, investor, or whale. Numerous ICO projects go over the top and overuse discounts of up to 90%.
Furthermore, we have a powerful advisory board, including Oren Klaff, managing director at Intersection Capital, Brian Kerr, managing director at GL Ventures, founder and CEO of Fnatic Gear and Moe Levin, founder of Keynote Events, a leading blockchain and crypto entrepreneur.

ICO Alert: Can you briefly describe how DMarket works through an API?

DMarket: Using DMarket’s API, every game developer can easily connect their game to DMarket and gain from the increased value, revenue, and time users spend in their games.
Our API is not limited to games only. DMarket’s API is suitable for every online business that is involved in any kind of in-game items trading. This could be either in-game items’ integration into online stores with real goods, using gaming assets in loans and payments, or even providing rare items as awards within a particular game community.

ICO Alert: DMarket boasts the ability for the creation of in-game digital assets to be created for any game stored on the DMarket blockchain. How does this work and why would someone want to do this?

DMarket: This feature will bring additional income to game developers and publishers, as with every new and rare in-game asset, the lifetime value of the game will significantly increase. The gamers’ interest will grow and they will spend more time in the game hunting for items. It means that the rightsholders will have a sustainable and long-term source of income. A nice bonus is that developers will diversify their content and expand game communities.

ICO Alert: So many people love gaming to some degree, but so few are able to profit from it part-time or full-time. Could DMarket help change this for the normal gamer?

DMarket: That’s our goal, in fact! We want to help every gamer, both pro and amateur, monetize time spent in the game and efforts made to uplevel or win the game. Monetization is a key priority of our project. DMarket will satisfy the “trade needs” of all gamers, as opposed to the other platforms that currently cover only 6% of players globally.

ICO Alert: The whitepaper states that DMarket is currently evaluating EOS, Tezos, Aeternity, Exonum, and a Bitshares fork as a base for the DMarket platform. Why not just use the Ethereum network like most other projects? What specifically is being evaluated and when will the decision be made?

DMarket: We’ve tested all of the above solutions and chose to go with Exonum. Based on Rust, the Exonum framework is currently the most expedient solution for DMarket, as it enables development of an efficiently operating blockchain in a short period of time (set timeline). This framework is able to handle up to 3,000 transactions per second and the developed blockchain ensures smooth operation, even if up to 1/3 of the nodes in the blockchain network are disabled or compromised.

ICO Alert: How far along is the project today? What does the roadmap look like for the rest of 2017 and 2018?

DMarket: We are moving in compliance with our roadmap! We’ve already launched the Alpha/demo of our future marketplace (by the way, we’re the only blockchain-based project in gaming that presented a demo version and a viable concept, that’s a fact). Anyone can go to dmarket.com and test the demo and blockchain explorer to have a better understanding of how our marketplace will work, how to assign a private key, how to set a price for an item, etc.
In Q1 2018, we’ll roll out an MVP with connected games. Starting Q2 2018, we will provide the opportunity not only to trade in-game items, but also to buy and sell games, as we will add more than 10,000 titles to our marketplace. All users will receive the most favorable price offers. Our 10 years of experience in the gaming industry and more than 5 million game copies sold in 2017 enables us to guarantee this.

ICO Alert: As a non-DMarket question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

DMarket: I see cryptocurrency being used in many areas of our daily life. This has already started happening today. Some businesses are already accepting crypto as a payment and there are ATMs available in a limited number of countries that allow for instant cash-out. With Bitcoin, you already can buy real estate in London or Miami, and rent a luxury yacht. Several weeks ago, the State Bank of Mauritius started accepting Bitcoin as collateral. That’s a brave new world we’re living in. I strongly believe that virtual assets will become an integral part of our real life in the nearest future.
I believe ICOs won’t disappear anytime soon. Speaking about the future of ICOs, I’m sure the situation will change in a couple of years with requirements becoming more and more stringent. Projects with no clear and well-thought-out whitepaper, product prototype, and such indispensable legal procedures as AML and KYC will be banned from doing an ICO to avoid fraud and investments into useless projects that are completely unfeasible from an execution point of view.
The majority of crypto projects that run ICOs today won’t be delivered at the end of the day. The main reason is that these projects don’t have a clear business model. They just want to raise money, not to build a business. Secondly, we will see most of the new well-funded projects will be categorized as securities rather than utilities. Last but not least, blockchain and protocols based on it will revolutionize a significant part of most industries.

Please note that the DMarket ICO has been extended. DMarket is partnering with DreamTeam, the first decentralized Esports and gaming recruitment and management platform. As part of the agreement, DreamTeam will sponsor 72 additional hours of the final DMarket Token sale. The ICO will now run through December 1, 2017 and will be supported by a special offer:

All DMarket Presale contributors will receive a 15% extra bonus on the DreamTeam Token sale Phase #1; all DMarket Crowdsale contributors will get a 7% bonus during the DreamTeam Token sale Phase #1.

This cooperation between two breakthrough companies will enable gamers to:
- Find relevant teams on DreamTeam while trading in-game assets on DMarket;
- Get an invite to build or join a cybersports team that is looking for gamers with relevant skills and experience;
- Be rewarded with in-game assets on DMarket’s blockchain as DreamTeam users.

Pre-ICO Information
The first phase of the ICO started on August 17, 2017 and ended August 21, 2017, selling 36,037,245 of 50,000,000 available DMarket tokens. The minimum goal was 5,000,000 DMarket tokens and the price per 1 Ether was 1,000 tokens.There was a 10% bonus on day one, 5% bonus on day two, and 3% bonus on day three.

ICO Information
The ICO began on November 14, 2017 and ends December 1, 2017 at noon EST. There are 100,000,000 DMarket tokens available for purchase and Ether, Bitcoin, and Litecoin are accepted as forms of contribution.

For every one Ether, contributors will receive 750 DMarket tokens. There is a max contribution amount of 25,000 DMarket tokens per person and a minimum contribution amount of 75 DMarket tokens. In order to contribute, you must create an account here.

DMarket is a partner of DreamTeam, so by participating in DMarket, you can earn up to a 15% bonus during the DreamTeam pre-ICO or ICO.

Token Distribution Information
Tokens will be distributed shortly after the ICO ends on December 1, 2017 at noon EST. View the contribution smart contract code here. There are a total of 150,000,00 tokens being allocated as follows:

85%: Token sale phase 1 and 2
10%: Core activities reserve
5% Advisory board and partners

Visit the DMarket website to see the Demo and Testnet.

Use of Crowdsale Proceeds
34%: Product development
32%: Marketing and advertising
18%: Game developer bonuses
10%: Sales and business analytics
6%: Administrative and general

Team
Volodymyr Panchenko, Founder and CEO
Linkedin
Volodymyr is the #1 private merchant of digital games in the world. He has sold 15,000,000 games over the past five years. He is also the founder of Skins.cash, the second biggest virtual items marketplace, that sold 12,000,000 items over the past year.

Alexander “ZeroGravity” Kokhanovskyy, Co-founder
Linkedin
Alexander has 17 years of experience in the Esports industry. He is the founder of Na’Vi (Natus Vincere), the second most popular and one of the most successful Esports teams. Finally, he is a co-owner of ESForce, the third biggest Esports entity funded by USM Holdings.

Andriy Khavryunchenko, Blockchain Architect
Linkedin
Andriy is the developer of DASH cryptocurrency, one of the top 10 largest market cap cryptocurrencies. He has been a blockchain architect for four years and has 26 years of software development experience.

Sergey Nemesh, CTO
Linkedin
Sergey is experienced in blockchain development and implementation. He has 10 years of experience in big data solutions development and has eight years of experience in AI development and integration.

Social Media
Website
Telegram

Slack
Facebook
Linkedin
Twitter
Bitcointalk
Medium
Instagram
Reddit
VK

View the DMarket Website here.

View the only comprehensive list of active and upcoming ICOs here.

References
(1) DMarket Website, DMarket, (2017)
https://dmarket.io/

(2) DMarket Whitepaper, DMarket, (2017)
https://dmarket.io/assets/documents/DMarket_white_paper_EN.pdf

Topics: Bitcoin, ICO, Crypto, Cryptocurrency, Blockchain