According to a recent survey, the gaming industry is worth more than $115 billion and is expected to grow further in the years to come. Many of the online video games, which have turned successful, were started through crowdfunding on sites such as Indiegogo and Kickstarter. However, due to increased competition, it has become difficult to raise capital for new game projects.
To resolve that issue, a team of developers, under the umbrella Game Machine, is planning to simplify and ease investing and funding video game projects through block chain technology.
Game Machine has developed a crypto token named Gamefuel, which can be mined and later exchanged with other digital currencies. The project is structured in such a way that it will not only help gamers, but also developers and potential investors.
Notably, Game Machine has been working on the product for several months. After developing and testing the client app, the project team has recently released an Open Beta version. The Game Machine client includes a miner and a store for popular games such as Counter-Strike:Global Offensive, and Dota 2.
The platform is already seeing considerable interest from gamers. In little over a month, Game Machine has attracted more than 10,000 users. Using the platform, gamers can provide their PC’s computing power and in turn receive what they require, rather than spending their hard-earned money. Regular updates are also provided for the game machine.
Investors will be able to assess the popularity of a game with the data and then decide on the project they wish to invest. Further, the developers will be able to launch their own ICOs and host them on the Game Machine platform. There will not be any need to depend on centralized services such as Kickstart or Indiegogo, thereby eliminating transaction fees.
By next year, Game Machine is planning to release the first version of the app, one each for advertisers and investors. The mobile version of Game Machine Client for iOS is currently being developed and expected to be launched in March 2018. By 2019, Game Machine team is planning to develop a product for exchanging tokens and create an API for 3rd party resources.
Game Machine’s security is provided by a combination of Proof-of-Stake and Proof-of-Authority principles. The team is also planning to use neural networks and AI to reduce fraud. The library of games and items is expected to increase in the future.
In order to achieve its objective, Game Machine team has come up with an ICO. The token sale began on December 14, 2017 and will conclude on January 31, 2018. Early investors will get a bonus of up to 15%. Totally, 140 million GMIT tokens will be distributed through the ICO. For each 1 ETH invested by investors, 2500 GMIT tokens will be given.