Welcome to my Gameflip Review!
There has been some buzz with Gameflip ICO in presale and the Crowdsale just a couple weeks away.
So lets look at the actual product and see if Gameflip is for real or just another crypto scam.
Gameflip Review – Whats it All Mean?
Lets take a closer look at the company.
Since Gameflips inception they are trying to create a safe and frictionless digital marketplace.
Their target market is video gamers globally. Electroneum is another very popular ICO that will also be marketing to gamers.
Gameflip has built a platform where gamers can buy and sell digital goods.
So what does this all mean? Well we all know just how big the gaming industry is. It’s huge.
- Gameflip claims over 2 million gamers are buying and selling gaming items safely.
- There are over 10 million web views and 2 million Mobile App accesses monthly.
- Claims there are millions of USD transactions monthly
So what Gameflip is aiming toward is more of a decentralized ecosystem. A fully transparent and frictionless infrastructure.
Lets take a closer look at the market itself to see if it’s possible.
Gameflip – Ecosystem
Most would agree the digital market is huge however it’s far from optimal.
Digital goods that you see out there are locked within a single game.
Being an ex avid gamer myself I know just how serious gamers can be. They will pay hundreds even thousands of dollars to unlock boxes, increase skill levels, buy houses, weapons.
Live an alternative life if you will.
However, what happens when that person comes back to reality and decides to quit gaming, move out of their parents basement and gets a job?
What happens to their investment into the game and the countless hours they put into it?
Well, if you can’t sell it through some third party or their little brother it’s worth ZERO!
So when they decide to shut that game off and cancel their monthly subscription all their investment is gone.
Wouldn’t it be nice if they could sell their digital goods or transfer their crypto-token for buying and selling other digital goods to another game?
Gameflip – Market Demand
There has been a huge market and demand for something like and so far it’s been largely unmet.
It’s very common for the savvy gamer to sell accounts through forums, community markets and third party trading sites for cash.
However, this strategy presents its own challenges.
Gamers face significant friction and often lose entire accounts.
These so called unofficial marketplaces is “trade at their own risk” with no guarantees.
Gaming Transactions – Fraud?
It’s a fact that fraud is not only prevalent but also common place.
Another place gamers make transactions is Steam Community Market.
This is an official marketplace where gamers make transactions through Steam Wallet.
Fraud is less of a problem however it has it’s substantial shortcomings.
- Does not offer real cash
- You can only use Steam Wallet for other games on Steam platform
- High Transaction fees upward of 15%
Third Party Trading Sites?
- Operate with zero transparency
- Owners and managers usually non existent
- Some associated with illegal gambling
- Questionable tactics
- Only support Steam digital good leaving the rest of the gaming universe unsolved
Gameflip – Solution?
Think of FLIP as a crypto-token of fixed supply.
FLIP is trying to make it noob friendly by offering three things.
- FLIP is fractionally divisible
- Units are fungible and transferable
- It runs through Ethereum blockchain
Gameflip – Pricing and Distribution
FLIP base rate is:
- 1 FLIP is equal to 0.005 ETH
- 1 ETH is equal to 200 FLIPs
Gameflip – Bonus
First it’s important to understand FLIP capped it’s supply at 100 million.
When all 100 million tokens have been issued new ones will never be created.
We do not know exactly what the bonus will be. Supposedly they are being offered based on timing and amount purchased.
The distribution of FLIP can be see in this table:
Flip – How Can They Help?
Well it’s important to understand Gameflip is trying to:
- Expand the over size of gaming digital goods
- Create significant benefits for both gamers and game publishers
So how is Gameflip going to do this?
Their intention is to help gamers buy, sell and trade their digital goods.
Or at least that’s what they say.
So called smart contracts will help eliminate fraud.
This could be a problem in the beginning until more and more people adapt to digital currency.
Gamers will be able to send digital goods and FLIP to each other, however, both parties must have Ethereum compatible wallets.
Game publishers that FLIP will be able to:
- Sell more digital goods at higher prices
- Increase longevity of games
- Create new revenue streams
In short gamers want the option to transfer digital goods OUTSIDE of the game itself.
Gameflip Token Sale
As you can see the token pre-sale started on 13 October 2017 and ends on 20 October 2017.
The only currency that Gameflip accepts is Ethereum ETH.
Gameflip’s bonus can be seen in this diagram:
Few things to remember there is a minimum purchase of 1 ETH.
If there are any unsold tokens in the pre-sale they go into the main sale pool.
Gameflip has a pre-sale goal of 3,000 ETH.
There is a hard cap of 7,000 ETH.
Gameflip Token – Main Sale
The main sale for Gameflip begins on 1 November 2017 and goes through the entire month ending on 29 November 2017.
Few things to know.
Only accepting ETH as currency.
Bonus and minimum purchase amounts can be seen in the table above.
Any unsold tokens will be locked until 1 July 2018, and will go back to the network growth pool.
Gameflip does have a main goal of 50,000 ETH.
Also a maximum of 43,200,000 tokens in pre-sale.
Gameflip Team Members
FLIP claims everyone on their team are top notch gaming industry veterans.
Here they are I would advise doing your own research through Linkedin and other social media outlets.
Gameflip Conclusion – My Thoughts
In conclusion Gameflip does not look like a scam and has a pretty good team of gamers, technology innovators and entrepreneurs. Personally I will not be investing in Gameflip.
The company itself has been around for a while and like anything takes time to work things out. I would advise doing some research on your own.
Also whenever making investments into an ICO never spend more then your comfortable with losing. It’s very possible Gameflip tokens can go up in value over time however nothing is a guarantee.
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