What Is DMarket Cryptocurrency?
It is estimated that more than 2.3 billion individuals across the globe play video games on some digital platform or another. While the gaming industry as a whole is valued at a staggering $90 billion, only a small number – around 4,000 pro gamers – profit from this blossoming market sector.
DMarket is essentially a blockchain-based global marketplace that allows users to transform in-game items into real-world commodities. The platform is scalable and allows gamers to trade virtual items for any of their favorite game titles easily.
It is currently quite difficult for users to trade in-game items and earn money solely on the basis of their video game skills. DMarket serves to bridge this gap using smart contracts and blockchain technology.
The platform is secure, stable, and comes loaded with a host of other features such as:
- A one-click sale option
- Real-time asset evaluations
- Live exchanges
All virtual trades can be carried out between two or more gamers irrespective of the platform or console they are using.
- The platform makes use of smart contracts to serve as a link between gamers and its blockchain without the need for any intermediaries.
- All internal trades and transactions are facilitated by the native DMarket token.
- Owing to its use of an open-source API, DMarket allows third-party game developers to create their own platforms.
- It allows gamers to earn a steady revenue stream in a transparent and fair manner.
- The UI is extremely straightforward and easy to use.
First and foremost, DMarket provides blockchain enthusiasts with the opportunity to not only facilitate in-game item trades but also to create fresh digital content. Each transaction must undergo security accreditation so that only traceable processes are registered within the blockchain.
Overview of the current gaming market
Another thing which many gamers will appreciate is that DMarket allows them to switch between games without losing their arsenal of in-game items.
From the perspective of developers and publishers, DMarket embodies an intensive marketing model that allows video game titles to reach a larger, more diverse audience. Not only that, the company also organizes special events, promos, and general advertising events for games to boost their global appeal.
There are other features which really make this platform stand out:
- DMarket allows publishers to maximize their returns by providing them with fees from every exchange involving their intellectual property— i.e., in-game items.
- Gamers are able to earn a steady income stream for playing video games that they love. Additionally, since gamers are required to spend substantial amounts of time hunting for in-game items, the LTV of digital assets increases.
- One of the most underrated aspects of DMarket is that it gives gamers an opportunity to test themselves as content developers and create unique in-game assets for any game stored on DMarket.
- Since the market utilizes smart contracts, it is completely unbiased and transparent. Users can be sure that all profits are distributed automatically using terms that have been agreed upon beforehand.
How DMarket Works
To understand the workings of the DMarket ecosystem, we have to first understand its two primary components.
Visual representation of how DMarket works
In addition to all this, DMarket implements clusters built on Kubernetes. This not only helps streamline the overall efficiency of the system but also ensures stable operation of microservices within the market.
Lastly, DMarket uses an independent multimedia storage service. This service serves as a bridge between the platform and its associated blockchain, allowing for high-speed storage of media resources.
About the project
Vlad Panchenko is the founder and CEO of this venture. He is currently ranked as the #1 private merchant of digital games globally, with over 15 million titles sold via online marketplaces such as eBay, G2A, and Kinguin. Vlad is also associated with other high-profile projects:
- Founder of skins.cash, the second-largest virtual items marketplace in the world
- Founder and CEO of SunTechSoft
Alexander Kokhanovsky is the cofounder of this project. Alex has worked in the eSports industry for nearly two decades now and is also the founder of Natus Vincere, one of the most successful eSports teams in history.
Lastly, Andriy Khavryuchenko is the core system architect for DMarket. Andriy is also known for being one of the senior developers of the DASH cryptocurrency. According to his LinkedIn profile, he has been in the crypto domain for the past 6 years and has over 26 years of experience in software development.
Released into the market in February of this year, the overall value of DMT has since remained fairly stable.
DMT token lifetime performance chart (courtesy of CoinMarketCap)
The currency hit its market high on the 28th of March when it reached an impressive US$1.85 per token. However, since then, the price has dipped significantly and the value of DMT currently stands at US$0.548 (as of March 31, 2018).
With the gaming industry expanding at a scary rate, it’s expected that by the year 2020, the revenue generated by this industry will exceed US$128 billion. DMarket has the potential to disrupt this market segment and unlock the potential of in-game item trading for more than 2.3 billion people – the number of people who play games every day.
If you would like to start investing in DMarket, DMT trading pairs are currently available on platforms such as Upbit, Bittrex, EtherDelta, and IDEX.
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