The gaming industry’s ever-growing market cap shows no sign of slowing down, making it one of the best markets in terms of opportunities for businesses and new technologies to capitalize on.
Despite its rapid growth, the gaming industry is still plagued with recurring issues which should have been solved a long time ago. Instead, gamers and even developers are still affected by the same problems over and over again which calls for proper solutions to be introduced in the industry.
One of these problems is the poor payments system on many gaming platforms or organizations today.
Developers and game studios only receiving their profits after several months is not an uncommon issue; there is also the problem of high transaction and processing fees which affect developers even more as they don’t even receive the full amount of sales they’re generating!
At the same time, trading of in-game items are poorly supported which is a waste as the trading of virtual items has the potential to create a healthy economy where both gamers and game developers can benefit from.
Instead, gamers today are limited to poorly secured third-party trading sites where fraud is common among a huge list of other weaknesses in these third-party sites. Because of this, the in-game trading ecosystem is nowhere near where it should be and that needs to change quickly.
The problems mentioned above are just parts of a huge list of problems in the gaming industry. A proper solution has to be established so that the industry can bloom in the market and more importantly, give gamers the solution they truly need.
This is where Yumerium, a blockchain startup ready to change the industry, comes in.
Yumerium is a decentralized open gaming platform designed to provide a full-suite of tools and features to gamers to overcome existing problems in the gaming industry.
In terms of the platform’s functions, Yumerium is responsible for four features: as an acquisition and engagement tool for developers, a rewards-based gaming community, a crowdfunding platform, as well as a decentralized payment gateway for games and services.
The platform is developed by Subdream Labs, a team with a strong track record in the games industry particularly in influencing the flow of gaming models in recent times.
The team was also responsible for building GalaNet and gPotato, two companies that paved the way for free-to-play games to flourish which subsequently became the most popular revenue model for mobile games today.
Today, they are leading the industry in introducing the unique earn-to-play model which allows gamers to earn money or tokens from playing games instead of the other way around, perfectly summing up why the team is building the Yumerium platform.
Yumerium is led by Jikhan Jung, an experienced and well-respected individual in the Asian gaming industry. Along with co-founders Francisco Martin, Jaehyun Lee, and Jaeheon Kim, Jung will lead the Yumerium team to establish itself as the prime platform for all gaming-related solutions in the future with its features.
As mentioned in the previous section, Yumerium has four main uses to users of the platform:
- Used as a user acquisition and engagement tool for game developers and studios
- Used as a gaming community that rewards players for engagement
- Used as a crowdfunding platform
- Used a next-gen decentralized payment gateway
User acquisition and engagement in Yumerium
Game developers who decide to register their game on Yumerium receive a certain amount of YUM (the platform’s cryptocurrency) which acts as an initial capital for them to attract new players.
YUM can be used by developers to run marketing campaigns like bonuses for referrals or through bounty campaigns. Developers don’t have to worry about spending a lot of money on the marketing as the initial YUM needed to run campaigns is already provided by the platform, making it a cost-effective option for budget-limited developers.
To earn more YUM, developers would have to ensure that there are enough players in their games and more importantly, these players must also be engaged enough to spend on in-game items or currency.
This is because players earn YUM by playing games on the Yumeria platform which is then used to purchase in-game items or currency
The YUM spent in-game will then be received by developers to be used for marketing campaigns again which creates a healthy cycle that benefits both players and developers.
Rewards-based gaming community
The platform also works as a community where players can share their experiences or opinions with other users and earn rewards for it.
This feature was built as a solution to encourage more user reviews on games which is an integral part of the gaming industry.
Modern gamers trust user reviews more than any other type of game reviews such as TV shows or magazines but the problem with the current state of game reviews is that they provide no real incentive for the user to leave an honest and helpful review.
In Yumerium, however, users are rewarded in YUM for leaving reviews as well as other things such as sharing links to their social network, watching promotional videos, and other helpful actions that help the community grow.
Hence, users in Yumerium are incentivized fairly for their contributions to the platform which also leads to an efficient viral marketing system for developers to benefit from.
The Yumerium crowdfunding platform
The platform will also enable crowdfunding services to game developers and studios. Funds in these campaigns are collected in YUM and can be used for marketing campaigns and goals.
Next-gen decentralized payment gateway
Yumerium plans to utilize the blockchain and smart contracts to develop a decentralized payment system which will be served to both gamers and game developers.
The payment system will be an upgrade over current payment systems in terms of efficiency, safety, and cost.
Transactions are instant while transaction fees in the Yumerium payment gateway are negligible as they cost close to nothing, allowing both gamers and developers to earn more from trades and sales.
Yumerium will be holding a token sale for the YUM token, the platform’s official cryptocurrency which will be used to power all transactions in the platform.
Here are the details of the token sale:
Token name: YUM
Token base: Ethereum
Token supply: 316,906,850
Token sale duration:Public Pre-Sale starts May 24th; Main Sale 11th July – 24th July, 2018
Token sale target: $30,000,000 (estimated)
Token exchange rate: $0.10 = 1 YUM