DMarket | A Decentralized Marketplace for in-game items

Online video games have opened up a whole new universe for people of all ages and nationalities where they can explore the far reaches of their imagination and test their skills, determination and patience against others’. While some games have grown to a point where secondary markets arise, allowing users monetize items and currency within the game, there is actually no system in place that allows users to profit from their hard earned items. This isn’t exactly the end of the world, as we do get a kick from playing the games anyway, but once you get bored of a certain game there is no way to “transport” your previous efforts to other games or to your real life.

The first ICO-Hypethon commenced August 16th and continues thru the evening of the 17th in Saint Petersburg, Russia at a creative arts studio known as Street Art Museum.

Online video games have opened up a whole new universe for people of all ages and nationalities where they can explore the far reaches of their imagination and test their skills, determination, and patience against others’. While some games have grown to a point where secondary markets arise, allowing users monetize items and currency within the game, there is actually no system in place that allows users to profit from their hard earned items. This isn’t exactly the end of the world, as we do get a kick from playing the games anyway, but once you get bored of a certain game there is no way to “transport” your previous efforts to other games or to your real life.

Well, there wasn’t. Luckily, blockchain technology is here to change that. Blockchain technology and gaming have a somewhat long and mutualistic relationship. There are several projects in the space using blockchain technology for skins and games/casinos that accept cryptocurrencies as payment for bets or upgrades in the game.  However, DMarket is taking this symbiosis between crypto and gaming to a whole new level.

DMarket is a blockchain-based marketplace for virtual items. It allows users to sell, buy, trade and get an appraisal for “every virtual item between all games on any platform”. This concept allows players to profit from their in-game efforts in many different ways. For example, if you are done with a certain game and want to start playing another one, you can actually sell your items or even trade them with a player that wants to do the same thing, even though these are different games.

To achieve this, DMarket leverages the immutability offered by the blockchain to turn each item into an asset, making it unique and impossible to forge. This characteristic also provides each item with its own history. The white paper reads:

“Smart contract technology will ensure immutable records of one’s assets, adding a unique form of memorabilia that will create a natural game certification process, forever safe on the blockchain. Thus, digital goods become truly unique. They can adapt over time and develop a different value, creating a new realm of memorabilia and collectable assets, as well as a sense of history for users. This will also add a sense of history through digital goods globally.”

Following an exchange, a smart contract system that logs changes of ownership in each asset is able to verify if the item has been transferred and will then carry out the previously agreed payments. The result is a decentralized marketplace, like eBay or amazon, where one can sell, buy or trade any item.

Within the platform, all operations are carried out with DMARKET, an Ethereum-based token that will be available during the Initial Coin Offering. The campaign started at 16:00 GMT.

To learn more about Dmarket, visit the official website and read the whitepaper.