DMarket, a global marketplace for trading in-game items has announced the dates of the company’s main token sale. According to CEO and founder of DMarket Volodymyr Panchenko, the second (main) phase of the token sale will start on November 3 and will continue through November 17. No further DMarket token sales will be launched after the end of phase two.
The exchange rate will be 750 tokens for 1 ETH. Minimum transaction amount is 0.1 ETH.
The hard cap of DMarket’s main token sale is 100,000,000 tokens (around $40 million).
“We are ready to allocate 25,000,000 tokens (about $10 million) hard cap for presale; investors can apply for a whitelist now. The minimum transaction for presale is $50,000. The rest of the 75,000,000 token (around $30 million) hard cap will be available for crowd sale. According to our policy, there will be a limit of DMarket tokens sold to a single pair of hands. We want to spread DMarket tokens to as many investors and real gamers as possible,” Volodymyr Panchenko said.
Recently, DMarket raised $10.9 million in investment during the four-day token sale that took place in August 2017. The exchange rate was 1,000 DMarket tokens for 1 ETH.
DMarket tokens will be the only currency for in-game economy. The number of DMarket tokens will be strictly limited. DMarket will reserve 15% of all DMarket tokens that have been sold for product development, advisors, and partners.
The cross-game platform DMarket is based on Blockchain technology and smart contracts. DMarket’s alpha version (testnet) launches in October.
With DMarket tokens, 2.3 billion players from any game on any platform will be able to buy, sell, and exchange virtual items on the new marketplace.
The estimated in-game trading turnover is currently $4 billion, and it only works for a couple of games. The core issues that lock in-game item market development are technology and trading security. During every other trade, hundreds of thousands of databases from every game and every publisher have to be synchronized with each other. But the most important factor is that there is a risk of third-party interference in the trading process. DMarket resolved both issues with Blockchain technology. By offering an opportunity to buy and sell in-game assets to all gamers globally, DMarket creates a new in-game item economy worth more than $450 billion and turns virtual items into real assets with the help of Blockchain technology.
DMarket is supported by prominent game development studios, such as 4A Games (Metro 2033, Metro: Last Light), GSC Game World (S.T.A.L.K.E.R, Cossacks series), Tatem Games (Carnivores, Vivisector, Cryostatis), and the Pantera Capital investment fund. The company is negotiating with dozens of other world publishers to sign agreements in the near future.
The company’s official advisory board consists of leaders in the gaming and Blockchain industries, as well as renowned investors. Oren Klaff (managing director at Intersection Capital), Brian Kerr (managing director at GL Ventures, founder and CEO of Fnatic Gear), Mo Levin (founder of Keynote Events, startup and Blockchain expert), Igor Matsanyuk (chairman at Games Insight, ex-vice president at Mail.ru, founder at IMI.VC and Farminers), Denis Dovgopoliy (founder of GrowthUP Group), Evgeniy Grygorovych (project leader at GSC Game World), Oleg Yavorsky (co-founder of Vostok Games), and Igor Karev (CEO at Tatem Games) are among them.