WARSAW, Poland, August 30, 2017 /PRNewswire
Kinguin.net, will expand its existing marketplace solutions. Project includes trading capabilities for game and in-game items by building and integrating a trading platform using the latest technologies: Ethereum blockchain network, smart contracts and decentralized apps. This will enhance the ability for gamers to buy, sell trade games including in-game items safely.
Kinguin aims to build a platform that will create greater transparency and increase security from fraudulent transactions. Gamers will still collect & trade game keys, items, and other collectibles on a platform designed to be a one-stop shop for their digital buying & trading needs.
The ethereum network will be used to build a decentralized app for backing and storing the information in its blockchain network. Any changes made in this network are secured on a shared ledger by strong cryptography and need to be agreed by the majority. This prevents fraud or data mutability, ensures transparency in trading and gives the project a competitive advantage in the marketplace. This will benefit the millions of existing Kinguin users and expand the Kinguin customer base.
Photo: Kinguin with blockchain (credits: PRNewsfoto/Kinguin)
Kinguin also plans to announce its Initial Coin Offering (ICO) as part of their wider expansion plans in beginning of 2018. ICO funds will support the development of a comprehensive ecosystem for its new trading platform.
This new blockchain implementation coupled with the Kinguin eco-system will enable users to accept Steam, Origin, and Indie developer games. As a result, Kinguin's global reach and business expansions are expected to strengthen adoption rate for Kinguin tokens.
Kinguin is going to start onboarding its existing network of Indie game developers immediately, saving all partners and publishers any additional legal work.
Date of launch of the new game trading platform will be announced later.