A blockchain-based gaming company which offers its own cryptocurrency for in-game purchases has announced it is collaborating with a fantasy sports giant and offering free tournaments to mark the World Cup.
GameCredits is teaming up with FanDuel, a large daily fantasy sports company, and says the competitions will run throughout the major sporting event. As well as $35,000 in cash, the prize pool also offers $100,000 worth of GAME – the platform’s cryptocurrency.
It is hoped that the fantasy football tournaments, which commence on June 14 and run until July 15 – the date of the World Cup final – will help introduce a whole new audience to the GAME currency.
The company says it has long wanted to break into the world of fantasy sports – especially since Matt Fortnow joined its team. GameCredits says he created the very first site in this now bustling marketplace all the way back in 1999 and ended up selling the company to CBS, the US entertainment giant.
After news of the collaboration emerged, Mr Fortnow said: “Working with FanDuel presents an exciting opportunity to establish a presence among fantasy sports users and to continue to grow awareness for GameCredits globally.”
According to GameCredits, FanDuel has built a community of more than 6 million players since launch, generating more than $4.5 billion in payouts to its community.
“By gamers, for gamers”
GameCredits offers a suite of products designed to cater to developers, as well as the gamers they wish to reach with their titles.
Among them is GPlay, a gaming store where developers receive 90 percent of the revenues generated from sales as well as in-game content. The company says this figure is substantially more than the market average, as the likes of Google Play and Apple’s App Store take as much as 30 percent commission when purchases are made.
Players also have the chance to earn GAME currency through an app known as GShare. Here, gamers lease the unused GPU and CPU cycles in their PC, earning crypto in the process. From here, the funds can be used to purchase “the best, newest and most popular PC games” – often at a discount.
This is coupled with GWallet, a universal wallet which is designed specifically for buying games and purchasing extras in play.
Now a 100-strong team with team members in Russia, Serbia, India, the US – GameCredits says the company’s founders are “first and foremost gamers” who are determined to change the industry for the better. They argue that gaming has been unfairly dismissed as a waste of time, when in fact it can relieve stress and be used as an educational tool.
Benefits for developers and gamers
GameCredits says its ecosystem benefits developers by ensuring they receive payments faster. Whereas some platforms impose a 60-day waiting time before remuneration is delivered, the company says its creatives can expect compensation to arrive within 60 hours instead.
The young company, established in 2016, also hopes to boost the revenue potential of developers by introducing “limitless deposits,” helping earnings to rise substantially. At the same time, it believes its blockchain technology will help cut the levels of fraud seen when virtual transactions are being made.
The platform also aims to enhance the purchasing power of players by ensuring that the credits earned in one title can be easily transferred to another through the universal wallet.
By Connor Blenkinsop