When viewed from the outside, most of the processes in the crypto market may seem a bit unreal, imaginary. Rates go up and down, new coins appear, improved protocols become active. The recent trend of practical usage of cryptocurrencies destroys such impression. Market players prefer seeing virtual coins working, involving fiat money and other values.
An example of this trend is DMarket with its DMC/DMT. There is nothing real behind this cryptocurrency, only virtual objects, but they are absolutely practical in the modern world of gaming.
Real Value of Virtual Items
More and more people become involved in playing games. Many of them have a favorite title, a virtual universe that expands possibilities of the real world. Those universes are full of various objects, and some of them are tradeable among players. All kind of swords, rifles, cloaks, and other items become quite valuable for gamers and get a price in fiat money.
It’s where DMarket comes to the scene. This platform is a place to trade various in-game items, using DMC as an internal currency (called DMT on exchangers). It circulates on the Dmarket along with USD, and users can automatically buy/sell it by adding/withdrawing funds. Everything is made here for the convenience of gamers, who don’t want to bother themselves with a cryptocurrency. At the same time, DMT is circulating on exchangers like other cryptocurrencies, for market player to do their clever business.
DMarket has the blockchain technology on the basis. This project has appeared from the idea to make gamers real owners of their virtual assets. Usually, various in-game items, tradeable between players, can be easily taken away by the game developers (blocked accounts, etc.) But if they are “written” down into the blockchain, no one except the gamer will be able to manage it. The lack of such technology in the game industry is something that DMarket compensates.
There are some other projects in the area of “crypto gaming.” The obvious advantage of DMarket over them is the working beta version of the marketplace. It has been released during the successful ICO, and the team of dedicated professionals is continually adding new features to the platform. So far, two huge multiplayer games have been added to DMarket:
- Counter-Strike: Global Offensive – it’s a super popular shooter, where players are divided into teams of terrorists and counter-terrorists. They fight each other to plant/defuse a bomb, to keep/save hostages. Players get various custom images for their weapons. These skins vary in rarity.
- Dota 2 – this is a game of the MOBA genre (multiplayer battle arena online). Players control fantastic creatures and try to destroy the main stronghold of the opposite team (the Ancient). Items of Dota 2 change the appearance of virtual characters and their weapons.
Many other games are going to be added to DMarket soon, with the proper blockchain functionality. Game developers can quickly add their games to the platform, thanks to DMarket’s Software Development Kit in the Unity Technologies Asset Store.
Gaming evolves from unreal and imaginary entertainment into a big market with demanded virtual goods. And cryptocurrency involved in the trading process becomes supported by the value of in-game items. It gives a practical possibility to buy or sell virtual gaming assets – that is something in comparison to other coins.
An Evolution of the Crypto Market?
It’s not so easy to distinguish guaranteed successful ways in such a young market as this one. Some new ideas may become super profitable for some time but they are blown away later because there is nothing practical in them.
In-game items, as an example of practicality, may also seem not so perfect, unless you are personally involved in gaming. People play MOBAs and look for places to buy Dota 2 items. Fans of the shooting genre can’t live without their virtual missions, so they search where to buy CSGO skins and use them for personalizing weapons. They don’t care about DMarket Coins (or Dmarket Tokens) as a cryptocurrency, but they use it for their trading transactions.
DMarket gives an example to learn from – many current and upcoming cryptocurrency-projects may find it very, very practical.
Artem is an experienced gamer, who brings his understanding of the gaming culture into the cryptocurrency world. His primary interest is placed on the exploration of the two complementary industries, wherein he works to involve gamers in the crypto market giving them means to earn on their hobby.