GamerToken (GTX) - Marketplace for gamers to buy, sell unique in-game items



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    GAMERTOKEN - A REWARDING GAMER CURRENCY

    In order to create an open gaming environment with truly unique (non-fungible) items, as
    well as compensating gamers for the effort and skill they put into games, we’ve developed
    GamerToken, an ERC-20-compatible utility token that empowers gamers. It is built on the
    Ethereum blockchain, and it will be used across the ecosystem by gamers, developers, and
    publishers. GamerToken can be utilized for rewarding skilled and/or valuable behavior,
    connecting game economies, and as royalty payments for asset designers. To ensure
    everlasting uniqueness and verifiable scarcity of non-fungible game items, we use the
    ERC-721 token standard.
    There are 5 primary ways that players can acquire GamerToken:
    1. By participating in our Token Generation Event.
    2. Earning them as rewards through skill-based, in-game actions
    and achievements.
    3. Receiving them in the form of proceeds for selling and trading digital assets.
    4. Buying them in our global Token Store.
    5. Collecting them as royalty payments for designing digital assets.


    Gamers are no strangers to digital currencies within games, but until now, these currencies
    have had very little cross-game utility. GamerToken will be the currency and reward
    mechanism for the global gaming marketplace. By using the Ethereum blockchain and
    universal standards for exchange, GamerToken will be an industry-wide, open ecosystem;
    benefiting publishers, developers, and gamers.
    To integrate with the GamerToken ecosystem, developers will only need to integrate a
    single API to create unique game items, enable in-game item purchasing, and process
    marketplace asset transactions, all supported by the Ethereum blockchain.

    CREATING A DIGITAL ASSETS MARKETPLACE FOR THE GAMING INDUSTRY


    When it comes time to clean out old inventory, gamers have extremely limited choices for
    exchanging items within game economies or other exchanges. Generally speaking, game
    items cannot easily be exchanged for real value. Each game’s economy acts as a walled
    garden, making items non-transferable outside the games. In the real world, consumers
    can liquidate their existing assets, such as cars, homes, and other belongings, to make way
    for shifting preferences, thus capturing more overall utility. We believe it should be the
    same way in the digital world.

    A Marketplace Founded and Supported By Developers and Publishers

    Existing third party marketplaces that do support external commerce often operate in the
    dark, outside of the control of the game creators and publishers. This gives rise to fraud,
    hacking, and exorbitant fees. These marketplaces don’t have support from game publishers
    and have no influence on the development of the game. We want to unify this fragmented
    set of secondary markets and create an ecosystem that is open to all publishers and

    developers. In order to connect the economies of multiple games together and empower
    gamers to buy and sell digital assets, we will introduce a blockchain-powered
    marketplace where all gamers, publishers, and developers can participate and get their
    fair share.

    This digital assets marketplace will function based on a traditional API, giving game
    industry participants the tools they need to buy, sell, and manage digital assets. Gamers
    will now have access to a universal marketplace where they can earn supplemental
    income via GamerToken - by selling their special items and excess inventory. Proceeds
    from items sold will go primarily to the gamer that sold them. A portion of the sale will be
    allocated to the game developers and/or publishers who originally created or licensed
    the items. The goal of this decentralized marketplace is to act as a neutral economic hub
    that promotes free trade and provides rewards for gamers in a safe, sustainable manner.



    We believe digital assets and rewards on the Marketplace will beneficially link game
    economies together, promoting growth and stimulating community engagement.
    Developers and publishers will be able to list unique, non-fungible items and characters in
    GamerToken. In a later phase, they’ll be able to list other game items, beta keys, and
    design contests. Smart contract powered trades and payments will lead to greatly
    reduced fees and increased transparency within the Marketplace.

    Enhancing Items and Characters with Non-Fungible Tokens Based on ERC-721

    As players increasingly wish to individualise themselves within their gaming communities,
    we believe it is essential to build a system that supports them; a system that introduces
    unique and exclusive items to further meet gamers’ needs and desires. We want to provide
    developers with the ability to enhance the security and uniqueness of their digital assets.
    Non-fungible tokens (“NFTs”), using the proposed ERC-721 Ethereum token standard
    (finalized in Q1 2018), are a perfect use case for enhancing exclusive in-game items. They
    can be thought of as similar to traditional tokens, with the significant difference that each
    ERC-721 token is unique and independent. This allows token-ownership history to be
    tracked.


    Tracking of ownership of these tokens is enabled through our Universal API, vastly easing
    the integration process. By adopting ERC-721 for in-game, tradable assets or characters,
    all parties automatically receive a variety of benefits and properties, including
    cryptographic ownership, verifiable rarity, access to a global, fair marketplace with atomic
    swaps, and more.
    With the combination of ERC-20-compliant tokens for purchase and reward and ERC-721
    tokens for unique items, together with the canonical OpenZeppelin implementation, we
    will create a strong ecosystem where items harness real value.


    Creating True Digital Scarcity

    Understanding non-fungibility is best understood through the example of artwork - an
    original piece of art cannot be considered as the exact equivalent of any other piece of
    art. Currently, game items are fungible; cosmetic items (skins) for characters, can be minted
    an infinite number of times by a game’s developer, making them less unique and their
    value unpredictable. If instead some skins were made into non-fungible tokenized items,
    then they could be issued in limited quantities - making them uniquely valuable and
    identifiable on the Ethereum blockchain.
    Non-fungible tokenized items owned by pro-gamers could become highly sought after for
    their nostalgic value, like traditional sports memorabilia previously owned by pro athletes.
    Just as Lebron James’ signed jersey worn the night he won the NBA Finals is worth more
    than an ‘off the shelf’ Lebron jersey, cosmetic items worn by eSports world champions
    could become highly desirable. Powered by smart contracts, cosmetic items created on
    this universal marketplace as non-fungible tokens are verifiably rare, and can be tracked
    by players and developers as they get exchanged throughout the community.
    This will give gamers a superior sense of ownership and security as they will have
    unprecedented control over their rarest items. We believe these specialized types of
    tokens are an obvious next step for representing in-game items; by making in-game items
    non-fungible tokens on the Ethereum blockchain, every actor in the system benefits:
    •Developers can cryptographically verify ownership of in-game items,
    minimizing the possibilities of external scams. They also get automatic
    inclusion into the global ecosystem of tooling that manages these in-game
    items and access to technology that enables atomic transfers, without the need
    to develop it on their own.
    •Publishers can dictate the rarity of legendary cosmetic items across their
    games using smart contracts, creating trust between themselves and gamers,
    as well as introducing digital scarcity among rare items. Publishers also get
    visibility into ownership history, usage within games, and purchasing habits on
    secondary markets.
    •Gamers can transfer their hard-earned, in-game digital assets between
    games. They’ll experience less friction when purchasing in-game items and
    migrating between games, making them more likely to spend tokens, thus
    further stimulating the economy. They can also trust in the verifiable scarcity of
    in-game items, without worry that the developer will unnecessarily create
    more, diluting their value. Furthermore, gamers can create their own unique
    content to be added to games, in exchange for token rewards.

    To support the global marketplace for in-game items, developers integrating GamerToken
    into their games will be able to utilize the Ethereum blockchain to track their high-value or
    rare in-game items using non-fungible token standards. By operating on these shared
    standards, all parties can immediately and easily participate in the global marketplace.
    Besides enabling never-before-seen interoperability between developers and gamers,
    adopting an NFT standard for rare items allows gamers and developers to capture
    additional dimensions of value.


    What is GamerToken?

    GamerToken is creating a marketplace for gamers to buy, sell, and design unique in-game items. It’s also a transactional currency for the gaming world, which rewards players for their activities in-game.

    The unique digital assets on the marketplace, such as rare skins, are powered by the ERC-721 token standard, giving gamers the ability to have verifiable scarcity and secure ownership of their valuable in-game items.

    Rewards in-game and items on the marketplace are priced in GamerToken, an ERC-20 compatible token powered by open-source smart contracts. GamerToken will power an industry-wide, open ecosystem that benefits publishers, developers, and gamers.

    GAMERTOKEN IN DETAIL

    In cooperation with developers and publishers, GamerToken has been designed by
    gamers, for gamers. The various use cases, processes, and mechanisms have been
    critically analysed. A working product demo has already been implemented and
    launched on a test server for the popular, MMORPG (Massively Multiplayer Online Role
    Playing Game) ‘Fiesta Online’. Further testing is underway with our launch partner, as we
    optimize processes and features.


    ONBOARDING THE ECOSYSTEM

    Account Creation

    Every user participating in our blockchain-based system generates a public and private
    key pair (account) in order to cryptographically manage their in-game assets and
    GamerToken. The public key is their unique identifier and their address on the Ethereum
    blockchain. The private key is used to sign transactions that affect the network state.
    If a user doesn’t have an account yet or doesn’t know how to set it up, our API offers an
    account creation workflow to automatically create one during the game’s onboarding
    process. This ensures that registering for a game is no more complex than before. If the
    user already has an account, then he/she simply needs to sign-up with our wallet and
    provide their public address. Once the user has set up their wallet, they are able to
    acquire GamerToken through our global Token Store with different crypto and fiat
    currencies


    User Wallet

    Once the wallet is created, the user is able to receive in-game rewards and items to fill it.
    Within the wallet, the user is able to look up their transactions as well as their unique
    non-fungible items. This account will also be used to trade items on the marketplace.
    The ecosystem is open for everybody to join - just a valid, verified email address is
    required for entry. Any activity that might move GamerToken outside of the ecosystem, like
    using the Marketplace, requires compliance with regulations including age verification—to
    satisfy this, a KYC (‘know your customer’) process is required.

    IN-GAME REWARDS

    Earning GamerToken through in-game actions and achievements will give players a more
    tangible sense of accomplishment. Being able to reward players for defeating a raid
    boss, reaching a level cap, interacting with advertisements, or participating in a daily
    lucky-draw are some ways developers will be able to integrate GamerToken directly into
    their games and stimulate deeper engagement.


    Each developer is free to decide reward requirements and reward levels. By granting this
    level of autonomy to developers, we provide them with the power to imaginatively utilise
    rewards in innumerable ways. Implementation itself is simple; the developer integrates our
    API and creates a developer account to hold the GamerToken funds that power the gamer
    rewards. Once rewards are defined, the rules of those achievements will be automatically
    transformed into smart contracts which distribute the tokens. If the reward mechanics need
    to be balanced, the developer is able to deploy new smart contracts with the adaptations
    needed.


    NEW STREAM OF REVENUE FROM MARKETPLACE SALE PROCEEDS

    The marketplace will provide developers with an easy-to-use, back-end solution for
    creating non-fungible items. When game items are sold on the marketplace, a portion of
    the proceeds go to the developer or publisher who can then choose to put that
    GamerToken back into developing more content or rewarding players. These item sales
    create a new stream of revenue for the developers while also increasing the engagement
    and transparency of the game’s economy.

    PREVENTING BAD ACTORS

    Tokens will be staked by vendors of virtual goods and services to promote market safety
    and prevent bad behavior. Those issuing virtual goods and services should be held
    accountable to fairly delivering value to gamers in the long term. A game developer or
    publisher is able to change direct attributes of an environment around virtual goods and
    services to affect their value. This possibility puts gamers at risk, so it is important to set
    prospective financial penalties for bad behavior.
    When vendors of virtual goods and services first join the marketplace ecosystem, they are
    required to stake a minimum amount of GamerToken to begin listing items on the
    marketplace. As the ecosystem matures, staking requirements will scale to the size of the
    in-game economy on the marketplace. This stake can be claimed against by leaders of
    the gaming community who represent an interest in protecting fairness for gamers.
    Arbitration will initially be handled by a board of community-approved representatives,
    but will eventually utilize a decentralized solution.
    Community leaders who wish to challenge the stakes of virtual goods and services
    vendors will be required to stake to prevent fraudulent activity. Initially, key, long-standing
    members of the respective game communities will be eligible to stake. After demonstrating
    that they understand the needs of the community and have a firm grasp on how the ingame
    economy functions, staking requirements may be reduced for community leaders.

    ENSURING HIGH-QUALITY CONTENT

    The GamerToken ecosystem enables designers of virtual goods and services a
    straightforward method of creating new content and collecting royalties. It adds the
    prospect of bounty rewards in addition to existing social and in-game item incentives,
    allowing developers to crowdsource content from the community with a fair and
    understandable structure. Through events such as design competitions, this process aims to
    unlock a plethora of community-created content.

    Partially as a result of the financial incentives, many designers are expected to participate
    in the ecosystem - causing a degree of network congestion. To prevent low-quality ideas
    (for virtual goods and services) from flooding the design events, participants may be
    required to provide a minimum stake or entry fee.


    For Details read white Paper:

    TECHNOLOGY & FEATURES

    GamerToken aims to use the Ethereum blockchain to unify in-game spending and the
    exchange of digital assets on our global marketplace. Our goal is to become the global
    transactional currency for trading items in the gaming ecosystem and rewarding gamers
    for playtime and in-game achievements. By unifying the ecosystem, GamerToken truly
    empowers gamers to own value that they create.

    FEATURES
    We will create:
    •GamerToken, an ERC-20-compatible token on the Ethereum blockchain,
    •ERC-721 non-fungible token infrastructure for denoting in-game assets,
    •ERC-735 compliant in-game achievements,
    •A universal API that:


    · integrates the ecosystem using traditional methods,
    · creates and manages user wallets, GamerToken, and digital assets,
    · creates and manages publisher reward mechanisms, and
    · makes and validates GamerToken payment transactions.
    •A global marketplace
    · to exchange digital gaming goods,
    · supported by the Universal API,
    · and delivered to gamers, publishers, and developers as a web app.
    •A token store
    · to buy GamerToken
    •A creators’ portal
    · enabling simple ecosystem integration for publishers and developers.


    THE GAMERTOKEN

    GamerToken is a finite-supply token representing a transactional and reward currency
    used throughout games in the network. It is used to reward player actions, purchase ingame
    currency and transact on the marketplace.
    The finalized ERC-20 standard results in a poor user-experience because it requires two
    separate Ethereum transactions to process a payment; first, a contract needs userapproval
    to accept an ERC-20 token, second, the user must instruct the contract to debit
    their account in exchange for some good or service.
    The primary cause of this issue is that during token transfers, ERC-20 does not inform the
    receiving address about their new tokens. Proposed standards, ERC-223, ERC-777, and
    ERC-827 solve this issue in similar ways. They provide a function that notifies the receiver
    of token transfers. Using these proposed standards, the interaction would only require a
    single user-transaction, thus simplifying the experience while reducing transaction costs
    and system overheads.
    GamerToken will implement whichever standard receives the most community consensus
    and allows for single-transaction payments.


    NON-FUNGIBLE IN-GAME ASSETS / ERC-721

    Tradable in-game assets are represented as ERC-721 non-fungible tokens. This standard
    allows a smart contract to track token-ownership at the individual token level: each item
    has a unique identifier and, optionally, unique properties stored as metadata. By using this


    open standard across all games in the ecosystem, we facilitate a global marketplace that
    can atomically transfer in-game assets in exchange for GamerToken.
    The ERC-721 standard has been finalized in Q1 2018. The canonical OpenZeppelin
    implementation will be the basis for the in-game items within the GamerToken ecosystem.
    Developers can track ownership of these tokens through our Universal API, vastly easing
    the integration process. This API offers developers all of the information necessary for
    tracking item-ownership, as well as detailed ownership history and historical prices.
    The non-fungible items can be acquired in the normal games store (marked as “unique
    non-fungible”) as well as acquired and traded via the Marketplace
    Strategic guidelines for the non-fungible ecosystem will ensure its success:
    •Although there are no technical limits for the amount of items that exist,
    developers should spawn a limited amount of items—this underlines
    their uniqueness.
    •The cost to create new non-fungible items serves as an entry barrier,
    disparaging the creation of an overabundance of items—non-fungible items
    should remain “special”.
    •Metadata stored on the chain cannot be changed—item properties
    are immutable.
    Visual representation of the NFT item in-game would be possible with the support of the
    game developer by creating specific assets for these special items.



    UNIVERSAL API

    To integrate with the GamerToken ecosystem, developers need to only integrate a single
    API to create unique game items, buy in-game currency, and process marketplace
    transactions, all supported by the Ethereum blockchain.
    We will offer the Universal API and SDKs for interacting with the GamerToken and the
    various in-game assets owned by the user. The Universal API provides convenient access
    to the rest of the network, saving developers the countless hours they would have to spend
    building payment-infrastructure, marketplaces, trading logic, and more.

    HANDLING GAMER PURCHASES

    Developers need to be able to react to gamers purchasing game content and trading
    in-game items via the global marketplace. These events are exposed as traditional
    webhook events which a game server can listen to and operate on.

    PAYMENTS WITH GAMERTOKEN

    GamerToken can be used for the purchase of dedicated in-game currencies and items.
    Developers can integrate their games with the Universal API in order to accept payments
    in GamerToken, much like existing payment network APIs. From there, they can accept
    GamerToken in exchange for in-game items or game-specific currencies.


    REWARDING GAMERS

    Developers can easily reward gamers for in-game actions from the dedicated game
    reward pool—by calling the Universal API or using the Reward Contracts directly—
    indicating the rewarded user and the reason for the reward.

    Reward Pool

    A percentage of purchases made with GamerToken in the Marketplace and in in-game
    cash stores, will be used to replenish the GamerToken reward pool used to reward
    gamers for their activity in the games. In addition publishers and developers can make
    more GamerToken available if they wish. Rewarding users is implemented as a smart
    contract from which approved contracts (“Reward Contracts”) can transfer tokens after
    reward criteria have been met, as decided by the developer and publishers of games in
    the network.


    Reward Contracts

    Game publishers and developers that wish to reward gamers for in-game actions can
    deploy reward contracts. These contracts simply state, in code, which rewardable action
    has to be fulfilled, and how many GamerToken this action is worth. This allows publishers
    to easily and transparently reward players the correct amount of GamerToken based on
    their actions.


    TEAM

    The team of The Laurel Foundry consists of a combination of experienced technical,
    marketing, and game specialists. Together, they have over fifty years of cumulative
    experience in the games industry.
    The team has been hard at work, preparing the project for months. They’ve been having
    thorough discussions, and working through various changes and optimisations to ensure
    that the product is the best that it can be. The team is proud to have the first game running
    that showcases the primary features of GamerToken. But they’re eager to continue working
    hard to get a better, faster future, and thereby actualise the groundbreaking GamerToken
    vision.


    The Laurel Foundry GamerToken team is closely cooperating with the Consensys and
    Token Foundry team. Special thanks to Chris Gonsalves, Wayne Chang, Matt Condon,
    Stuart Hunter, Tyler Ward, Jay Thakrar, Harrison Hines and, Alex Sinclair Lack who
    are of great help in supporting us.


    Links:

    Website:https://gamertoken.io/

    twitter:https://twitter.com/GTokenOffi...

    facebook:https://www.facebook.com/Gamer...

    blog:https://medium.com/@GamerToken

    telegram:https://t.me/gamertoken

    linkedin:https://www.linkedin.com/compa...

    youtube:https://www.youtube.com/channe...

    instagram:https://www.instagram.com/game...

    reddit:https://www.reddit.com/r/gamer...




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