Hello everybody!
Today it is August 18 and we will review another ICO. Dmarket. Dmarket is a decentralized marketplace for virtual items basically for game items. First, when I reviewed that project I sort of did not pay enough attention to it. And right now after going through it a couple times and reading several reviews on mass media I think it worth a while and I want to take a closer look.
From what I figured out the potential market of that project is huge which is 2.2 billion people of 7.5 billion people from all over the world. Virtual items as we know were already sold for many years. It all started after release of World of Warcraft in 2004.Virtual item selling business had launched right after that.
Let's take a look at the website and they propose us. The team is very interesting. The CEO is the founder of skins.cash. It was launched in the mid 2016 and it is second largest marketplace for virtual items. Just in case I decided to take a look at this tool. You might know it. It is similar web. This is how you can check that the website actually exists and has trafic. So I had notice some interesting things. This website has over a million visitors per month. Most of them come from Russia but in any case looks like it is real and they have some results in the market.
So this guy had decided to put blockchain technology into that marketplace. He attracted a couple people. One of them is CTO - Sergey Nemesh who is blockchain developer. And the other one is Andriy Khavryuchenko who was a senior developer at DASH. So they have enough experience to integrate blockchain technology. The team also has this guy Alexander Kokhanovskyy which is besides everything else shareholder of ESforce Holdings which is 3rd biggest e-Sports entity funded by USM Group.
I would say that those guys have enough potential for marketing that project. After reviewing the market of virtual items I had identified several things that I want to share with you.
First of all the market is huge. It is really huge.
Second thing if those guys will integrate a lot of games using their API that will open a new market of used items. And what might appear is durability. Probably those of you who had played online games understand what I am talking about. The reality is you can actually track the history of the item. If some experienced player will start selling his items someway down the road everybody will understand that this item you had bought belonged to that experienced guy that everybody knows. Well. That is not a bad thing for the game world you know. That changes the game a bit.
The other thing if they will integrate using their API e-commerce that will allow any e-commerce project to start selling virtual items and it will attract new customers to that market and increase trade volume.
I do not want to be too optimistic about this project. They do not have any MVP yet. The only thing those guys have on github is smart contracts.
Now the roadmap. See they had launch in June 2016 the skins.cash and now in June 2017 they decided to do the ICO. All the social activity started in the end of June. We will review the social networks later.
What they are planning to do is after the token sale they are planning to have main development phase in the mid of next year. So they are planning to spend 6 to 9 months and then do the first steps of global marketing influencing in the end of next year.
Of course from what I read from the interview of the ICO they are planning to do expansion even first 12 month of company evolvement. They are planning to add 50 games and attract 10 million audience during that time. I do not know if that will be 10 million but 1 million from skins.cash will be already a good start for a project like that.
Tokens will be used within the platform. They are planning to give the biggest amount of commission to game developers. That englishes the new way of monetization of their games and probably will motivate the companies that create games to join their partner network.
Let's see who are already their partners. GSC Game World
developer of S.T.A.L.K.E.R., 4A Games developers of Metro 2033 and Tatem Games (mobile game developers).
That is not bad.
Let`s see what they have in their twitter. They had started twitter in July less than a month. They have realistic number of likes and reposts according to their number of followers. They got enough on their reddit to describe what they are doing.
Let`s take a look at their white paper. The most important part for me is the token distribution. I had noticed that they do not have an escrow. So I decided to watch the interview that was done by their CEO a couple days ago where he said that they will not have an escrow. Keep that in mind. We hope that is not a scam, it does not look like a scam. It is very interesting project. I want to remind you that I am doing those videos only for educational purposes. I am sharing my personal opinion.
What I had noticed from their website and one pager they did pretty good job in marketing. Looks like they know what they are doing.
I hope this project will succeed. They can get most of the market that is not even their right now. I did not find any competitors among blockchain projects. Probably competitors will appear as soon as they will start. But the one who will be first might get the biggest piece of the cake. The ICO had already started.
Let's discuss in comments if you want to invest in this project or not? Why? We still have time to take part in that ICO. We wish good luck to DMarket team and we will review their progress according to their RoadMap.
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