GameCredits is opening up its own game store in March. Consumers will be able to buy games or in-game currencies for certain games through the GameCredits shop. The store supposedly will launch with games like Fortnite, Resident Evil 2, Anthem, Kingdom Hearts 3, and Battlefield 5. The team is promising over 3000 available titles when the shop opens.
Even though it’s a major step for the GameCredits team, they are not launching the first online shop that accepts cryptocurrencies for downloadable games. Steam used to allow payments in bitcoin, while Microsoft allows consumers to buy Microsoft Points with bitcoin as well.
The GameCredits store is not a platform where you can buy codes for Steam or Origin. Games bought in the store can be downloaded directly without the need to switch to another platform. For developers there are no transaction costs, and the developers from GameCredits hardly take any cuts on their revenue.
GameCredits has its own currency, called GAME. This Proof-of-Work coin aims to be a currency for gamers. Theoretically gamers can keep their game PC running at night to collect enough GAME coins to buy a new game. GAME is make on the Scrypt protocol, which means its similar to Litecoin. However, Scrypt is compatible with so-called ASIC-miners. These computers are made for one job, and that’s mining cryptocurrencies. They are much more efficient compared with graphics cards. This means that mining using a graphics card is almost useless.
The team is working to get the coin integrated into multiple video games, and they’re developing an API that allows for accepting the coin as a payment option without the need for a full blockchain client.
At this very moment adoption for GameCredits is still limited. It’s supported by GNation, an online platform for several web games, and GStore, an online store for mobile games where developers are paid a high revenue share in GAME. However, the company did sign an agreement with Unity to integrate GPlay into their system. This will allows developers to get paid within 60 hours instead of 60 days, and they will get 90% of the revenue instead of the normal 70 percent.
Over the last week GameCredits (GAME) has seen its value going up by 19.4%. The project now has a market cap of $6.74 million. Each GAME coin is valued just above 10 dollar cents.
Also published on Medium.