What is Gameflip?
FLIP (FLP): The Decentralized Gaming Ecosystem
FLIP (FLP) is a decentralized ecosystem designed to cater to the gaming community's needs. The platform allows gamers to trade their digital goods in cash or use other in-game items across all gaming spaces, including VR/AR, console, PC, and mobile. FLIP leverages trustless smart contracts on blockchain technology to provide secure and fast transactions. Gamers can also store or own their digital goods securely on the blockchain. Developers can independently create tools and benefit from the usage of such tools, making it a unique platform in the gaming industry.
According to the whitepaper, there are over 2.2 billion gamers worldwide who spend more than three billion hours collectively playing video games every week. However, digital goods earned by these gamers are locked within the games and have no value. FLIP was created to address these issues by unlocking the ability to trade in-game items and compensate game developers and publishers with commissions on every transaction. Gameflip, a venture-backed technology organization, operates as a robust digital goods marketplace worldwide. The platform seeks to reward game publishers with FLP tokens along with tangible economic benefits under its unique network growth model. The asset aims to offer software development kits (SDKs) and plug-ins to game publishers while allowing the team to identify the transfer of digital goods from any gamer's blockchain wallet. The network uses the FLP token as their payment method on all the applications.
FLP token is based on the ERC-20 network and uses the Ethereum blockchain technology. The platform chose Ethereum blockchain due to its flexibility and widespread adoption. Proceeds from FLP token sales are set to be used in product development (40 percent), partnerships (15 percent), administrative and general (15 percent), and partnerships (15 percent).
Gameflip founded FLIP in 2017, and the platform released its whitepaper version 5.3 in November 2017. The total supply of FLP tokens is one hundred million.
FLIP's unique features offer gamers an opportunity to monetize their in-game items, which were previously locked within the game. The platform also provides developers with tools to create their applications independently, benefitting both developers and gamers. As the gaming industry continues to expand, FLIP aims to be the go-to platform for trading digital goods.
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