Cryptocurrency startup GameXCoin launches the first blockchain game platform
With the number of games increasing exponentially, game developers are competing to get gamers’ attention. This led to increased marketing costs which in turn made game developers to maximize monetization rather than maximizing fun in their games. On the gamer side, gamers are playing more games than ever and investing their time and money heavily. However, this investment becomes useless when the gamer stops playing the game. GXCWorld is a Seoul, South Korea-based crypto-game startup company solving this problems with its universal currency for games called GameXCoin (GXC).
Game developers can issue game tokens via GXC and can distribute portion of marketing expenditures to players in a form of cryptocurrency. At the same time, players can earn tokens and can even exchange them for GXC coins. This has a profound impact on the game industry: while current game industry is limited to an ecosystem that exists only virtually, GXC can act as a bridge for game economies to be connected to the real world economy.
Today, GXCWorld, the developer of blockchain game platform GameXCoin, announced the launch of its game blockchain technology suite: betanet of its core blockchain “GXC”, cryptocurrency storage service “GXC Wallet”, game cryptocurrency exchange “GXC DEX” and 3 demo games. GameXCoin (GXC) is a universal currency for games built on blockchain technologies. Also, GXC platform works as a currency exchange between games while also as a game marketing platform.
Founded in 2017 by Kai Kim, GXCWorld is a technology-driven blockchain developer and game cryptocurrency exchange partnering with game developers including Neowiz and XLGames. Kai, a Computer Science graduate from Yonsei University, started his career as a software engineer in 1999 focusing on mass-storage servers and games. He was founded, a paid solution firm, and worked with Nice Information & Telecommunication, South Korea’s major fintech company, to launch Payat, a mobile payment service that processes 300 billion Korean Won ($ 300 million USD) in transactions each year. As Kai took a deep interest in blockchain since 2016, he started the GXC project based on his background in game development and the experience as a gamer.
GXC provides a technology infrastructure for game developers to integrate their in-game currency on a blockchain. With GXC, game developers can issue game currencies on the GXC blockchain and the GXC coin becomes the key currency for trades between different game currencies. Using issued cryptocurrencies, game developers construct reward system that entertain players and incentivize players to return to the game.
GXC has the capability to process over 5,000 transactions per second making it ready for real world application on games. The demo games show how a game developer can integrate GXC to build a blockchain-enabled games as well as how game players can collect cryptocurrency and how they can trade cryptocurrency with other players.
GXCWorld has created a highly customized version of EOS optimized for gaming. “We have modified EOS to improve blockchain governance, resource distribution and the formation of block producers,” said Jin Yang, the CTO of GXCWorld.
“With GXC, game developers can transform any game title into a cryptocurrency-enabled game,” said Kai Kim, the CEO at GXCWorld. “This beta launching is the beginning of our effort. We are creating a decentralized game platform where game players can enjoy game contents as well as make money. This paradigm shift introduces a new way of enjoying video games.” Gangseok Kim, the co-founder of Bluehole, a global game developer of PlayerUnknown’s Battlegrounds, recently joined GXCWorld as a strategic advisor.