So, a couple questions. GAME will be used in Fragoria to purchase in game items or some form of cosmetic features I assume. Maybe even skills, I'm not at all familiar with Fragoria and couldn't find any revenue figures for it. The revolutionary part is that you are handling the exchange on the back end so a user just has to plug in their paypal or whatever information. This brings up a few questions:
1. Credit card fraud is a pretty big issue. Any way to deal with that?
2. This is the one that I struggle with the most. Volatility. How can the game assume any sort of standardized cost for skills, equipment, cosmetics when a GAME credit could be 5 cents or 5 dollars depending on the mood of the market. Furthermore, how do you even decide what to charge a player for GAME credits? When I used the cartel market in Star Wars the Old Republic costs were standardized. This is the case with all in game markets up to this point. The way I understand it, the cost of every order of GAME would be different and you could lose or gain value on your GAME assets without doing anything. This is hardly ideal for a gamer who isn't playing the market and just wants to buy x amount of credits at a fixed rate to buy y skill which is also at a fixed rate. Imagine if everything in the Valve Steam store fluctuated wildly based on market use. It would be unusable. What am I missing that makes this model make sense?
3. What specifically is GAME used for in Fragoria?
Thanks. I have my eye on this one.
Thank you for the questions, and I'm glad you've been watching us closely.
1.Fraud for the crypto/gaming community is an incredible tricky issue. For example, I started out in the gaming world building and operating large game servers, and made quite good money. However, my biggest problem were the chargebacks that really left me with some dents in my pockets. So I know first hand the pains and struggles when it comes to this issue.
The best way to fight fraud is to create a number of verification levels that don't greatly take away from the user experience , and cut down on fraud. Thankfully, we're working directly with Datcroft (the creators of Fragoria) and they have extensive experience with fraud, along with our experience as well. Part of our test in Fragoria will allow us to see how frauders benefit, and nullify those benefits as much as possible going forward. Fraud is a delicate and complex issue. As far as the industry goes, GameCredits will remain up to date and vigilant on the newest anti-fraud tactics.
2. The average gamer spends their coins within minutes of their purchase. When they purchase GameCredits they will turn around and use them to buy in game items. These in game items are still priced in Fragoria(or one of the other games we will integrate on since Frogoria is just a beta test) gems, tokens, or other local currencies. But Game can now be used to exchange for the coins and purchase in game items, skills, etc.
Because our wallet goes to exchanges, Gamers will be purchasing GameCredits based on market value. The same would hold true when the decide to sell their coins. Now when more and more games integrate GameCredits and our volume rises dramatically, market volatility will begin to stabilize dramatically. Obviously this is big picture, but we know how many games will accept GameCredits shortly, and we're working as hard as possible to be widely accepted across the board. However, I can't say volatility is an issue, and certainly in the beginning of the GameCredits integration when fewer gamers are on board, it will be a bigger problem. By channeling gamers purchases in the market, we will accomplish something unseen to date in crypto, bringing in another form of market purchases that will increase volume and stabilize the coin. Also, there is more to the answer that I cannot simply say at this time. What I will say, is this is just a beta test. We are fully aware of all the limitations and hurtles that come with achieving our goal, and have plans to avoid/conquer such pitfalls.
3. GameCredits will be another payment method used inside of Fragoria. Gamers can use GameCredits to purchase in game items priced in Fragoria's local currencies. However, most gamers won't just adopt GameCredits based on its cryptocurrency platform alone, that would be silly to assume. To combat this, there will be incentives to use GameCredits for these purchases across all the games we integrate on. For example, in Fragoria gamers will get discounts for purchasing with GameCredits. For every 4$ purchased of GAME in our wallet they will get an extra 1$ of GAME (this dollar will come from our supply, and therefore won't just be magically appearing). This is just one use case and really the sky is the limit.
