ICO review: GGRocket Protocol
It is estimated that there are at least over 500 million game players in the world and those are the ones that have been identified through different public gaming platforms. The number could be significantly north of that stated figure. These gamers require an elaborate ecosystem where they can interact, trade and exchange game merchandise in a secure and preferably private manner if needed. However, that is not the case at the moment. The gaming industry is mostly filled with pseudonymous individuals who keep losing and stealing, cheating, harassing other players and so on. The GGRocket protocol is a company that wants to streamline and bring sanity back to the gaming industry. In particular, it seeks to solve the financial infrastructure and security of the in-game trade market. The developers have designed it as the Escrow for in-game trading.
Challenges facing the gaming industry
Safety and security – the gaming industry are economically sustainable because the players can essentially purchase goods and services, for instance, upgrading costumes and unlocking levels through gaming credits. More often there is the option to purchase these goods and services with real currency. This introduces a risk of suffering financial loses by being scammed in the gaming platforms.
Ineffective advertisements – a lot of the gaming platforms make their income through monetizing their users with techniques such as pop up ads and branding. However, these techniques could be ineffective because they could be distracting gamers and sometimes leads to undesirable gaming experiences that could lead to losing players.
Ineffective data collection, storage, and sharing – a lot of gaming platforms are centralized and not interoperable with their competition. This means that player data is siloed up in different servers across the world. AI developers and other companies that require to build applications for the gaming industry do not have access to this data.
The GGRocket platform comprises four layers in its architecture. These are the third-party dApps, platform, blockchain and the GG protocol layers. They all work together to create a seamless experience for the players. The third-party dApps layer allows the development of decentralized applications that utilize the platform’s data to create independent applications for the gaming community. The platform involves GGRocket’s services such as the wallet for GG tokens and event handlers. The blockchain is the link between GGRocket protocol and the EOS blockchain. The blockchain will be utilized for record keeping and immutability purposes. It will also ensure the standardization of the dApps developed on the GGRocket’s third-party dApps layer. Finally, the protocol will set the rules that will be used within the GGRocket ecosystem.
Better monetization of the players in different gaming platforms.
100% guaranteed protection against scams
Easier sell of goods and merchandise as the level of trust has been beefed up.
Faster dispute resolution as compared to present techniques.
Use of a standardized token (GG token) allows for cross-border trades without the need for foreign exchanges hustles.
Trades are cheaper and executed faster as well. GGRocket charges a 0.5% fee per trade which is significantly cheap compared to using credit cards such as Visa or MasterCard which could charge as much as 20%.
Token Symbol: GGT
Token Sale Date: starts October 30th, 2018 01:00 UTC
Token Price: $ 0.10 (BTC or ETH)
Accepted Cryptocurrency: BTC, ETH
Total Supply: 300,000,000
Soft Cap: $3,000,000
Hard Cap: $15,000,000
Token Sale: 150,000,000 GGT (50%)
Stable Fund: 87,000,000 GGT (29%)
Team: 45,000,000 GGT (15%)
Advisory: 15,000,000 GGT (5%)
Airdrop & Bounty: 3,000,000 GGT (1%)
Alexey Belyankin (CEO. Business development) - https://www.linkedin.com/in/alexey-belyankin-4b435915a/
Jeremy Khoo (Chief Marketer) - https://www.linkedin.com/in/jeremy-khoo/
Max Gravitt (Lead developer) - https://www.linkedin.com/in/gravitt/
Ankur Maheshwari (Blockchain Development Team lead) - https://www.linkedin.com/in/ankur-maheshwari-9ab2a215/
Alexander Yurganov (CTO. Development and technical architecture) - https://www.linkedin.com/in/alexander-yurganov-79813415b/
Viсtoria Lipatova (COO) - https://www.linkedin.com/in/yomaaan/
The project has a valid use case and a solid team to deliver on the whitepaper promises. The token economics are also sound and achievable. The hype rate is above average and the ICO target is expected to be achieved.