An experienced team, a successful token sale, a compelling idea, and a clear understanding of its implementation are essential attributes of a promising crypto project. Not many projects have it all. Some projects like DMarket – a blockchain-based trading platform for gamers and game developers – has many of those features. Still, DMarket’s Telegram group is full of angry comments from investors. The impatience is not surprising as the ICO has finished on December 1, 2017, but DMarket Token is yet to be listed on major exchanges.
The group administrators explain the delay is related to the ongoing comprehensive legal research. Such a meticulousness is understandable amid the increased attention to the crypto market from the U.S. Securities and Exchange Commission (SEC). In this case, taking time to adapt to new conditions at the start can help avoid serious legal problems in the long run. However, not all the investors are happy with the explanation. Some of them are already urging others to get rid of DMT as soon as possible, arguing that the unlisted token indicates a failure of the project.
Is this reasonable? Everything was possible until recently. What’s changed since then? DMarket has announced a partnership with Unity Technologies, shedding new light on the situation.
DMarket is a decentralized marketplace for gamers and game developers. It leverages blockchain technology to make purchase and exchange of in-game digital assets as easy and common as buying or selling a pair of shoes. The target audience of the marketplace is nothing less than $2.3 billion gamers worldwide. But, to reach a significant part of that audience, DMarket needs to enlist the support of top game companies. This is the only way to connect plenty of games to the trading platform. And that’s why the collaboration with Unity Technologies is a real breakthrough for the project.
Unity is one of the most popular game engines overall and undoubtedly the most popular in the mobile segment. Last year, Unity games were installed more than 20 billion times on about 3 billion devices worldwide. The collaboration between Unity Technologies and DMarket includes the development of an easy-to-use software development kit (SDK) for seamless integration of the games into the trading platform.
This fact dispels doubts about DMarket’s progress while indicating a trend that can be seen as a new, more responsible approach to an ICO project implementation. We used to see token sales starting earlier than the product development. During the ICO, investors are attracted by huge discounts or bonuses, and then, after the sale, the tokens get listed on exchanges as soon as possible. This gives contributors an opportunity to sell the tokens quickly and make some money on the received ICO bonuses, but the long-term project prospects become questionable, while the token price decreases rapidly.
DMarket’s approach looks more substantial, confirming that the project team focuses on long-term efficiency rather than short-term gains. The token sale was held last November while the demo version of the platform was ready to use in October. The full launch was planned for Q1 2018, and the first deals on the platform are actually being made, as DMarket Founder’s Mark trading is going on. The price of this memorable virtual asset, limited to 1,000 items, has soared from a few cents to more than $100. First games are going to be connected to the platform pretty soon, as DMarket has already reached an agreement with several notable game studios, including an AAA game developer 4A Games. The deal with Unity Technologies is the next and probably the most prominent step on DMarket’s way to establishing the new global in-game item market.
Apparently, it’s only the beginning. To say the project is a success, we need to see plenty of Unity and other games connecting to the platform and offering gamers an opportunity to trade various in-game items across different virtual worlds. But all the necessary conditions are already there, and the DMarket’s overall approach to the token sale and project implementation is encouraging. If the project team doesn’t slow down, the investors are going to get a significant reward for their patience. After the exchange listing, DMarket Token’s price is going to be supported by the working product and essential agreements with the game industry giants, rather than the idea alone.