The smart contract technologies made possible by the Ethereum ecosystem, along with the concepts of blockchain, have opened new doors in the world of gaming. The idea of cryptocurrencies has brought about an improvement as well into the in-game currency concept, with tokens that can be bought or sold in exchanges and marketplaces, and that increase in real world value.

So, what is the problem here that needs solving?

Payment solutions for gaming platforms that have been built on standard, centralized platforms have limitations that are inherent in their systems, including:

Very high transaction fees

Delays in payments to providers

Global transfer fees that vary based on location

Obvious lack of multiple party payment options

Lack of support for micro transactions in freemium models

Glaring lack of data transparency

Persistent fraud in all aspects of the gaming industry

For game developers, they are constantly bombarded with multiple different fees in place between the players purchasing the game and the developers of the game itself. Additionally, the time that it takes from a purchase inside a game to reach the developer can sometimes be upwards of 90 days, as the purchase goes through a distribution platform and content publisher.

Yumerium as the Four Horsemen of the Game-pocalypse

Yumerium has four purposes, each working to solve the above-mentioned problems in an efficient manner. They have a goal in mind to become a solid driver for engagement and acquisitions of new games on their platform. Additionally, Yumerium provides users and developers a full gaming community with rewards system.

Yumerium also acts as a complete crowdfunding platform for raising funds for the creation and development of game ideas. Finally, Yumerium and the YUM token act as a fully decentralized payment gateway, setting it far apart from the centralized alternatives.

Digging Into The Four Purposes of the Yumerium Platform

What Yumerium is all about

DRIVER FOR ENGAGEMENT AND ACQUISITIONS — All games operating on Yumerium’s blockchain platform will include allocation in YUM tokens for their initial seed, which will attract gamers to their offering. Due to this, gamers earn YUM tokens through the course of play, and through game reviews and hype. YUM is also in-game money, and can also be used by developers for marketing processes, referral bonuses, airdrops and more.

FULL GAMING COMMUNITY WITH REWARDS SYSTEM — As a community of gamers, Yumerium provides a platform for gaming aficionados to share their experiences, bringing organic viral marketing to fruition. As such, gamers providing insight are rewarded with YUM tokens. Developers of games can incorporate rewards systems and set their own rates to incentivize proactive community participation.

A COMPLETE CROWDFUNDING PLATFORM — Indie game developers and studios have the capacity to run crowdfunding campaigns like GoFundMe, Kickstarter and Indiegogo through Yumerium. All campaigns on the Yumerium platform are paid out in YUM upon success, which can, in turn, be used for the engagement and acquisitions mentioned above.

A FULLY DECENTRALIZED PAYMENT GATEWAY — Through the utilization of smart contracts and a blockchain ledger, Yumerium also exists to decentralize payment systems for games. Their processes remove third parties and middlemen from transactions between developers and gamers. Payments are instantaneous, and are transmitted to the developers, not to platform owners and then developers after a holding period. The smart contract system also works to assist in deterring and preventing fraud rampant in the current gaming industry.

Gaming Industry Market Information

The gaming industry is massive. It has currently risen to over $100 billion annually in an overall market. This number is expected to close in on $130 billion in the coming two years leading up to 2020.

The “freemium” model, where the game is free but there are in-application purchases, is a large driving factor in this boom in the past few years and pushing into the future. The blockchain-centric “earn to play” model is expected to experience an exponential rise, much like the freemium model and entire gaming industry. Yumerium plans to be a figurehead in this emerging market through rapid testing and deployment of game concepts both of their own and with game development partners.

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Taking on the massive gaming industry with new and exciting developments is a massive undertaking. To properly do this, a stellar team of professional but current leaders, developers, marketers and artists are required to work together to achieve a common vision. Does Yumerium have what it takes to drive an aging market onto a new platform?

Next Up: The Team & Adivsors