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A Mobile Gaming Revolution Explained

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The gaming market has long-since been one of the biggest earners in the entertainment industry. In fact, the global gaming market generated just under $110 billion in revenue in 2017 alone, $82 billion of which came from free-to-play games that offered in-app purchases (IAPs).

More recently, the mobile gaming industry has been growing by leaps and bounds. Part of the multi-billion dollar app economy, the mobile gaming market is believed to generate as much as 75% of the app market revenue– a market that’s expected to be worth $101 billion in 2020. According to a study by Apptopia, developer titan, Supercell (known for popular titles like Clash Royale and Clash of Clans) generated all but a million of their $145 million revenue in 2017 from IAPs; $114 million of Activision Blizzard’s $116 million earnings in the same year were attributed to IAPs as well.

The Future of Gaming

The future of gaming isn’t console and PC games – it’s mobile gaming. More specifically, mobile games built on the freemium model. The Chinese market alone consists of 500 million people – more gamers than the United States has citizens – and is expected to be worth $14.4 billion by 2021.

Freemium games allow users to play games for free but require IAPs for upgrades, rare items, unique skins, and other services that provide customizations or competitive advantages.

As the demand for freemium games like Candy Crush and Angry Birds increases, there’ll also be a need for better payment-processing solutions that are both attractive to developers and can handle wide-scale payments without experiencing downtime.

OPEN Platform Brings a New Solution to Games and IAPs

Currently, most game purchases and IAPs are processed through digital marketplaces like Google Play Store and Apple’s App Store. Innovative for their time, these platforms are widely ineffective in the modern gaming market because of:

    • Expensive middleman fees that can take as much as 30% of the developer’s earnings.
    • Payment cycles that last between 30 to 90 days.
    • Lack of cryptocurrency payment options.

The OPEN Platform solves this problem by giving developers a modern payment-processing solution that’s cheaper (3% transaction fees, all of which is recycled back into the developer pool for platform incentivization) and more effective than payment solutions on centralized marketplaces.

Thanks to the OPEN API, developers can integrate blockchain technology that supports all types of cryptocurrency transactions without having to make changes to their backend. Adding OPEN Platform to new and existing apps doesn’t require blockchain knowledge or blockchain programming languages like Solidity. OPEN processes IAPs as they happen, instantly sending money to the developer wallet where it’s converted to the developer’s currency of choice.

By providing a crypto payment infrastructure, OPEN connects developers with two important markets: the traditional market and the crypto market, the latter of which is worth approximately $400 billion.

By making cryptocurrency accessible and easy to use, OPEN helps bring mainstream blockchain adoption one step closer to becoming a reality. Visit the OPEN website today to learn more about the OPEN Platform and how it uses blockchain technology to make IAPs, subscriptions, and purchases easier for your new and existing applications and DApps. If you’re a developer interested in integrating OPEN Platform into your applications, check out the OPEN Developer Contest and the OPEN Roadshow, which is currently touring the Asian market looking for top talent.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Daniel Lee via Flickr

Altcoins

HODLing Stellar Is A Good Plan For 2019

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HODLing, or holding on to a certain asset or assets has always been an extremely useful investment strategy, even before cryptocurrencies were even imagined. Now, with the market being more uncertain than ever, many are wondering what is the right thing to do with the coins in their possession.

Of course, things change depending on the coin in question, but today, we are going to talk about why it is a good idea to hold on to your Stellar (XLM) in 2019.

Why You Should Hodl Stellar (XLM)

The crypto market is rich with hundreds, and even thousands of different projects at this point, and separating valuable ones from those that are destined to slowly fade away can be tricky. However, even the biggest skeptics believe that Stellar is a coin that is here to stay.

XLM was first launched in 2014, and for a long time now, it has been among the top 10 cryptos by market cap. It is an open-source, decentralized protocol that allows users to send fiat currencies by using cryptocurrency as a method of transport. In a lot of ways, it is very similar to XRP. However, the biggest difference is that Stellar aims to offer its services to regular people, while XRP is more interested in working with banks and financial institutions.

Nevertheless, sending money, especially when it comes to cross-border…

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Reasons To Invest In Electroneum In 2019

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2018 has been quite a rollercoaster for the crypto space. Coins went up and down more times than anyone could have guessed, not to mention two massive market crashes. However, in a few short weeks, the year will be over, and a new, positive period for the crypto world is expected to arrive.

While there are many predictions for 2019, today we are only interested in one thing — Electroneum (ETN). A lot of people quickly took notice of this coin, and many believe that it is among the coins of the future. Indeed, it has received a lot of attention, and many are interested in why that is, and why investing in it is a good idea. So, let’s take a look at a few reasons why you should invest in ETN in 2019.

1) It is fast

Speed and precision of any service have always been very important to people. This importance is even greater when making a profit depends on it. Electroneum developers were aware of this when they created it, and the coin is up to 5 times faster than Bitcoin. This means that ETN transactions can be confirmed much faster, which in turn reduces fees and waiting time.

Furthermore, there are also plans to create Electroneum Virtual Currency Exchange, which will allow the project to act as an exchange. However, the even…

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Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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