Korean startup GameXCoin setting a new paradigm for cryptocurrency in the gaming world

Game X Coin is the first EOS-based game encryption from South Korea.

Korean startup Blockchain Ventures with its Game X Coin (GXC) has facilitated game developers with a new gaming system using blockchain, which helps them increase the life of the games and allowing use of cryptocurrency with ease.

Developers can increase a game’s lifespan

Game X Coin (GXC) is the first EOS-based game encryption from South Korea.  It is a cryptocurrency that can be used universally among games on all platforms. Gamers can tokenize the in-game currency and trade them for any other game’s currency without censorship or friction.  The company is using blockchain technologies to remove platforms, payment gateways, and item exchanges currently taking profits from players and developers. With GXC, developers can have a bigger share of the revenues which can be spent towards creating even more exciting contents.

The number of games developed each year is growing but the life span is shorter than before and to solve this problem, Blockchain Ventures developed this entire new ecosystem which is very much similar to the real economy.  Game developers may issue GXC cryptocurrencies, with APIs and SDKs for integration with the games. The cryptocurrencies can be used as rewards corresponding to the game’s design. On the other hand, game players can use cryptocurrencies to purchase items or maybe exchange it for a Bitcoin on a third-party cryptocurrency exchange.

Promising products and progressive team

The startup has made considerable progress since its foundation in 2017. The GameXCoin received much attention in the crypto-market when all of its tokens were sold in the pre-sale in Korea with an hour’s time last year. The startup has introduced GameXPlay, a window to experience the GameXCoin ecosystem, where users can start games or view GXC blockchain information, available on App Store and Google Play Store. For developers, the company had introduced GameXPort, a page where game companies integrate their games to the GXC blockchain, and issue and manage tokens.

The startup has a very strong team of expert engineers and gaming industry stalwarts. The CEO of the company Kai Kim is an engineer, who built his early career since 1999 working on mass-storage servers and games. He also founded the payment software company Hooper. The startup’s CTO Jin Yangis a veteran with experience in blockchain science.  Blockchain Ventures’ successful foray in the gaming industry has attracted famous people in the gaming industry on their advisory board like Krafton CEO Kim Gang-seok, who joined the startup last year. Kim Gang-seok is known for online games ‘Terra’ and ‘Battle Ground’.

The company is aiming to launch GXC for 50 plus games by the third quarter of this year and get to 100 plus games by the end of 2019. The amalgamation of gaming and blockchain technology introduced with GXC is receiving rave reviews with more developers and gaming enthusiasts using it.  

About KoreaTechDesk

KoreaTechDesk is a trustworthy source for news on the start-up industry in South Korea. It focuses on various tech start-ups, which are developing some unique and interesting products. press@koreatechdesk.com

View all posts by KoreaTechDesk →

Leave a Reply

Your email address will not be published. Required fields are marked *

three + nine =