How One Startup Is Leveraging the Power of the Blockchain to Disrupt the $90+ Billion-Dollar Gaming Industry 12 1917

The nested potential of blockchain far exceeds what we see in today’s volatile cryptocurrencies.

If implemented effectively, this disruptive piece of technology represents a far greater opportunity to fundamentally change the way society organizes and secures its information.

At a high level, we can leverage the decentralized nature of blockchain in a variety of spaces to supplant the need for costly middlemen, eradicate fraudulent players, and instantly verify transactions – all of which are core benefits, inherent to blockchain, that can make industries radically more efficient. It is this exciting, not-so-distant future that is fueling entrepreneurs and investors from around the world to invest their time and funding in tackling real business problems with the power of the blockchain.

Gameflip, a vibrant digital goods marketplace with millions of users, recently announced their upcoming offering of FLIP, a crypto-token for peer-to-peer buying and selling of digital goods for games on all platforms. They are an example of an experienced team developing an innovative solution at the upslope of a hot market.

Perhaps most importantly, their solution is accelerating an inevitable shift in the marketplace that enhances the experience for all involved parties.

The digital goods opportunity is truly massive, and growing every year. Believe it or not, online gamers purchase nearly USD $100 billion in digital goods annually. The model works as follows: users play, invest, and compete in games to earn rare, digital collectibles, like weaponry and custom skins. While these items become illiquid (and practically valueless) once the game goes out of style or the user becomes disinterested, the digital marketplace has been booming as most casual and hardcore gamers obsess over earning collectible items.

Gamers spend immense amounts of time and money, building up their characters and harvesting special player upgrades…but if you cannot transfer the value of the assets after your hard work, then what is the true long term value?

The problem, however, is that the “gamer-earned goods” market is insanely underdeveloped, as there is no unified home for secure transactions of digital goods.

This is what initially inspired the launch of FLIP, as the Gameflip team had seen countless instances of passionate, dedicated gamers falling under the trap of losing their digital “investments.”

Other companies have identified and tried to work on this problem before. The popular Steam Community Marketplace attempted to address this problem by enabling the trading of digital goods on their platform. This, however, fell short – gamers want the ability to “cash out,” and not just earn market credits. So they turned to their only other option, which was random, unsecured forums such as Reddit, many of which were rampant with scammers and fraudsters.

The solution to this entire trust management problem is exactly what Gameflip is doing: using blockchains to create a secured, transparent mechanism for exchanging digital goods.

Already, Gameflip has a 2 million member-strong global digital goods marketplace for gamers. Of which, they have over 500,000 active monthly users who conduct millions of transactions each and every month.

FLIP, their tokenized product, leverages the Ethereum blockchain and ERC-20 Token interface to provide a decentralized ecosystem for transaction digital goods through smart contracts. Effectively, the contract will automatically confirm ownership of the digital goods, enabling gamers to transact safely without risk. More than that, for perhaps the first time ever, gamers can truly own their digital goods with real value. Meaning they finally have access to liquidity when and wherever they want it, as they can sell and trade digital items for cash without the threat of fraud.

The FLIP team, having been former publishers themselves, also plans to incentivize game publishers to adopt this new model by issuing FLIP network growth tokens, with a built-in commission for each transaction made through their games. Publishers are crucial to the network effect and, ultimately, will be the gatekeepers towards universal adoption.

While their strategy for growth is ambitious, the Gameflip executive team brings with them more than a century of combined business experience, including decades in the gaming industry. They have successfully built, managed and architected, global, free-to-play gaming businesses like Aeria Games, meaning they understand the mechanics of the industry from the ground floor.

They are also backed by world-class investors, like Lightbank, and already have strong interest and active discussions from a handful of top global publishers. It will be exciting to see FLIP, among others, develop as implementations of crypto gain mass appeal. They will have their FLIP ICO main sale on Dec. 4 (as their pre-sale ended at 112% of our goal with over 3k ETH raised).

As momentum around blockchain technology continues to develop, we will begin to see more and more of the potential get exposed. This is truly just the start, as more entrepreneurs see innovative applications just waiting to be built. The question in all of us, as consumers and professionals, is which implementations will most affect us? Which are most likely to disrupt the world?

This article was originally published in The Huffington Post on November 16, 2017.

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Starting her career on Wall Street at just 19 years old, Danielle went on to be one of the youngest equity traders in the industry. After a successful career in Financial Planning, she went on to found her media company What Vibes Your Tribe, which connects the worlds of digital marketing and public relations. Her experience in brand strategy along with successfully developing the thought leadership of C -level executives has played an integral part in her client's achieving prestigious awards such as Inc 500, Forbes Next Billion Dollar Startup, Entrepreneur 360 among other top level recognition.

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How a Thief Stole More Than $1M in NFTs on Instagram Comments Off on How a Thief Stole More Than $1M in NFTs on Instagram 405

A common use case for the blockchain is reducing fraud. Shouldn’t that mean it’s impervious to hackers? Not necessarily. Here’s how a hacker was able to amass more than $1 million in stolen Bored Ape Yacht Club NFTs.

For any of us that have received a nefarious link in our emails or on social media that encourages us to input private information, we’re already familiar with the logistics of phishing. A hacker sends us a link, usually under the guise of a brand or person we recognize, and asks for personal details like usernames, passwords, or bank details that aid them in assuming our identity or assets. 

It’s precisely what happened in the case of the Bored Ape Yacht Club hack which was announced on Twitter Monday morning. 

A hacker was able to take charge of the official Bored Ape Yacht Club Instagram profile, and sent a communication to followers claiming to be offering an “airdrop,” which is a term used to describe a free token giveaway. (Note: it’s not clear at this time how the hacker was able to login to the official Instagram, in the first place.)

Users were asked to link their wallet to benefit from the airdrop, which made their mobile wallet susceptible to the hacker and resulted in the transfer of multiple NFTs, presumably including four Bored Apes and a number of other NFTs minted by the Bored Apes creators, Yuga Labs.

The hack illuminates a glaring problem in the NFT market. Namely, MetaMask, the popular wallet application, only supports NFT display on mobile which is less user-friendly than the platform’s browser extension leading to mistaken transaction approvals.

What’s the solution for NFT holders? “MetaMask with Ledger,” according to Adryenn Ashley. “NFT holders need a wallet that gives them the ease of MetaMask with the security of hardware.”

The hack is a reminder that even though the blockchain has the potential to overcome fraud, users still need to be mindful of third party applications that manage their data. 

Serial Entrepreneur Lisa Carmen Wang Launches the Bad Bitch Empire Comments Off on Serial Entrepreneur Lisa Carmen Wang Launches the Bad Bitch Empire 565

While cryptocurrency has a notorious reputation for investment volatility, its adoption has marked one of the most significant shifts in wealth of our generation.  Last year, CBS reported that as many as 100,000 people may have amassed millions in bitcoin with many profiting from early adoption of the high profile cryptocurrency. When you zoom into where the wealth is distributed, though, the data is alarming. 

Recently, Entrepreneur published a list of The 50 Richest People in Crypto. On the list are individuals that made fortunes as shrewd investors and early technology adopters, but there’s one person that stands out. From this list of men from various parts of the world, Blythe Masters is the only woman listed reflecting a broader problem: women are consistently underrepresented in new technology sectors and the blockchain is no exception.

A survey by Pew Research found that more than 40% of men have invested or traded cryptocurrency, compared with only 19% of women. Moreover, half of women in STEM occupations have experienced workplace discrimination, further marginalizing the group from participation in emerging technologies. Fortunately, there are women actively changing the status quo.

As the founder of SheWorx, which was acquired by Republic in 2019, Lisa Carmen Wang made a career amassing resources for female founders and working to change the number of women represented in tech leadership. Now, she’s set her sights on leveling the playing field for women through financial literacy. 

“It wasn’t until I began investing myself that I really began to understand how to grow wealth,” says Wang. “Financial and investment literacy is essential to giving women a seat at the table, particularly when a sector is emerging and rapidly growing. Crypto is having one of those moments, and women need to capitalize on the opportunity in order to create systemic and meaningful change.”

Wang’s Bad Bitch Empire will be a community with a suite of educational and investment products beginning with a podcast about women breaking barriers and building wealth in Web3. According to the website, the “Bad Bitch Empire is the private crypto investment club for ambitious women who want to make our money work for us.”

High profile members include Lindsey Berg, Shannon Snow, Elizabeth Tan, Chi Achebe, Yael Streit, Katia Zaitsev, and Shaun Sager, to name a few. 

The BAD BITCH EMPIRE was unveiled at this year’s  Bitcoin 2022, the largest conference focused on Bitcoin alongside the podcast’s inaugural episodes. For more information or to request to join visit www.thebadbitchempire.com.

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