What is DMarket (DMT)?
Future of DMT Cryptocurrency and know how to buy DMT

#1 – What is DMarket?

The virtual gaming industry is growing faster than ever with an estimated total of 2.3 billion gamers and a turnover of over $100 billion. However, a seamless, convenient trade of virtual items across games is still a far-fetched reality, hampering the industry’s capitalization potential. DMarket resolves this problem.

DMarket – The Basics

  1. DMarket is a blockchain-powered marketplace for the exchange of virtual items for digital games on any platform. It seeks to fulfil the technical limitations that the gaming industry currently suffers from.
  2. In its mission to create an in-game economy, DMarket enables gamers to buy and sell their gaming assets globally. It does so by converting the virtual items into real assets that are traded with the help of the DMarket cryptocurrency.
  3. On top of gamers, DMarket also strives to aid game developers and entrepreneurs by providing them with the right business opportunities.

DMarket Development

DMarket was founded by Vlad Panchenko, the company’s current CEO. He is the number one private merchant of digital games sold on platforms like eBay, G2A, etc. He teamed with Alexander Kokhanovskyy to create DMarket. Kokhanovskyy has a 17-year experience in the e-sports industry. The platform was launched in 2017.

 

#2 – What are the benefits of DMarket?

DMarket Technology

  1. DMarket works with the Exonum blockchain framework. The system utilizes several components that are integrated to the platform via the RestFull API.
  2. DMarket’s operational setup is comprised of two parts that work independently.
    1. - Decentralized blockchain database: It is an information storage system that record all the transactions made on the platform.
    2. - Smart Contracts: These contracts offer complete transparency and security of the transactions. They also manage the digital items and the cryptocurrencies involved, functioning as an independent intermediary.
  3. The platform also features an independent multimedia storage service. It is a high-speed storage facility that works by combining the blockchain and the trading platform. Its architecture has been built in a manner that there will be no effect on data continuity even in a situation of complete disconnection.
  4. The marketplace comprises several additional modules such as AI-based statistics management modules and Big Data analysis modules. These modules enable the project to monitor the data dynamics and create insights about the demand and transmission of virtual items.
  5. The API documentation and DLL-libraries enable the developers to manage in-game items and use popular gaming engines. It is planned to enable the integration of all in-game items to popular online stores.

Features

  1. High-Speed Response: DMarket’s blockchain offers a speed of up to 3,000 transactions processed per second. This facilitates a hassle-free user experience.
  2. Elasticity: Even if one-third of the nodes on the network are disabled or compromised, the blockchain can operate smoothly.
  3. Rust Language: DMarket’s blockchain is written in the Rust programming language that works without segmentation faults. This way, it guarantees thread safety and provides enhanced security for the platform.

Transactional Process

Once the user creates an account, the system will create a wallet for DMarket tokens. The system automatically synchronizes the user’s in-game items with their wallet on the blockchain network. This synchronization is implemented via the API provided to game developers.

Corporate Usage

PC and console games generate revenues. This revenue can be increased with the trade of in-game items that are rare as well as skins for these items. Mobile games can also profit from the trade of these skins that increase the items’ durability.

  1. Developers have the opportunity to increase their turnover through the purchase and sale of in-game items.
  2. DMarket also provides entrepreneurial opportunities to online stores.
  3. At the same time, designers of these in-game items can earn profits.

Value Proposition

DMarket proposes the following value for game developers and gamers:

  1. For developers: The platform offers an increase in audience reach and marketing intensification. There is a concurrent revenue increase as well. It also enables the developers to interact with the fanbase and allow them to create their own in-game items.
  2. For gamers: Gamers have facilities like in-game item trading and security accreditation for every trade. There are several opportunities to create, collect, and keep all the in-game items stored while switching from one game to another.

 

#3 – How to buy and store DMT?

DMarket’s cryptocurrency DMT is available for purchase on exchanges like Bittrex, CoinGecko, CoinCodex, IDEX and YoBit.

  1. CoinSwitch, as the largest cryptocurrency conversion platform, offers you the ability exchange your cryptos for DMT. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your DMarket cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

DMarket coins can be stored in any ETH wallet like MyEtherWallet since DMT is ERC20 compliant. DMarket’s own wallet is also a reliable means of storage. Other storage options include hardware wallets like Ledger Nano S and Trezor. Exodus and Jaxx are also the storage wallets for DMT.

 

#4 – What is the future of DMarket?

  1. DMarket has partnered with 10 companies, like Xsolla, Pantera Capital, 4A Games, that work in the development, production, and publishing of video games.
  2. The topmost priority of the team is DMarket monetization. The team is working on product monetization via transactional fee and the creation of a DMarket Coin economy.
  3. There is no specific roadmap for the future. But the company presents all product updates on its official blog. They have completed the development of the blockchain network in addition to completing the Ethereum smart contract functionality.
  4. The team is working on the platform’s security audit and API integration. The fourth quarter of 2018 is planned for a global market influencing drive.

Also Read: Complete Analysis of DMarket | Live DMarket (DMT) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.178762

0.179764

0.161958

0.163566

159,460

8,976,720

June 01, 2018

0.413462

0.413462

0.367466

0.374382

563,793

20,762,400

May 01, 2018

0.550743

0.562237

0.522300

0.557462

254,175

27,656,100

Apr 01, 2018

0.499241

0.660590

0.455211

0.503585

9,975,930

19,774,900

Mar 01, 2018

0.605279

0.724175

0.494737

0.661074

115,340

-

 

#5 – How is DMarket different from other cryptos?

DMarket faces competition from two major gaming marketplace projects, viz. Opskins and Steam. While all the three platforms serve the same audience, a few features distinguish DMarket from its competitors.

  1. DMarket is a decentralized marketplace. There is no central authority overlooking the transactions and all operations take place in complete transparency. It also augments the security services.
  2. In creating a marketplace for in-game trading, DMarket offers its users to trade any item from any game on any platform on any engine. The absence of any restrictions in its transactions makes it unique.
  3. DMarket is also providing the gamers with a unique opportunity to design their own in-game collectables and submit it to the publishers. It is an earning prospect for both the parties.

 

#6 – Should you invest in DMarket?

  1. DMarket is a platform for gamers, developers, and publishers alike. It caters to a booming industry and strives to increase the revenue generation. The presence of established competitors, however, make it difficult for DMarket to operate at its full market potential.
  2. The team has already collaborated with 10 companies in the gaming industry to put a strong foot forward. DMarket hit the $2 mark within 2 months of its launch. However, the crypto has shown steady fluctuations over time.
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