Gaming has become, with time, a great industry for investment and entertainment. It created a lot of influential people, made a lot of careers, and even made it into real sports. The industry is classified under E-sports. This has helped gamers receive scholarships and regular income, sponsorships and more. Gaming also has a large fun base on almost all of the social media networks. YouTube and Twitch are Gamers’ favorite social networks as they help gamers monetize their activities.
What is refereum?
Refereum was the first referral marketplace for games, and a place for gamers, developers and influencers, that cuts out the middle man and make them earn a bit more while making marketing campaigns for investors cheaper and more effective. This token will be given as a reward to gamers for their engagement in the community and for purchases. The platform grew exponentially in the last few months, netting over 150,000 users over the course of 2 months or so.
Problem that gamers have
Referral marketing is the most effective conversion tool to acquire new customers, but people who try to abuse the system have blocked the ability of referral marketing to scale to right proportions. Nothing shows these facts better than gaming itself. The video games industry is currently worth $109B and growing at 6% annually.
With the number of gamer rising exponentially in the last 10 years, it’s not surprising that gaming has taken over every other form of entertainment as the most popular thing to do on any of the devices. Being as big as it is, it creates a lot of opportunities for influencers, gamers and gamer communities.
But YouTube and Twitch as main platforms for gamers are not as nurturing and good revenue wise to the gamers and influencers, even though the audience of top 10 influencers has outmatched the last Super bowl audience by double. As mentioned before, gaming has become an e-sport which fills out arenas, makes players and teams millions of dollars in revenue. The competitive scene includes players, coaches, gaming houses and all the things professional athletes in other sports also receive.
How is RFR helping the game industry?
Refereum has cut out the middle man by using smart contracts between marketers, developers and gamers. This creates a decentralized and an improved way of dealing with the industry’s intricacies.
RFR Token usage
RFR token can be used on the Refereum platform to:
- People can buy games through the platform, and view the receipt on blockchain.
- Game developers can pay RFR tokens so they can sponsor the game or promote the game even more on Refereum.
- People can sell their digital goods through the Refereum crypto platform.
Refereum started an ICO on 12th of February 2018, selling $32,252,000 worth of RFR tokens, with each of them being worth $0.01, reaching a hard cap of 40,000 ETH. The ICO accepted ETH and BTC deposits, and required KYC (know your customer policy). With the “roadmap” complete, which is like the Holy Grail for all the investors, people hurled to invest into Refereum platform. After a month, the project ICO ended, exactly on the 12th of March 2018.
RFR is an ERC 20 compatible token, which means that it is supported by any ERC 20 wallet, like Myetherwallet, MetaMask, Mist, Parity to name a few.
Out of the total 5,000,000,000 tokens, only 40% were available for sale. The rest were distributed equally to the team and platform reserves (20%) and then 10% for growth incentives).
RFR on the market
With the market being indecisive, Bitcoin going up and down, dragging other cryptocurrencies (altcoins) up and down or making them tank in price, the market is not so great In the eyes of investors. Refereum had an unfortunate timing of market appearance, and has not yet returned the invested funds dollar (79% of the investment), ETH wise (0.91%) or Bitcoin (0.69%).
It currently follows the flow of the total market cap with a nice volume of above $1,000,000, and being ranked around the 200th place. The token is listed on a few exchanges, them being OKEx, IDEX, Gate.io, DDEX, and Cobinhood.
How to buy RFR token
People can buy RFR token by:
- Making a ERC20 compatible wallet
- Making an account with any of the exchanges that support Refereum token
- Sending the desired amount of ETH, BTC or USDT to the exchange account
- Trading ETH, BTC or USDT on the exchange for the RFR tokens
- Sending the RFR tokens to the ERC20 compatible wallet.
RFR token has first movers’ advantage as being the first in the industry to develop an on chain blockchain decentralized solution for cutting out the middle man in the gaming/influencer industry. This can be a big hit with the industry, but so far the big networks such as YouTube and twitch hold the ropes. It is only a matter of time until either the big networks will accept the change and move on or Refereum will replace them as the prime platform in the industry.
From an investment standpoint, this coin has good fundamentals, but the token economics are horrible, with only 40% of the tokens being in circulation. There might be good explanations, but there cannot be enough justification for such a low number.
Ultimately, the satisfaction of the influencers/gamers/developers and the global market sentiment will show whether Refereum will succeed or not.
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