Game Machine (GMIT)
Game Machine (GMIT) is a blockchain based ecosystem for the gaming industry. The ecosystem connects the cryptocurrency industry and the game industries. It is built for developers and beginners that it revolves around the use a GMIT cryptocurrency. The ecosystem launched its pre-sale on November 21st, 2017 and is planning to start the general crowd sale on December 14th after the pre-sales is over. The ecosystem is developed by an Estonian base team of developers and includes an open beta for the Game machine. The beta supports multiple games and it was launched on November 1st.
How does it work?
The project works by generating the GMIT digital currency through an LPoW algorithm. The official website explains, “Use of such an approach allows to limit access to infrastructure to nonparticipants of the market”. To achieve the best, Game Machine ecosystem has three core parts. The blockchain, gateway, and clients.
The blockchain: the game machine uses the LPoW and POA based mining system. This allows the blockchain they are using to support smart contracts as well as a gaming DAO. The blockchain is also built to allow for low transaction fees, maximum decentralized principles and an honest mining rewards algorithm.
Gateway: the Game Machine gateway, on the other hand, is the company’s first ever product. It’s a payment gateway for in-game items. The Game Machine ecosystem currently supports over 75 games which means you can get connected to real games using the gateway on the platform as long as you have active cryptocurrencies.
Client: the Game machine clients comes in form of a mobile app and a desktop software. The desktop client supports that game Machine blockchain and works as a miner. The mobile app, on the other hand, includes an integrated advertising network and a wallet.
Game Machine ecosystem also has three levels that include the Exchange Machine, Ads machine, and The Rise Machine. The Rise Machine includes a library of PC, Ads Machine as well as a mobile app. The Ads Machine is a third party Ads platform. Exchanges machine is for providing single exchange services for cryptocurrencies including in-game digital currencies. Developers can release their cryptocurrencies for their games if they want to. All layers in the ecosystem can be accessed through the games machine open API.
Game Machine uses the GMIT as its utility token. The token is priced at 0.00032 ETH during the pre-sales. The team behind the ecosystem is led by the CEO Taras Dovgas among other team members.