The gaming industry is booming and is one of the largest-growing industries in recent years. With over 2.2 billion people playing games around the world, developers and industry experts are searching for new ways to market games to an even wider audience.
The rampant growth in online streaming, particularly popular on mediums such as YouTube and Twitch, has only increased the interest in gaming as a whole. Individual streamers are being singled out by companies as marketing ‘influencers’, and as their popularity and skills grow, so does the legitimacy of their profession. The connection between private gaming and the public arena has been developed through the expansion of professional gaming, such as ESports, creating even more opportunities for game makers and players to come together.
Where Does Refereum Fit Into This?
Founded in late 2017, Dylan Jones noticed a space in the market for a better way to utilize referral marketing for game creators, influencers, and players. Knowing that gamers place a high value on honest referrals, Jones wanted to create a method for those referrals to take place with the added incentive of rewards. Individual gamers are more likely to purchase games when they are referred by a trusted source, and are also more likely to be continued customers for particular game developers.
Created as the first referral marketplace for games, Refereum benefits not only influencers and gamers, but also game developers.
By creating a rewards system using RFR tokens, which can be purchased and earned, game developers are able to avoid the huge upfront fees they would normally pay for marketing. Investing in RFR tokens, developers can use these to reward influencers for streaming or making referrals to their games, as well as to active gamers when they pass certain levels or simply play through the tutorial. Rather than sinking money into an expensive and somewhat unpredictable ad campaign, developers can actively target their intended customer base and effectively improve their marketing.
Should game developers reach out to influential streamers with RFR token rewards, they in turn can share those rewards with their fan-base. Not only that, but influencers have the opportunity to purchase their own tokens; this means that streamers of particular niche games or with a smaller following can still reward and incentivize their viewers.
Gamers in general are able to participate too, by playing and downloading games, sharing links with friends, and engaging with companies and influencers. What better way to reward a dedicated gaming community than by allowing them to reap the benefits of the marketplace economy?
How Do the RFR Tokens Work?
In the past, offering financial rewards and incentives to influencers and gamers was hindered by a myriad of complex legislation and geographical barriers. RFR tokens are a decentralized currency, meaning that there is no third-party control over the currency. Banks do not hold it in their vaults and no external agencies regulate or back it. This creates transparency for those who are using it and provides a reliable, secure, and auditable way for everyone who is involved to come together and be rewarded for their efforts and referrals.
What about the Refereum ICO?
ICO stands for Initial Coin Offering – this is a way for developers and companies to raise capital for their ventures, by selling a portion of the underlying cryptocurrency to early backers. In Refereum’s case, the initial number of tokens stands at 5,000,000,000, which are available to purchase as of February 8th 2018.
In a similar vein to crowdfunding, the company relies on the interest of game companies and individuals to invest in their new project. Through publication of a whitepaper, customers for the ICO are able to weigh the risks of investing in the company, and buy tokens with the idea that they will increase in value as the company becomes more successful.
By offering up an ICO, Refereum is able to let interested parties in at the ground floor. Through the purchase of ICO tokens, the company gains exposure and builds funds for future development. Developers are able to give their games exposure through being hosted on the Refereum site, ready for purchase. Influencers can widen their niches and gain cash rewards for referral purchases. Individual, at-home gamers can earn money by interacting with games by watching streams, purchasing games, and playing them.
Will It Be Successful?
As with any ICO or cryptocurrency venture, there is a certain amount of risk involved. There have been cases of fraud with these types of offering, which have led to companies and individuals losing considerable amounts of money. It is up to the investor to determine if the purchase is worth the investment.
That being said, Refereum has, in beta, already had significant success. Over 150,000 streamers have been using the system since it launched in late 2017 and have left feedback on the success of their referral system when using the company.
Being the first company to utilize this referral system specifically for gaming, Refereum has also enjoyed backing and support from Twitch, an online streaming service with a focus on games, and Unity, the most-used game development platform in the world. Both of these services are incredibly popular with game makers and players alike, and receiving support from them only boosts Refereum’s status and gives purchasers a greater sense of security for their investment.
The staff at Refereum are confident that, with continued work and promotion, their platform will become the go-to gaming referral system. Considering that they are the first gaming company to utilize cryptocurrency as a means of marketing and incentive, it is likely that they will enjoy success before branching out into neighboring, influential industries, such as entertainment, fitness, or beauty.