Over the last decade, the sale of virtual goods has exploded alongside the exponential growth of social media and gaming. The result is a multi-billion-dollar marketplace for products that, technically speaking, aren’t real. The money, however, is very real, with recent estimates putting the annual revenue of virtual products at more than $15 billion. Virtual goods can be anything from digital stickers for use in messaging apps to outfits for your avatar to extra lives in a digital game.
This entirely new product category has come about as part of the move to a “freemium economy” where consumers expect to get the services they want – everything from news to a mobile game – for free. Companies still have to pay the bills though, and so they’ve gotten creative in terms of monetization. The traditional approach has relied on advertising, but for many digital companies, in-app purchases of virtual goods offer a new way to keep the lights on while actually enhancing the user experience.
For many people, what are known as massively multiplayer online games have become significant sources of income.Web sites have sprung up that allow players to use cryptocurrency to buy items — like weapons or real estate that they may want or need for the games.
Games like Second Life, World of Warcraft, Ultima Online and dozens of others offer the opportunity to interact with thousands of players worldwide in virtual environments that continue to exist whether or not any particular person is playing at the moment. It will come as no surprise that, as with most new trends, younger consumers are driving the growth of virtual goods sales. Additionally, the market is much more mature in other regions of the world than it is in North America at the moment, particularly in Asia. Entering the virtual goods marketplace provides a new avenue for brands to reach these two highly desirable demographics and can also present a relatively low-risk way to test out new markets.
And the fact that the products don’t actually exist is an advantage in and of itself. This merchandise isn’t restricted by the physical limitations of the real world. Gone are the time and financial constraints of product development and supply chain concerns. In many cases the platform or developer will do the work of creating the virtual good themselves, all the brand has to do is approve.That’s because, for these digital platforms, virtual goods have become an essential way to not only make money, but to introduce new content that maintains engagement among users.
The problem with creating a thriving, branded virtual goods marketplace is fragmentation. Today, digital platforms operate as closed-off ecosystems and brands are fragmented operating in silos with little accessibility. Additionally, when considering licensing agreements, each brand juggles considerably different brand objectives such as geographical location, demographics, licensing fees, marketing power, and attractiveness. BLMP (Blockchain Licensing Marketplace) is a B2B2C blockchain company processing B2B2C transactions and providing value through efficiency, traceability, and security. BLMP is pioneering licensed virtual goods and the mission of BLMP is to connect the intellectual property licensing industry with digital platforms. BLMP leverages crypto-token technology built on blockchain as a means to very easily produce and exchange liquid value in digital ecosystems.
BLMP is solving this complex business problem by creating a vast collaboration network of global brands and digital platforms to facilitate the licensing process. BLMP is uniquely positioned for growth because of relationships with established licensing companies such as Evolution and BDLabs with a combined total of over 1,000+ clients, partners, properties, and brands. The Epik token powers BLMPs B2B blockchain licensing platform and is used by consumers to acquire branded virtual goods.
Finally out of stealth, BLMP has been working hard pre-launch and within 3 months the over-achieving startup has created a fully functioning product, gained tons of traction (1,000+ brands, millions of monthly active users), and has a revenue model that works!
On top of that, this token sale features Collectible Token Rewards – something truly unique. Considering it have the main author of ERC-721on our team and we specialize in ERC-721 collectibles, we thought it would be cool to reward purchasers with collectibles that grant special abilities.
The EPIK token is the ultimate way for you to collect branded items in any digital platform such as video games, mobile games, virtual reality, augmented reality, social network gifts, and branded emojis.
Epik Items are special items that are unique in nature. Epik items are secured and stored on the blockchain. Collect different EPIK Items in various digital platforms and view them anytime & anywhere in the EPIK App.
The proprietary behind-the-scenes technology inside the EPIK App. The EPIK Wallet is used to purchase, exchange, and collect EPIK Items in your favorite games and social platforms.
For more information please visit links :
Website : https://www.epiktoken.io/
Facebook : https://facebook.com/EpikToken
Twitter : https://twitter.com/epiktoken
Medium : https://medium.com/@BLMPNetwork