Yumerium: the ICO that will pay you to play computer games
Yumerium has a radical idea: it wants you to get paid to play computer games.
The company’s CEO Jikhan Jung recently described the platform as a place where, “players can earn tokens by playing, reviewing and sharing, and use it for playing games online and offline.”
It is all part of a highly ambitious plan to become the “next Steam” and “define next-gen social gaming platform for gamers and game developers on a global scale.”
Key to the model is rewarding the people in the gaming ecosystem who create the value: the developers, and the gamers.
Centralized Platforms not in gamers’ interests
Traditionally computer games made you pay upfront before allowing you access. This is the “pay-to-play” model. Then, around 10 years ago, “free-to-play” games appeared, where gamers could start the game without paying anything, but would often have to pay within the game to advance or access certain features.
Under the existing models gamers do not so much own the game as “have a license to play the game on a platform.” Gamers cannot safely resell digital items bought or earned within the game space. Although third party marketplaces for such items do exist, sellers there run the risk of fraud.
Smaller developers also suffer. Network effects have led to a few very large companies who have an enormous influence in the gaming industry. Centralized platforms are ruthlessly controlled by these big companies, who curate which games are to be made available, and impose their payment system onto the game developers.
Hoping to solve these problems, Yumerium is developing the next stage in the evolution of the industry: “earn-to-play”. Gamers will be incentivized to play by receiving YUM tokens which can be spent either within the platform or converted into fiat.
The YUM token will be used throughout the ecosystem, to build, market, distribute and enjoy the games.
Games will offer opportunities to mine or earn YUM, which can then be used to buy new games, or game items, from anyone who accepts the Yumerium token. Gamers will be also able to earn Yumerium by reviewing and sharing games, thus compensating them for valuable activities which currently go unrewarded.
For developers the Yumerium platform will offer considerably more freedom. Due to the nature of smart contracts, developers will, for the first time, be able to track the resale of their games, and even receive a sales percentage in the second-hand market. The specific percentage, along with much else, will be selected by the developer.
Yumerium’s ideas offer a revolution not just in video games but throughout the creative industries, who will be carefully watching the progress of the platform. The private pre-sale sold out with substantial investments from VR and gaming companies HTC and DeNA. The ICO is currently in the first public pre-sale, with the main sale scheduled to start on July 11th.
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