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The world we live in today and are used to is defined by the levels reached by digitization over the last two decades. With blockchain entering the fray, a new age is on the horizon. One project has decided to take up the initiative and position itself as a pioneer in blockchain-based app stores and social media networks.
Since the inception of the internet and computers becoming affordable for the average household, technology has transformed our world and the way we interact with it. Apps and social media are an integral part of our lives today and are becoming more impactful every year.
- There are currently 3.78 billion social media users worldwide. This means that more than half the population of the planet is on social media.
- There are 4.66 billion active internet users worldwide - 59.5 percent of the global population - of this total, 92.6 percent (4.32 billion) accessed the internet via mobile devices (Statista).
Mobile devices are indeed marking stunning growth in the last decade and are pushing all competition aside. The app market is estimated to surpass 1 trillion U.S. dollars in revenues via paid downloads and in-app advertising in the middle of this decade.
Yet, there are some considerable problems with how the current app stores operate. High commissions that go as high as 30% for both the Apple store and Google Play are among the biggest problems for developers. At the same time, social networks with their dubious advertising policies and practices present another major problem. For the most part, advertising is intransparent for advertisers and users. Luckily, blockchain is able to present us with a solution to both of these issues thanks to the immutability of its records and its ability to facilitate decentralized exchange of information.
Game Changer and their novel solution
Game Changer is a blockchain-based currency for cross-app purchases that can also be used for the creation and facilitation of NFTs (Non-fungible tokens) on a decentralized social network. The project combines a decentralized app store with a unified token that can be used for in-app purchases across every product submitted and approved in the ecosystem. The concept is especially important for mobile gaming, an industry that has one of the highest compound growth rates within the entertainment sector, surpassing yearly levels higher than 30%.
Currently, every separate mobile game has its own virtual currency. Users can deposit only certain packages that are not flexible and often leave the user with unused pieces of the exclusive currency, which is completely worthless outside the ecosystem of the particular game and is not refundable.
The GC token can be cashed back to fiat or crypto, used in another game or app within the ecosystem and even used to tokenize in-game items, which can then become a source of income for their owners. This allows app users to capitalize on their engagement with certain products - for example, a rare item in a certain game that the user is no longer interested in playing can be tokenized, listed on the app store marketplace and transferred to another user.
Game Changer is developing the first blockchain-based social network with an integrated token for influencers and advertisers. A decentralized social media network translates in a transparent and direct interaction between all stakeholder groups within it without the one-sided power of the party managing the network. A transparent and fair fee structure for advertisers as well as a feasible way for influencers to contact customers and get paid directly on the social network without using 3rd party services is how Game Changer envisions the future of social media.
Another hot trend that recently came to the attention of the cryptocurrency world is NFTs. Non-fungible tokens are used to tokenize any digital asset, thus assigning a monetary value to it and making it transferable from one entity to another. The problem with NFTs currently is the lack of an infrastructure allowing for their seamless transaction on one reliable marketplace.
Game Changer is bringing NFTs to their blockchain-based social media network. Through a decentralized marketplace, users will be able to create and transfer their own NFTs and use the GC token as the payment method.
The project is not in its infant stage - Game Changer has already developed the first apps that will be added to the ecosystem once it goes live and is already accepting 3rd party submissions by external developers. The rollout is planned for the end of this year.
The future of mobile and social media
Game Changer is a trendsetter. In a world where mobile apps and social media are becoming an integral part of our daily lives, Game Changer introduces the latest advancements of technology to solve some of their most pressing issues.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.