TALLINN, Estonia, March 29, 2018 (GLOBE NEWSWIRE) — Kinguin, one of the world’s largest online retailers in the video and PC game industry, announces the launch of its next generation online marketplace – poised to transform this industry. Kinguin has created a truly decentralized e-commerce environment with the launch of “Krown Tokens” – the first-ever digital utility token designed specifically for the online gaming community. “Krowns” will be exclusively traded on the Ethereum blockchain network. Of particular note, Kinguin was also awarded “Best ICO Project, 2018” at the Cryptocurrency World Expo in Berlin, Germany recently.
By tokenizing their marketplace, a new generation of online players around the world can now monetize their game experience, enabling an entire global gaming community to profit from the structure and adoption of this decentralized economy. This is a trusted peer-to-peer network to buy, sell, and trade digital games, in-game items, and other game-related services. Gamers can monetize such services as coaching, in-game training and other freelance services to fellow players – all with increased transparency and security.
“When we started Kinguin, we wanted to support and empower a rapidly growing community, that we believed was underserved,” notes Viktor Wanli, CEO and founder of Kinguin. “We are gamers ourselves and wanted our community to be able to freely trade their digital property, and now we are evolving our platform to the next generation with blockchain and smart contracts. Our users will continue to enjoy buying, selling, trading digital games, items, and now services, but with even more confidence that they’re operating on a trusted and secure network.”
In 2013, Kinguin, pioneered the first online marketplace to sell secondary cd-keys, digital games and goods. It has since saved its community of 7 million gamers more than 175 MM USD globally. The company realized early on that the video game industry had transitioned into a community experience, and to better meet the needs of this community, has taken its marketplace to the next level.
Kinguin believes in fundamental player rights of the gamer community, and the concept of decentralization provides a platform where free trade of digital products will ensure players aren’t subject to unfair exploitation.
“Today’s free-to-play game market is experiencing record-shattering growth, primarily by relying on players to invest a significant amount of time and money,” says Kim Rom, Chief Gaming Officer for Kinguin, and a 20-year veteran of gaming and esports. “However, there hasn’t been much focus on value creation for the player, and there’s a new generation of gamers and creators failing to monetize their biggest passion – until now. We can give control and earning power back to our community, by opening up revenue streams with our decentralized marketplace.”
With this launch, Kinguin has created an entirely new category – a “micro-services industry” for the global gaming community. It also plans to rollout a series of new features and developments within the next 6 months.
Kinguin seeks to raise 50MM USD through a series of private and public rounds over the next 2 years. Each round will be tied to new product launches, so potential backers can be a part of the development, testing and verification process, and track progress. The reason for this approach is that unlike other ICO offerings Kinguin elects to receive payments over a structured period of time, as it moves forward from one milestone to the next. This method is most effective, to incrementally distribute funds back where they will be best utilized as the project develops.
The Krown pre-sale began March 15, 2018 at 3:03 PM CET, and the main sale will begin April 12, 2018 at 24:00 CET. Krowns will not be available for purchase from residents in, or citizens of the USA, and China.
Krowns do not represent company shares or give rights to revenue sharing. The Krown is exclusively a utility token for accessing digital gaming experiences and items on the Kinguin platform, and from participating partner sites.
Kinguin will enforce stricter-than-market-standard criteria in the approval process, and all rounds will adhere to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. The company has also engaged MC2 Solutions to develop its smart contracts, all of which will undergo independent third-party security and code audits, to ensure security and integrity. They will also be available on GitHub for review by the community and all interested parties.
Kinguin.io is a legally registered entity in Estonia and compliant with European laws and regulations. Interested participants can transfer most crypto or fiat currencies and will receive digital ERC23 compliant Krown Tokens in return.
Kinguin is happy to work with its users to educate them about the Krown, but is not a financial advisor. The company strongly recommends that participants consult with their own advisors.
Since 2013, Kinguin has become the largest alternative marketplace to Steam, Origin, and Battle.net with more than 7 million loyal customers, globally. Its mission is to provide users the opportunity to buy, sell and trade video games at a fair price with an innovative hassle-free, trusted and secure platform.
Cameron Carson, Kinguin