Flip is a decentralized ecosystem designed for gamers to meet their gaming needs. As per its whitepaper, the FLIP platform allows gamers to trade their digital goods in cash or use other in-game items on all gaming spaces, including VR/AR, console, PC, and mobile. The network uses trustless smart contracts on blockchain technology to offer secure and fast transactions. Gamers can also securely store or own their digital goods on the blockchain. Besides this, Flip allows developers to independently create tools and benefit from the usage of such tools.
Currently, there are over 2.2 billion gamers worldwide, and they spend more than three billion hours collectively playing video games every week. However, digital goods earned by these gamers are locked within the games and have no value. Hence, Gameflip created this platform to resolve these issues by unlocking its ability to trade in-game items and compensate game developers and publishers with commissions on every transaction. Gameflip is a venture-backed technology organization that operates as a robust digital good marketplace worldwide. Under its unique network growth model, the platform seeks to reward game publishers with FLP tokens along with tangible economic benefits. The asset aims to offer software development kits (SDKs) and plug-ins to game publishers. Also, the team can identify the transfer of digital goods from any gamer's blockchain wallet. The network uses the FLP token as their payment method on all the applications.
FLP token is based on the ERC-20 network and uses the Ethereum blockchain technology. The platform has selected Ethereum blockchain due to its flexibility and widespread adoption. The proceeds from FLP token sales seek to be used in product development (40 percent), partnerships (15 percent), administrative and general (15 percent), and partnerships (15 percent).
