Refereum, a San Francisco-based decentralized marketing platform, is gearing up for the public sale of its token next month that could raise as much as $25 million. In an interview with Strategic Coin, Refereum co-founder Dylan Jones said majority of the proceeds will be used to further expand its platform as well as attract game product launchers and developers.
Refereum, a San Francisco-based crypto-currency firm that aims to drastically change the video game industry’s marketing and advertising practices, is gearing up for the public sale of its token next month that could raise as much as $25 million. In an interview with Strategic Coin, Refereum co-founder Dylan Jones said majority of the proceeds will be used to further expand its platform as well as attract game product launchers and developers.
Refereum’s platform aims to solve a contentious problem in the gaming community: developers pay artificially large sums to reach fans and gamers. Those so-called video game influencers on Twitch and YouTube have huge followings on the internet, but are not able to monetize that large audience base. Enter the Refereum token (RFR), which uses blockchain technology to bypass traditional advertising companies and transfer more than $100 billion in advertising revenue from corporations to individual game players and the industry’s influencers. Jones mentions how their token will facilitate an efficient economy between developers and gamers,
“Our tokens have utility in both advertising and rewards to gamers. We may be actually in the top one percent of utility tokens.”
“Utility tokens” give buyers access to products or services rather than a stake in the company. This essentially exempts the company from registering its coin offering with the U.S. Securities and Exchange Commission if they intend to sell their token in the United States. In July, the U.S. SEC said tokens should be subject to the same regulatory oversight as securities.
Refereum’s token sale will be launched in Delaware and Jones said his team has done everything to make the offering legally-compliant. The company has increased the RFR token supply from 50 million to 5 billion, with an initial price of $0.01 per token. According to its white paper, 50 percent of the tokens will be sold to the public, 25 percent will be used to further develop the company’s platform, and 10 percent will be utilized to provide incentives to game developers. Another 10 percent will be reserved for the founders, and the remaining 5 percent will be used to attract influencers.
“Our tokens are pre-mined. We’re working with AmbiSafe as a partner to make sure that it’s all legally-compliant and it has the best security that we can have.”
Ambisafe is a multi-sig wallet company. The tokens will be available right after the sale and can be used immediately on the Refereum platform, Jones said, but holders won’t be able to transfer them or trade them on exchanges.
New Beta Platform
Refereum has also launched a working beta platform a few weeks ago, Jones said, and about 20,000 people have signed up and “checked out what we’re making.” The new platform will also allow users to buy video games and people are actually using it right now.
“In the same way, that Amazon started by selling books, we’re starting by selling video games and we we will be expanding,” said Jones.
He noted that buying video games is an example of the blockchain’s real and actual utility. Refereum will create it own video games as well as work with developers.
“We would like our own storefront that’s a little bit more modern and much more geared toward streamers,” Jones mentioned.
The Solution to Current Market Inefficiencies
Jones believes the presence of intermediaries and middlemen have made the video game industry inefficient. Platforms like YouTube take a significant cut of each video’s advertising revenue. Developers also need to pay for ads on these platforms, with a significant cut going to the middleman. The end result is that developers are paying too much to reach their audience, gamers aren’t being rewarded for viewing or playing games, and influencers aren’t capturing the full potential of their audience.
“Refereum is a way to cut out the marketing middleman right now,” said Jones. “We have all these game developers and really any type of product that are out there right now, particulary in the video game scene, but they’re quite expensive.”
Refereum will essentially directly reward so-called influencers and gamers to promote and play video games. YouTube and Twitch sponsorships have become a crucial part of any meaningful video game marketing campaign due to their huge following. And one reason for this is that 90 percent of gamers turn to YouTube at least weekly for gaming advice, while about 64 percent download games after seeing them on YouTube.
Jones closed our discussion mentioning a the key participants partnered with Refereum, including: Twitch, one of the biggest influencer gaming platforms; Unity, the world’s most-used game engine; and Ambisafe, which has secured crypto-currency projects like Tether and Chronobank.
The company is also backed by a team with years of experience at top-tier game and technology companies such as Zynga and Google, with veteran analysts, developers, business development managers, and marketers leading the project.
Our research report covers a more in-depth break down of the RFR token’s future utility and viability within the gaming industry click here for access.
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By Research Team