With 2% of its users in MENA, Kinguin is looking to expand further in the region
Kinguin, a reputed marketplace for downloadable PC video games, with over 100 million USD annual turnover, is revolutionizing the gaming industry by adopting blockchain technology to offer a completely new decentralized game trading platform supported by its own cryptocurrency, the Krowns.
Envisioning the future and the paramount benefits of decentralization triggered Kinguin’s move to the Blockchain.
Kim Rom, Chief Gaming Officer, Kinguin mentioned “We are introducing new products (Smart Publishing) and value-added revenue streams (player-focused Micro-Services) to the gaming community, and these innovations are only feasible because they will operate on a trusted and secure system.”
Besides a significant customer base of 7 million, Kinguin is focused on value creation for gamers, which has not been tackled yet by other market players. The strength of Kinguin’s community is an essential asset and as Rom explains “In my experience, it’s 100% the gaming community that decides what’s successful or not in this space. “
Unique feature of ICO
Kinguin values an ICO beyond its ability to raise funds, as it fosters a unique platform for information sharing with the global community that can directly get immersed in Kinguin’s world and take a firsthand look into their vision.
They are also opening up new business opportunities and partnerships that are exclusive to the ICO process. Kim Romexplains “The most important benefit so far, has been the people we have met and relationships we are building. We have dramatically increased our network, with new partners who actively support us in this endeavor.”
It is interesting to note that Kinguin’s ICO is unique as they seek to raise 50MM USD through a series of private and public rounds over the next 2 years. They chose to receive payments over a structured period of time, while they move from one milestone to the next, increasing their transparency and credibility.
As Rom explains “Each round will be tied to new product launches to give potential backers the chance to be a part of the development, testing and verification process, and track progress. We believe this method will be most effective, to incrementally distribute funds back where they will be best utilized as the project develops.”
MENA region expansion
Even though 2% of Kinguin’s total users come from the MENA region, they perceive it as a great area of growth and are working on gaining more market presence in the region.
The launch of the Krown utility token will aid in the generation of more awareness and interest in the community. As Rom mentions “If you have ever been to a gaming or esports event in the region, you know that players are insanely passionate about gaming and their local communities — so we are excited we can bring something of value to this part of the world, and help create even better gaming experiences all around.”
Ensuring transparency and credibility
To ensure long-term protective measures for both the project and participants, Kinguin has chosen Estonia for their ICO, whereby they are working on obtaining their money license there. This will enable seamless integration of Krowns into the marketplace and products, propelling them to be one of the most accessible utility tokens in the world.
Kinguin’s approval process will entail adhering to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.
In addition to that, Kinguin’s roadmap, will be regularly updated in their official whitepaper and website, which reflects their core value of being transparent, and holds them accountable to the community they highly value.
As explained by Rom, Kinguin’s first priority when it comes to milestones will be “to demonstrate the utility of Krowns, specifically, native integration into our marketplace. The immediate goal is to convert as many of our 15,000 daily transactions as possible, into Krowns.”