Review of July
Status of the Blockchain Industry
Hey everyone, it’s Rosa again!
As you probably noticed, the whole cryptocurrency industry‘s market value is decreasing steadily. Time to time, it gets a pump but generally, it loses it's value and possibly it’s active trader base.
It’s not the end of the world though. We think that it stabilizes itself in general trading market and building its roots. The negative effect of these changes mostly would affect ICOs and their investors.
It’s Effect on GameX
GameX started its journey in January 2018 without having an ICO funding (except a few supporters). We didn’t rely on external financial support even though it was a mistake but we could manage to work on our platform.
There are thousands of coins/tokens on the market, some are major with millions of dollars support and some are minor like GameX. This degradation on the general market value and daily volume would affect big-players since they have much higher operating and staff costs. Minor coins, on the other hand, may keep their coins intact but since they are small and probably won’t profit much, they may lose their interest and leave the market.
GameX, thanks to its users, is able to sustain itself financially due to the advertisement and GX Marketplace income. We don’t profit much and when we make some profit, we are mostly using that to make a buy-back on Waves-DEX so that our users may convert their GX to some cash.
We aim to be the survivors of this industry and making our plans carefully so that we can be in this game for a long time. Our goal is to steadily improve our platform while keeping it intact. We are not going anywhere…
We have released the GX Marketplace lite-beta version. It has 12 popular Steam games at the moment which you can purchase via using more than 25 cryptocurrencies. Your GX tokens can be used the decrease the prices of these games dramatically. Some may even reach a 50% — 75% price cut.
Also, GX unit price is flat at $0.015 on GX Marketplace. It’ll be always more valuable on GX Marketplace than the average market price on the exchanges. We’ll update it regularly.
If you plan to buy some Steam games and want to use cryptocurrencies for that, you can use GX Marketplace. It doesn’t take any extra fee or VAT tax, so Europeans may benefit from it more than other regions.
Bounty Hunting Rule Changes
Recently we have changed the reward amounts and min. requirements to be a bounty hunter on Bitcointalk forums.
From now on, only Full Members and above may participate in the program. To see the whole entry, please check here: https://bitcointalk.org/index.php?topic=2808298.msg43420028#msg43420028
Upcoming Changes and Additions
We are constantly under brute-force attacks but we are managing it without affecting your daily actions on the website.
The main problem though is fake accounts. We have some measures to detect these but it’s not enough and not that strict. We are working on a new update which we will be more strict than before. When we finalized it, we’ll share the rules with you so that your accounts won’t be blocked unnecessarily.
Dashboard Changes and News Section
We have removed some statistics from the dashboard a while ago, you may have noticed that. It helped to improve the loading speed of this page but we may still improve a thing or two there.
Our main news channel is on a pop-up as you know and we think that it’s not that UX friendly and effective. We’ll add a new area to the main Dashboard and gonna remove old news pop-up.
GX Raffle Store Updates
GX Raffle Store, while a great thing to win Steam games, it’s also become a trouble on our side. Almost 50% of the winners didn’t claim their keys from us. There are a few possible scenarios for that; They don’t see our pop-up message, they left GameX so they didn’t know that they were winners, they didn’t want to share their personal information and decide to not to claim their keys or they were bots and randomly bought tickets and become a winner by luck.
We have a dozen games that waiting to be added to the raffle store. We need to finish the rewarding period of these games we already have so that we can get new, better-quality games for our community. So please, if you are a winner, please take your darn key ^^
Also, we’ll keep active raffle number low so that you can work on a specific game without distributing your tokens to others.
Ticket prices will be reduced to 10 GX from 25 GX to increase the participant numbers.
GX Marketplace Updates
We’ll add new games to the marketplace and improve the look of the main page with some nice carousels and slides.
After we get the games on the list to an acceptable number, we’ll continue to work on adding other features to the marketplace like peer-to-peer trading.
GX Faucet — New Mode
We’ll add a new “Nightmare Mode” to the GX Faucet. It’ll redirect you to link shortener service and will have some pop-unders. Basically, it will act like other popular faucets you see around.
But don’t worry, this mode will be optional. Of course, Nightmare Mode users will have extra GX on their claims :)
I won’t repeat the things I wrote in our old articles. We are still waiting for the news of 2 other exchanges.
We have a plan to ask for the community’s support to be listed on one of the major exchanges. We will present what we have in mind to you guys soon.
GX Rank Updates
Since the change of the loyalty rewarding system back in April 2018, GX Rank is ineffective and purely cosmetic on our website.
We are working on a new membership feature that will let you earn more GX than other lower ranks. Each rank will boost your GX accumulation rates. We’ll share the news with you when it gets matured.
That’s all for today, have a nice weekend!
Rosa, Account and Project Manager of GameX (GX)