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GameCredits develops in-game payment API for cryptocurrency

Virtual currencies come in many shapes and sizes, from Bitcoin to Amazon Coin. The gaming industry has a whole subset all of their own. Within World of Warcraft there are multiple virtual items available for sale. In order to purchase these items, players are required to use the in-game currency Gold, which can be earned, purchased, or received as payment for items sold at the Auction House. As of November 2015, the online game had over 5.5 million subscribers.

Virtual currencies come in many shapes and sizes, from Bitcoin to Amazon Coin. The gaming industry has a whole subset all of their own.

Within World of Warcraft there are multiple virtual items available for sale. In order to purchase these items, players are required to use the in-game currency Gold, which can be earned, purchased, or received as payment for items sold at the Auction House. As of November 2015, the online game had over 5.5 million subscribers.

Second Life uses Linden dollars for in game purchases. Ebbe Altberg, Second Life CEO, claimed the virtual world had a GDP of around US$500 million last year. Users cashed in approximately $60 million, with one selling 300,000 virtual dresses at roughly $4 each.

Although each individual economy is thriving, these virtual currencies come with restraints. Linden dollars and World of Warcraft gold are restricted to their own distinct digital realms, which they were created for. The team at GameCredits have been working towards a solution, introducing a universal cryptocurrency that can be used across a variety of different games and platforms.

GameCredits“GameCredits is the first free open source gaming currency made by gamers for gamers and game developers.”
— – GameCredits

GameCredits (GAME) is a mineable cryptocurrency, which uses the Scrypt algorithm, with a block time of 90 seconds, and block reward of 25 coins. GAME is also designed to be deflationary, the maximum number of coins that will ever be in existence is 84,000,000. This is the polar opposite of inflationary virtual currencies like Linden dollars and World of Warcraft Gold.

Gamecredits CEO, Aleksandar Mihajlović, and Assistant CEO, Alex Shavers, were introduced to GAME when it was known as GamersCoin, a digital token that was abandoned by the original developers. The pair decided to improve upon the defunct code, which brought GameCredits to life.

The team changed the currencys’ focus during the development process, focusing on indie game developers. “We decided to make it as simple and accessible as possible,” states Nikola Divić, GameCredits Director Of Application Development.

“The last ten years will be remembered as the period indie game development really kicked off. AAA titles take too much money, people and time to make, but the rise of simple and free game development technologies such as Unity gave the people who have good ideas the opportunity to make awesome indie games.”
— – Michel Daggelinckx, Creative Developer at GameCredits

In September 2015, the GameCredits team released a game that demonstrates how GAME works, Turbocharged: Tokyo Grand Prix. The game received a news web wallet in December, and the team ran a three week driving tournament. The upgrade also gave developers the opportunity to battle-test a GameCredits betting system and Transaction Platform.

The GameCredits team also have two other games waiting in the wings, but a new payment API has taken priority. The new API will allow game developers to implement a monetization option that provides a secure experience for developers and users alike.

Developers will now be able to create invoices for their in-game items, by specifying the item and price, in either USD or in GameCredits.

GMC price April 2016

The invoice architecture was influenced by bitcoin payment processor BitPay. A registered GameCredits developer can now create an invoice and get his personal URL, where he can redirect the user to confirm the purchase, all by making a single call to the API.

The GameCredits team are already working on implementing their API with two game development companies, Peaksel and Webelinx,.

“The system keeps track of the invoices and sends notifications to the developer as soon as the invoice status changes, for example when it’s been paid for or confirmed by the blockchain,” says Divić. “All of the invoices are being saved in a database and are later used to show various statistics to the developer on his profile inside of the GameCredits Developer’s Center.”

Divić said that the biggest problem so far has been the “ruthless speed” at which the crypto market changes, “and the need to deliver fast and regularly so people don’t get discouraged or stop believing in us.”

A geographically dispersed team has also been a burden. The core development team is located in Serbia, while other team members span multiple time zones. “Even here in Serbia we are split up into two teams in two different cities so we travel a lot. But we have a vision and we endure,” said Divić


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