Metaverse Information Bureau News: Game asset trading is changing! Experience safe and transparent trading with the Overtake Marketplace beta version! #Overtake #BlockchainGame #GameAssetTrading
Video explanation
Making trading game items safer? New marketplace "Overtake Marketplace" is launching!
Hello, I'm John! Recently, have you ever been a little nervous about buying and selling rare items or characters that you've acquired in online games with other players? You may be worried about whether the transaction will go smoothly or whether you'll be scammed. Today, I'd like to talk about thePerson-to-person transactions (also called P2P transactions)We're here to bring you news about Overtake Marketplace, a new service that may make commerce safer and more transparent!
What are "game assets" anyway?
First of all, the term "game assets" refers to items, characters, skins (things that change the appearance), land, etc. that can be obtained in the game.A general term for anything of valueThis includes things like the rare sword you got by playing hard and the characters you raised with care!
Issues with previous game item trading
Until now, there have been several issues when players have traded these game assets with each other, especially when such transactions are not officially approved by the game company (sometimes called "RMT: real money trading").
- Risk of fraud:This is a problem where you pay money but don't receive the item, or conversely, you give an item but don't get paid.
- Lack of transparency:Sometimes, due to lack of information, it can be difficult to know whether the person you are doing business with is truly trustworthy.
- Even if the fees are high:When using a service that acts as an intermediary for transactions between individuals, the fees can sometimes be quite high.
In fact, these informal trading markets account for 100% of the world's trade annually.$550 billion (more than 8 trillion yen in Japanese yen!)It is said to be a very large facility. While many people use it, unfortunately there have been quite a few problems.
A breath of fresh air! What is "Overtake Marketplace"?
That's where Overtake Marketplace comes in! It's a platform that makes it easier for people to trade game assets.Safe and more understandable (transparent)It's a new online marketplace that aims to
This Overtake Marketplace is particularly focused on the "Sui" type ofBlockchain technologySome of you may be wondering, "What is blockchain?" Don't worry. Next, I'll explain how it works in an easy-to-understand way.
How to make transactions safe? How Overtake works
You may be thinking, "Blockchain sounds complicated..." but don't worry! I will explain as simply as possible the main technologies and mechanisms that Overtake uses to ensure secure transactions.
- Utilizing blockchain technology:Overtake uses a specific blockchain called "Sui." In a nutshell, blockchain isA digital transaction record notebook that can be monitored by everyone and is extremely difficult to tamper with" It has the great advantage that transaction records become transparent and fraud becomes more difficult.
- Smart Contracts:This means that "according to pre-defined rules (for example, when the buyer pays, the seller's item is automatically delivered to the buyer),A program that automatically executes contracts" Because transactions are conducted fairly without human intervention, breach of promises is less likely to occur.
- Multi-Sig Escrow (Secure Temporary Deposit System):When making a transaction, a mechanism for temporarily storing items or money in a safe third party is called "escrow." Overtake adds the concept of "multisig." This is similar to the concept of needing multiple keys to open a safe.A mechanism that increases security by requiring multiple approvals to complete a transaction.
- Low fees:Overtake also aims to keep transaction fees low, which is a great point for users!
Currently, Overtake Marketplace has launched as an open beta version. The open beta version is like a trial period before the full service launches, during which users can use the service and feedback is used to further improve the service.
How will this change trading for gamers?
If a system like Overtake becomes widespread, trading game assets for us gamers might change like this:
- Trade with confidence:This reduces the risk of fraud and makes the exchange of valuable items and money safer.
- Transactions become transparent:It will become easier to keep records of who transacted what (while protecting personal information, of course), making it easier to spot suspicious activity or fraud.
- Buy and sell items more easily:With safety and low fees, you may be able to buy and sell items more easily than ever before, allowing you to enjoy the game even more!
John's words
The world of gaming is also evolving rapidly thanks to new technologies like blockchain! It's exciting to think that the day may come when item trading between individuals, which used to be a bit scary, will become safe and commonplace like this. When you hear the technical terms, you might think, "That sounds difficult!" at first, but if this technology makes our gaming life more convenient and safer like this, it's more than welcome! I'd like to keep an eye on how this "Overtake Marketplace" will develop in the future.
This article is based on the following original articles and is summarized from the author's perspective:
Blockchain P2P Game Asset 'Overtake Marketplace' Open-Beta
Service Launch