REFEREUM Coin Guide: changing the gaming world?
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The development of technologies keeps making people’s lives easier, more convenient, and fun. Nowadays, almost all kinds of people with all kinds of interests can find what they like and manage to get in touch with others who have similar interest even overseas. Blockchain technology is also starting to have its input in the process of satisfying the demand of certain customer interests and wants. REFEREUM, for example, uses the blockchain, especially for the gaming industry.
What is REFEREUM?
The REFEREUM platform is the first one in its type as a marketplace for gaming. The REFEREUM coin, which is very often referred to as RFR token is the reward that the gamers receive for their transparent purchases, as well as their overall involvement in the platform. In this article, we will try to get a good understanding of the REFEREUM coin and find out everything about it. Refereum concept is to eliminate open market practices that involve individualized legal costs simultaneously making marketing intermediaries superfluous. By connecting various gaming groups, Refereum will provide revenues to gamers, influencers, and developer while maximizing marketing speeds and player involvement.
What REFEREUM aims to solve?
REFEREUM is trying to solve some problems that are built around affiliate marketing especially in the industry of video games. REFEREUM platform ensures transparency, security, and a decentralized marketplace that is created directly for the developers and the gamers through Smart Contracts. During this process, the blockchain technology keeps the record of referrals and purchases. This way the company wants to stay away from unnecessary fees, scams, third parties, and even marketing budgets, which the company wants to redistribute among the influencers and the gamers.
The REFEREUM solution wants to transfer the value to intermediaries such as gamers and influencers instead of agencies that are making ads. To be more precise the developers of games are able to buy REFEREUM cryptocurrency and reward the influences as well as the players through it for what they have done. In the meantime, the players can purchase and even earn the RFR tokens for their playtime and then use it later in order to buy more games or even to convert it to cash. The involvement of all users – developers, gamers and even influencers is creating a continuous feedback loop and it leads the network to grow and become more effective.
As a matter of fact, everyone can become a REFEREUM user and it does not even ask for a bank account.
REFERERUM interesting features
- REFEREUM lets game developers improve their marketing campaigns.
- The upfront, high fees for campaigns that don’t give good enough Returns on Investments, are eliminated from REFEREUM platform.
- The users who complete successful purchases get rewards directly.
- The risks of scam along with the legal paperwork is eliminated through blockchain technology and this is for both purchase and for a number of different call to actions.
- REFEREUM lets users make microtransactions that are $0.0001 as a tutorial.
- Influencers are able to choose the content of their preference for their followers, regardless their size.
- REFEREUM tries to create a good enough platform that will also serve as a source of income for the active audience, which has not done sponsorship before.
- Users can earn RFR tokens by sharing links as well as by passing through game levels.
- The 99% of the gamers who are part of the vibrant community can participate in an economic way too, thanks to the referral ecosystem of the blockchain.
The team behind the REFEREUM platform and ecosystem is a group of veterans from the gaming industry who come from EA, Google, IGN, Unity, Zynga etc. and cryptographers who have experience with Polybius ad Chronobank. The founder of REFEREUM, Dylan Jones, has a rich experience in the gaming industry and he very much hopes that REFEREUM will make the industry better, more productive, and sustainable in terms of finances.
REFEREUM has an official partnership with Connext API. In case you are wondering, API stands for Application of Programming Interface, which is one type of technical communication among payment API, and servers. Similar communications are usually in form of technical calls, which enable the transaction processing. In the meantime, Connext appears to be a payment API, which is designed mainly for applications that support Ethereum. As a result of the partnership with Connext API, REFEREUM is able to allow consumers to buy RFR tokens safely and at the same time by keeping the payment method as convenient as paying with credit cards.
The REFEREUM crypto that is referred to as RFR token is based on Ethereum technology (ERC20) and is a smart contract digital utility token. The REFEREUM Inc. issues 100 RFR utility tokens per $1. The RFR tokens have the ability to execute code. The tokens do anti-money laundering and anti-terrorist financing.
RFR tokens are built to enable the decentralization of cash reward schemes and referral marketing in a global context. Users sharing referral links will earn RFRs exchangeable for cash or new gaming content. With RFR tokens, users can pay for more traffic, share accrued profits with influencers, or have their game featured in the marketplace for a fee.
RFR tokens are based on ERC 20 standard and it tries to exclude even the participation of the REFEREUM platform when one user is making transactions using RFR tokens to the other user. This way the company wants to shift the control of the virtual currency towards the community and tries to make it completely decentralized. The company has tried to make the purchase of RFR coins for buying, for example, a game, as quick and easy as possible.
Here are some use cases for various users and how RFR tokens can be useful for them.
- Influencers: earning revenue RFR bounties of auditable game events and player referrals connected to Twitch or YouTube channels. A holder can sell his RFR stake to create revenue.
- Developers: use of Refereum’s Unity’s plug-in to allow for the external purchase of RFRs. RFR bounties will be used to compensate players for in-game achievements as well as influencer tasks. Developers of games are able to use RFR tokens as the method of payment when featuring the game they have developed as well as sponsor engagement on the REFEREUM website.
- Players: players earn bonuses after completion of in-game Also, they can sell RFRs to make income or use RFRs for in-game purchases. Anyone is able to purchase a game from REFEREUM.com with the RFR tokens and see the receipt on the blockchain technology.
The total supply for the REFEREUM cryptocurrency is 5 billion tokens. The distribution of the tokens is as follows:
- 50% for the crowd sale.
- 25% for the development of the platform.
- 10% for creating incentives for the game developers.
- 10% for the REFEREUM team.
- 5% for the influencers.
As the tokens are fully functioning for the times of purchase they are mainly sent promptly. The company uses Know Your Customer KYC approach.
The token sale for the REFEREUM ICO started from the 18th of January 2018 and ended on the 8th of February 2018. The conversion rate at the time of the ICO was $0.01=1 RFR. The hard cap set by REFEREUM was $25 million for the 50% of the total RFR tokens. The minimum for the presale was $20,000. The maximum market cap for the ICO is set to $50 million. During the crowd sale and the presale, there were no bonuses disclosed. The accepted payment cryptocurrency was Ethereum. During the ICO the company sold around the 40% of the total token supply and the amount raised in ETH was worth around $27.8 million with the exchange rates of that time period.
Since the launch of the REFEREUM platform, there were around 150,000 gamers who joined it within the two-month time frame and the number of the gamers keeps growing according to the company. The price of the RFR token rose up to $0.0328 on the 2nd of March 2018, then it decreased and became around $0.015269 on the 6th of March 2018. The market cap of REFEREUM was $31,023,673 on the 8th of March, 2018 then it rose up to $40,340,068 later during the same day.
How to buy REFEREUM?
The first thing you need to do when you want to buy cryptocurrency is getting a digital wallet. As an ERC20 REFEREUM can be stored on various ERC20 compatible wallets. However, you should always keep in mind that the most important thing that you should take into account before getting a digital wallet is the safety. If your wallet is not safe enough your tokens are going to be at a risk of being hacked and theft. Some of the most reputable wallets that support REFEREUM are MyEtherWallet and Ledger Nano S.
MyEtherWallet is a famous web wallet. This means that the RFR tokens are going to be stored online. Even though MyEtherWallet is recognized as a good Ethereum wallet, it is not recommended to store large sums of tokens on any wallets that are connected to the Internet. However, on the other hand, web wallets such as MyEtherWallet are rather convenient to use and handy as you have access to your tokens all the time as long as you are connected to the Internet.
Ledger Nano S is one of the most secure hardware wallets available in the market. Ledger Nano S is classified as a cold storage wallet, which means that it is offline and stores the tokens without having to be connected to the Internet. However, Ledger Nano S comes in form of a device and it has to be purchased beforehand.
After getting yourself a secure and a reputable wallet you need to make sure you own sufficient amount of ETH, BTC or USDT (Tether) because you cannot buy RFR with any other cryptocurrency or fiat money. After getting ETH, BTC or USDT and the REFEREUM wallet you are ready to buy REFEREUM cryptocurrency. The exchange websites where you can buy REFEREUM are Gate.io and Cobinhood.
Gate.io is coming from the US and lets its users buy RFR with RFR/ETH and RFR/USDT exchange pairs.
Cobinhood is a cryptocurrency exchange platform based in the Cayman Islands. Here you can buy RFR tokens with the following exchange pairs: RFR/ETH, RFR/USDT, and RFR/BTC.
After purchasing the RFR tokens you should store the coins in your digital wallet safely. You are not recommended to share your wallet’s private key with anyone as it increases the risks of becoming a victim of theft.
to sum up…
REFEREUM is an interesting platform for game developers, influences, gamers and just for everyone who is interested in this industry. As the ICO is over the company is all ready to offer its full services and all we have to do is see what does the future hold for REFEREUM and the RFR tokens.
We hope this article helped you to get a better understanding of REFEREUM. Please make sure to visit our website for more content on various crypto related topics!