The Answer

The SML game platform uses blockchain and NFT to solve the following problems.

First, the establishment of a platform for efficient game asset trading and in-kind using blockchain and NFT technology.

Current game services each have their own closed economy. In principle, the value of goods that are rewarded or purchased within the game cannot be preserved if they leave the game economy. To solve this problem, an item trading business model was derived, and trading of game items or game accounts is sometimes accepted within limited limits. The centralized trading site has a high risk of being the target of intensive hacking, and there is a problem that conflicts with the interests of game companies in managing items. Accordingly, the SML project team is trying to improve the mutual rights and interests between game companies and game users through a blockchain-based transaction platform.

Second, increase the convenience of user payment and asset movement for globalized games

According to Newzoo's 2017 Global Game Market Report, game sales in the Asian market alone amounted to $51.2 billion. This is a 9.2% increase over the previous year and accounts for 47% of the global game industry revenue. However, although India and other Southeast Asian markets and South American markets have great growth and potential, user benefits are limited due to the lack of various and efficient payment methods. Blockchain-based payment and remittance methods will be able to overcome these limitations.

Third, reduced fees and increased added value through decentralization of blockchain

Due to the rapid growth of mobile games, the issue of excessive distribution cost of giant dinosaur platforms is to be solved through blockchain and NFT-based game services. It is also the vision of the SML ecosystem to be a platform for users and by the users.

Fourth, provide opportunities to create new business models

It is the possibility of a new service model that takes advantage of the fact that data cannot be arbitrarily changed or forged. The fundamental characteristic of blockchain, that once recorded data cannot be deleted, is that it can provide the reliability of the operating platform, enabling the creation of various business models.