For today’s special feature about the best performing token of last week we are covering BORA, a Korea-based platform that wants to disrupt the immensely popular gaming sphere in the Asian country via decentralization of content and tokenization of in-game currencies.
Green Fields
South Korea has become globally renown for the way gaming is perceived in their society. Not only is it one of the main social activities in which the majority of the youth engages, but the professional gaming scene is also upkept at very high levels of competitiveness and profitability, with some of the biggest tournaments in the world taking place in the country.
This incredible force has also driven forward the development industry, with certain companies looking to take full advantage of the 35 million smartphone owners in the country by shifting their focus to mobile gaming, with companies like GRAVITY becoming big enough to be traded in NASDAQ. This is the reason why projects like BORA aim to disrupt this highly profitable market.
Built on the Ethereum mainnet, the BORA platform allows users for exchanging items earned in the associated games for points they can redeem for other items or as currency to purchase other items like music. This is fueled by the BORA token, which can be purchased in different exchanges and trades on the Ethereum net, while a second token (the SHELL token) is the in-platform trading currency and is accepted in a variety of apps within the platform, called BApps.
Plant Seeds, Reap the Results
With their model, they have already partnered with games like Giants: Awakened Heroes and Dragon Raja 2, making the platform available for over 50 million users, which turns it into quite a big player right off the bat. This number of users generate a big amount of BORA tokens by playing the game or by purchasing them straight from the exchanges, and then turn it into SHELL tokens to use them as currency in the BORA Island marketplace.
In BORA Island, users can also use their SHELL tokens to buy in-game items from the store, which have an associated value in BORA tokens, so the model represents a fluid marketplace with the two currencies staying in constant movement between the games and the market. On top of this, BORA also offers toolkits for developers to integrate the technology into their games, allowing both of the parties to increase their potential reach and user engagement metrics.
What gives BORA an edge over other gaming-related blockchain projects is their location, as South Korea offers a market with enough potential to reach stable points, and even profits, without having to venture into international markets. Whether BORA will be able to keep growing in their reach, while also remaining stable enough to fulfil the demand, is still to be seen.