Mfun is a blockchain rewards platform designed to capture more value from the gaming economy and redistribute that value more fairly to gamers and local game providers. Mfun wants to solve three main inefficiencies which are: (1) Gamers are not rewarded for their time spent playing; (2) Game providers cannot get a good return on their ad spend and (3) Lack of transparency and trust in the gaming economy. Mfun will use a three-pronged approach to address these inefficiencies: (1) Get Rewarded For Playing; (2) Bypass Middlemen; (3) Safeguard Privacy.
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To game developers and publishers, no more guess-vertising! They can now reward gamers directly for actual time spent playing their games, instead of wasting their marketing budgets on empty ad impressions and clicks that drive no results. Gamers are more motivated to try out new games as they get rewarded. Developers also get to save on fees paid to third-party payment providers that suck up a huge part of their budget and only need to pay for actual time gamers spent playing their games. A win-win for both!
Market Snapshot and Opportunity
Currently, there are 300 million online gamers in Southeast Asia. According to Statista, PC Online
and mobile gaming revenue in South East Asia hit over US$2.2 billion in 2017 with expectations that it
will reach over US$4 billion by 2021. How can we tap on this opportunity? One word. Mfun. Mfun is headquartered in Singapore, locatedin the hub of the No.1 fastest growing gaming market in the world, Southeast Asia. The Mfun team has deep experience and connections in the high tech and game industry across Southeast Asia.
Smartphone Penetration in Indonesia
As of December 2017, 88.37% of Indonesians were using the Google Android platform, 3.84% were
using Apple’s iOS platform and the remainder were using other devices6. The Mfun platform will
be for both iOS and Android platforms, catering to the major market segments in Indonesia. In
2013, an estimated 24 percent of mobile phone users in Indonesia owned a smartphone and this
figure is estimated to be 53 percent by 20177.
Indonesian Game Developers Market
According to the Indonesian Gaming Association (AGI), there are approximately 1,000 local Indonesian gaming developers, which account for 2% of the online games that are played in Indonesia8. However, as a result of the huge market potential, there is an increasing amount of support being provided to “indie developers” from large Indonesian organizations. Telkomsel and XL Axiata (two of the largest Indonesian telecommunications providers) have launched programs, Teman Dev and Gudang Aplikasi, respectively, to boost local gaming community development. Within the year, Axiatahad approximately 22,000 applications ready for download on their store.
Mfun token is a utility token which will be created to enable transactions within the Mfun Ecosystem.
“Mfun” tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant
to a related ERC-20 smart contract. Game providers can use Mfun tokens to rewards gamers for their time spent and for trying out new games. On the other hand, gamers can make in-app purchases using these tokens to facilitate their gaming experience.
A Vendor-Neutral Platform
For game providers, adopting a vendor-neutral platform like Mfun’s allows them to continue to have exclusive control over their own gamers’ data, while only rewards earned and in-game purchases enter the transaction stream. They can rapidly add and maintain gamers without adding complexity as they introduce more games onto the Mfun platform.
Tang Boon Ping CO-FOUNDER
Brian Fan CO-FOUNDER
Kevin Pang CHIEF TECHNOLOGY OFFICER
Michael Lee HEAD OF OPERATIONS
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[su_quote]This article is writing on 25 July 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]
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