BackgroundThe Cosmic Ecosystem was initially conceived and developed as a joint effort between the talented fullstack application & blockchain developers at “Compilex LLC” and the execute YouTube Gaming partners at “Poofless LLC” and “Lachlan Projects” in December of 2017.
The Cosmic Ecosystem is a Decentralized cross-platform Virtual Asset Monetization Platform and development kit that utilizes cutting edge Blockchain technology in the form of “Cosmic ($COS)” Coins to facilitate the integration of non-reversible instant settlements, verifying virtual account ownership, and providing an expansive open sale API for 3rd party games and their communities to safely monetize their digital assets.
About UsWe are an experienced team of blockchain innovators, game developers, and social media influencers. Our project’s vision is lead by the minds of some of the largest gaming content creators and promoters in the online world. With a combined reach of well over 200 MILLION (200,000,000) views per month across their YouTube gaming channels alone, they are without a doubt proven trailblazers of new gaming technology.
The ProblemAs the world becomes more and more interconnected, adoption of the online video-gaming industry is rapidly expanding. Along with this growth of online gaming, there is an even more exponential growth occurring in the market of online microtransactions. US Consumers spent over $29.1b USD on virtual assets and in-game purchases in 2017. That is an annual growth factor of +18% from 2016 in the United States alone.
Unfortunately, fraud is a rampant problem for this rapidly growing industry. It is globally estimated that on average, 6 in 7 (or 85%) of virtual item transactions are fraudulent. This is unfortunate for all legitimate parties involved. Players are forced to seek out 3rd party services that illegally sell the in-game items or accounts they seek, while the gaming companies lose out on massive potential profits they could be realizing by facilitating the trade of such items and services through official channels.
The SolutionWhen the Cosmic Platform was initially created, our team set out with a number of clear functionality goals based on past experience developing and deploying microtransaction solutions for massively multiplayer online games.
- Open Source
- Decentralized
- Instant Delivery
- No Chargebacks
- Highly Scalable
- Virtual Account Ownership
- Expand Scope of in-game Monetization
In addition to giving game developers a platform for their microtransactions to run on, we want to empower players to take back ownership and control of their in-game data and progression, and game developers to create safe points of exchange for players to trade these assets amongst themselves for (customizable) small fees.
Use CasesPlaytime MonetizationCosmic Ecosystem provides the ability to buy, sell, and trade your hard earned in-game treasures and progression for $COS or anything else that can be exchanged for $COS.
Account OwnershipTake control of your online gaming accounts like never before. Using “trustless” blockchain smart contract technology (VAO contracts), Cosmic will enable you to safely buy, sell or even temporarily loan your online gaming accounts to 3rd parties in exchange for $COS coins!
Game-to-Game TradingOne of the most powerful functionalities of Blockchain technology is its universal decentralization. Why limit yourself to only being able to trade items, levels, or accounts in only one game? With the Cosmic Ecosystem, you will be able to trade items and other virtual assets between two completely separate games, instantly.
Public ICOYes! We will be holding a public ICO. More information including dates, our KYC program, and progressive bonuses will be announced in the coming weeks. Our Smart Contract source code will be made public on our GitHub before any funds are accepted. We will also be providing a simple step-by-step guide on how to participate and get early access to $COS for those who are not familiar with cryptocurrencies.
SummaryCryptocurrencies were born online, and are intrinsically virtual assets. The biggest struggle they face is bridging the gap between virtual and “real world” value. The Cosmic Ecosystem solves this problem by encouraging the exchange of virtual assets for other virtual assets, and then providing a simplified, single point of conversion, $COS.
$COS will be used by millions of gamers across the world to exchange hundreds of thousands of virtual assets every day. Assets that take time, skill, and dedication to obtain. In a way, $COS is the next generation of decentralized “mining” that bootstraps onto something people already spend large amounts of their valuable time on -- playing games.
