Refereum Transforming video game marketing and engagement Review And RFR Token Analysis
Refereum cuts out the marketing middleman by directly rewarding influencers and gamers to promote and play video games. Refereum uses the blockchain to directly connect developers and influencers, resulting in lower marketing costs and increased profits for everyone. In addition to more effective growth, Refereum strengthens engagement by offering cash prizes — enabling rewards for anything from an in-game high score to an eSports grand prize. We are working closely with Twitch and Unity, and anyone can play our open source demo today.
Pioneering Blockchain in the Game Industry
Refereum uses the blockchain to directly connect developers and influencers, resulting in lower marketing costs and increased profits for everyone. In addition to more effective growth, Refereum strengthens engagement by offering cash prizes — enabling rewards for anything from an in-game high score to an eSports grand prize. We are working closely with Twitch and Unity, and anyone can play our open source demo today.
Gamers can make money playing video games. Influencers can effectively monetize their followings. Developers can offer cash rewards with a new level of specificity to expand and award their fanbases.
- Earn money from video games
- Share games and earn more
- Trade or spend Refereum like cash
- Secured gaming profits
- Earn more money through Refereum
- Extra options through Award.Network
- Secure profit with even small followings
- Do it all with no legal fees or set-up
- Attain unparalleled cost effectiveness
- Secure easily scalable direct marketing
- Set any criteria for paid growth
- Offer cash prizes for eSports, clans, etc
Refereum ICO Overview
The Refereum ICO and RFR token set out to disrupt the video game marketing industry. The gaming industry spends approximately $20 billion a year in advertising and marketing. Some game developers spend three times as much money on advertising as on gave development itself.
Refereum highlights the potential that ‘referral marketing’ holds, through the use of influencers to cut down on costs, but also the fact that inefficiencies prevent developers from fully exploiting this potential. If developers must take the time to identify influencers and develop one-on-one relationships without having a way to measure the impact of their spending on sales, the costs could outweigh the benefits.
Refereum ICO Value Proposition
The Refereum ICO solution to the inefficiencies of advertising in the gaming sector is simple – combine the transparency of the blockchain with the power of referral marketing. As a foundation for this ecosystem, Refereum created a referral marketplace for games, live streaming and videos.
Leveraging the blockchain allows a trustless way to track every view, like, share or recommendation that results in a direct sale. To accomplish this, all transactions using the Refereum token (RFR) are tracked on the Ethereum blockchain. This allows developers to see exactly how many copies of their game are selling, and influencers to track how many people are buying games from their recommendations.
The Refereum token (ERC-20) is the means of value exchange on the platform. Developers promote their games by purchasing RFR, which can then be distributed to influencers and gamers for engaging in a variety of activities, e.g. referring, buying and playing games. Influencers who promote games on the platform receive RFR as a reward for user engagement and purchases that result. Gamers can also earn RFR through watching live streams on the platform.
The Refereum service launched in July 2017 has a completed roadmap. It is currently operational and as the platform matures, more developers will implement their games onto the platform. Currently, users are able the purchase four games with RFR tokens. Earning RFR tokens can be accomplished though watching or hosting designated streams and by connecting Refereum to other services such as Twitch, Discord, and Telegram. Also RFR tokens can also be obtained by, of course, sharing a referral link through any of the platforms mentioned above.
Use of Blockchain
The gaming market is a rapidly growing sector with opportunities to have many innovative technologies developed for the space. However, when comparing Refereum with other ICOs that set out to disrupt entire industries, Refereum falls short in this regard. The platform itself is highly focused on referral-based marketing and Blockchain technology is simply a means to an end without a significant purpose that would justify its own token, other than as an investment vehicle for the Refereum platform.
The whitepaper lacks technological detail. Approximately a page and a half is dedicated to discussing the technological foundation of the platform, most of which is a general layman explanation of the benefits of Blockchain technology and details regarding ERC20 tokens, which are not unique to RFR. The focus is towards the benefits of the Refereum of the platform with respect to gamers, influencers, and developers.
Refereum ICO Team
Dylan Jones is the Founder of Refereum. He has previous experience as a game designer on releases such as Battle Group 2. He is also a Co-Founder of Gamenest, an indie games co-working space.
Alistair Doulin is CTO of Refereum. He has 7 years previous experience as CTO with Bane Games and an additional 8 years on top of that in software engineering.
Sloane Earl is head of Business Development for Refereum. She has been involved in both the design and marketing of video games for the last 4 years. Most recently, she served as Business Development Manager for Plastic Wax, a leading animation and visual effects studio, where she is still listed as employed on her Linkedin.
Advisors for the Refereum ICO include Silicon Valley veterans Miko Matsumura (Co-founder of Evercoin), David Park (Facebook) and Koh Kim (formerly Google).
Current ICO Strengths and Opportunities
The Refereum platform is already live along with a testnet. Refereum have attempted to introduce a number of incentives within the platform to gain user traction. Users can visit the site to earn points toward RFR token bounties by purchasing games or watching Twitch feeds after creating a Refereum account and linking it to their Twitch.
Though the project is nearly ready for launch, no specific dates have yet been released. The team have also released an open source example of how RFR tokens could be implemented directly into games.
The hype around the Refereum ICO is through the roof. As of February 2nd, the official Telegram group has more members than any other token. That said, the disparity between the Telegram chat and Reddit channel is perplexing, with some users sharing their suspicion fake accounts could be the cause. Like other recent projects, we are finding that a third-party service appears to be answering questions there.
Whatever the case, Refereum have got their marketing game down and managed to draw a lot of attention to the project.
Referem ICO Weaknesses and Threats
Refereum throws around the names Twitch and Unity a lot, alluding to some type of relationship with both companies. The white paper lists them both under Industry Support and touts that the Refereum platform adoption has been integrated with Twitch. Upon digging a little deeper however, we found the true nature of this relationship has been obfuscated. Buried in the website, an explanation of the relationship is provided which in part reads:
Partnerships are regarded as one of the most promising signs a project will scale, adding perceived value to the token and the ecosystem. Misrepresenting the relationship of Refereum with these big names in the gaming industry creates a stronger confidence for investors that is built on false pretenses.
We have our doubts about the use case of the Refereum Token itself. If the purpose is to create a better referral system for influencers and developers, there may be no need for the token at all. As an influencer today using Twitch, I have the option to earn cash by simply joining the partnership program.
A developer can easily source the biggest or most relevant influencers on Twitch right from a database and use tools such as promo codes or referral links to track sales without the need for blockchain.
Even regular users can earn a commission for promoting products via the Amazon Associates program. Users simply post a link to the game and earn a percentage of all purchases.
The whitepaper throws around a lot of statistics that show how important referrals are for marketing – and they are – but provides no evidence of developer dissatisfaction with the way the system currently functions. If the potential to cut costs for marketing really exists, we’re left wondering why a team so entrenched in the gaming industry hasn’t attracted any partnerships with game developers themselves.
Major milestones that Refereum have set out have been completed. It is now simply a matter of developing the Refereum brand so that more users and creators use the platform. Since the platform is not significantly technologically ground-breaking, Refereum has been able to produce a working product and are at the stage of development where the focus is adoption of the platform. Only time will tell if users will respond well to referral-based marketing campaigns, especially considering that many ICOs are implementing this growth strategy and the large influx of referral links that users will see may cause a sense of annoyance and possibly distrust.
The Verdict on Refereum ICO
On the surface, the Refereum ICO presents an appealing proposition to all participants in the world of gaming. They have been extremely successful in marketing their product and selling the story of an industry on the precipice of disruption. But some industries are not ripe for disruption through application of the blockchain. For all the hype and buzz, the substance just isn’t there.