V. Competitive Analysis

Competitor 1
Competitor 1 is a game technology studio that uses blockchain to develop digital economies based on digital assets, verifiable trading methods, and product scarcity. Competitor 1 believes that true ownership of digital assets, verifiable scarcity, and integrated secondary markets will spawn a new generation of games. The emerging economies centered on virtual possession will enable gamers, developers, and creators of content to develop a closer relationship with the games they are passionate about.

Competitor 2
Competitor 2 operates an online marketplace where gamers can trade collectible video game items using cryptocurrency. These non-fungible items include player skins, weapons, and special game editions. The company has also expanded to include a marketplace for physical items, such as gaming keyboards, headphones, high-powered routers, and TVs.

Competitor 3
Competitor 3 is a blockchain-powered peer-to-peer digital game marketplace that offers a vast collection of games, including Ash of Gods, Day of Infamy, and GoatPunks, which can be purchased with Ether. The marketplace also enables microtransactions and in-game trading of assets.  

Strengths

• Implementing a blockchain-based economic model to compensate players for their contributions within the ecosystem
• Easily accessible and customizable software
• The founder’s experience will help the company to establish itself

Weakness

• Being new to the market can cause a significant lag in establishing goodwill and trust.

Opportunities

• North America’s blockchain technology market will witness market growth of 49.8% CAGR during the forecast period (2021-2027)
• Good expansion possibilities and creation of new products/services

Threats

• Increased competition from established and new entrants in the market.