SKINCOIN token (SKIN) - decentralized cryptocurrency for making bets, accepting and sending payments for game skins in Counter-Strike: Global Offensive, Dota 2, Team Fortress 2. Tokens SKINCOIN (SKIN) are to be released based on the Ethereum blockchain platform. Tokens shall be used for trading with game sites, buying/selling skins, making bets on gambling and betting platforms. Skins are virtual items that can be used in games like Counter-Strike: Global Offensive (CS:GO) or Dota 2. The term “skin” is derived from the typical function of these virtual items: changing the appearance of a player’s in-game avatar, weapons, or equipment.
The market for skin gambling is distributed across a handful of dominant products. Sportsbook-style betting (wagers on esports matches) is the largest vertical. The second most popular is jackpot-style games, essentially lotteries where players receive tickets based on the value of their deposited skins. Simple forms Notably, while skin-based slot machines do exist, they are infrequently found and appear to garner little-to-no interest from esports fans. This diversity is one reason why skin gambling handle is so much larger than esports cash gambling handle. But even after adjusting for that difference , skin gambling is still some six times larger than cash gambling. In terms of market participants, the skin gambling industry grew quickly from a handful to hundreds of sites in the course of a year. Ultimately, we believe the bulk of handle in the skin betting industry was generated by roughly fifteen sites.
In recent years, cybersport games have gained immense popularity and covered by major media. The most popular games are Counter-Strike: Global Offensive and Dota 2. Each day more than 470 thousand people play in CS: GO simultaneously, for Dota 2 this figure is more than 860 thousand people. Now players spend in Dota 2 in total of just over 11 billion hours per day, whereas in CS: GO this figure is about 8 billion hours. According to Steam Spy, the game Dota 2 has more than 99 million Steam users, and in the last two weeks, about 9.5 million users have launched the game. 23.5 million people own CS:GO, of which 8.8 million users ran it in the same period.