TALLINN, Estonia, September 23, 2022 (GLOBE NEWSWIRE) — Estonian digital download merchant Gembyte announces that it will start accepting customers from the broader Asian market, including Japan. The company will begin accepting customers in select jurisdictions, with expansion expected to continue in 2023. As it expands its global offering, the company itself and its day-to-day operations will continue to be domiciled in Web 3.0-haven Tallinn, Estonia.
Gembyte is an online merchant specializing in the sale of virtual goods and digital downloads, targeting the competitive esports market. Gembyte offers competitive prices based on discounted market value. All products are selected and selected, then subject to individual resale. Today, the main focus is on Counter-Strike skins and items, but the offering will expand as the virtual goods platform gains momentum. Still, Counter-Strike is in a league of its own. According to official Steam Charts, at the beginning of 2022, between 430,000 and 800,000 people played CS:GO at the same time on all devices.
Virtual economies on the rise
The release of Blizzard Entertainment’s World of Warcraft in 2004 and its subsequent huge success worldwide has forced both MMORPGs and their secondary markets into mainstream consciousness. In their wake, they have followed games like Counter-Strike: Global Offensive, Fortnite, Dota, and League of Legends, each deeply intertwined with the digital economy.
In 2001, EverQuest players Brock Pierce and Alan Debonneville founded Internet Gaming Entertainment Ltd, a company that offered virtual goods for real money. Today, real money trading on a virtual market has grown into a multi-billion dollar industry. Hundreds of companies have found enormous success in this newfound market, with some virtual items selling for several million dollars, such as Beeple’s “Everyday” NFT art project, which fetched $69.3 million at the esteemed home. Christie’s British auction house in 2021.
Numerous studies have shown that important markets for virtual goods are emerging markets such as Eastern Europe, South America, and Southeast Asia. South Korea is estimated to have the largest share of the global real money trading market, closely followed by countries such as Japan. As such, Gembyte’s foray into Asian markets should come as no surprise: the virtual goods platform simply follows its target audience.
Gembyte.com is owned and operated by Gembyte International OÜ. The company was founded in 2021 and is based in Tallinn, Estonia.
Public Relations Executive
Image 1: Digital download merchant Gembyte gears up in Asia
Digital download merchant Gembyte is gearing up in Asia.
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Digital download merchant Gembyte gears up in Asia