The Finnish games studio Social First announced the acquisition of GamePay, a cash trading platform for game assets, which will consolidate GamerPay’s mature technology and community trust in CS2 skin trade (billions of dollars in the global market) and lay the foundation for a safe and reliable player-driven economic model.
The global grey market for gaming goods, of tens of billions of dollars, confirms the strong demand of players for the real value of game assets, yet these unregulated trading channels often expose users to fraud and injustice. Social First stated in its bulletin that GamerPay provided a safe and reliable alternative by certifying trading mechanisms and transparent pricing systems. This will introduce trust and regulation in a dynamic market, safeguarding the rights of players and creating new sources of income for developers and distributors. Chief Executive Kim Soares of Social First said: “We are honoured to include GamerPay under our flag and to continue its mission of providing safe and credible transactional services to players. This will not only create new opportunities for Nexus State players, but will also promote the creation of a real-life game-trading ecology. The GamerPay platform can be expanded to provide integrated payment services to straight-to-consumer consumers, and our goal is to make it a solution available to all game companies and to help them buy it in their applications outside traditional shops.”
The co-founder of GamerPay, Morten Byskov, stressed: “From its inception, GamerPay has been committed to building trust and transparency and making the trade in digital items of real value easier and safer. Joining Social First is an exciting new chapter, and they share our vision of a trading market that goes beyond CS2 and coincides with our quest for a fair, player-oriented economic model. More importantly, we share the same values in caring for players and communities.” GamerPay is a peer-to-peer market based on the purchase and sale of game skin and related virtual items, with a focus on providing the player with a relatively safe and convenient trading environment and a fast financial settlement experience. The Platform emphasizes trade support for well-known game skins such as CS:GO/CS2 and addresses global players, claiming low-cost, immediate delivery, and a system of control and trust between buyers and sellers.
Social First is a Finnish game studio that focuses on “social priorities” and aims to use social interaction as a central driver of game experience and product growth. Nexus State is the first game product launched by the studio, located as social tsar MMO, emphasizing the game itself as a social platform, with the aim of focusing on cross-platform social experiences over the long term. The trading platform will continue to function normally and all user accounts, balances and commodity lists will remain as they are. Current clients will continue to benefit from consistent security transactions and timely response client support. With additional resources and long-term investments, Social First plans to optimize the process and create a better experience for existing and new clients.
