The online gaming industry now has a reason to rejoice as the Skincoin cryptocurrency ecosystem is soon going to be a reality. The universal Ethereum based cryptocurrency for trading game skins and placing bets on eSports events is currently in the process of raising the required funds through an ongoing ICO. The ICO, which went live on June 21, 2017, has already crossed the minimum fundraising goal and inching towards its maximum target.

The Skincoin ICO has successfully overcome an initial hurdle posed by the struggling Ethereum network. Following an exponential increase in the use of Ethereum blockchain for conducting ICOs, the cryptocurrency network has been congested for the past few days. Few high-profile ICOs that went live in the past week made matters worse, due to the huge number of transactions amounting to millions of dollars in a short span of time.

The crucial timing between Skincoin crowdsale and the Ethereum network lag had cast some apprehensions about its performance in the initial few days. But surprisingly, Skincoin raised more than 5000 ETH in under 24 hours of the crowdsale, which is over $1.6 million on day one. As the ICO proceeds, the platform intends to raise a maximum of 100,000 ETH by offering 600 million SKIN tokens to the crowdsale participants. If the current response is any indication, then the ICO will be hitting the maximum target in no time.

Skincoin is the creation of a team of experts with lots of experience in the gaming industry. Being game creators themselves, the team has built a cryptocurrency platform with the gaming community and their requirements in mind. The easy to use cryptocurrency will soon make a place for itself as the preferred method for in-game exchange of value. Starting with transactions involving game skins, Skincoin looks forward to becoming the thread that connects various game verticals including betting services, marketplaces, online game stores and other gaming services.

The Skincoin roadmap shows that the platform will soon have more products entering the market that allows people to trade skins easily. Other game developers and betting services will also be able to integrate SKIN into their applications with soon to be introduced APIs and other resources.

Meanwhile, those who would like to stay on top of all these developments while being part of the whole revolution can do so by participating in the ICO before too late.

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