Digital downloads merchant Gembyte gears up in Asia

TALLINN, Estonia, Sept. 23, 2022 (GLOBE NEWSWIRE) — Estonian digital download merchant Gembyte announces that it will begin accepting customers from the wider Asian market, including Japan. The company will begin accepting customers in select jurisdictions first, while its expansion is expected to continue in 2023. While expanding its global offering, the company itself and its day-to-day operations will continue to be domiciled in Tallinn, the paradise Web 3.0, Estonia.

Gembyte is an online merchant specializing in the sale of virtual goods and digital downloads, geared towards the competitive esports market. Gembyte offers competitive pricing based on current market value. All products are selected and sourced, then subject to individual resale. Today, the focus is primarily on Counter-Strike skins and items, but the offering is expected to expand as the virtual goods platform grows. Still, Counter-Strike is in a league of its own. According to the official Steam Charts, in early 2022, between 430,000 and 800,000 people were playing CS:GO simultaneously across all devices.

Booming virtual economies

The release of Blizzard Entertainment’s World of Warcraft in 2004 and its subsequent huge success around the world forced both MMORPGs and their secondary markets into mainstream awareness. In its wake, games like Counter-Strike: Global Offensive, Fortnite, Dota, and League of Legends followed, each deeply tied to the digital economy.

In 2001, EverQuest gamers Brock Pierce and Alan Debonneville founded Internet Gaming Entertainment Ltd, a company that offered virtual merchandise in exchange for real money. Today, real money trading in a virtual market has become a multi-billion dollar industry. Hundreds of companies have enjoyed huge success in this new market, with some virtual items selling for millions of dollars, such as Beeple’s NFT art project “Everyday” which grossed $69.3 million for the prestigious house of Christie’s UK auction in 2021.

Many 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 hold the largest share of the global real-money trading market, closely followed by countries like 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 headquartered in Tallinn, Estonia.

Contact information:
David Broc
PR relations officer
[email protected]

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Image 1: Digital downloads merchant Gembyte gears up in Asia

Digital downloads merchant Gembyte is gearing up in Asia.

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