Seventh Continent (7C) is an online digital marketplace where users get to register their own businesses, invest in other companies and trade the markets on the earth's 'Seventh Continent'. The economy is based upon Bitcoin with users able to purchase digital resources such as land, materials, and services, needed for them to create their own products and enterprises.
Seventh Continent (7C) is an online digital marketplace where users get to register their own businesses, invest in other companies and trade the markets on the earth's 'Seventh Continent'. The economy is based upon Bitcoin with users able to purchase digital resources such as land, materials, and services, needed for them to create their own products and enterprises. Profits can be reinvested or cashed out to a fiat currency. The creators bill the ecosystem as the world's first skill-based economy simulation exchange in Bitcoin.
When users sign up to the game they are given 7,777 Marks, the internal free currency in the game. With these Marks, users are able to buy land, register a company, and begin trading with other players. In this way everyone who signs up to Seventh Continent is able to enjoy and get used to the game without committing themselves in bitcoin.
The bitcoin funded option, however, means that users can play the game in the same manner, but the profits generated by their digital company in the game are able to be withdrawn from the Seventh Continent ecosystem and into a normal bitcoin wallet.
To register their first company, users select a name (not one already in use on the 'six continents'), activity and type of company from a list of options. Initial capital investment from your Seventh Continent funds is inputted alongside the number of shareholders in the business.
To increase the productivity of the business, users are able to purchase efficiency boosters for the company as well as assets such as ‘land' and resources for productions. The end product of the company can be sold on the open market to other Seventh Continent users, based on the market rule of supply and demand.
Users also get access to a 'Hall of Fame' for top players in the game, a list of real estate available, daily market information, and an internal mail system.
There are also profit sharing units for the entire Seventh Continent available for users to invest in. These units give the owner a right to a share of the profits generated by the digital commodities exchange market in Seventh Continent and operate as an investment fund.
Seventh Continent have set out to create an easy to use and intuitive trading exchange where users can immerse themselves in a world of commerce and trade set on the Bitcoin-based 'seventh continent.’ By offering users free access to trade in the game initially with the in-house currency ‘Marks,' players get a chance to try the platform out before committing to the profit-making bitcoin side.
To ensure that there is a constant flow and supply of funds in the game, Seventh Continent is partnering with an existing real world brand to sponsor and endorse commodities in the game for trading. Profits from these deals will be reinvested in the game creating a positive sum amount of currency flowing between the players and traders.
Seventh Continent was founded in 2010 by Gregory Harmati. The company is based in the UK and with a second developer team working out of Budapest, Hungary.
Users can register for a free account on the site and can trade in a free currency called the Mark, which they receive 7,777 of upon signing up. To start your own business trading in BTC and to be able to generate bitcoin profits costs from 1 BTC depending on the nature of the company you wish to register. A 0.7 % transaction fee is placed upon all trades in the game.
Users can also earn their own BTC funded rewards for referring new players and members to the game. The referrer can earn up to 0.33 BTC in three steps as their new recruit creates their own Seventh Continent company and takes it up through the creation levels.
Cointelegraph: What inspired you to found Seventh Continent?
Gregory Harmati: The idea of an independent, free market and fair competition without constraints and red tape.
CT: There are now over 2,000 businesses registered on the platform, what are your hopes for 2015?
GH: We hope that Seventh Continent Marketplace wins the trust of Bitcoin enthusiasts and overall Bitcoin users to start an entrepreneurship in Bitcoin, as Seventh Continent Marketplace is the unique opportunity to start a business in Bitcoin.
I have the impression that only a select community is engaged on the Marketplace today; and instead of spreading the gospel, keep the bonanza for themselves. I also hope that those who haven't yet adopted Bitcoin will also join the Marketplace to do business and will become enthusiasts of the digital currency.
CT: How has the popularity of Bitcoin helped a platform like Seventh Continent develop?
GH: I do believe it did help despite the fact that we don't deliver any marketing activity. Bitcoin community is an intelligent one, open for new challenges and opportunities. Seventh Continent is for them, a skill-based Market!
CT: Can you share any exciting upcoming features or future plans with us?
GH: As we did last year, we are planning to organize a new 7 days Trade Rally event for the 7 BTC first prize.
CT: Companies can sponsor their own branded goods in the Seventh Continent world, do you have big plans for this marketing side of the ecosystem?
GH: Yes indeed! Not only will it be profitable for the user entrepreneurs since ad fees will be divided fifty-fifty with operator, but also I could prove to the world that Seventh Continent overcame the zero-sum game paradigm prevailing all existing markets and exchanges today! An idea that is very close to my heart.
As a matter of fact, a zero-sum game is where total losses subtracted from total gains of participants will sum to zero, similar to poker. This environment can be discouraging for many who lose money. However, on Seventh Continent digital products and services will be sponsored by brands, paying a small advertising fee each time an item is sold on the Seventh Continent Market. As a fee is split between the user who sold the item and the operator, the sum of money circulating on the Market will always be higher than the total sum of money invested by the users.