Gameflip

Gaming companies make most of their money from in-game purchases — digital items players buy to help them win or have more fun.

Last year, gamers were projected to spend $168 billon on such items. But once they move onto a new game, any unused items will be worthless. Players will be stuck with them.

Enter Gameflip. This marketplace enables users to sell (“flip”) their digital items to other gamers — a sort of “eBay for gamers.” In doing so, they can unlock the value of these assets within today’s closed gaming ecosystem.

Since launching in 2015, Gameflip has amassed six million gamers to its community. And the Gameflip app has been downloaded three million times.

There are more than forty million listings on its platform, and Gameflip’s marketplace has facilitated more than $140 million worth of transactions. Notably, the company has raised more than ten million dollars from professional investors, including Bullpen Capital, GoAhead Ventures, PlayNext, and LightBank.

Gameflip works like most other digital marketplaces. Users simply download the Gameflip app and sort through assets listed under categories like “Game Items,” and “Games.” There are even digital gift cards that can be used for individual games, as well as at retail stores like Target and Amazon.

Assets might include things like gems or tools used in various video games. Other assets might be credits a player can put toward purchasing additional items.

Gameflip generates revenue from buyers and sellers for each completed transaction. This includes collecting a buyer purchase fee of up to four percent, a seller sales commission of ten percent, and a seller cashout fee — i.e., when a seller withdraws funds out of his or her account, they’re charged a fee — of between one and two percent.

Recently, Gameflip appeared on Product Hunt, a website that showcases innovative technology products and services. The company was voted a top resource by Product Hunt’s community of experts, joining the ranks of successful businesses like Slack and Robinhood.

In 2022, Gameflip created Gameflip Omni, a digital storefront that expands on the idea of safe, seamless gaming transactions. But where as Gameflip’s original market facilitates transactions between consumers, Gameflip Omni connects consumers with gaming businesses.

Essentially, this storefront enables gaming brands, developers, and “influencers” to create, market, and sell digital gaming collectables and purchases to gamers.

There’s even talk of Gameflip creating a white-label solution — a white-label service is produced by one company and used by others under their own brand name — which will include features like account management, digital wallets, payment solutions, and fraud-detection systems.

Team Background

JT Nguyen - Co-Founder & CEO

JT has twenty years of experience building, scaling, and managing businesses, including more than a decade in the gaming industry.

He was Chief Operating Officer of Aeria Games, the games-publishing business that was eventually acquired. Under his leadership, Aeria grew to more than 300 employees and surpassed $120 million in annual revenue.

Earlier in his career, he was an operations consultant with HSBC, a financial services company. Before that, he worked in business management with Honeywell, a manufacturing company.

JT holds a Bachelor’s degree in Engineering from the University of Illinois, a Master’s degree in Electrical Engineering from Stanford, and an MBA from UCLA.

Terry Ngo - Co-Founder & CTO

Terry has an extensive background in software and product development. Like JT, he’s spent
more than a decade in the gaming industry, including leading the charge at Aeria Games, the
games publishing business.

Prior to starting Aeria Games, he was a senior software engineer with Good Technology, a tech
company that was sold to Motorola. Before that, he held the same position with Open Harbor, a logistics company that was acquired by TradeBeam Holdings, a provider of trade management
software.

Terry began his career as a software engineer with Bluedog, a tech company. Before that, he was an application developer with STMicroelectronics, a semiconductor manufacturing business.

He earned Bachelor’s degrees in Computer Engineering and Mathematics from Southern Methodist University and a Master’s degree in Electrical Engineering from Stanford.

Matheus Arnellas - Head of Operations

Matheus has more than a decade of gaming industry experience, and has been with Gameflip since its inception.

Previously, he was Head of Operations with AdvanceClub, an entertainment company focused on promoting up-and-coming electronic sports (“esports”) gamers. Prior to that, he was an operations manager with PlayNext, a video game developer.

He worked at PlayNext after spending time as a digital product and marketing manager with Electronic Arts, a sports-focused video game developer. Before that, he worked with JT and Terry at Aeria Games, serving as a producer and business analyst.

Matheus began his career in sales, working in the pharmaceutical and health tech markets. He holds a Bachelor’s degree in Marketing & Advertising from Pontificia Universidade in Brazil and an MBA from Instituicao de Ensino, also in Brazil.

Steve Caracappa - Marketing Manager

Steve has more than fifteen years of gaming industry experience, including at top gaming brands Sony, Microsoft, and NetherRealm Studios.

He began his career as a video-game tester with Sony, before becoming an analyst with Namco Bandai Games America, the company behind video game franchises “PAC-MAN” and “Soulcalibur.”

He then joined Aeria Games, where he worked as a game tester and marketing associate. From there he joined Outspark, another gaming company, as a game tester.

More recently, Steve was a supervisor with Mind Candy, an entertainment company creating products ranging from trading cards to books to digital items. Then he was a project manager with ModSquad, an IT services company. Before joining Gameflip, he was a marketing associate with AdvanceClub, the esports-focused entertainment company.

He studied Liberal Arts at De Anza College.

Co-Investors

Bullpen Capital

A VC firm that’s invested in successful early-stage companies including FanDuel, Life360, and Mango Health.

GoAhead Ventures

A Silicon Valley-based VC fund with nearly a half-dozen investments into the gaming industry.

PlayNext

A Japanese venture company focused on investments in the mobile game development space.

LightBank

A VC fund started by the co-founder of Groupon.