Like this? Share it.

Seventh Continent Launches a Platform for Online Bitcoin Businesses, in Game Format

We are always on the lookout for innovate business platforms using Bitcoin, and this one grabbed our attention.

Seventh Continent calls itself a business platform, a market for trading digital products produced by virtual companies. Registered in the UK and founded by author Gregory Harmati, Ph.D., Seventh Continent employs a technical team in Budapest, Hungary and has been involved in the group Bitcoin Budapest.

The company has created a 24/7, online business exchange where privately owned virtual businesses trade digital commodities with each other. Modeled after popular game mechanics, the CEO is quick to assure users that Seventh Continent is not a gambling platform nor a ponzi scheme. He sees his company’s mission is to give online businesses more agility and liquidity in their trade.

“We hope to provide a brand new both lucrative and entertaining solution for Bitcoin owners with the intention to build a small economy,” said Gregory Harmati, CEO of Seventh Continent Ltd.

Seventh Continent is reminiscent of Second Life, a virtual world that was launched in 2001 and grew to a $500 million economy by 2009, enabling its “residents” to earn money by selling online wares. Can Seventh Continent achieve similar scale? Time will tell.

Interview with Seventh Continent CEO

We sat down with CEO Gregory Harmati for an exclusive interview to learn more about Seventh Continent.

On Bitcoin: Where did you get the inspiration for Seventh Continent?

Gregory Harmati: This is an idea I had many years ago. I wanted to create something new and different hence the idea of building a new continent; something that doesn’t exist yet. It was creation ex nihilo compared to developments that are ex materia today – the matter on what they build their platforms is of course Bitcoin. The year Bitcoin protocol was written we were already putting together our platform. Since my team is little and didn’t get proper funding it took us more time, couldn’t even finish the 3D world (80% ready) that comes with it.

On Bitcoin: What kind of businesses can be built on Seventh Continent? What services are you seeing sold for Bitcoin?

Gregory Harmati: We currently have 45 businesses users can choose from when registering a virtual company on Seventh Continent and will be growing along the way. These businesses produce goods and sell them to other virtual businesses they need these goods to be able to produce themselves their products and/or services. This creates an inherent economy in Bitcoin. A circle of production. From the oil refinery, restaurant, law firm, pharmaceutical factory, winery, private detective, car rental etc. to the mob we have many segments reflecting real life. These goods are digital products hence stored, delivered and used in electronic format having value in Bitcoin within this economy only. Users willing to make profit invest Bitcoin, start producing digital goods and are selling them to other users’ companies; this is how these digital products acquire a value expressed in Bitcoin the investment currency.

Pictured above, a screenshot of Seventh Continent.

These digital products are not electronic goods downloadable like an e-book, a software, or music. But since almost all of these digital products and services can be real why not making them real? Once users get used to trade these digital products on Seventh Continent Market why not offering the ability to them to sell real products also instead of selling only digital once? Let me give you an example. When you own a food company for instance on Seventh Continent you produce hamburgers, energy drinks etc. With the participation of brands (Red Bull, Coca-Cola, McDonald’s, etc) you will be selling branded products for extra profit. Of course you have the choice to do it or not, choose from a list of advertisers or even introduce your own brand. This would be the first step to make these digital goods real. The next step is evident: you will sell services and products for Bitcoin and deliver it in reality at your brick and mortar store or send it from your virtual store. Just imagine Avis renting cars, Gucci selling designer shoes, a law firm providing services you would pay on the Market of Seventh Continent directly in Bitcoin! Imagine yourself being a start-up or a little shop branding and selling your products and services for basically no direct costs, advertisement costs expressed in pennies! I believe in this next step but I also know this is for later.

For the time being opting for a particular business on the Seventh Continent Market is more a choice of opportunity rather than taste. You have to make a deliberate choice – and it is almost irrelevant which activity you chose since you have equal chances to succeed. Demand will justify your choice for a particular business. It is probably to your advantage to invest in a segment where goods are scarce. Therefore diversifying business portfolio is a wise choice. Invested capital can also be decisive hence each business require different funding – hints are provided by the Products and Services Chart on the Market. Nevertheless with a larger funding you can enter any business segments even a crowded one, upgrade your company (levels) and produce 10% more when stepping to next level for the same amount of resources used on previous one. Best way to swallow margins to increased sales.

Thanks to Gregory Harmati for his interview. Learn more at Seventh Continent.

Like this? Share it.