Loot Market

Buy and sell DOTA 2 items for real money

Reviews

Discussion

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Anton Sekatski@antonsekatski · Rethinker
We'd been working on similar service since mid of July 2015 - http://roshanpit.com/ Unfortunately, we can't truly compete with OPSkins and you guys because in our country it took us month and a half to open a company (week), open proper bank account (week) and PayPal Business account (month) and after that we found out that we can't accept any payments to our PayPal from foreign companies and also there are serious PayPal limitations (such as $6k limit... even on Business account which leads to additional 4% fee and currency exchange) so we can't connect Paymentwall or G2A Pay. Also, we'd lose almost 16% in currency exchange rates (very unstable like... bitcoin), services fees (3% + 1% + 4%) and special taxes on that kind of operations (6% + waiting for Foreign exchange controls) even before we're able to send payments to sellers :) After that, we tried to open companies in several countries but it takes 2-3 months, several business trips with complex visas systems (like the UK) and thousand of dollars to do this. Funny, but we're still waiting for answer letters, it's not so fast. So, now you have fewer companies to compete with :) Good luck!
Kevin Wimer
Maker
@kevinace · CEO of LootMarket.com
@antonsekatski Ah that's a shame. We like to see others in the space to help grow the size of the market. Your story makes me more appreciative of how (relatively) easy it is to get a business launched here in the North America.
Paul unr Morrison@iamunr · Web Developer, Loot Market
@antonsekatski Wow, that sounds exceptionally difficult. Really shows how much easier it was in North America to just start a business and begin accepting money. Hopefully your next endeavour goes better! :)
Anton Sekatski@antonsekatski · Rethinker
@iamunr North America, part of Europe and South America flourish in making quick businesses without any complications, yes. But I'm living right now in, like one book title says, "snowy version of Zimbabwe" and it took me almost 7 years to gather resources for immigration to North America and since my next project is also about eSports and it's news project, maybe we could become partners and not competitors :) Anyway, thanks man, appreciate this!
Anton Sekatski@antonsekatski · Rethinker
@kevinace wow, now that's a thought! You see, I didn't have a direct access to the North America culture, especially business culture, just only by using the Internet and indirect sources, but kinda love to gather any proper and reasonable information and different philosophies from many cultures. I always knew that people in some areas on this planet know something from the environment and society structure that could be hardly explained by words - especially about money, business, competition, etc. And today's thought is about "competitors might help growing the market", haven't thought about it that way. Thanks.
Karthik Varma@leovarmak · Programmer and Student
@antonsekatski What happened ? The site is not yet launched ?
Anton Sekatski@antonsekatski · Rethinker
@leovarmak Unfortunately, we were not able to solve all problems within our country, mostly legal, and it led to totally unprofitable business for us so we decided to shut it down.
Kevin Wimer
Maker
@kevinace · CEO of LootMarket.com
I'm incredibly proud of our team. We went from idea to heavy traction in just 4 short months. We are all avid gamers / eSports fans and love waking up every day to work on something we all love. We're thrilled to not only be building a successful business but also pumped to be able to help grow the gaming / eSports space as a whole.
Adam Besvinick
Hunter
@besvinick · VC at Anchorage Capital
Loot Market is smartly capitalizing on the fanaticism of eSports players while also recognizing the relative illiquidity in the DOTA 2 market, specifically
Matt Read@reado · Founder, SweetGif
Awesome work guys!
Kevin Wimer
Maker
@kevinace · CEO of LootMarket.com
@reado Thank you Matt!
Paul unr Morrison@iamunr · Web Developer, Loot Market
My baby is on Product Hunt! Been working heavily with @kevinace and a few other guys on Loot Market for a couple months now. It has improved continuously since launch, and we still have a ton more planned! If you have questions about the business side, Kevin is your guy. If you have some questions about the technical side of things, I can help answer that.