Start-up sees revenues increase 210 percent with their digital ‘Skin’ marketplace

By providing gamers with a place for them to sell items they win while playing video games, SkinWallet saw turnover exceed 1 million PLN in March this year. SkinWallet

A Szczecin start-up has seen its revenues rocket with an online digital marketplace for gamers to trade skins (the appearance items they use during a game) which they have won while playing video games.

Created in November 2018, since December last year SkinWallet’s revenue has shot up 210 percent, with turnover exceeding 1 million PLN in March this year.

But the Szczecin lads behind the company, say the impressive results, rather than just a benefit from COVID-19 lockdown, come from their work on opening up new payment methods that are tailored to specific markets through QIWI, Yandex money and other more traditional companies such as Mastercard and Visa.

Dawid Chomicz (L) and Kornel Szwaja (R) say the impressive results, rather than just a benefit from COVID-19 lockdown, come from their work on opening up new payment methods.SkinWallet

Kornel Szwaja, CEO & Co-founder of SkinWallet, told TFN: “Our growth is a result of consistent execution of our strategy. We have been focused on growing in established markets by extending our brand presence, as well as introducing new payout methods for new markets we have introduced new game titles such as Dota2 and Team Fortress 2 to our portfolio.”  

Dawid Chomicz, CTO & Co-founder of SkinWallet, added: “The digital goods market for in-game assets is estimated to reach $50 billion by 2022, that interested us.

“It is a huge, fast growing opportunity that is connected with e-sports and we believe that, just like physical goods, in-game digital goods allow people to express themselves in the most unique ways.

“Our goal is to help every individual find the best way to represent themselves and show their unique personality.”

Skins are textures added to items that players use during games to help them win, such as a weapon, vehicle or the character itself. SkinWallet

The pair now plan to float on the New Connect market in H2 2020, less than two years after company was started, and the application will be submitted shortly.

In a market with no geographical restrictions that is growing constantly, SkinWallet says it is well placed to join the large number of successful gaming companies on Poland’s stock market.