Peerplays presale: a decentralized tournament and gambling platform - Smith + Crown
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Peerplays presale: a decentralized tournament and gambling platform

Peerplays is holding a pre-sale for a decentralized tournament and gaming platform built on a graphene-based blockchain.

UPDATE: Peerplays has concluded its pre-sale early and raised approximately $600,000.

Peerplays is holding a presale from May 6 to July 1st, 2016–or until it sells 200,000 shares.

Peerplays is a decentralized tournament management and wagering platform built on the Bitshares blockchain. The platform will primarily support casino games, but their whitepaper explains that there is no “house” in Peerplays, but instead players are matched with other users for peer-to-peer gameplay through a series of smart contracts. These contracts escrow the funds wagered by each player and then release them to the winner after specific conditions within a game are met and verified.

The Bitshares blockchain, called Graphene, has achieved over 1000 transactions/second in stress tests in 2015 and Bitshares claims this can go to 100,000. This would allow millions of players to interact in near real time in a global decentralized casino.

How are funds collected?

The contributions (phrased as “donations”) will be held at peerplays.com. Tokens will be distributed on the Bitshares blockchain as User-Issued Assets. They will be tradeable on the Freedom Ledger.

Coin Distribution

A total of 1 million tokens were created. 200,000 will be sold in this presale. 500,000 will be kept in reserve for a second crowdsale one month before the launch. 100,000 for industry partnerships, 100,000 for software and business development, 50,000 for an on-chain reserve fund, and 50,000 for a BTS Sharedrop.

Escrow Service

Bunkerchain Labs Inc.

Rate

The first 100,000 will be sold at $2/token; the next 100,000 at $3/token. They will honor the BTC and BTS exchange rates at time of ‘donation.’

Project Valuation

If all tokens are sold at the floor price, the total peerplays market would be valued at approximately $2.5 million.

Currencies used

BTC and BitUSD (a Bitshares user-issued asset)

How do the coins or tokens work?

The tokens function as shares in the Peerplays network. Token holders will be able to participate in governance of the network, including voting for the nodes that will validate transactions. Another benefit is that they are entitled to a share of the fees the Peerplays will charge for those gaming on its platform.

What is the market for these coins?

The global market for online gaming is estimated at $35 billion and growing. If Peerplays can attract this, the fees could be substantial and token holders would be entitled to some of them.

How are they produced?

The team claims that there will only ever be $1 million tokens, that is, those already created on Bitshares.

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