Platinum
PlayChip (PLA) ICO

PlayChip (PLA)
Verified ICO

The universal token set to disrupt the sports betting industry.

ICO Ended
2018-11-21 - 2018-11-28
  Whitepaper |   Visit Site
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ABOUT

PlayChip will deliver the worlds first fully-integrated, blockchain enabled global fantasy sports, online sports betting and gaming ecosystem. Underpinning its ecosystem, is the PlayChip Utility Token – a cryptocurrency built on the Ethereum blockchain, specifically designed for use as a universal payment and rewards system for gaming and wagering. The PlayChip will form the foundation to facilitate the decentralisation of our existing partner platforms and allow sports fans to connect, compete and collect, irrespective of their location.

Token Terms

PlayChip is currently planned to be deployed as an ERC20 token. Buyers over $25k will have all tokens beyond the first $25k worth vested for a period of 4 weeks per $25k

Cryptos Accepted – ETH, BTC

Point of Difference – The PlayChip is already partnered with over 500,000 existing users, 6 fantasy sports and sports betting platforms ready to integrate the PlayChip token we’re on track to deliver $430 Million in turnover within the first year of trading.

PLAYCHIP Details

SUMMARY OF THE PLAYCHIP TOKEN OFFERING

  • Token Sale Structure: Three Rounds: Private Seed, Pre-Sale, Public ICO
  • Pre-Sale Start Date: June 1st, 2018
  • Pre-Sale End Date: October 31st, 2018
  • Public Sale Start Date: November 21st, 2018
  • Public Sale End Date: November 28th, 2018
  • Price of PlayChip (PLA) Token: $0.01
  • Volume Bonus Offers: POA
  • Total Tokens Created: 50,000,000,000
  • ICO Soft Cap: $10,000,000
  • ICO Hard Cap: $90,000,000
  • PLA Token Distribution Date: December 19th, 2018

How many tokens will exist?
50,000,000

When is your token start and end date? 
Pre-ICO Start Date: June 1st.
Pre-ICO End Date: Oct. 31st.
ICO: Nov. 21st-28th.

How many coins / tokens are you selling?
12,500,000,000 PLA (hard cap)

Will more tokens be created after the token sale ends?
New tokens will not be issued and unsold ones will be sent to cold storage

Tell us about your token distribution structure (eg. 65% public (ICO) | 15% Founders)
25% ICO, 25% Foundation Treasury, 25% User Growth & Development, 15% Founders, Advisors, & Staff, 10% Bet Float.

What’s your token sale price in $USD?
$0.01

What are your token sales terms?
Customers must comply with KYC and AML requirements on the website before any purchases are made.

Fundraising Data

Token sale information.

  • Pre-ICO Stage 1: June 1st – July 5th – 30% bonus
  • Pre-ICO Stage 2: July 6th – July 31st – 25% bonus
  • Pre-ICO Stage 3: August 1st – 31st – 20% bonus
  • Pre-ICO Stage 4: September 1st – 30th – 15% bonus
  • Pre-ICO Stage 5: October 1st – 31st – 10% bonus
  • ICO – November 21st – 28th – up to 5% bonus depending on purchase size

Do you have any bonuses or investor discounts? If so, please tell us about your start bonus, max bonus, or any discounts (eg. investor discount of 50% or 10%)
Yes, please refer to our ICO page

How much has your ICO raised in $USD?
US$7.5 million in the Seed stage.

How much has your pre-ICO raised in $USD?
Only just started.

Token pre-sale information:
Pre-ICO price: $0.07
Pre-ICO min order: US$5,000
Pre-ICO max order: US$500,000

Token Distribution

  • Public Sale: 12,500,000,000 PLA, 25.00%
  • PlayChip Foundation: 12,500,000,000 PLA, 25.00%
  • Platform Growth and Community Development: 12,500,000,000 PLA, 25.00%
  • Operational Incentives: 7,500,000,000 PLA, 15.00%
  • PlayChip Bet Float: 5,000,000,000 PLA, 10.00%

Crowdsale Information

What’s your funding URL? (Only if applicable)
https://www.playchip.global

Provide any details (if relevant) to your crowdsale.
Pre-ICO commences June 1st to July 26, ICO August 8-9 2018

Is your ICO token currently being trading on any exchanges?
Negotiations and applications are underway with several exchanges listed in Australia and overseas. We will be listing on HitBTC and LAToken by August 26.

Information for Sophisticated Investors

What type of license will your intellectual property be protected under? (Eg. MIT, Apache 2.0, GNU 3.0 etc)

How will your token create value in the ecosystem?
The PlayChip will help grow the prize pool values in the PlayUp ecosystem, ensure the long-term sustainability of the PlayUp enterprise by migrating to a decentralized platform, and most importantly give its customers more control and faster access to their winnings

How does it differ from competing projects?
Because of the diverse nature of the PlayUp ecosystem and its ambitions as a company, the PlayChip will serve as the currency under each of the PlayUp platforms. As growth and acquisitions continue, the scope for use of the PlayChip will increase. The ERC-20 platform is an industry respected platform and will allow users access to many different compatible wallets and exchanges.

What’s your USP / value proposition? Tell me more about your project details and features. (Eg. Use case, problem, solution, how it works, the concept)

The Problem

At present, US$4 billion dollars run annually through online betting agencies and casinos. PlayUp is on track to clear $350 million of this in 2018. Every cent of this is subject to not only the terms and conditions of the bet but of every financial institution along the way that touches the transaction. With overseas betting markets and different international licensing models, this can not only impart huge fees to potential winnings but massive time constraints on the punter collecting their rewards.

By decentralizing the value of winnings with the blockchain, users of a sports betting site would have access to, and the ability to manage their funds in a way never seen before.

For example, withdrawing cash from an online betting agency will require them to release the funds themselves before sending to the bank. The bank, in turn, will then need to clear the funds before depositing them in your account.

This process in itself takes a minimum of one business day. Then consider that many online betting agencies will only process withdrawals in a certain time frame (often only until 2 pm on business days when banks will cease accepting them), as well as requiring a minimum amount for withdrawal. When factoring in the majority of betting contests occurring over the course of the weekend, punters may be waiting until mid-week to get access to their winnings. International transfers can add an extra 3-5 days on top of that.

The Solution

A blockchain-based payment solution not only removes the human error from the equation but eliminates one of the painstaking chain links in this outdated system.

On a crypto token based platform, users can seamlessly move funds internationally at the touch of a button for a handful of cents in transaction fees. Through cryptocurrency exchanges, punters have the opportunity to convert their winnings into other cryptocurrencies in next to no time at all.

In Australia, organisations such as Living Room of Satoshi offer fee-free bank transfers and BPAY payments, while CoinJar offers a Bitcoin-enabled debit card. Add the 20 live Bitcoin ATMs nationwide (expected to increase to 3000 by 2020) and the increased number of vendors accepting cryptocurrencies, the options for spending one’s winnings are dramatically increased.

The Company

PlayUp is a fully operational fantasy sports and sports betting company servicing a user base of over 500,000 across 70 different countries. PlayUp began in 2014 with high-profile investors such as Australian Prime Minister Malcolm Turnbull involved and has since partnered with the South Sydney Rabbitohs and made numerous acquisitions in the Fantasy Sports space, including Draftstars. PlayUp sees a huge annual turnover amongst its user base, expecting to surpass $350 million in 2018.

PlayUp sees an increase in user numbers by over 10,000 per week and is the 11th most trafficked sports-related website in India, ranking highest for time spent on site. Brett Lee serves as a brand ambassador and brings with him over four million Twitter followers.

Unlike many other companies competing for a slice of the flourishing blockchain industry, PlayUp is an existing business with a proven business model and a popular product behind it.

The PlayChip

The PlayChip (PLA) is an ERC-20 token built on the Ethereum blockchain. Currently holding a static value of US$0.01, the PlayChip is a rarity in the ICO world in that it is already in use, currently rewarding PlayUp’s plus 400,000 users with vouchers and redeemable debit cards in the PlayUp store.

At ICO the decentralized PlayChip will float at US$0.01, with value expected to increase through a demand from current users of the PlayUp ecosystem and cryptocurrency traders. Any inflation of value to the coin will serve to grow the value of the prize pools, further driving user demand and participation. This in turn will drive transactions of the PlayChip both on PlayUp and cryptocurrency exchanges, lending more exposure and credibility to the coin.

Who do you see as your main competitors? Please list them below:
Unikrn, FunFair, Betr, Wagerr

What are the main challenges your project will face in the next 1-3 years?
Potentially being required to build our own Main-net due to massive growth in the cryptocurrency market
Laws regarding online sports betting in the large markets of US, China and India

Tell us what you know about your target users?
Many of our users are brand new to cryptocurrency and require a will require a strong education focus. We hope to teach them of the benefits of blockchain technology so not only will they enthusiastically adopt the PlayChip, but foray into the world of cryptocurrency and learn more themselves. Equally, we are hoping that investors and traders who are already active in cryptocurrency will explore using our token themselves given its existing function and platform.

Do you have an API endpoint for token sale raises in real-time? (For displaying your info to sophisticated investors)
A progress chart of token sales is currently on the home page of our ICO

Is your token required for users to fill a specific role on the network? (Eg. Act as oracle, arbitrate disputes, validate accounts)
No.

Provide a long description of how you plan to address transparency.
We are no strangers to transparency. KYC and AML practices are long established in the online gaming industry. Our customers are required to be fully verified to participate in the PlayChip. Our entire strategy and roadmap are fully laid out on our website and in our Whitepaper. We are a fully transparent organisation and only seek to grow our company and the value of the PlayChip, in turn passing on these benefits to our user base.

Provide a long description describing your product.
The PlayChip (PLA) is an ERC-20 token built on the Ethereum blockchain. Currently holding a static value of US$0.01, the PlayChip is a rarity in the ICO world in that it is already in use, currently rewarding PlayUp’s 500,000 plus users with vouchers and redeemable debit cards in the PlayUp store.

The decentralized PlayChip will float at US$0.01, with the value expected to increase due to the demand from PlayUp’s current users, the PlayUp ecosystem, and cryptocurrency traders. Any rise in coin value and inflation will serve to grow the value of the prize pools, further driving user demand and participation. This, in turn, will drive transactions of the PlayChip both on PlayUp and cryptocurrency exchanges, lending more exposure and credibility to the coin.

 

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Token Symbol: PLA

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