Peerplays is a completely decentralized and provably fair wagering platform, and the first applications are planning to be live before the end of the summer.
Peerplays is built using the same underlying Graphene based blockchain technology that Steem, BitShares, and Decent utilize, and could solve the real world problems involved with wagering online. The Peerplays platform and network have been under development for significant periods of time, and the PBSA team has shown that they don't release before they gain full confidence in the network/application. The Peerplays network also utilizes a distribution structure that could be compared to 'dividends' , through distributing the fees accumulated by the network back to the stakeholders. The incentives for all parties to act in the best interest of the platform seem to be abundant, and combining those incentives with the underlying efficiency and capabilities of Grpahene blockchains could lead to Peerplays receiving more interest and investment in the near future.
The Steemit platform does an excellent job at aligning stakeholders best interests with the best interests of the platform, and Peerplays could likely prove to do the same exact thing for a different use case. The online wagering and gambling market exceeds 100s of billions of dollars per year, and utilizing Bitcoin and other crytocurrencies as a medium of exchange on these platform has been common for years now. Many of these active users who utilize centralized gaming platforms to wager using cryptocurrency would likely be open to the idea of migrating to a completely decentralized platform, and would likely have more experience than most individuals regarding cryptocurrency. Due to the fact that many individuals who engage in online gambling or wagering likely are more exposed to cryptocurrencies compared to the average individuals, they would be significantly more likely to consider migrating to the Peerplays platform.
The Peerplays GUI wallet is extremely user friendly, and an individual would likely not even realize they were interacting with a blockchain network directly based on the interface. If an individual or investor is interested in learning more about how the platform actually works they can read through copious resources on the Peerplays website or Github, but for users who simply want to use a wagering application on the platform can easily and quickly download the wallet and begin using the platform. While there are currently no applications for the platform, the first application called "Eight", which will enable live wagering using cryptocurrency on a variety of different games. Peerplays tokens (PPY) are listed on several exchanges, the biggest of which is Livecoin, where trading is currently taking place at the price level of $8.16. I believe that this is significantly undervalued based on the low total supply of PPY tokens, as well as the release of the first applications on the network in the upcoming months.
While price level can often be a good indicator of interest, the total supply of tokens is often much more important.
Peerplays can have a maximum total supply of under 15 million total tokens, but the amount of circulating tokens is much smaller than that. This is drastically lower than the maximum supply of other Grpahene based tokens such as Steem with a total supply of just over 250 million tokens, and Bitshares with a maximum supply that could reach 3 billion tokens. There are advantages to both having a larger supply of tokens and of having a smaller supply of tokens, but having a lower token supply will undoubtedly lead to tokens achieving higher price levels. The PPY tokens haven't been listed by any 'major' exchanges as of now, but the tokens will undoubtedly be listed in the near future as increased interest and investment comes to the Peerplays platform. Even just the process of being listed on a major exchange will drive up interest, investment, and token price, and that seems very likely for the Peerplays tokens in the near future.
To put the lower total token supply in perspective even if Peerplays had a total supply of 15 million tokens, if Peerplays was able to achieve a market capitalization that is equivalent to Steem's, then the price of PPY tokens would be nearly 24 USD. I am not attempting to give anyone investment advice in this post, but I believe that Peerplays tokens are one of the most lucrative and promising positions in the current market. Peerplays and the development team behind it have very serious goals in which they want to achieve over the following months, and has set a realistic and achievable roadmap in my opinion. Instead of releasing numerous applications at the same time, the team will give witnesses and testers sufficient time to test the applications to ensure they are ready for deployment. As the Peerplays platform is able to present more and more applications and platforms for users to utilize, the amount of PPY tokens that will be demanded for current use cases will likely cause a different type of demand compared to most of the tokens purchased and traded in the cryptocurrency market.
While the circulating and total supply of tokens can be very good indicators of the price that the tokens may be able to achieve, the demand for the tokens for present day use on the platform is still relatively rare within the cryptocurrency community. While the circulating supply of Peerplays may be 5 million currently, that in no way correlates to the aspect that there would be 5 million PPY tokens avalable for trading or purchase. I believe that many users and investors will choose to hold their positions and stake for significant periods of time before sale, so the actual supply of tokens that would be available for purchase at a specific price level would be much smaller that the 'liquid' supply. As the price level increases more individuals will obviously be willing to sell portions of their holdings, but the demand for tokens based in the desire to use the tokens on their respective platforms immediately is still very rare in the cryptocurrency market.
Due to the fact that individuals will be able to utilize their PPY tokens on the Peerplays network, the demand for tokens will likely outweigh the supply of tokens that individuals are willing to sell at low price levels. The plans that PBSA has to unveil in the future are revolutionary, including an official mobile app that users can use to interact with the network and its applications. The introduction of "Bookie" which will serve as a sports wagering application can give long time sports betters the ability to wager without having to loose 10% of their winnings to the 'house', and could bring a whole new level of transparency to the industry as a whole. So many individuals can receive benefits through utilization of the Peerplays platform, and I think it will be one of the leading projects within the cryptocurrency project over the following months.
The Peerplays platform will prove to have abundant use cases for a variety of different industries and individuals.
Peerplays actually utilizes the concept of User issued Assets from Bitshares, and allows individuals to have the ability to create and distribute their very own user issued tokens and assets. This is a concept that have abundant use cases for everyone from individuals wishing to gain funding for a new business or project, to those who wish to distribute assets that represent entitlement to some action, such as Whaleshares. Peerplays will also have the ability to operate an 'exchange' similar to the exchanges provided on other Graphene blockchains such as the internal market on Steemit or Bitshares. Peerplays will offer the ability for users to easily create their own tournaments and events, and users will also have the ability to easily incorporate Peerplays into their sites or platforms.
Peerplays will serve to be an extremely cutting edge platform for individuals to conduct provably fair wagering and gaming, and will align the incentives of all participants and stakeholders at the same time. Aligning incentives is one of the most difficult and important aspects of a successful decentralized platform, and Peerplays is showing that it has serious potential to achieve this goal successfully. I urge you to look into Peerplays if you haven't already, and please consider giving cryptofreedom-witness your votes! I am interested in the long term success and adoption of the Peerplays platform, and attempt to promote that goal in any way that I can.
If you are interested in more information regarding Peerplays please check out the Peerplays website here, the github here, and the White Paper here. Please note I found many contradicting results in the search of the Peerplays total supply, so please take the exact numbers with a grain of salt.
I really hope that you enjoyed this post, and as always I urge you to leave any comments, questions, opinions, ect. in the comments below. Thanks for the support and for reading!