Those who are fans of e-sports and online betting might be happy to know there is now a universal token for a diverse and growing ecosystem.
Like most things in the cryptosphere, attempts to disrupt industries are happening fast, although this story began in 2014.
Playchip has made waves with a 100% token only acquisition of a company that is the first of its kind. PlayChip acquires 123gaming through an unprecedented zero cash acquisition, the acquisition marks the first time an unlisted token has been used as full payment in the acquisition of a US-registered business.
PlayUp is a gaming company turned prominent player in the multi-billion-dollar fantasy sports market, and currently with an annual turnover of more than $430 million in 2018. They have made great strides with their online betting token PlayChip: a universal token for e-sports, gaming, fantasy sports and sports betting.
PlayChip is looking to decentralize and incentivize the global sports betting market, which according to the company’s white paper is a whopping estimated $3 trillion annual opportunity.
With an IPO coming in H1 2019 and listing on the NASDAQ and ASX big things are coming for the operational online betting platform.
Pain points aimed be solved by Playchip
While the company has identified several keys issues in the online betting industry, these two seem to be the most significant in expanding functionality and adoption in the space:
Lack of a universal payment system:
A global solution that allows online gaming platforms to load and cash out their gaming chips using a reliable and timely mechanism for transferring funds to their current location and local currency.
Payment Lag and Transactional Security:
Too many regulatory barriers currently delay users from accessing their winnings and technology has yet to provide a seamless fix. A lot of it has to do with know-your-customer (KYC) and Anti-money laundering (AML) regulations which can be a hard problem to overcome, even in the crypto space.
Eventually, holders of the PlayChip will be able to seamlessly and instantly transfer funds between the various partner and international exchanges. This will provide a degree of control and security in a manner not seen before in online gaming.
The PlayChip Ecosystem
The PlayChip ecosystem, which is fueled by the PlayChip (PLA) token, is comprised of fantasy sports and licensed online gambling establishments as well as a PlayWallet that is scheduled to be launched in November 2018.
Players:
Any individual with a smart device can access PlayChip services from around the globe. PlayChip with a user base of over 1 million from 70 nations, has particularly high traction in India, Australia, United Kingdom, and the USA.
Partner Gaming Platform:
Online gaming providers can integrate their services into the PlayChip ecosystem. PlayChip currently has multiple gaming platforms, including recent acquisition 123bet.
Global Crypto Exchanges:
Cryptocurrency exchange partners around the world will allow players and token holders to trade PlayChip tokens and convert them into local currency. With use of PlayXchange, users link to the PlayWallet and gives users the ability to trade the PlayChip tokens.
Team and Ambassadors
The PlayChip management team has four decades of combined experience across interactive gaming and global online businesses, with CEO Daniel Simic at the helm. They are expanding far and quickly with their offices across Sydney, London, New York and Hong Kong.
PlayChip has also engaged an established team of advisors including those from the sports and blockchain arenas. Some of their advisors include Major League Fantasy Founder Jesse Merle, as well as ‘Echelon One Founder’ Luke Lombe and IT Consultant Stephane Savanah, among others.
See more on https://www.playchip.global/#team
Growth Potential
• Daily fantasy sports (DFS) revenues are predicted to exceed US$14.4 billion by 2020 and online gambling growing at 10.81% CAGR and exceeding US$500 billion according the company’s white paper
• A current user base of more than 1M across 70 countries. The PlayChip ecosystem consists of Draftstars, ToppBetta, ClassicBet, MadBookie, betting.club, 123Gaming and of course PlayUp
• Recent acquisition of 123Gaming places PlayChip in a strategic move toward expansion of U.S. online gaming industry, which according to Statistics Portal saw revenue of 47B in 2017
• In the month of April 2018, SimilarWeb™ reported PlayUp in the top 10 most trafficked sports-related websites in India
https://www.playchip.global/#partners
What’s next
PlayChip has a great appeal, one whose beloved sports betters are sure to appreciate, particularly those in the blockchain community. Playchip have alot on the horizon including PlayUp Bet that offers wagering options on nine different sports, as well as the chance to bet on horse, greyhound and harness racing on more than 25 major racetracks around the globe. Many are also looking forward to a range of wagering options on the UFC and eSports of which will be included in subsequent updates.
Are you ready to PlayChip? Check out their website at https://www.playchip.global/.
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