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.
"The PlayChip is an ERC20 token designed to become the universal gaming token.
The PlayChip will serve at the core of an online gaming ecosystem that already consists of six platforms, with many more to come. The ecosystem supports a user base of over 500,000 people in over 70 different nations, and is on track to turn over a combined US$430m in 2018 alone.
After PlayUp, the primary operating partner of the PlayChip, rapidly grew their international user base it was clear that a global payment and rewards system was needed. DFS was rapidly leaving its local roots and become and international game of skill, and in order to capture and satisfy this global fanbase it became important to produce a currency in which all users could connect, compete and collect.
The PlayChip was developed in 2017 to provide such a system to players engaging in both free-to-play and pay-to-play competitions. PlayChips can currently be awarded, bet and accumulated on the PlayUp site where it is still currently in use. PlayChips can be redeemed in the PlayUp store for third party vouchers from affiliates such as Amazon and Mastercard.
Following decentralisation the PlayChip will become available to be converted into fiat or other cryptocurrencies. This is anticipated to rapidly increase user excitement and engagement with the ecosystem. Prize pool values can increase so more players can be rewarded, driving excitement and participation further. Users will have security, speed and control over their funds in a manner never seen before in the online gaming industry.
The PlayChip Foundation will continue to support the growth of the PlayChip economy. With the aim of becoming the universal gaming token, the growth of the ecosystem itself is seen to be as important, if not more so, than the value of the token."