The VeChainThor (VET) blockchain has launched its first ever ICO in the form of a decentralized gaming platform called Plair.
The new platform is aimed at gamers and designed to give credit to their interactions in the gaming community. Various activities like participation, performance and contribution are accounted for and then applied to a reward system.
Using the power of blockchain technology the developers of Plair have designed an economic rewards system that quantifies the value that gamers give back to the community. Plair Tokens (PLA), a crypto asset, are issued for elements of involvement including time, viewership, growth, and intellectual property.
The idea is to give gamers the opportunity to help create and contribute to an environment where they can sustain themselves and their online lives. The Plair Foundation will additionally facilitate events such as tournaments, tours, shows and product launches.
Plair believes that building sustainable and disruptive gaming ecosystems empowers its members by providing them the necessary means to earn from their gamer lifestyles.”
The initial development phase will focus on the three most common activities that gaming involves – talking about gaming, watching others game and participating in games. The platform will be designed to reward both the streamer and the viewer, bringing together the gaming and crypto communities.
Future developments include decentralized streaming, content management and cloud gaming solutions. A supplementary white paper will be released at the time with more details relating to the safeguarding of their respective intellectual property rights.
Patrick Tang, CEO of the Plair Foundation, praised the professional advice, resources and community backing that a technology like VeChain offers the project and voiced his excitement at their partnership.
The ICO will be hard capped at £30 million, with and the Plair Foundation pledge to raise 80% of tokens in VET. They will also hold any VET and only use it for funding should other financial resources run out.
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