Peerplays’ public crowdfund was successfully concluded on May 14, 2017 at 15:00 UTC. The ICO was initiated on February 26, 2017, 10:00 am, after its announcement following the establishment of a Canadian non-profit organization called the Peerplays Blockchain Standards Association (PBSA) for the purpose of promoting the Peerplays technology and to promote provably-fair gaming standards for the Peerplays Blockchain globally, in December last year. The crowdfund was conducted for the purpose of funding the PBSA for continued development and support of Peerplays.
950,000 PPY tokens were released over the course of the ICO which were distributed for the investors to invest in. For every PPY token held by the investors, they will be getting portions of other coins used for gambling on the system. With PPY tokens, investors hold shares of all casino games and coins used for playing.
The PBSA had already raised $4 mln in private donations even before the commencement of the ICO. This further testifies the amount of trust the partners have in the project.
On May 30, 2017, the Peerplays Blockchain is set to be launched and the PPY token holders can visit the official website to learn how to redeem their tokens. The launch of the Peerplays blockchain will benefit the investors as anyone holding PPY tokens will receive a portion of all fees and profits through the Peerplays Blockchain recurrently.
Last year, the announcement of development of Peeplays’ open-source fee sharing module had allowed for any Graphene-based Blockchain to distribute profits directly to its token holders. This had lead to seed donations of around $500,000 in the first round of Peerplays ICO.
All the donations are being held by an independent third-party trustee on behalf of PBSA. The donations are to be used to encourage and support the continued development of Peerplays.
Peerplays is the world’s first peer-to-peer betting platform built entirely on top of a live blockchain. Therefore, following the launch of the Peerplays Blockchain, players will be able to wager on games from anywhere in the world using the free downloadable app.
