DAO PlayMarket 2.0 Launches ICO to Create a Decentralized Store for Android Apps

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by Polina Chernykh · 3 min read
DAO PlayMarket 2.0 Launches ICO to Create a Decentralized Store for Android Apps
Photo: Jan Das / Flickr

Owing to the high usage of Android-based devices globally, the startup developed a new decentralized platform beneficial both to developers and users.

Android is the world’s most popular mobile platform boasting more than 2 billion users worldwide. Today, Google Play is the largest store for Android apps, driven by the rising number of apps based on the operating system.

Although the mobile app keeps growing in popularity, it presents some important drawbacks for ordinary users and developers. Some apps are available only in permitted countries and thus cannot be downloaded by citizens of specific regions. Additionally, the platform charges a 30% transaction fee, discouraging developers from using the service.

DAO PlayMarket 2.0 is a new decentralized Android application store that promises to solve these problems. The project is aimed at building a decentralized system that will allow developers raise funds for their apps by issuing tokens and selling them through Initial Coin Offerings. Created for developers, investors and users, PlayMarket 2.0 accepts payments in digital currency and is combined with an ICO platform for developers.

With DAO PlayMarket 2.0, users will be able to invest in the project they like using the digital currency. Besides, they will get an access to all applications regardless of the country they live in.

The main benefits for developers include: the ability to issue their own tokens, sell their apps in exchange for virtual currency, and use effective tools to promote their app. Income from sales of an app and its content will be paid to a developer for a fixed period under a concluded smart contract. Unlike Google Play, DAO PlayMarket 2.0 has a 1% fee collected by the node as a reward for financial transactions.

Currently, the DAO PlayMarket 2.0 team cooperates with 185 development teams and has more than a million contacts with private developers.

On Wednesday, November 8, the team launched an ICO to raise funds for the project’s marketing campaign. Investors taking part in the ICO will automatically become co-owners of the DAO PlayMarket Foundation (PMF) token platform. One of the fund’s functions is to manage fund’s resources together with other members of DAO PlayMarket 2.0.

In addition to a dividend income, contributors will be able to earn additional money by performing certain actions within the app. The platform includes a 5% fee from the launch of tokens that will be instantly sent to PlayMarket and divided among the fund owners in accordance with their token shares.

DAO PlayMarket 2.0 has already raised $350,000 from investors in a closed round of funding. The project’s advisors include Chinese crypto investor Chandler Guo, Blockchain Association of Canada’s Chairman, BC Blockchain Ecosystem Consortium’s director Mani Igar, leader of the Cyber Russia project Roman Povolotsky, founder of the Expert System comany Ilya Churakov, and founder of BitBaza, co-owner of the AK47pool pool Artem Zverev.

Once the store is launched, more than 500 Android apps will be available on the platform.

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