Decentralized eSports Platform EloPlay to Hold a Token Sale on October 16

| Updated
by Andy Watson · 3 min read
Decentralized eSports Platform EloPlay to Hold a Token Sale on October 16
Photo: EloPlay / Twitter

eSports platform Eloplay will hold an ICO of its ELT tokens that enable the platform’s Smart Tournaments model, which allows players to organize decentralized prize pools.

Last week, EloPlay made a statement in connection with its intention to implement blockchain technology for the  Smart Tournaments to hold. It will make possible to arrange decentralized prize pools. The athletes of the future – cyberathletes – will obtain the more avalable version of eSports.

As Vitaly Balakhonov, CEO of Eloplay, informed: “In these tournaments, prize pools are funded by players or tournament organizers. Funds are gathered in EloPlay Tokens and the Smart Tournaments can be either player-organized or sponsored.”

The idea of the similar platform seemed needed to create after the first trial battles were successfully being carried out with the opponents chosen randomly.  That was exciting to watch first battles happening. The feedback from players encouraged much as well.

It’s interesting to note that EloPlay has already had 90,000 registered users. While being founded as a one-on-one gaming platform in the year 2015, there were 3,500 tournaments and 80,000 battles in such disciplines as League of Legends (LoL), Dota 2, Hearthstone, and Counter-Strike: Global Offensive (CS:GO).

The platform also seeks for partnership with the brands and organizations that could carry out the sponsored tournaments. Bancor, Wings and AdEx Network are the current platform’s partners. The new ElopPlay’s partner AdEx will allow the platform to build an ad module on a blockchain-sourced platform.

Note that with its 400 million people engaged and $696 million eSports is a honey pie for advertisers.  Moreover, its expected to get $1.5 billion by 2020.

The project will issue 480 million tokens with the maximum cap of the campaign being $12 million. 1 ETH will buy one 10,000 ELT tokens: they will be issued once ETH makes it to the smart contract. Thus, contributors will get their tokens immediately upon the purchase without waiting until the token sale finalizes.

The campaign will start on October 16th, 2017 at 12:00 am UTC. There is pleasant news for those who make their purchase during the first hour. They will be awarded  a 20% discount. It will then cut as follows: 15% for the whole campaign’s first day after the first hour of its duration; 10% for the first week; and 5% for the second week. After that, there are no bonuses to provide.

The funds will be distributed according to the following funds’ allocation plan: 15% for administrative expenses; 20% for the platform’s technical provision, and legal expenses; 25% for prize pools; and the remaining 40% will be put into marketing and promotion campaign needs.

Where to find ELT tokens? Look for them at the project’s website. The campaign will finalize on November 15th, 2017 at 12:00 am UTC, or when the maximum cap is reached, whichever occurs earlier.

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Andy Watson
Author Andy Watson

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