The first Russian cloud-based decentralized gaming platform Playkey has completed its ICO (Initial Coin Offering) campaign, earning over $10.5 million. During the course of the campaign 100,000,000 tokens of Playkey’s proprietary cryptocurrency (PKT) were released, 60% of which were available for sale. The amount earned was comprised primarily of private investments. Three investment funds—Uncharted Capital, Allrise, and G2H2 Capital— also bought over one million dollars worth of tokens apiece.
“Making over ten million dollars in a couple of months is a challenge, but it was also proof of the quality of our product and our company’s performance,” said Playkey CEO Egor Gurjev upon completion of the campaign. “During this time we participated in top blockchain conferences all over the world, from CoinAgenda Global in Las Vegas to the World Blockchain Forum in London, won Startup Sauna in Singapore, formalized a partnership with the South Korean Coinlink market, and obtained support from professionals from industries ranging from blockchain to VR. The money we earned will go toward developing Playkey’s P2P model and expanding into the American and Asian markets.”
Dillon Seo, founder of the artificial intelligence, machine learning, and virtual reality development company VoleR Creative, former top manager at Oculus VR: “Hence, when I met Egor from Playkey and listened to how he is planning to make the decentralized cloud gaming platform, I was immediately drawn by his idea and see how they are going to be implemented in reality and was happy to get a chance to get involved in his new venture.”
Playkey’s technology already allows players to run modern games on low-spec and outdated PCs and laptops. The launch of Playkey’s P2P platform in late 2018 will allow them to develop the project’s infrastructure—users’ computers all over the world will be added to their own servers as rented mini-servers. The currency used within the Playkey ecosystem will be PKT.
“In the long run, the value of Playkey Tokens will be determined by market forces. Needless to say, the Playkey Foundation will make its own corrections as the managing entity,” said CTO Alexey Lykov. “Within the framework of our business model we assume that the demand for PKT will increase over time. At first the tokens will be used to pay for playtime on the service, but eventually, they will also be used to make in-game purchases, etc. We’re going to motivate players to use PKT more often, and we are optimistic about the growth of the cryptocurrency’s value in the long term.”
Complete information about the Playkey ICO is available at the website https://playkey.io/
More than 2,5 million players per month use the Playkey cloud-based gaming platform. The platform uses more than 100 servers based on NVIDIA GRID, and they are located in London, Frankfurt, Amsterdam, and Moscow. Playkey has more than 45 R&D professionals on its staff, and partnership agreements have already been signed with gaming companies such as Ubisoft, Bethesda, and Wargaming. The Playkey project previously took in $2.8 million of investments from a large European venture-capital fund. For additional information, please visit playkey.io.