The world of blockchain technology and cryptocurrency is spawning many new projects which deserve some attention. The DAO, which is now the largest crowdfunding campaign in history, is looking to invest in some of these projects. Peerplays is one of the projects under consideration
Peerplays Considered By The DAO For Investment
Using open-source blockchain technology to ensure casino card games are provably fair is an attractive business model. Peerplays is a company providing exactly that service, as they want to eliminate fraud in the gambling industry. According to the information we have received, this industry sees players lose close to US$100m per year due to cheaters.
What makes Peerplays even more interesting is how the company labels itself as a DAC, rather than a DAO. This is due to Peerplays being a decentralized autonomous Co-op. By offering both stakeholder voting and distributing fees through an automated profit-sharing program, the company is making a name for itself.
But there is more, as the blockchain solutions consultant for Peerplays – called BunkerChain Labs – recently launched their public crowdfunding campaign. Moreover, they are offering 5% of their entire Peerplays stake to the DAO in exchange for investment.
BunkerChain Labs President Jonathan Baha’i told the media:
“Peerplays is a cousin to the DAO and has many shared interests. And since the DAO is built on Ethereum, and Peerplays will support Ethereum as a wagering instrument, it made a lot of sense for us to offer The DAO a stake in Peerplays.”
It is well worth nothing Peerplays developers have been working together with other DAOs in the past. Now that The DAO has concluded its crowdsale, the goal is to start funding other companies, whether they are now or established. Peerplays makes a compelling case for itself, and their full DAO proposal can be found here.
Source: Press Release Via Email
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