PlayPad – IGO Platform for Metaverse and Gaming Projects

The project capitalizes on a growing GameFi industry by offering a launchpad tailored to some of the most popular products.

Introducing PlayPad

PlayPad is an Initial Game Offering (IGO) platform that has multi-chain capabilities. The platform focuses on providing a place for Virtual Reality (VR) games and Metaverse projects to hold their IGOs in a fully decentralized format. Essentially PlayPad serves as a launchpad that will help propel GameFi towards integrating Metaverse and VR concepts into a new landscape.

PlayPad is powered by the PPAD token, which will be used for participation in the IGOs the platform hosts. In the future PlayPad has planned expansions to become a full Decentralized Finance (DeFi) ecosystem, which will grant PPAD even further utility.

How It Works

PlayPad is essentially chain-agnostic; using Ethereum EVM support, PlayPad is able to host new projects regardless of what chain they are using to launch. In order to use the platform for an IGO, projects must pass due diligence requirements and be fully transparent, while investors need to pass a KYC requirement.

In order to participate in an IGO, investors need to be staking PPAD on PlayPad. While PPAD is a Binance Smart Chain (BSC) token, PPAD holders on any chain will be able to take part in the IGOs. Currently PlayPad supports BSC, HECO, Ethereum, and Matic, but more chains like Solana and Cardano will be added in the near future.

Advantages Over Other Launchpads

PlayPad has a unique DQ Allocation system that changes how their Tiers are set for IGOs. Rather than being determined only based on the amount a user has staked, PlayPad also takes the day the PPAD was staked into account as well. The formula is as follows: Amount Staked Times Days Staked = IGO join time. Full details regarding how IGO joining is handled can be found in the PlayPad pitch deck.

The benefits of this system are a reduction in post-IGO sale pressure, as well as an incentivization for PlayPad users to become long-term stakers. The system will encourage fair participation in IGOs instead of limiting participants based on only the amount they can stake.

Other Ecosystem Features

Beyond offering IGOs, PlayPad has a variety of other features that help distinguish it from other platforms. 

Paired Staking Pools

PlayPad is working on developing paired staking pools, where users will be able to deposit PPAD and receive partner project tokens as yield. These partner projects will be composed of NFT projects on BSC, with discussions already taking place between the teams. 

Burning Mechanism

PlayPad has a 7-day period on their staking and farming where users will be charged a 10% fee for withdrawing their tokens. These tokens will be accumulated by the platform and burned in 6-month intervals to help maintain inflation. This fee will also encourage users to stake for longer periods of time, warding against mass sell-offs.

Sell In-Game Assets as NFTs

PlayPad will allow developers on their launchpad to sell in-game assets as NFTs. This is highly beneficial for Metaverse projects which typically rely on a combination of gaming and NFTs and will encourage the development of the NFT gaming market.

Tokenomics

Token Ticker: PPAD

Total Supply: 100,000,000

Token Chain: Binance Smart Chain (BEP-20)

Distribution

Treasury: 14%

Marketing: 15%

Staking and Farming: 15%

Private Sale A: 7%

Private Sale B: 5%

Public Sale: 4%

Team: 10%

Liquidity: 5%

Seed: 5%

Advisors: 10%

Research and Development: 10%

For more details click here.

Concluding Thoughts

With a unique approach to IGO participation and a growing DeFi ecosystem, PlayPad is set to take advantage of the rising popularity of GameFi. Catering to the surging Metaverse and VR gaming industries, PlayPad offers a fresh take on a project launchpad. PlayPad is already listed on CoinMarketCap and CoinGecko ecosystems.

With a rewarding financial infrastructure for investors and developers alike plus an ambitious roadmap, PlayPad could be a fixture of the blockchain gaming industry for years to come.

For more information on PlayPad, visit the following links:

Application

Twitter

Telegram

Medium

Github

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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Source : bsc.news