ICO Status: Ended
Playkey is a cloud gaming proider which provides gamers with a reasonably-priced opportunity to play top rated games anytime and anywhere, using any device connected to Internet, without having to purchase a high-end PC or console.
The problem that Playkey is trying to solve, is the burden on gamers to keep their hardware up to date in order to enjoy a seamless playing experience with maximum performance and no crashes. It works by gamers launching a desktop application which connects them to a portal through which they can select the game they wish to play. The game is then streamed to their device via high-end nVidia servers, thus ensuring the gaming experience is top-notch.
The decentralised Playkey model involves miners who make their machines available to the network for processing power, gamers who access the network to play games, and the Playkey (PKT) token which is used by gamers to pay for the service (and in some cases the games themselves) while also being used to compensate miners.
Playkey is an existing business with an existing customer base registering millions of gameplays per month. Whilst this confirms the real world utility of the proposition, there are nay-sayers out there who feel it will only be attractive to a niche audience. For example, in this article from PC GamesN, the author compares the cost of the service to buying a high-end gaming rig outright suggesting that the value proposition isn’t strong enough.
Like other blockchain applications, the value of PKT tokens from an investment perspective will increase as the user base grows and the frequency of gaming increases. In their whitepaper, Playkey state the intent to release PKT tokens gradually over time in an effort to control the price – hopefully in an upward direction!
The Playkey team are a long established company with all the skills needed to make this ICO a success. In addition to the orginal team members, Playkey have also added Vladimir Kosov and Maksim Vladykin to the team – both of whom are dedicated Blockchain Smart Contract engineers with suitable qualifications and experience.
As an investor it is difficult to determine when a ‘long time to value’ with blockchain technology is a bad thing, or simply realistic! I think in the case of Playkey, it’s the latter. These guys have been in this business for 5 years now, so when they say it’s going to take a year to set things up and build the necessary base of miners, they’re probably right, and it’s probably better that they’re clear when setting that expectation for an ICO. As a result however, it is unlikley that we’ll see PKT tokens increase in value any time before 2019.
The Playkey starts on the 31st of October, 2017 and will run for 4 weeks with a total of 60,000,000 PKT tokens available. At the time of writing, the ICO sale makes PKT available at an exchange rate of 1 PKT / 0.005 ETH, making each PKT token worth $1.20; a price which feels little steep compared to other offerings.
The idea behind Playkey is cool. In fact, it was cool BEFORE they decided to go all blockchain and decentralised! The issues in terms of evaluating Playkey as an ICO investment though, are three fold:
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