DreamPlay, which partnered with several pre-eminent entertainment corporations worldwide and sponsored by William Baobean，who led the angel investment in BitMEX in 2015, will reform the traditional online gaming industry by creating a cryptocurrency-only gaming platform based on smart contract technology.
(Photo taken in DreamPlay HK office, DreamPlay team members preparing for the press release due in Macau and Manila, Philippines)
Online Gaming – Uprising Lucrative Industry
“The traditional gaming industry needed a change and I’m confident we are going in the right direction.” Andrew Lim, CTO of DreamPlay said on the project launch meeting, that the company aims to build world’s first legally licensed online gaming platform using block chain technology.
Andrew Lim, one of the earliest Ethereum investor, as well as a blockchain specialist, had once talked about his idea with Ethereum co-founder Vitalik Buterin in 2016, back when DreamPlay was only an idea.
(Andrew Lim, the CTO of DreamPlay and Vitalik Buterin，the co-founder of Ethereum)
According to a report by MGM, top gaming companies reported a net profit of 9.2 billion USD in 2015, besides the traditional land-based entertainment companies, online gaming (includes such activities as poker, roulette or blackjack sports betting, bingo and lotteries) market reported high profit as well.
According to a data report by Statista, the size of online gaming market was 38 billion USD dollars, and will reach 52 billion in 2018, showing a strong annual growth rate more than 10%.
DreamPlay has partnership with entertainment companies based in Macau, Philippines, Korea and is negotiating potential cooperation with companies in Las Vegas. DreamPlay looks forward to a rapid grow with its rich resources in the industry.
Dustin Howe, CMO of Dreamplay said “the huge size of the market ensures great potential in expanding of the business to make more money “
Block chain Technology Improves the Old Way
Irrespective of the fast development of the online gaming industry, the two issues remain: “trust and payment”
- Players have to accept odds that benefits the dealer or the house, while it’s not uncommon for the house to control the results of a game.
- The fee for deposit and withdrawal is high while the speed is low. Moreover, the safety or the funds is not guaranteed, illegal online gaming platforms are highly likely to run away with players’ funds.
With block chain technology, the two lasting issues can finally be eradicated, as the decentralized ledger provides a way to solve the trust issues between players and the online gaming websites. Nothing can be erased or deleted once it’s recorded on the chain.
“Currently the most popular payout methods are credit cards refund and wire. They usually take at least 4-5 days to complete. If players can withdraw and deposit via cryptocurrencies, it will shorten the time taken to a few seconds or hours according to the specific coin used. Bear this in mind, we initiate the DreamPlay project to achieve our goal to reshape the industry.” said by Andrew.
DreamPlay: the First Licensed Gaming Platform On the Chain
To differentiate from all current so-called block chain based gaming projects, most importantly, DreamPlay Foundation holds a legitimate online gaming license accredited by Philippine Amusement and Gaming Corporation (PAGCOR), which is a 100 percent government-owned and controlled corporation under the Office of the President of the Republic of the Philippines. It’s also worth mentioning that, Philippines and Cambodia are the only two countries in Asia that license online gaming.
(photo of the Dreamplay official website)
Both players and traditional onsite entertainment companies can benefit from the partnership program. VIP Players of the DreamPlay Platform are also entitled with VIP services of our partnered Entertainment companies and vice versa; the DreamPlay Token can be exchanged real-time to the company chips.
“With the support of the Philippines government, we are going to get another license for establish a new cryptocurrency exchange”, mentioned by CMO Dustin Howe. “This will greatly help us expand our business horizon to ensure better service for our players and token holders”.
DreamPlay Platform has already partnered with the following prestigious entertainment companies: Sands Macao, Macao, one of the most famous luxury hotel and resort in Macau, China, operated by the Las Vegas Sands Corporation; Galaxy Macao, owned by Galaxy Entertainment Group (SEHK: 00027), has already made a starting effort to accept DPT as its circulation chips.
According to Dustin, further cooperation between DreamPlay and more onsite entertainment companies will be underway soon. The team plans to go to Korea, Philippines, and Los Angeles, USA to discuss potential cooperation in April.
The Only Token that Guarantees Strong Earning
William Baobean, General Partner at SOSV, who led the angel investment in BitMEX (one of the top 5 cryptocurrency exchange) in 2015, has been very optimistic of the DreamPlay project and explains the reason he advises and invested in the project.
“most blockchain projects right now, even those specialized in gaming, can not generate strong and robust earning as they mainly focused on develop the infrastructure of the eco system they want to build, while DreamPlay is different, it will first launch its own official gaming application to ensure the best interest of its token holders.” DreamPlay will launch its own official online gaming application in 2018 Q3, offering various traditional gaming choices such as sports betting, online lottery, slot game etc., guaranteeing positive cash inflows.
To benefit its token holders, DreamPlay team will use 30% of our profits to buy back DPT on the markets every quarter in order to strengthen DPT price. All buy-back transactions will be announced on the blockchain. Tokens bought back will be destroyed until there are only 100 MM DPT available, when the dividend payout plan will replace the repurchase plan.
“we both know about the enormous profits generated by online gaming industry, DreamPlay gives us a way to take a share of the cake and I believe this is an investment that will never lose money”, said by William Baobean.
According to the team’s whitepaper, DPT can be used to play on the following platform, including but not limit to: DreamPlay native online gaming platform, DreamPlay partnered onsite & online Entertainment companies, DreamPlay Platform Listed third party partners and Player-to-Player(P2P) Customized betting.
As told by Andrew, the DreamPlay CTO, the team will attend Satoshi’s Vision conference, the bitcoin cash conference, held in Tokyo Japan during March 23 – 25. Moreover, the official press release of DreamPlay launch will be held in Macau and Manila in late April, 2018.