The decentralized eSports start-up has successfully completed its ICO, and the platform is slated for a March 2019 launch.

Successful ICO in a bearish market

Plair, a blockchain start-up that intends to build a decentralized gaming eco-system, has completed its Initial Coin Offering (ICO) raising $22 Million. The public sale of the Plair token with ticker PLA was launched at the end of October.

The news was reported earlier on Sunday by Sludgefeed. Plair had on Friday on its official Twitter account posted:

Today at 5:35 AM EST Plair has officially sold out and completed its sale and has distributed tokens. We humbly thank everyone for taking the 1st steps with us in our journey to build the best gaming platform in the industry and to make blockchain adoptable to everyone.

Given that the public sale took place during a period when the cryptocurrency market has seen further downward momentum, the ICO seems to have had a decent run.

What is Plair?

The firm plans to create a gaming eco-system by combining the features of established gaming platforms like Discord, Twitch, and Steam. The platform will reward gamers and gaming fans for playing, creating content, viewing and social interaction.

The platform is expected to launch in March next year and will also enable users of the system to build decentralized gaming apps using the blockchain based infrastructure.

Plair will support team-based tournaments for popular games which will be fuelled by the native PLA tokens.

It is reported that Plair has recently partnered with Bitrep, a platform that connects brands to content creators.

The First VeChain Based ICO

Plair is the first ICO on the VeChain (VET) blockchain. VeChain is an enterprise level public blockchain. The platform aims to connect blockchain technology to the real world. The VeChain platform claims to have in place a comprehensive governance structure.

At the time of writing, VET commands a market cap of over $295 million and has taken a plunge of nearly 14% in the last 24 hours. The cryptocurrency currently occupies the 23rd place on CoinMarketCap.

The entire cryptocurrency market has witnessed a bloodbath since yesterday with BTC falling below the $5000 level first time in over 13 months.

Plair’s successful ICO does come as a positive development amidst the crypto civil war triggered by the hard fork of Bitcoin cash.

Do you think that eSports is a good use-case for blockchain technology? Let us know in the comments below.

Images courtesy of Plair