Universal Gaming Token PlayChip, has just announced that its combined user count has hit 1 million, a milestone they had initially forecasted surpassing in December.

The PlayChip Ecosystem’s one million users are located across over 70 countries, with particularly high traction in India, Australia, United Kingdom, and the USA. When the blockchain-enabled platform goes live on December 19, each of these users will be able to easily participate in seven different online gaming platforms that include sports betting, casino games, eSports and Daily Fantasy Sports.

The success of the PlayChip is indicative of a new trend of reverse ICOs in the cryptocurrency market. Reverse-ICOs refers to existing businesses who tokenize the economy of their user base, unlike traditional token offerings that generally lack a working product and users. Following the success of the Telegram ICO, the PlayChip represents one of the first in this new wave of reverse token offerings.

“PlayChip is truly a unique token offering because while others write white papers about potential audiences and hypothetical use cases, PlayChip is well positioned with a very active global audience on multiple platforms that are already part of the PlayChip family,” Luke Lombe, Head of Blockchain with PlayChip said.

“The team at PlayChip are thrilled about hitting the million-user mark earlier than expected, and we look forward to continued strong growth. We are in the middle of our pre-sale and very much focussed on delivering a quality product that surpasses the expectations of our loyal following.”

The seven gaming platforms in the PlayChip ecosystem include PlayUp, DraftStars, Betting.Club, ClassicBet, TopBetta, MadBookie, and 123Bet. All players will be able to seamlessly move between platforms via the integrated PlayWallet and instantly cash out via the PlayXchange. In FY2018, these platforms are on track to exceed a turnover of US$430 million.