Blockchain-Based Streaming Platform Play2Live Fundraises $30 Million Through Token Sale

Play2LiveStreaming platform Play2Live uses a token called Level Up Coin (LUC), which can be “easily” converted to other cryptocurrencies or to fiat money through a special exchange service/API. During the course of a recent campaign, Play2Live achieved their hard-cap of sales, with a total supply of 1,308,800,000 LUC tokens, 62% of which were sold on the open market. Total funds raised have added up to $30 million.

The origin of the investors was distributed as follows: 18% of the involved funds came from China, 16% came from Vietnam, 15% came from South Korea and 8% came from Russia, the rest was contributed from other regions.

Earlier this year Play2Live (P2L) secured $16 million in private pre-sale. Following the results of a public pre-sale on January 26 – February 6, 2018, the Level Up Coin (LUC) tokens were sold at $18 million, while almost $2 million were raised in the first hour.

“We are super excited and happy with the results of the main token sale event! This is an outcome of a carefully executed day-to-day operating of the highly professional international team,” said Alexey Burdyko, CEO and Founder at Play2Live. “There is already a lot to be proud of: we held the world’s’ very first esports tournament in CS:GO with crypto prize pool – Play2Live CryptoMasters. Peer-to-peer CDN technology tested during the tournament allowed us to save up to 30% of traffic per separate stream. That means everyone, including the viewer, will be able to earn with us. Beta version with this monetization channel will already be available this summer, and our team is ready to deliver all the unique features that we’ve promised in our White Paper.”

Streaming Services

Founded in 2017, Play2Live aims to merge blockchain technology with streaming services. P2L will have 15 sources of revenue, which would be three times more compared to the streaming industry leaders. Streamers would be able to monetize their content in 11 ways versus 4-5 available on existing platforms. They can earn from the first stream, regardless of their audience size, as well as boost their audience via interactive tasks during the streams, betting service, enhanced chat communication, and other engaging activities.

Viewers will have 5 monetization tools – compared to zero elsewhere in the streaming industry, states Play2Live. They can earn by watching adverts, performing tasks set by streamers, voting for content, sharing their Internet bandwidth via peer-to-peer CDN.