eSports Platform EloPlay to Hold a Token Sale


eSports platform Eloplay will hold a token sale of its ELT tokens that enable the platform’s Smart Tournaments model, which allows players to organize decentralized prize pools. This makes eSports more accessible to future professional cyberathletes.

Notably, EloPlay has been active for two years, and already has 90,000 registered users. It was founded back in 2015 as a one-on-one gaming platform. Since then, 3,500 tournaments and 80,000 battles have been held in such disciplines as League of Legends (LoL), Dota 2, Hearthstone, and Counter-Strike: Global Offensive (CS:GO).

The platform is also focused on brands and organizations that could hold sponsored tournaments. Advertisers will also find it appealing as the eSports audience accounts for 400 million people in 2017 alone.

Earlier, the platform partnered with Bancor, Wings and AdEx Network.

The project will issue 480 million tokens with the maximum cap of the campaign being $12 million. 1 ETH will buy one 10,000 ELT tokens: they will be issued once ETH makes it to the smart contract. Thus, contributors will receive their tokens immediately upon the purchase, and won’t have to wait until the token sale is over.

The campaign will kick off October 16th, 2017 at 12:00 am UTC. For those who make their purchase during the first hour of the campaign, a 20% bonus is available. It will then decrease as follows: 15% for the rest of the campaign’s first day; 10% for the first week; and 5% for the second week. After that, no bonuses will be available.

The funds will be allocated as follows: 15% for administrative expenses (procurement of equipment, office rent etc.); 20% for the platform’s technical provision (servers, software, etc.) and legal expenses; 25% for prize pools; and the remaining 40% will be used for marketing and promotion purposes.

ELT tokens will be available at the project’s website. The campaign will end on November 15th, 2017 at 12:00 am UTC, or when the maximum cap is reached, whichever occurs earlier.