The Russian gaming technology startup Playkey, which has asserted itself as notable player on the global cloud gaming scene, was born just five years ago out of a child’s dreams. Its founder, Egor Guriev, has been passionate about computer games since he was a schoolboy, when he saved on meals and textbooks to buy his favorite games and gaming hardware.
Cloud no longer the limit
But Playkey has undertaken to reach new goals. It is now introducing blockchain technology, bringing together gamers and cryptocurrency miners in a bid to create a decentralized gaming network.
In that environment, gamers will pay miners with Playkey’s tokens, PKTs, implemented on the Ethereum blockchain, for using their computer capacities.
When a sufficient number of miners are on board, gamers will be able to stream from a computer that is in their neighborhood. As a result, Playkey will be able to continue expansion without investing in physical server infrastructure.
To strike minds, the startup also announced that Oculus VR co-founder Dillon Seo joined the project as an advisor. Also joining the company as advisors have been David Carlson, CEO and founder of the biggest mining farm, GigaWatt; Michael Kim, CEO and founder of CoinInside, and former executive of Blizzard, Wargaming and Havok; and Ruben Godfrey, cofounder of the Blockchain Association of Ireland, Albert Castellana, board member of NEM, one of the largest cryptocurrencies for market capitalization.
After collecting some $4 million in a pre-ICO campaign, Playkey completed its ICO in November 2017. No less than 100 million tokens of Playkey’s proprietary crypto-currency (PKT) were released, 60% of which were available for sale.
According to the company, the amount came essentially from individual investors, but three investment funds — Uncharted Capital, Allrise and G2H2 Capital — also got involved, buying over $1 million dollars worth of tokens each.
Playkey raised nearly $11 million the crowdsale, pre-ICO and ICO both included. This amount was far from the initially considered $40-60 million target – but it is large enough to develop the new blockchain platform and accelerate international development, Playkey’s press service told us.