Summary
First of all I want to thank all the fanatical community members that have supported Plair through thick and thin these last few years. As most of you that have followed Plair over the last few years know, our intention originally was to build an esports gaming platform that had an all encompassing ecosystem. We learned over the years that this was difficult especially with the deep bear market of 2018 where the interest in crypto waned away in general. Esports generally is a very hard genre to take on.
You can look at the rest of the market in blockchain gaming projects compared to say the traditional world. Even the traditional world has difficulties with building successful gaming companies as the gaming world is dominated by major publishers like Blizzard, Tencent etc.
The end of 2019 crypto started getting exciting again and we flew through 2020 during covid. Covid has been a nasty globally but it has been exciting 2020 for the crypto world with VeChain soaring, Bitcoin and Ethereum hitting new all time highs. It turned out that this was the biggest bull market yet!
Current Market Trends
For those of you reading this, you may have noticed that the over crypto market has completely switched into Decentralized Finance (DeFi) and Digital Collectibles. I know this as I have been dabbling in DeFi projects for fun and investments. I even bought a few NFT’s myself. I have found this space very interesting and realized that projects in the blockchain space need to be done within the blockchain space. Disrupting huge markets is a dream of ours but we all need to start somewhere and that somewhere is usually where the crypto market is trending.
The NFT market has been super hot digital pieces such as CryptoPunks. The NFT market has been able to give creators a medium to showcase their art and a place to sell their digital art to earn money. We have seen digital art in the past few month sells for record prices. Some in the $1M+ range.
DeFi has also been one of the biggest boosters of crypto in the history of crypto! There is finally a solid use case. Finally after all these years products were created to generate instant new wealth for individuals simply by holding crypto. I am not just talking about speculation value on long hodl but real money generation on interest of your stake long hodl. It’s amazing what DeFi has done in less then a year what banks have taken 100’s and still have not figured out how to reward their customers. DeFi reward and transfer mechanisms have been faster and better and more rewarding.
I collected stamps, baseball/basketball cards growing up and felt immense pleasure knowing that these things had value. After all they were simply a photo on a piece of cardboard. Now we are in the digital age of crypto which makes it all more exciting knowing that the digital collectibles can have a global reach.
We see a lot of long term potential within the NFT market.
With that being said in order to succeed in crypto you have to be crypto.
Plair’s Pivot in Direction
Plair has decided to drop the esports tournament platform we have been developing as interest waned on this and it was simply too hard to work with large gaming publishers. We ran into wall after wall after wall.
The current state of the crypto market has driven towards the DeFi and NFT space. Hence we have decided to dive head first into the NFT market. We believe the gaming space is still very hot and marrying NFT’s with Gaming makes sense. We will no longer focus on esports but more of the fun nature of gaming and digital collectibles
We are planning and building a new auction style incubator for the NFT space. This will allow new artists as well as current ones to be able to auction off their NFT art to our community members. Our low hanging fruit will be to start with Anime/Gaming space. We have already signed partners that have access to gaming/anime/toy intellectual property rights (IP). This will allow us to work with officially sanctioned NFT collectibles which I believe makes the space very interesting. Imagine being able to collect a Deer Chan Pandacute trading card or even as a hypothetical example, Dragonball Z NFT collectible.
We will work with companies to help develop NFT collectibles that can be put up for auction on our platform and traded on other marketplaces such as opensea and raribles with the creators continuing to collect platform profits as the creator of such NFT’s from marketplaces.
Collateralized Lending with NFT’s
Plair believes in the value of digital collectibles so much that we will be exploring partnerships with lending and borrowing platforms to collateralized digital collectibles. This will help marry NFT’s with DeFi and will give NFT owners a chance to gain liquidity form their collectible. We believe this to be extremely interesting as a way to change the economy of collectibles not simply from a buying and selling aspect but as an automated way to drive financial leverage off a tangible asset. This is the DeFi implementation portion for NFT’s
Multi-Chain Tech
Working outside the VeChain ecosystem while being in it has always been one of the priorities we have had for Plair. We believe going with mulit-chain accessibility is the best way to expand an ecosystem by bringing more eyes on to Plair.
We then issue the NFT’s onto ERC-20 or Binance Smart Chain for instance which would give wider access and reach for Plair all while the VET version of PLA continues to live on inside the Plair ecosystem.
We will have a few followup articles showing design and UI/UX on the new platform over the next weeks just to see the direction we are moving in.
Plair Token Usage
Plair token will be used as a reward token to be the first to gain access to exclusive goods. We plan to have 3–4 Tiers in terms of what kind of NFT’s can be purchased. These will require the staking of Plair to reach certain tiers. The staking tiers will give access to special crossover digital collectibles that are tied to an IP like say Power Rangers or Avengers for example.
A portion of our crypto profits will be used to do token buyback of Plair on the open market. We are considering either a burn structure or a reward structure back to our stakers.
An example is if you are staker of PLA we would reward you by with certain percentages depending on what tier of staker you are on a daily time lock. we want to incentivize the holding of PLA so that it is used in the ecosystem.
We may also do a hybrid model where a portion gets burned and a portion get sent back as rewards over a time lock period.
We will speak to the community and get their opinion about this and a proper vote in the spirit of decentralization.
Issuing a 2nd Governance Token (Considering)
We are looking to issue a secondary governance token that will be in extremely small quantity (less than 1M Tokens) 80% of it will be locked into reserve which will be unlocked but a consensus vote of which 50% of the TOP 20 wallets must vote to unlock the reserve.
20% of the token supply will be unlocked. The purpose of these tokens is to allow for the voting rights of the platform and rewarding the users for interactions with the Plair platform. The more you interact the more rights you have to control certain parts of the platform.
Partnerships
We have new partners that are game publishers that have access to some of the larger IP’s across Asia. This will allow Plair to also generate interesting digital collectible pieces that we can sell for revenue across our platform as well as other platforms as well.
We believe that doing IP related art on outside is a good way to go. We believe branded digital collectibles are more interesting as they are more rare in terms of access and the ability to be able to negotiate the usage of the IP itself is very valuable. We can see this in NBA Topshot and Street Fighter as well. Both immensely popular in their own rights.
Plair believe that the NFT marketplace platforms are pretty saturated and there is no reason to get into this. We can take advantage of these marketplaces by allowing users to Mint, Auction off and become an incubated artist to give them jumpstart into the Digital Collectibles world and have the listed in 3rd party NFT marketplaces.
We will make these announcements as we get closer to generating our first NFT’s
Development
Once we sign IP’s and issue cool branded digital collectibles we will immediately start listing these on other marketplace sites. This will allow us to get Plair’s name out as a content creator first and foremost. This will bring fresh eye to Plair’s NFT platform when it’s launched.
Currently we are developing the NFT auction market as Phase 1. Phase 2 will be incubation for our VIP PLA stakers.
Team
Over the last year we have had our struggles with the team. We have been in process of overhauling and getting new developers in place. We have replaced our entire development team and have started with a fresh start. Our Team is light and nimble now as we have trimmed most of the fat that plagued us before. Developing will take time as most developers need to learn the VeChain ecosystem as well as the new product scope.
Our team currently consists of 2.4 Devs, 1 Content, 1 UX/UI, Myself and a marketing manager. I am a man of many hats and working on putting the team together while doing business development. We will continue to expand the team as we feel fit.
We will issue a new roadmap, lite paper and website once we clear up some of the ideas we have on paper.
As i mentioned some things are in motion already and something are still concepts and ideas. But I am excited by the new direction Plair is headed in! We believe this space is much wider to work in as we can expand beyond gaming very easily.
Thank you for reading and supporting us all these years. We will send more updates out as we get them. In a few weeks we will send out some screenshot of the new UI/UX being developed for Plair’s NFT platform.
You Humble Servant Patrick Tang
Plair (PLA) is built on VeChainThor, a public blockchain which uses VeChainThor Energy (VTHO) to power transactions and smart contracts. Plair (PLA) is used as a utility token and store of value with our partners to power the Plair platform.
VeChainThor is a public blockchain designed for mass adoption of blockchain technology by businesses of all sizes. This will serve as the foundation for Plair’s sustainable and scalable business blockchain ecosystem.
If you have any business ideas, in terms of our future development or possible partnership, do not hesitate to share your thought via support@plair.gg. Our goal is to build this for you, with you, and never against you.
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