The Phoenix Group Announces its iCash Cryptocurrency and Upcoming Social Gaming Site - FaceOff
Company also announces upcoming iCash Token Generation Event, which will fuel FaceOff's development on the blockchain
LAS VEGAS, Oct. 24, 2017 /PRNewswire/ -- Today, The Phoenix Group Ltd. officially announced the future launch of its social gaming site, FaceOff, which allows players to make peer-to-peer social challenges and win cash prizes based on the outcome of skill-based contests. Starting today, players can visit www.gofaceoff.com to register and learn more about this exciting new form of social gaming. In December, consumers will be able to challenge their friends in head-to-head match-ups featuring their favorite NFL, MLB, NHL, NBA, WNBA and MLS teams; the top UFC, Boxing and PGA players; and the hottest e-sports competitions.
In addition, the company announced the creation of iCash, a new Ethereum-based token, and its upcoming Token Generation Event (TGE) slated for December 2017. The tokens sold at the TGE will fuel the development of a blockchain-based version of FaceOff, which is expected to improve the security, scalability, and availability of the platform; reduce transaction times and fees; immutably record all transactions to prevent fraud; and better protect the privacy of its users. Those interested in learning more about iCash can read or download its white paper at www.icash.network.
According to a UN conference, the global sports betting market is worth up to $3 trillion, the vast majority of which is generated by illegal gambling, resulting in significant lost revenue for online gambling businesses. Similarly, e-sports (i.e., competitive video game) wagering is expected to double over the next three years, growing from nearly $700 million in 2017 to nearly $1.5 billion by 2020 -- much of which is unregulated.
"We believe there is a tremendous, untapped global market opportunity to provide a platform that allows for peer-to-peer sports and e-sports challenges," said FaceOff CEO Rich Roberts. "FaceOff is going to bring together communities of people who are passionate about their favorite sports or e-sports teams and players, with those who enjoy the social aspect of challenging friends and strangers in head-to-head competitions, and those who enjoy playing skill-based games to win cash prizes. Combined with the safety and security of cryptocurrencies and the blockchain, we envision FaceOff will become a top destination for sports fans and gamers alike."
With the launch of FaceOff and iCash, The Phoenix Group is well-positioned to become a global leader and pioneer in the future of blockchain-based wagering. In addition, the company possesses more than 50 global patents and trademarks, giving it a competitive market presence with the goal of empowering others in the blockchain community by protecting them and their activities with its intellectual property.
"FaceOff will be the first legal, IP-backed social gaming platform, enabling players to directly challenge others in predicting the outcome of any live event," said Will McDonough, co-founder of The Phoenix Group, owners of FaceOff and iCash. "Our experienced team and solid intellectual property bring a new level of capabilities to the emerging blockchain-based wagering market, as it continues to grow as a trusted platform for transactions and smart contracts."
About The Phoenix Group Ltd.
The Phoenix Group is a holding company for FaceOff, iCash, and other related blockchain-based businesses. The company anticipates that its experienced management team and intellectual property portfolio will position the company as a global leader in the future of blockchain-based wagering.
About iCash
iCash is an Ethereum-based token that fuels FaceOff challenges and opens the pathways to legalized blockchain-based wagering. For more information, please visit www.icash.network.
About FaceOff
FaceOff is the only social gaming site that allows users to pit their wits against their friends for the opportunity to participate in skill games for the chance to win real prizes. The company's patented, peer-to-peer gaming protocol allows people to stake virtual currency on verifiable events, beginning with sports and e-sports, but eventually expanding to any live event. For more information, please visit www.gofaceoff.com.
SOURCE The Phoenix Group Ltd.
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