The play-to-earn model is a new mainstream on the marketplace of blockchain games. Crypto enthusiasts are given ownership over in-game assets. Those who are active enough might make these assets more valuable in terms of the in-game economy. This model is beneficial for both sides of this business – players have the chance to increase the number of their assets by playing games and game providers may rely on active users to increase their value. Considering that, it was the right time for Fairspin to adopt a play-to-earn model to their platform. But it’s only a small part of what is coming.
Fairspin is the first known online casino that mixed blockchain and classic games. Unlike other gaming platforms, the team aimed to provide a well-known experience for players, while being financially transparent via a blockchain network. Now, as the blockchain casino has grown and evolved, it was decided to introduce even more opportunities.
It is worth mentioning that Fairspin has integrated a solution developed by a Trueplay platform, its long-time partner. Since early 2018, Trueplay has been developing a blockchain solution that could cover any needs for any online services that plan to enter the crypto market. So far, they have released all products needed to easily tokenize any online business. TFS token is an excellent example to showcase the technology behind Trueplay.
Fairspin owns a digital cryptocurrency called the TFS token. Currently, the token is released for a limited number of players in its beta version and goes under the name of TFSbeta. After the sale, the token will be listed at Uniswap, which means that every user will be provided with the possibility to obtain tokens of the first blockchain casino. The value of tokens is expected to increase, so early token holders have the upper hand and could potentially increase the value holdings over time. When TFS token sale is over, TFSbeta tokens will be simply converted to TFS tokens of ERC-20 standard for all users automatically.
A new thing about play-to-earn tokens
At Fairspin, users get tokens for playing, regardless of the outcome. For non-crypto users, it’s a much better offer than a regular cashback when players only receive a bonus for the bets they lost. As always with Fairspin, all bet results are recorded within the blockchain, which means players can be assured that they received the correct amount of tokens. But this tokenized cashback is not the only benefit here. More than that, TFS tokens are credited to accounts instantly, which is also not a thing for regular gaming platforms.
Holding as a new gaming experience
Using Trueplay blockchain solution, Fairspin also offers a Hold to Earn program — players can freeze their TFS tokens for a fixed period of time and get credited with extra tokens as a reward based on the number of participants, casino’s income, and the lock-up period.
It doesn’t matter what option you prefer – play to earn or hold to earn, as both could bring you significant profit since you enter the project at an early stage. So, whether you play or hold, you would get the reward multiplying your assets.
Fairspin is the first blockchain casino to have been fully tokenized and this should help boost the industry to new standards and serve as an example of successful business tokenization. The Fairspin team is getting ready to launch its token sale very soon, although the dates are not confirmed. All crypto enthusiasts can join their social media accounts to follow the news and take part in the upcoming AMA sessions on Telegram