San Francisco, Nov, 7th 2017: Today, MindSports IO, a decentralized intellectual gaming network is announcing the Token Presale of their Ethereum-based token, MIND commencing at 2PM UTC on November 17th 2017. Founder and CEO Island Kon, a World Chinese Chess Champion at the age of 15, sees a world where intellectual games are decentralized, engaged, and highly regarded.
At the same time, the company announces that Geoffrey Borg, CEO at Federal Chess Association (FIDE) and [Suspicious link removed]munity Advisor, Min Kim, ex-Tim Draper/Cryptonomos, are joining to advise the social gaming network for intellectual sports. Both will provide counsel on partnership, strategy, and business development.
The MindSports IO network will introduce a larger variety of intellectual sports than any traditional online platform. Every six months, token holders propose and vote for their favorite intellectual sports to be built and deployed next on the network. Four games are expected to be rolled out by 2019. Since its inception in April, MindSports IO has been developing a decentralized network for playing and creating rated online intellectual tournament for chess, draughts (checkers), xiangqi, bridge and go. The token is also used for network governance in case of game and network disputes. The serverless, IPFS and Blockchain-based architecture allow a robust and trustless environment, while the absence of a centralized server will reduce the costs necessary to maintain the system.
Hundreds of millions of players engage in intellectual games online. These players are currently spread among various traditional online services. Such services are expensive to maintain and usually support a very limited number of games and features.
“These traditional, server-based systems are not adequate to support this growing and vibrant community that has an expected market opportunity of over US$1.4 billion” says Island Kon, co-founder and CEO.
MindSports IO smart contracts are flexible and secure, allowing participants options for interacting with the blockchain. Players can place tokens in escrow before games commence, and the smart contract will automatically resolve and reward the winner at the end of the game. MindSports IO’s network will also support functionality for tournament play. Smart contracts will automatically distribute MIND tokens to tournament winners as well as provide the option for event sponsorships.
The presale begins November 17, 2017, at 2PM (UTC) with a 50% token bonus. The token presale will allow early community involvement in this project as well as provide funds for continued development. The official release of the MindSports IO platform is currently scheduled for the second quarter of 2018.
More details of this project can be found at the
website, or on their
whitepaper.
