Co-Creation: PlayMarket Aspires to be Nasdaq of Google Apps
PlayMarket serves as a one-stop shop for an app and ICO launch.
There is only one thing more exciting than a hot new app in the Google Play Store — and that is, an opportunity to invest in new apps. PlayMarket aspires to be the Nasdaq of Google apps.
When an application developer launches a Google app on the DAO PlayMarket 2.0 platform, they can also issue their own tokens to PlayMarket investors. The PlayMarket operates like an index fund, because investors are rewarded on the performance of all applications in the market in the form of dividends (more below). An important difference is that investors can participate directly in the success of their app investments by promoting apps. Through app ratings and social media channels, for example, users/investors can help grow the PlayMarket and, in turn, their own financial success.
Built-in app and ICO platform launch
For developers, PlayMarket serves as a one-stop shop for app and ICO launch. Developers have access to user-friendly app development and promotional tools. The source code for the smart contracts, PlayMarket 2.0, mobile app DAO PlayMarket 2.0 and the PlayMarket ICO will be available on the PlayMarket.io website.
The built-in ICO platform allows developers to distribute their tokens to current PlayMarket Fund investors. Once live, PlayMarket helps developers market and improve their apps. This includes a feedback system between developers and users. A built-in crypto exchange (PEX) allows token holders to trade tokens and exchange them for fiat and crypto currencies. All these services are provided to developers for a 1% commission versus the 30% levied by Google Play.
A model for the sharing economy
In the latest imbibing of the sharing economy in a Blockchain model, PlayMarket is putting a limit on the upside of app sales. Developers will collect income from app and content sales for a fixed period — the term of the smart contract. The smart contract immediately distributes any income from a sale to all owners.
But remember, investors still hold tokens and are earning dividends on the entire PlayMarket. This incentivizes developers to continue to take actions such as promotion that benefit the whole PlayMarket rather than only their individual profit. It further incentivizes developers to invent new apps and upgrades to generate new income streams. This means one developer would no longer earn income for life on, say, an app like Angry Birds.
The token and dividend value
As more people join the PlayMarket and use the tokens, the token’s value could rise, allowing investors to benefit from the appreciation. Tokens may also allow users to buy additional apps or upgrades, and take action within apps.
DAO Playmarket is one of the few ICOs that pays dividends — an emerging ICO model — providing an opportunity to earn ongoing income streams. The dividends are funded from a 5% sales commission paid by developers to the PlayMarket Foundation when they issue tokens on their applications. The dividend model decentralizes risk. The dividend would pay out based on the success of the entire PlayMarket application community. If an app has lousy sales or goes off the market, investors in the PlayMarket Fund still receive a dividend.
Decentralizing app authority
The decentralization of the app market means no central authority will control what apps get listed on and are successful in the PlayMarket. In this way, the PlayMarket is creating its own success. The higher authorities at the Google Play or IOS App Store will not determine what apps make it to the App Store. Across IOS platforms, apps that compete directly with IOS proprietary software have often been conspicuously absent. Uncensored app markets should unleash unbridled innovation and more innovative apps launching on the PlayMarket, and thus more traffic and usage from app enthusiasts.
Transaction and app management will be handled by ‘node owners.’ The number of nodes in the PlayMarket will increase as more users join the platform. To add a trusted node, the node owner makes a guarantee deposit on reliable operation in the base currency of the platform and a fixed number of PMT tokens under the smart contract. The deposit amount is based on the node turnover. The node owners are rewarded by receiving a percentage of the turnover, an incentive to ensure a node operates smoothly.
DAO PlayMarket 2.0 token sale
The PlayMarket tokens (PMT) will be distributed in November and PMT listed on external exchanges in the first half of 2018. Five hundred apps will be available on the launch date. The DAO PlayMarket will go live in June 2018. By May, 2019, PlayMarket expects to host 300,000 apps with 10 million users/investors invested in 30,000 tokens.
The initial coin offering opened on November 8th when three million tokens became available for sale. The allocation of the proceeds is 75 percent to investors and 25 percent to the project owner Crypton.Studio.
As noted, PlayMarket shareholders will have the option to invest in tokens of newly launched apps through the crowdfunding ICO platform.
As newly empowered app investors on the DAO PlayMarket, the next time users leave a rating or review on apps in the PlayMarket store, they could be increasing the value of their investment in the PlayMarket.
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