Digital TokensICOMarkets

Blockchain Social Gaming Site Launches, Token Generation to Follow


The Phoenix Group Ltd. has 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. In December, consumers will be able to challenge friends in head-to-head match-ups featuring their NFL, MLB, NHL, NBA, WNBA and MLS teams; the top UFC, Boxing and PGA players; and e-sports competitions.

In addition, the company announced the creation of iCash, a new Ethereum-based token, and its upcoming Token Generation Event (TGE) which is due in 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.

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 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.

FaceOff CEO, Rich Roberts remarked: “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. FaceOff is going to bring together communities of people who are passionate about their favourite 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.”

Will McDonough, co-founder of The Phoenix Group – the owners of FaceOff and iCash, stated: “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. 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.”

Matthew Warner
Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.