HeroCoin is a utility coin developed by Byte Heroes GmbH, a limited liability company registered with the Commercial Court of Vienna and headquartered in Vienna, Austria. The team launched the project in 2014 striving to change the centralized nature of online betting providers when a sports fan is set up against a professional bookmaker. The goal of the developer is to eliminate the need for any middleman and create a system that will allow players to compete with other sports fans at the same level.
The company has developed a betting platform for esports events, which was rebranded to herosphere.gg in July 2016. Herosphere is a peer-to-peer platform that focuses on predictions of games’ results in esports. It allows the participants to select a contest, choose a team, and play against their friends and the community without a middleman. Those who get in the 50% of top contest participants double their stakes. You can also watch live performances of your favorite players on the platform and use bonuses and swaps to get an edge over other members. In addition, players have an opportunity to predict the outcomes of matches maximizing their points. The winnings can be cashed out or used to buy skins, in-game gear, and consumables.
HeroCoin or HERO, or PLAY is a utility token created in Q3 2017. It operates on the Ethereum blockchain and supports point-based pooling systems as it is used as a virtual currency for the HeroCoin network. It was created to establish a new level of trust, transparency and security. The maximum total supply of the PLAY token is capped at 252 million coins.
The ICO took place from October 13 to October 16, 2017. 600 million coins were offered for sale raising over $2 million. Unsold tokens were burned. The coins were distributed in the following way: 40% were spent on PLAY development, 30% were used on sales and marketing, 12% was spent on additional expenses, such as public relations, engineering, and affiliate programs, 10% was reserved for administration, and 8% was held for unforeseen costs.
HEROcoin is listed on Kucoin and Uniswap V2 exchanges and is traded against ETH and BTC. It can be stored in any ERC20 wallet like Ledger, Trezor, or MyEtherWallet. The value of PLAY is expected to increase in time due to its limited supply.
The token network gives any participant the possibility to join and create contests or games on the Ethereum blockchain. It also allows any provider to implement the PLAY token on their platform. Its blockchain technology allows it to cut out the middleman and provide a system without odds and bookmakers. The PLAY network can be used for any pool, betting, fantasy or poker system.
All PLAY transactions are transparent, publicly verifiable, viewable, tamperproof, and not subject to the risk of institutional processing. The smart contract processes payments automatically that guarantees a trustful ecosystem.
HeroCoin use cases and rewards
HeroCoin creates new active and passive revenue streams and helps to improve the network. The PLAY token is used for rewarding players, game creators, token holders, and the community. It creates a fully transparent network where users can become providers and earn rewards for their efforts in PLAY.
PLAY holders receive a General Reward for each pot played. The minimum bonus is 1% of all the HERO volume played. However, the minimum General Reward can be increased by the provider when setting up the competition to incentivize community participation. The contest smart contract calculates it for each PLAY holder according to the amount of tokens they own and distributes after the contest ends.
The rest of the pot is winnings. These rewards are allocated to the winners of the contest. The provider determines the number of PLAY coins each winning wallet address receives and commands the smart contract to send them. In addition, members who create games receive a provider reward.
HeroCoin team and partners
The HeroCoin team consists of passionate and open-minded professionals, esports, and blockchain technologies fans.
Paul Polterauer, Philip Peinsold, and Bernhard Blaha are the co-founders of Herosphere.
Paul, a passionate soccer and tennis player, is the CEO. Philip is the CTO responsible for the technical background of the company. Bernhard is the CFO and economic mobile computing expert.
Andreas Petersson is the lead blockchain developer with a background in corporate software development and the Bitcoin industry. Philipp Haas is a Content Marketing Manager who creates content for all social media profiles and brings up ideas for spreading PLAY. Vladan Vasic, a full-stack web developer, is the Chief Information Officer at HeroCoin.
Stefan Fleig, the co-founder of TableConnect and Shpock, Erwin Smole, the co-founder of Grid Singularity and Energy Web Foundation, and Thomas Talos, a partner at Brandl, are on the HeroCoin Advisory Board.
The main HeroCoin partner is Greentube, the leading iGaming operator, which acquired HERO to move into esports and blockchain tech.