Big Idea:

Playbux, a Web3 entertainment platform that offers shop-to-earn experiences, plans to raise $150,000 through a fair community offering (FCO) instead of the usual initial coin offering (ICO). The FCO, facilitated by crypto investing platform Raiser, involves ranking users based on on-chain activity, referrals, educational quizzes, and profile following. Users with higher rankings get the opportunity to invest in the project's token before it is listed on centralized exchanges.

Why It Matters:

FCO is introduced as an alternative to ICOs, which were common but became associated with fraud during the crypto boom of 2017-2018. ICOs lacked reporting requirements and accounting standards, leading to fraudulent activities. The decline of ICOs has paved the way for new fundraising mechanisms, such as airdrops. FCO aims to address the shortcomings of ICOs by aligning with more rigorous listing requirements while providing pre-listing token access to the community.

Key Details:

• Playbux aims to raise $150,000 through its FCO, leveraging Raiser's platform and targeting a late January 2024 launch.
• The FCO introduces a merit-based system, ranking users based on engagement and contribution, promoting a healthier investment environment.
• This shift could lead to safer investment practices in crypto, mitigating risks associated with ICOs.

“Our goal is to effectively support both the community and centralized exchanges, who show belief in the potential success of new projects through initial listings. Our unique platform rewards active community members and so assists exchanges in their strategic decisions,” said Raiser’s Co-founder and CEO Kori Leon.

What's Next:

Playbux will conduct its public FCO for the PBUX token in late January. The platform was part of Binance Labs' incubation program and was added to Visa's Asia Pacific 2023 accelerator program. Its success could prompt similar offerings by other Web3 firms, shifting crypto investments to more community-centered, equitable approaches.

By the Numbers:

• 16 Million: Playbux's user base on the BNB Chain.
• $150,000: Amount being raised by Playbux through its FCO.
• 26,000: Global merchants connected to Playbux's shop-to-earn mechanism.
• 1.3 Million: Monthly active users on Playbux.