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.
