News and Announcements
PlayUp Gets a New Lease of Life in the Cryptocurrency Sector
- Published April 16, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Daniel Simic is the sole Australian entrepreneur who has been responsible for transforming the bankrupt PlayUp into a global cryotocurrency entity.
- With more than 400,000 users spread all over the world and its own cryptocurrency token, this platform is expected to touch $700 million and hence get emlisted on NASDAQ and ASX.
- Subsequent to having acquired the company Daniel Simic has been busy in acquiring and taking over firms, noteworthy among them being Mission NewEnergy and Draftstars.
PlayUp, an unsuccessful business entity in sports fantasy and betting sector, has been given a new lease of life by a 41-year old Australian entrepreneur named Daniel Simic. Having entered the cryptocurrency segment, PlayUp is likely to be worth $700 million over a period of time and hence would be listed on important stock indices like NASDAQ and ASX.
It was in July, 2016 that Daniel Simic acquired PlayUp but his involvement with the company began in February when he bought it from Alex, the Australian Prime Minister’s
son. Circa January 2016 was the time when PlayUp’s aren’t company Revo was undergoing liquidation. On his part, Alex Turnbull had inherited the debt from Turnbull & Co a few months earlier.
Having taken over the company, Mr Simic has been engaged in a series of takeovers, noteworthy among them being the shell company Mission NewEnergy which is listed on ASX and Draftstars which is another sports-fantasy business. The objective of acquiring Draftstars is to integrate PlayChip as a currency option in the existing platform while transforming it into a global entity.
Currently PlayUp enjoys a global membership of more than 400, 000 users wherein a majority of 65% are Indians and Australians constitute 20%. Cryptocurrency launched by the platform is the PlayChip Utility Token and it is meant to serve as the basis for earning payments and rewards in the system.
About PlayUp
PlayUp is the developer, owner and operator of leading-edge technologies focused on live sports entertainment in the online gambling sector.
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