Risk & Definition

Risks

The Participant fully understands and undertakes the following risks by purchasing, holding, and utilizing PLYX. The majority of these risk factors are contingencies that may or may not occur, and the Company is unable to anticipate whether or not such a contingency will occur. The following is a non-exhaustive disclosure of principal risk factors which are considered to be material by the Company:

General Suitability of token acquisition

The acquisition of PLYX token from the Company is appropriate for financially sophisticated individuals capable of evaluating the merits and risks of such an acquisition, or for other individuals who have been professionally advised regarding the mentioned token acquisition and have sufficient financial resources to bear any loss that may occur, which may be equal to the entire amount spent in connection with the token acquisition. The acquisition of the said token should not be understood as an investment or a financial asset.

Risk of losing access to PLYX due to loss of Private key/s, Custodial Error or Participant Error

To acquire, hold, and dispose of PLYX, you'll need a Wallet. The Participant acknowledges that he is responsible for establishing the Wallet with a third-party provider to keep PLYX and for adopting adequate security measures for the Wallet. As a result, the loss of the required private key/s connected with the Wallet holding PLYX results in the loss of such PLYX as well as any other cryptocurrencies and/or tokens contained inside. Furthermore, any third party who acquires access to such private key/s, including by acquiring access to the Participant's Wallet login credentials, may be able to misappropriate the Participant's PLYX.

Any wallet malfunction caused by the Participant's errors/mistakes/failure to maintain the wallet, or any other reason in which the Participant decides to acquire and hold PLYX, may result in the loss of PLYX token.

Risk of Mining Attacks

PLYX (ERC20 tokens) are vulnerable to attacks by miners in the course of validating PLYX transactions on the Matic & Ethereum blockchain, such as double-spend attacks, majority mining power attacks, and selfish- mining attacks, as are other decentralized cryptographic tokens based on the Matic & Ethereum protocol. Any successful assaults pose a threat to the Playex.io Platform and/or PLYX, including, but not limited to, the accurate execution and recording of PLYX transactions.

Risk of Hacking and Security weakness

Hackers or other groups or organizations may attempt to interfere with PLYX through number of ways including but not limited to denial of service attacks, sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks, and any such similar events which could have an impact on PLYX, the Playex.io Platform and the Services the Company may offer from time to time.

Risk of Security weakness in the Smart Contract, Website and PLYX Source Code or any associates software and/or Infrastructure

There is a danger that the Smart Contract, Website, Playex.io Platform, and PLYX may have inadvertent flaws or errors in the source code, preventing users from utilizing or losing PLYX. The Website's source code is open and may be changed, amended, altered, or modified at any moment. The Company cannot predict or guarantee the exact outcome of a change, amendment, alteration, or modification. As a result, any update, amendment, alteration, or modification may have an unforeseen or unintentional consequence that harms PLYX and/or the Website. As a result, PLYX’s life may be in jeopardy.

Risk of no Listing or low/no Liquidity

If necessary, Playex.io may attempt to identify required crypto currency exchanges to facilitate liquidity for PLYX and Holders; however, there are no warranties or guarantees that Playex.io will be made available for exchange with other cryptographic tokens and/or fiat money, and no guarantees are made regarding the capacity and/or volume of such exchange/s.

Risks of an eventual unfavorable fluctuation of ETH or PLYX’s value

In the event of any usual market forces or other potential events which could make worse the risk of unfavorable fluctuation in the value of PLYX, the Company may not be able to fund development to the extent necessary, or may not be able to develop or maintain the Playex.io Platform in the manner that it intended.

Risk of Malfunction in the Ethereum Network or any other Blockchain and of Competing Platforms

PLYX may be interacting with malfunctions in an unfavorable way, including but not limited to one that results in PLYX loss or prevents their usage on the Playex.io Platform. Alternative platforms that use the same open source code and protocol underpinning the Playex.io Platform and aim to support services that are substantially identical to the Playex.io Platform may be built. The Playex.io Platform may compete with these alternatives, which might have a detrimental influence on the Playex.io Platform, including the usability of PLYX for Playex.io Platform use.

Risk of Uninsured Losses

PLYX, unlike bank accounts or accounts at other financial institutions, are not insured unless the Participant buys private insurance to cover them. As a result, in the case of PLYX loss or value loss, the Participant has no access to a public insurer, such as the Investor Compensation Scheme, or private insurance offered by the Company.

Risk associated with uncertain Regulations and enforcement actions

In many jurisdictions, the regulatory position of tokens in general, Initial Token or Coin Offerings, Private Placement Events, and distributed ledger technology is uncertain or unresolved. It is impossible to foresee how or if regulatory authorities would apply current regulations to such technology and its uses, such as the Playex.io Platform and the PLYX. It's also impossible to foresee how or whether the legislators or regulatory agencies will execute regulatory measures or changes that will influence distributed ledger technology and its uses, such as the Playex.io Platform and tokens.

Regulatory actions or changes in law and regulation may have a negative impact on PLYX and the Playex.io Platform in a variety of ways, including, but not limited to, a determination that PLYX is a regulated instrument that requires registration or licensing of those instruments or some or all of the parties involved in the acquisition, contribution, sale, and delivery thereof.

The Company may cease operations in a jurisdiction if regulatory actions or changes in law or regulation make it illegal to operate in that jurisdiction, or if obtaining the necessary regulatory approvals to operate in that jurisdiction or to provide the Playex.io Platform is commercially undesirable or no longer viable.

Risk arising from Taxation

PLYX’s tax classification is unknown. In connection with the purchase of PLYX, the Participant must obtain his own tax counsel, which may result in unfavorable tax implications, including withholding taxes, income taxes, and tax reporting obligations.

Risk of insufficient interest in PLYX and the Playex.io Platform

PLYX and the Playex.io Platform may no longer be utilized by a large number of individuals, businesses, and other entities, or there may be little interest in using PLYX and the Playex.io Platform. Such a lack of use or interest might have a detrimental influence on the growth of the Playex.io Platform and, as a result, PLYX’s prospective value.

Internet Transmission Risks

There are threats connected with using PLYX, including, but not limited to, the failure of hardware, software, and Internet connections, as well as other technologies on which the Playex.io Platform or PLYX rely upon. When utilizing PLYX and the Playex.io Platform or the Website, such failures may cause communication interruptions, mistakes, distortions, or delays.

Risk of Dissolution of the Company

It is possible that, for a variety of reasons, including, but not limited to decrease in PLYX’s utility, failure of commercial relationships, or intellectual property ownership challenges, unfavorable market conditions, and increased compliance and regulatory obligations, the use of the Playex.io Platform will no longer be viable to offer, and the Company will be forced to cease trading and be dissolved and liquidated.

Risk arising from Lack of Governance Rights

As PLYX do not represent or confer any ownership right or stake, share or security or equivalent rights, intellectual property rights, or any other form of participation in the Company, all decisions involving the Company will be made at the sole discretion of the Company, including, but not limited to, decisions to transfer more PLYX for use, sell, or liquidate the Company. These decisions may have a negative impact on the Participant's utility

Other Inherent Risks

The Participant understands and accepts the inherent risks associated with PLYX, to the extent not covered elsewhere in the Terms, including, but not limited to, risks associated with (a) money laundering; (b) fraud; (c) exploitation for illegal purposes; and (d) any other unanticipated risks.

Unanticipated Risks

PLYX and other cryptographic tokens, as well as blockchain, are new and unproven technologies. In addition to the risks described in the PLYX Documents, there are other threats connected with the Participant's purchase, ownership, and use of PLYX, some of which the Company cannot or may not predict. Such risks may manifest as unexpected changes or combinations of the risks outlined in the PLYX Documents. The Participant represents and certifies that he shall be solely responsible for any limitations and dangers associated with the possession or use of PLYX. If any of the risks indicated in the Terms are unacceptable to the Participant or if the Participant is unable to comprehend them, the Participant should not acquire, keep, or use PLYX.

Definitions

Playex Token(s)

The Company has created a utility cryptographic decentralized token based on the Ethereum protocol (ERC20 token) that can be used by sports fans to obtain Fan Club/Backed Tokens.

Fan Club Token(s)

A utility branded token that bears the logos and names of the collaborating sports athletes or team or organization. These Fan Tokens are generated by an athlete, a club or a sports organization associated with Playex. Holders of Fan Tokens get voting rights, allowing them to participate in decision-making processes, feedback polls, and surveys related to the sports teams or organizations to which they are affiliated. This fan token are only available on Playex Platform.

Athlete Backed Token(s)

Playex's utility digital token, which has all of the same features as Fan Club Token and in addition the token is backed by an athlete or the club or the sports organization.

Participant

Any person (natural or legal) who has contributed to the private placement and is bound by the conditions of the private placement and this White Paper, and/or who plans to hold and/or utilize PLYX Token(s) or Fan Club/Backed Token(s) at any time, including anybody who wishes to become a Participant.

Whitepaper

In its entirety, this document.

AML

Anti-Money Laundering, A set of rules developed and deployed on the platform to prevent someone from money laundering

IPO (Initial Player Offering™)

It is a term that we have coined for the initial sale of the Fan Engagement Tokens where users can apply for their favorite athlete’s/club’s/organization’s Fan Club/Backed Tokens. The process is similar to applying for a company’s shares in the initial public offering on a specific stock exchange.