BitShares Play(PLAY) is an experiment which should demonstrate and validate how a decentralized, autonomous,
and game assets platform is works ing. This is a platform is not only built -in with different provable fair chance games, but also has the ability to integrate with all kinds of third party games and have their within asset system in Bitshares Play PLAY's asset system (CHIP). The Shares of Play(PLS), combined with all the assets in built-in game s assets and third party games, form a free marketplace and exchange. Systems like this are also known as Decentralized Autonomous Companies (DAC).
The basic idea of a game
s asset platform is that there is an inner exchange model on the platform. Each game asset in PLAY is part of the "Contract with the system", which means assets are backed by PLS as collateral. Game assets can be issued by providing PLAY shares as collateral, or be destroyed by covering collateral. The ratio price of issue and destroy is determined by the current total supply and current collateral. So the total supply mechanism of game assets is also part of the contract with the system, for built-in chance games, the total supply changing rules is part of the DAC consensus.(I think you need define "the contract" at once, not using "also part of the contract")
Chance games have come to rely almost exclusively on trusted third parties to provide random feeds. While this system works well enough, it still suffers not only from centralized trust based models, but also from the possibility of cheating by players. Even though some crypto based games on the Internet have provably random feeds which can be verified by the public, hidden players
still can can still cheat by submitting selective favorable transactions because they know the random secret in advance. Thus players are forced to trust that the game operator is scrupulous. This will forced trust reduces demand and fun, and prevents those who simply do not want to trust the operator from playing the game. BitShares PlayPLAY's game assets (CHIP) is are not limited to built-in games and third party games, even.Centralized games can also use using PLAY as the economic system of the their game as soon as they can provide a contract which matches the requirement of PLAY's game assets inner exchange. This contract could be a consensus inside or between DACs, or a smart contract between a DAC and non-decentralized games. This could be achieved by smart contracts technologies like smart oracles or Orisi.
2.0 System Tokens
My two cents on the intro. Because of the plurality of things, saying Bitshares Play's just sounds weird. After you introduce Bitshares Play as PLAY, it should always be referred to as PLAY without Bitshares attached. That way you can make it plural without sounding strange. You also introduced (PLS) as the symbol. You have now given it three different names: Bitshares Play, PLAY, and PLS. I know PLS refers to the shares, but it does cloud the interpretation some.
Also, you need to introduce CHIP as the symbol of the assets the first time. Not after you have mention the BitShares Play Game Assets multiple times. That is why I crossed it out. ****on second thought, leave CHIP out all together. It feels unnecessary. Let me know if you are interested in my edits and I will proof more.