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TENKA

TENKA is the platform’s utility and governance token which is used for:

• Tournament entry fees
• Prize pools
• Sponsorship prizes
• Platform fees, such as NFT marketplace fees and in-app token swaps
• Governance votes to nominate the DAO Council which governs the TENKA token
• Yield rewards for prize pool staking, DeFi staking, and liquidity mining programs

Read more about Ecosystem Rewards and Benefits

Ignite Tournaments features include:

• Tournament organization functionality
• Streaming and chat functionality
• Payouts in TENKA and NFTs
• Game library
• Guild management system
• Guild vs Guild and Team vs Team functionality
• Sponsorship prizing functionality
• NFT marketplace
• On-chain consensus voting for match adjudication for non-integrated games
• Automated match adjudication via oracle for integrated games

Ignite Tournaments will launch the TENKA Token in January 2022 on Moonbeam / Moonriver. There will be a total of 1 billion TENKA tokens created at genesis. To support the platform, 30% of the token supply is allocated for ecosystem rewards and will be distributed over four years; 10% of every prize pool is collected for the treasury and redistributed in the form of yield for competitors and stakers to create play-to-earn sustainability. 21% tokens will be distributed to the treasury, which will be governed by the Ignite Tournaments DAO.

Additionally, 23.14% tokens will be distributed to investors and early investors and 15.5% to team and advisors, while 5.4% is set aside for ecosystem development, marketing, and strategic market partners.

Ignite Tournaments was founded by experienced startup entrepreneurs, Krystal Yang and Tony Chen.

Krystal Yang (CEO/Founder) was previously the world’s #1 defensive “trap” player in the mobile game, Final Fantasy XV: A New Empire from 2017-2019. She also led an event management and production agency, SIVA Group, as its COO, overseeing nationwide events and marketing. She holds a B.A. from Baruch College and completed all requisite coursework for a PhD program at Brown University.

Tony Chen (COO/Founder) oversees corporate governance, ecosystem / B2B strategy, and operational rigor for Ignite Tournaments. Tony is a lifelong gamer and experienced entrepreneur who previously founded Primevax, a cancer biotech company that he has led since 2015. Under his leadership, Primevax drove a novel viral cancer treatment from idea stage to human clinical trial stage, securing 9 patent families worldwide and many strong B2B healthcare B2B relationships in the process. Tony holds a B.A. in Economics from the University of Pennsylvania.

In 2019, Krystal discovered that there was no mobile application available that would allow her to organize a mobile tournament with real world prizes for Final Fantasy XV: A New Empire. Existing tournament platforms enabled organization for PC and console games with no support for mobile gaming. As a result, Ignite Tournaments was created as a platform that would enable tournament organization, tournament streaming, and fast prize settlement via TENKA and NFTs.

The team has grown to 30 employees around the world, with engineering led by former Google engineer, Josh Kornreich, and marketing led by Casey James.