I like the concept! But unfortunately, the controls were a little too clunky for me to get very far.
It could very well be a skill issue, but I couldn't get much mileage out of spinning the chain, especially when grounded, because the ball will collide with both the player and the ground. Instead, I opted for more of a toss or yank, but sometimes it would just not go anywhere (assuming I probably let go a bit late). And catching the ball mid-air is rather hard, especially when moving really quickly, so I had to just hope for a good launch much of the time.
Overall though, I really like the idea, and would love to see it ironed out and expanded upon a bit!