NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO) ("NFT Tech"), a leading technology company to mainstream decentralized ownership, NFTs and the metaverse for public markets, announced today the alpha launch of its proprietary Play 2 Earn (P2E) gaming platform that will enable more lucrative connections between players and games.
“Running GOAT Guild has optimized NFT Tech’s ability to understand what players need to maximize their income”
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The platform, set to fully launch in the summer, solves the discoverability issue in gaming: it will enable players to find and play multiple P2E games at once and provide live feedback on games that provide the highest yields. The platform will also feature new games, events within these games, and statistics to help users choose which game to play based on the effort required, popularity, and the volatility of the in-game currency.
“Running GOAT Guild has optimized NFT Tech’s ability to understand what players need to maximize their income,” said Wayne Lloyd, Executive Chairman of NFT Tech. “Launching this platform later this summer will allow us to capitalize on the large gaming season that comes in Q4 as recent history demonstrated that the gaming industry is more resilient during an economic downturn. During recessions, video games offer a good value source of entertainment as people tighten belts and go out less.”
The P2E gaming industry represents large revenue opportunities right off the bat, with the top ten games having a combined player base of just under 5 million. Leading games like Axie have a market cap of approximately $4B US and have a monthly player base of 700k. To put that in perspective for how much room P2E has to grow, Activision’s Call of Duty had over 110m monthly active players in November of 2020.
NFT Tech’s long-term vision for this platform is to grow a large user base of players earning gaming assets and to build a marketplace that can facilitate player-to-player transactions, enabling cross-game transactions where players can trade items in one game for items in another.
A similar platform that focuses on cryptocurrencies, Nansen, has recently raised $75M in Series B funding from GIC, Andreessen Horowitz (a16z), Tiger Global, and SCB 10X, along with additional prominent VCs and angel investors.
