VANCOUVER, British Columbia--(BUSINESS WIRE)--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.
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.
About NFT Tech
NFT Tech works to develop infrastructure, assets, real estate and IP in the metaverse, build and generate revenue from P2E and M2E games, and bring insights and benefits to the public markets. By bridging the gap between traditional capital markets and the Web3 space, NFT Tech is mainstreaming decentralized ownership, NFTs, and the metaverse. Current projects include founding the GOAT Guild and Fuku.
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For more information please contact:
Wayne Lloyd, Executive Chairman
ir@nfttech.com
Cautionary Note on Forward-Looking Information
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward-looking statements in this press release include statements relating to popularity and staying power of M2E games; benefits of investment in the Walken project; and the benefit to Walken through NFT Tech’s involvement in the project.. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, without limitation, the risk factors described in the Prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws
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