VANCOUVER, British Columbia--(BUSINESS WIRE)--NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO) ("NFT Tech"), a leading technology company partnering with top-tier brands to accelerate their entry into the world of web3 through innovative technologies and unparalleled creativity, is pleased to announce that it will begin monetization of its Play-2-Earn (P2E) dashboard Cashdash.
Cashdash is a P2E dashboard that helps gamers discover new games, allows them to track earnings in real time, and compares those earnings to other games and other players. The platform also has an asset management tool with crypto wallet integration and features a unique scoring tool that rates games based on multiple factors. NFT Tech believes Cashdash has the potential to bring significant value to every P2E gamer in the industry.
Cashdash aims to be the CoinMarketCap of the P2E space. CoinMarketCap, which Binance acquired for $400 million USD, is one of the first stops for new crypto investors. CoinMarketCap allows people to track the price of coins in real time and is the crypto version of a stock screener. Crypto experts believe gaming will be the leading use of NFT assets in five years and will be responsible for the next 100 million users of blockchain technology.
NFT Tech is empowering Cashdash’s monetization through Sherwa, which has been matching players with other players and games since 2019, and has worked with major game developers like Riot Games and Activision. Sherwa has over 1 million downloads with users primarily based in South America, a region that is a major force in P2E games and traditional gaming going back to World of Warcraft and Runescape. In 2011, “gold farmers” who stockpile game currencies to sell to other players, made up 85% of the 3rd party gaming services industry.
“We want Cashdash to be the one-stop shop for every player in the play to earn space,” said Wayne Lloyd, NFT Tech Executive Chairman. “Everything from education and information on certain games to asset management and eventually the ability for players to trade items in one game for items in another. As the space matures and the gaming experiences increase, we saw Ubisoft and other AAA developers commit to building play-to-earn games, we think this industry will be a multi-billion dollar opportunity for NFT Tech, and we’re happy to be launching products at such an early stage.”
Cashdash is starting to onboard the first batch of P2E games. These games pay the company an initial listing fee and commit to providing in-game assets for the new users Cashdash brings in. In exchange, these games get a verified status on the platform and analytic tracker, while Cashdash continues to find more players.
Other analytic platforms in the gaming industry have seen huge success. Products such as add-ons or game analytic tools are becoming more and more common. For example, op.gg is a website that allows League of Legends players to see the rank of players in their game and some other minor analytics about their opponents. Op.gg sees more than 70 million monthly visits compared to the 180 million monthly players playing League of Legends.
“Gaming will inevitably be linked to NFTs and their success,” continued Wayne. “Gamers already interact with NFT-like products via in-game skins, powerups, etc. With hundreds of P2E games launching, players constantly look for the best games to invest their time in. We’re excited to be launching this as the first of many web3 products that will empower gamers to understand the market better.”
About NFT Tech
NFT Tech works to develop infrastructure, assets, real estate and IP in the metaverse, build and generate revenue from web3 games and assets, 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.
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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 completion of the acquisition of Sherwa and closing date thereof; benefits realized from the Transaction; expansion of the Company's NFT developments and product offerings; potential benefits and demands for direct-to-consumer NFT projects; potential benefits, development and acceptance of web3 and related applications; plans for accelerating growth and transformation of gaming industry; and the continued and strengthening public acceptance of NFTs, P2E Games and related offerings. 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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