Animoca Brands, the Hong Kong-based game software and venture capital company behind The Sandbox, has announced the launch of the Guild Accelerator Program in partnership with the global venture accelerator, Brinc.
Fostering P2E Ecosystem
According to the official press release, the Guild Accelerator Program will focus on developing the emerging play-to-earn (P2E) guild ecosystem across the world. Animoca also revealed that the acceleration program will offer a total investment capital of up to $30 million for a period of two years. It is also expected to help millions of individuals globally to generate income by participating in P2E gaming via crypto gaming guilds.
The program will prioritize projects that commit to sustainability, such as supporting and giving back to player/scholar communities, having a lower physical footprint, focusing on energy-efficient proof-of-stake (PoS) protocols as well as side chains. Avocado Guild’s Brendan Wong, YCG’s Saruboti Sasuke, Ancient8’s Howard Xu is set to support the Guild Accelerator Program.
Yat Siu, Animoca Brands’ co-founder, and executive chairman stated,
“As the world enters a new era of work and play, the play-to-earn guilds space has enormous potential for growth. The management of digital assets in games and in the open metaverse represents a significant source of income for hundreds of millions of people.”
Last month, Animoca announced raising nearly $360 million in new funding round at $5.4 billion. The gaming company plans to deploy the fresh round of capital to fund strategic acquisitions and investments, product development, and licenses for emerging intellectual properties.
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Play-To-Earn
2021 saw a greater interest in blockchain-based games than ever, and this trend is likely to continue this year as well. The fusion of concepts of NFTs metaverse into gaming culture has managed to attract more usage and adoption.
Needless to, play-to-earn (P2E) with economic incentives has become one of the most dominant trends. The sector is experiencing a considerable degree of experimentation and has restructured gaming business models.
Despite the huge price volatility in the cryptocurrency market, blockchain-based games have continued to remain unfazed. CryptoPotato earlier reported that the interest level and popularity of the non-fungible token space and blockchain-based games among the investors were steadily rising since the beginning of the year, even as sell-off wreaked havoc in the market.
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