Gamer’s Gold announced today a partnership with Concordium to together develop the world's largest ‘Play to Earn’ platform based on the Concordium blockchain. The platform will enable an ecosystem of gamers, companies and NGOs to prosper from the world of gaming safely, responsibly and securely. Gamer’s Gold will introduce a new way to create an income for all those involved in online gaming.
Today, approximately one in three people play online games in a market estimated to generate a revenue of over $200B USD. Covid-19, and the corresponding lockdowns, further drove demand and had a major impact on the size of the market. Major online championships drawing an ever growing viewership further drove market growth and penetration. However, it is estimated that today only the top one percent of gamers earn money for their skill.
The use of in-game currencies is not new, however blockchain provides the ability to trade in-game currency for crypto currencies, without the need for players to link to their personal bank details. The possibilities now stretch even further than just being able to access rewards and items with greater ease and security. Gamers can now potentially earn digital currency in real life for their in-game efforts or rewarded for their participation with in-game assets, cryptocurrencies or even digital assets through tokenization.
Gamer’s Gold aims to even out the playing field by enabling gamers of all skill levels to earn an income. Tokens and cryptocurrencies will be earned by players via tournaments, referral programs as well as sponsorship programs backed by ecosystem partners. In this manner, Gamer’s Gold hopes to more equally divide the wealth amongst the massive gaming market. Moreover, they hope to make the Gamer’s Gold platform a safe haven for gamers.
Concordium, based in Switzerland, is defining a new category of compliance facilitating blockchains. Concordium is a Web 3 based, sustainable and science-proven blockchain. It is the first decentralized blockchain with identification at the protocol level which helps facilitate greater regulatory compliance. This identity layer offers transactional privacy while supporting regulatory accountability, and, as such, is a great match with use cases of this nature.
Lone Fønss Schrøder, CEO, Concordium, commented: “Online gaming has always been an exciting arena. With the advent of blockchain, it can now be a more secure haven for gamers to make in-game purchases. Our partnership with Gamer’s Gold has developed out of our joint vision of a better (more democratic and decentralized) world being enabled by blockchain technology. It is an honor to have been chosen by this team for their project.”
Steffen Kirkegaard, Founder and CEO, Gamer’s Gold commented, "With blockchain and decentralized finance (DeFi) will enable us to provide our gamers with a better, more egalitarian experience. Gamers will get their money on time, they will get their winnings no matter the size of the prize. Companies and developers can also get a piece of the pie, whether they are mainstream or niche players. In Concordium, we found a partner with a shared vision and the ability to promote in-game accountability and fairplay by utilizing the ID function to balance between identity verification and privacy."
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