Vancouver’s GameOn Entertainment Technologies has struck a strategic partnership with Polygon & Polygon Studios to build NFT-Based games on their Ethereum-based scaling platform.
GameOn provides consumers, broadcasters, sportsbooks, venues and brand partners with interactive, social experiences around sports, television and live events. Victory Square Technologies portfolio company V2 Games has acquired the Techstars 2019 Alumnus in an all-stock transaction last year.
GameOn’s product team is spearheaded by Santi Jaramillo, former Head of Sports at Dapper Labs and creator of NBA Top Shot.
The deal will see Polygon Studios provide non-dilutive funding for 50% of GameOn’s ongoing product development costs.
Polygon, a pioneering blockchain that has onboarded millions to the Web3 ecosystem, recently announced Polygon Studios and plans to commit USD $100 million to projects leading the transition to Web3. Investments include DraftKings, DeFine, and now GameOn. The Polygon blockchain boasts investors that include Mark Cuban.
MATIC, the native cryptocurrency of Polygon, recently outperformed Bitcoin and Ethereum. Blockchain-based game companies such as Forte have surpassed $1 billion valuations.
“Polygon is dedicated to supporting companies that usher in the future of Web3,” said Sandeep Nailwal, Polygon Co-Founder. “GameOn is one of the fastest-growing game technology providers in the blockchain space. We’re excited to support their development of NFT-based games on Polygon.”
GameOn continues to deepen its relationship with the lucrative Indian market that is nascent and primed for NFT and blockchain adoption, including a recent expanded partnership with entertainment super app MX Player, and a $6 million investment from its parent company, Times Internet.
The Polygon Studios investment allows GameOn to offer the full stack of capabilities from the creation, minting and selling of NFTs, to the game layers it already deploys for white label customers such as prediction and fantasy games, like the Chibi Dinos partnership.
“Leveraging Polygon’s technology, GameOn continues to lean into blockchain and NFTs, bringing innovative gamification to the rapidly growing Web3 and metaverse economies,” said Matt Bailey, GameOn CEO. “Through resource-driving partnerships and M&A, we’ll continue to double down on being the one-stop shop for gamification, including NFT-based games.”
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