ZUG, Switzerland, March 8, 2022 /PRNewswire/ — Player’s Gold today announced a partnership with Concordium to jointly develop the world’s largest “Play to Earn” platform based on the Concordium blockchain. The platform will enable an ecosystem of gamers, businesses and NGOs to thrive in the gaming world in a safe, responsible and secure manner. Gamer’s Gold will introduce a new way to create income for everyone involved in online gaming.
Today, approximately one in three people play online games in a market estimated to generate revenue of more than 200 billion US dollars. Covid-19 and related lockdowns further boosted demand and had a major impact on market size. Large online leagues attracting an ever-growing audience further spurred growth and market penetration. However, it is estimated that today only the top 1% of players earn money for their skills.
The use of in-game currencies is nothing new, but blockchain offers the ability to exchange in-game currencies for cryptocurrencies, without players needing to log in to their personal bank details. The possibilities now extend even further than just being able to access rewards and items with greater ease and security. Players can now potentially earn real-life digital currency for their in-game efforts or be rewarded for their participation with in-game assets, cryptocurrencies or even digital assets through tokenization.
Gamer’s Gold aims to level the playing field by allowing players of all skill levels to earn income. Tokens and cryptocurrencies will be earned by players through tournaments, referral programs as well as referral programs supported by ecosystem partners. In this way, Gamer’s Gold hopes to distribute the wealth more evenly among the huge gaming market. Moreover, they hope to make the Gamer’s Gold platform a safe haven for gamers.
Concordium, based in Switzerland, defines a new category of blockchains that facilitate compliance. Concordium is a web 3 based, durable and scientifically proven blockchain. It is the first decentralized blockchain with protocol-level identification, which facilitates greater regulatory compliance. This identity layer provides transactional privacy while supporting regulatory accountability and as such is a perfect fit for use cases of this nature.
Lone Fønss Schrøder, CEO of Concordium, commented: “Online gambling has always been an exciting arena. With the advent of blockchain, it can now be a safer haven for gamers to make in-game purchases. Our partnership with Gamer’s Gold grew from our shared vision of a world better (more democratic and decentralized) made possible by blockchain technology. It is an honor to have been chosen by this team for their project.”
Steffen KirkegaardFounder and CEO, Gamer’s Gold commented, “With blockchain and decentralized finance (DeFi) we will be able to provide our players with a better and more equal experience. Players will receive their money on time, they will receive their winnings regardless of the size of the prize. Companies and Developers can also get a piece of the pie, whether it’s mainstream or niche players. using the ID feature to balance identity verification and privacy.”
Sigal Biran Nagar
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