Polygon Studios, the gaming arm of Ethereum, has invested in sports gaming technology provider GameOn and will help develop NFT-based contests for them. This includes deals to make free-to-play games for the WNBA, NWSL, and the NFL’s Jacksonville Jaguars. The deal will also see Polygon Studios provide non-dilutive funding for 50% of GameOn’s ongoing product development costs. GameOn’s product team is spearheaded by Santi Jaramillo, former Head of Sports at Dapper Labs and creator of NBA Top Shot.
“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, CEO at GameOn. “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.”
The Polygon Studios investment allows GameOn to offer full-stack 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. For GameOn shareholders, this collaboration provides an opportunity to participate in the upside of the burgeoning crypto and NFT spaces, while accelerating GameOn’s product development in a non-dilutive manner.
GameOn recently announced plans to further expand into the Indian market after it secured up to $6 million in funding from The Times Group, the largest media conglomerate in India. Its subsidiaries include the entertainment app MX Player, which uses GameOn to offer Indian Premier League cricket prediction games.
(All information was provided by SportTechie and Cision PR Newswire)
0 comments on “GameOn Secures Investment To Fund NFT Gaming”