Arena, a play-to-earn gaming company, is attempting to revolutionize the video game and blockchain space with the announcement of League of Degens, a competitive gaming league and DAO that pits NFT communities against one another in different events. Every NFT community is invited to join and field their teams to play against one another. The entry fee will be three ETH per team per season and this grants them membership in the DAO and a spot in the league. The DAO will use the proceeds from the entry fees to buy NFTs (sweep the floor) of the winning community. This raises the floor price of the winning community and builds a treasury of awesome NFTs for the DAO.
“Ever since we launched Arena we have set out to be pioneers in this industry and bring innovative ideas to the table to change the gaming industry,” said Chase Thompson, CEO of Arena. “League of Degens will not only bring a new dimension to gaming, but it will give individuals more enhanced ways of earning money. We see this as getting very competitive very quickly especially as the prize pool grows and more teams join.”
Arena is a gaming platform and network that enables play-to-earn for any video game. In addition to competing for the prize pools, all participants will earn Arena tokens for fielding teams, joining events, or doing anything else at arena.gl.
(All information was provided by Globe Newswire)