Reddit Co-Founder, Other Big-Name Investors See Exciting Opportunities in NFT Play-to-Earn Gaming

News provided by

Feb 17, 2022, 08:45 ET

PALM BEACH, Fla., Feb. 17, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Alexis Ohanian, co-founder of Reddit and founder of venture capital firm Seven Seven Six, is among the high-profile individuals investing in NFTs. Last month, the millionaire investor and Polygon announced that they will be investing $200 million to fund projects that focus on gaming properties and social media platforms built on Web 3. Ohanian, whose venture firm's portfolio includes DroneSeed, Better Brand, and Axie Infinity maker Sky Mavis, said "the most obvious opportunities right now are in gaming and social" and predicts play-to-earn crypto will be the only games people play in five years. Companies like Good Gamer Entertainment Inc. (TSXV:GOOD) (OTCQB:GGAMF), Funko (NASDAQ:FNKO), DraftKings (NASDAQ:DKNG), Take Two Interactive (NASDAQ:TTWO), and Zynga (NASDAQ:ZNGA) are taking gaming into the future with NFTs and play-to-earn models that will very soon become the norm for developers looking to monetize their games.

Good Gamer Entertainment Inc. (TSXV:GOOD) (OTCQB:GGAMF), a real-money skill-gaming operator and NFT play-to-earn blockchain-based game developer, just announced the launch of the Good Gamer Tournament Management Platform (TMP). The company also announced the launch of its first two real-money skills-based game on the platform, Balloon Protect and Lava Monster in the iOS app store and Samsung Galaxy store.

Good Gamer's TMP expands the gaming ecosystem by giving iOS and Android mobile game publishers the opportunity to integrate real-money competitions to their skill-based mobile casual games and connecting gamers around the world by allowing them to responsibly compete for real-money prizes.

Designed for Unity-based games at high scalability and high availability, the TMP offers configurable head-to-head and multi-player tournaments and a dynamic leaderboard feature and caters to all categories of skill-based mobile casual games and players from all popular gaming genres as well as more niche selections.

Good Gamer Entertainment recently announced a master services and license agreement with Fork Gaming to develop and launch a Play-to-Earn NFT game project called the Chosen Ones. The Chosen Ones has gained over 55,000 twitter followers and over 51,000 discord members after the announcement of the deal on Feb 1st.

Through the agreement, Good Gamer will develop multiple blockchain applications to create the Chosen Ones non-fungible tokens (NFTs), artwork, characters and a Play-to-Earn (P2E) NFT-based blockchain game. Fork Gaming will become the exclusive publisher for the Chosen Ones franchise.

For more information on Good Gamer Entertainment (TSXV:GOOD) (OTCQB:GGAMF), please visit this link.

NFTs and Gaming Come to the Forefront

Funko (NASDAQ:FNKO), the leading pop culture lifestyle brand that sells vinyl figures, action toys, plush, apparel, board game, housewares, NFTs, and accessories, has created digital versions of its popular products. The company has developed and issued its own NFTs through the WAX NFT Marketplace, which uses a proprietary vIRL technology. Funko's hyper-popular collectible toys are now going digital through the NFT version of the toys, which collectors can buy and keep on a blockchain with proof of ownership and authenticity. In February, the company unveiled its newest NFL vinyl figures from Funko GOLD, a line dedicated to spotlighting iconic music and sports luminaries, to kick of Super Bowl LVI 2022.

DraftKings (NASDAQ:DKNG) has grown rapidly in the past year and during the pandemic as online sports betting has grown. On July 21, 2021, the company announced it is planning to launch DraftKings Marketplace. The Marketplace will be a digital collectibles ecosystem offering curated NFT drops and secondary market transactions for collectibles across sports, entertainment, and culture. Users will be able to use their existing DraftKings account to use the marketplace and will have access to officially licensed products from prominent athletes and celebrities through digital collectibles via the Autograph NFT platform.

Take Two Interactive (NASDAQ:TTWO) announced on January 10, 2022 that it would acquire all of the outstanding shares of Zynga Inc. for $12.7 billion. The cash and stock transaction will combine the company's businesses as Take Two is looking to become one of the most diversified mobile game publishers in the industry. The acquisition brought $6.1 billion in pro-forma net bookings for the TTM ended September 30, 2021. Take Two and Zynga will combine their franchises and intellectual property to create a larger portfolio.

A month after the acquisition news, Zynga Inc. (NASDAQ:ZNGA) announced its Q4 and full year 2021 results, reporting $695 million in revenue in the fourth quarter, up 13% year-over-year (YoY) and FY revenue of $2.8 billion, achieving its highest-ever annual revenue. Zynga also announced record annual average mobile DAUs were 39 million, up 41% YoY, while all-time best annual average mobile MAUs were 184 million, up 107% YoY.

The world of NFTs is growing every day, with new uses and applications being developed for them every month. The decentralized gaming world continues to grow, helping developers and other companies monetize their games, and more.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of current press release issued by Good Gamer Entertainment Inc. by a non-affiliated third party.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Media Contact
Email: [email protected]
Phone: +1(561)325-8757

SOURCE FinancialNewsMedia.com