Victory Square Portfolio Company, GameOn, Announces a Strategic Partnership with Polygon Studios to Bring NFT-Based Games to the Masses
The Strategic Partnership will see Polygon Studios provide funding to invest in 50% of GameOn’s ongoing product development costs in the burgeoning NFT space
VANCOUVER, British Columbia and DUBAI, United Arab Emirates, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a
company that provides investors access to a diverse portfolio of next generation technology companies in key sectors including: Web 3, Gaming, the Creator Economy, NFTs and the Metaverse, is
pleased to announce that portfolio company, GameOn
Entertainment Technologies Inc. (CSE: GET) (OTCQB: GMETF) (“GameOn”) has formed a strategic partnership with Polygon ($MATIC) and Polygon Studios to build NFT-Based games on their Ethereum-based scaling platform. The deal will see Polygon Studios provide non-dilutive funding to invest in 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.
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. MATIC, the native cryptocurrency of Polygon, recently outperformed Bitcoin and Ethereum. Blockchain-based game companies such as Forte have surpassed $1 billion valuations.
The Polygon blockchain boasts investors that include Mark Cuban, Kevin O’Leary and many other high-profile investors. 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 an 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. 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.