London eSports company expands into “play-to-earn” model with NFT integration
Semper Fortis Esports PLC, the London based eSports company focused on establishing teams and forming brand and technology partnerships, has announced the launch of its new blockchain-based play-to-earn gaming division, SMPR Guild.
Play-to-earn is a new category in video gaming that rewards players for winning and completing tasks with game-based tokens which are free to use in-game or convert into cryptocurrency and then into fiat currency.
The company will purchase in-game items (non-fungible tokens known as NFTs) which are the characters, plots of virtual land, and weapons required to play a game and then provide access to these to active game players on a revenue share basis.
The players earn game-based token rewards by playing which are then split between the player and the company.
The initial acquisition costs of the NFTs can range from $10 to $1,000. Therefore, the company will enable players who do not have the upfront capital required to purchase the NFTs to still be able to participate in games by sharing their earnings with the Company.
Blockchain technology behind NFTs provides the company with digital property rights for these in-game assets and allows the ownership of the NFTs to be transferred. There is an entire ecosystem of people who buy, sell, and trade in-game items between each other on open markets.
According to DappRadar, there are an estimated 1,000 blockchain-based games that have emerged to date which represents a small portion of the over one million individual video games that exist today according to research from GamingShift.
Jassem Osseiran, COO of Semper Fortis Esports, commented: “SMPR Guild with its play-to-earn model, is forging loyalty at the forefront of the evolution of the gaming environment.
“The potential for substantial growth in the sector is significant; ultimately wherever there is an internet connection and a mobile phone, users will be able to find ways to create income by playing games.”
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