LAS VEGAS–(BUSINESS WIRE)–PLAYSTUDIOS, Inc. (NASDAQ: MYPS) (“PLAYSTUDIOS” or the “Company”), the creator of the playAWARDS loyalty platform and an award-winning developer of free-to-play cellular and social video games that provide real-world rewards to gamers, at the moment introduced the launch of its new blockchain division, playBLOCKS. playBLOCKS will prolong PLAYSTUDIOS’ management in “rewarded play” by leveraging blockchain technologies and economic models that will: deliver more engaging and rewarding experiences to players across its portfolio of games; provide new capabilities to rewards partners; and offer a more secure marketplace for both players and rewards partners to connect. PLAYSTUDIOS also announced its intention to invest in innovative companies shaping the future of rewarded play. The company refers to its plans as the “Future Fund,” and has seeded it with an preliminary sum of $10 million.
PLAYSTUDIOS’ new playBLOCKS division is constructed upon the acquisition of WonderBlocks, a blockchain-based loyalty platform for video games; an alliance with Forte, a number one supplier of blockchain infrastructure for recreation builders; and strategic investments in revolutionary corporations on the intersection of gaming and blockchain reward fashions that might be used to advance PLAYSTUDIOS strategic place, like Forte and The Kryptomon Company, its two earlier investments.
“Each of these strategic initiatives is focused on fully realizing our vision for our playAWARDS platform and rewarded play model, and will solidify our leadership as the richest and most rewarding entertainment ecosystem in gaming today,” stated Andrew Pascal, founder and CEO of PLAYSTUDIOS. “They will help us further our proven ‘rewarded play’ gaming experience in a way that gives our players more ways to earn, provides rewards partners exposure to our community of players that is trustworthy and secure, and ensures that everything we offer our players has discernible, measurable, real-world value.”
The following will kind the inspiration of PLAYSTUDIOS’ progress in Web3:
- Forte’s blockchain infrastructure permits PLAYSTUDIOS to effectively combine blockchain applied sciences into its loyalty platform and video games to create wealthy, player-first experiences constructed particularly for token economies and the administration of digital property. “We share a vision about the transformational opportunity of blockchain gaming, one that creates massive new creative and economic opportunities centered around utility, trust and authenticity,” stated Jason Hahn, EVP, Corporate and Business Development of PLAYSTUDIOS.
- WonderBlocks, an revolutionary gaming know-how startup based by gaming and retail veteran, Linda Lee, brings to PLAYSTUDIOS a collection of services that may allow PLAYSTUDIOS to shortly and effectively deploy blockchain loyalty mechanics. “We believe that by joining forces with PLAYSTUDIOS, WonderBlocks can realize its vision at a much larger scale and help accelerate PLAYSTUDIOS’ plan of building the largest and most innovative rewarded play ecosystem, delivering value to consumers, game publishers, and rewards partners,” stated Linda Lee, the brand new head of playBLOCKS.
- Through its “Future Fund,” PLAYSTUDIOS will companion with subsequent era Web3 corporations constructing superior capabilities on the intersection of gaming, loyalty advertising, and blockchain rewards. The fund’s preliminary strategic investments in Forte and The Kryptomon Company present PLAYSTUDIOS with entry to experience in Web3 know-how, advertising, and group constructing that it will possibly leverage because it deepens its capabilities within the area.
PLAYSTUDIOS has developed a portfolio of fantastically designed, top-ranked free-to-play video games which have attracted a loyal following due, largely, to the corporate’s unmatched playAWARDS Loyalty Program. The program permits gamers to earn real-world rewards from a curated assortment of over 275 leisure, retail, journey, leisure, and on line casino manufacturers. To date, the PLAYSTUDIOS group has used its in-app loyalty factors to buy over 10 million rewards. The Company has been named a Top Developer by App Annie, the gaming trade’s chief in app analytics and aggregated app efficiency knowledge.
PLAYSTUDIOS apps, together with myVEGAS Slots, myVEGAS Blackjack, POP! Slots, myVEGAS Bingo, myKONAMI Slots, MGM Slots Live, and Tetris®, can be found to obtain free on iOS, Android, Kindle, and Facebook.
PLAYSTUDIOS, Inc. (Nasdaq: MYPS) creator of the groundbreaking playAWARDS loyalty platform is a writer and developer of award-winning cellular video games, together with the enduring Tetris® cellular app, POP! Slots, myVEGAS Slots, myVEGAS Blackjack, my KONAMI Slots, myVEGAS Bingo, and MGM Slots Live. The playAWARDS loyalty platform permits gamers to earn real-world rewards from a world assortment of iconic hospitality, leisure, and leisure manufacturers. playAWARDS companions embody MGM Resorts International, Wolfgang Puck, Norwegian Cruise Line, Resorts World, IHG Hotels & Resorts, Bowlero, Gray Line Tours, and Hippodrome Casino amongst others. Founded by a workforce of veteran gaming, hospitality, and know-how entrepreneurs, PLAYSTUDIOS apps mix the very best parts of standard informal video games with compelling real-world experiences. To be taught extra about PLAYSTUDIOS, go to www.playstudios.com.
This press launch consists of “forward-looking statements” inside the which means of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, together with statements concerning the corporate’s acquisition of WonderBlocks, its new blockchain division playBLOCKS, its investments in Web3 corporations, and anticipated advantages. The firm’s precise outcomes could differ from their expectations, estimates and projections and consequently, you shouldn’t depend on these ahead trying statements as predictions of future occasions or outcomes. Words akin to “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and related expressions are meant to establish such forward-looking statements. These forward-looking statements contain vital dangers and uncertainties that might trigger the precise outcomes to differ materially from the anticipated outcomes. Most of those components are outdoors the corporate’s management and are troublesome to predict. Factors which will trigger such variations embody, however are usually not restricted to: (1) the market acceptance of blockchain-based rewards and recreation options and the corporate’s potential to monetize them; (2) prices associated to the expansion and operation of the playBLOCKS division, together with recruiting and sustaining personnel with experience within the subject, and complying with new and evolving guidelines and rules; (3) the corporate’s potential to execute its marketing strategy for the usage of blockchain applied sciences and financial fashions in reward play and meet its projections; (4) normal financial, enterprise, and/or aggressive components; and (5) different dangers and uncertainties included from time to time within the firm’s different filings with the U.S. Securities and Exchange Commission (the “SEC”). Additional data might be made out there in different filings that the corporate makes from time to time with the SEC. In addition, any forward-looking statements contained on this press launch are based mostly on assumptions that the corporate believes to be cheap as of this date. The firm undertakes no obligation to replace any forward-looking statements to replicate occasions or circumstances after the date of this press launch or to replicate new data or the incidence of unanticipated occasions, besides as required by legislation.