Our footprint into the mass-adoption of GameFi, and our contribution to Metaverse integration.
GameFi (or Blockchain-centric games often developed with DeFi elements) introduces video games that include close integration with cryptography-based blockchain technologies. Blockchain elements in these games are more than not, based on the use of cryptocurrency or non-fungible tokens (NFTs) which players can buy, sell, or trade with other players. While blockchain games have been available since 2017, GameFi, or the convergence of the blockchain and DeFi, has recently gained the attention of the video game industry in 2021. Several AAA publishers have expressed strong intent to explore their potential, with strong support from the video game users, developers, and companies within the game industry.
Blockchain technology, such as cryptocurrencies and NFTs, are seen as additional monetization and customization routes for video games. Many live-service games offer in-game customization options, such as character skins or other in-game items, which the players can earn and trade with other players using in-game currency. Blockchain games typically allow players to trade these in-game items for cryptocurrency, while also allowing players to earn monetary rewards through P2E elements.
Accel Gaming has partnered with existing gaming development firms to develop our own internal GameFi and P2E offerings, while also allowing external developers a platform and publication suite for the Metaverse and NFT-asset based games. Accel Gaming will showcase blockchain-interactive and Metaverse games in an easy to access platform centered around decentralized gaming. This would additionally create a stage for existing game developers as well as upcoming blockchain game developers to showcase and publish their games to a more focused audience.
Accel Gaming is proud to announce the initiation of our GameFi platform through the recent acquisition of Soldiers of The Metaverse (SOTM), the first NFT collection and P2E game integrated into the ACCEL ecosystem.
Following our acquisition of SOTM, the Accel Gaming Division immediately began working on our second GameFi offering, PHLIP: a free-to-play P2E Game with NFT Genesis and Yield Farming Protocols designed to merge real world NFT utility with DeFi solutions. (Learn more about PHLIP here)
Upon the lauch of our Accel Gaming Division, we look forward to immediately continuing our mission of expanding our GameFi platform, through the continued development of the SOTM game and the launch of the PHLIP game.
We are always on the look out for potential partnerships in the GameFi space, and look forward to beginning the next steps to opening our GameFi platform to outside developers. Stay tuned for periodic updates on the status of the Accel Gaming division by following us on social media.