The fast-paced world of blockchain technology and Web3 is witnessing a surge of groundbreaking innovations. Among these, the strategic partnership between Param Labs and Animoca Brands stands out as a game-changer for the gaming industry. This partnership is poised to transform digital ownership, elevate gaming experiences, and fuel substantial growth within the Web3 ecosystem.
Param Labs is a leading gaming infrastructure startup based in the United Arab Emirates. It focuses on developing innovative technology solutions that empower gamers and developers to leverage blockchain for enhanced digital ownership and user-generated value. With a strong team comprising professionals from renowned companies such as Activision, EA, and Ubisoft, Param Labs is poised to set new standards in the gaming industry.
In March 2024, Param Labs secured a strategic investment from Animoca Brands, a company renowned for advancing digital property rights in gaming and the open metaverse. This partnership aims to accelerate the development of Param Labs’ scalable Web3 infrastructure, enhancing their ecosystem and expanding their reach in the gaming world.
One of the most exciting developments from Param Labs is Kiraverse, a Web3 multiplayer third-person shooter game. Kiraverse allows players to compete, earn, and trade digital assets like characters and skins. This game leverages blockchain technology to promote digital ownership and user-generated value, providing a truly immersive gaming experience.
Param Labs has introduced Pixel-to-Poly, a revolutionary service that transforms 2D images into 3D playable in-game characters. This service is compatible with both Kiraverse and popular Web2 titles like Grand Theft Auto V and Fortnite. By enabling seamless integration of user-generated content, Pixel-to-Poly enhances the gaming experience and fosters creativity among players.
The partnership with Animoca Brands marks a significant milestone for Param Labs, particularly in the MENA region. Together, they aim to establish a physical office and Web3 hub in Riyadh, driving innovation and collaboration in the region. This initiative is expected to accelerate the adoption of blockchain technology in gaming and promote a vibrant Web3 ecosystem.
Param Labs is preparing for the launch of its ecosystem token, which will play a crucial role in its gaming and infrastructure projects. This token will support various functionalities within their ecosystem, enhancing user engagement and providing new opportunities for digital ownership and value creation.
Param Labs proudly holds over 50 intellectual property partnerships with renowned brands like GameStop, Pudgy Penguins, and Mocaverse. These collaborations are set to significantly impact the Web3 gaming landscape, ensuring a dynamic and engaging ecosystem for gamers worldwide.
Animoca Brands, a leader in digital property rights and blockchain gaming, has a broad portfolio that includes original games like The Sandbox, PHANTOM GALAXIES™, and Crazy Defense Heroes. Their investment in Param Labs underscores their commitment to advancing Web3 and digital ownership in the gaming industry.
The core vision of Param Labs is to promote digital ownership and enable user-generated value across gaming experiences. By leveraging blockchain technology, Param Labs empowers gamers to own and trade their digital assets, transforming the traditional gaming model and providing new opportunities for creators and players alike.
Param Labs is dedicated to fostering a vibrant community of gamers and developers. Through initiatives like Pixel-to-Poly and the upcoming token launch, they are creating an inclusive and dynamic ecosystem that encourages innovation and engagement.
With the backing of Animoca Brands, Param Labs is well-positioned to lead the next generation of gaming. Their focus on digital ownership, user-generated value, and innovative technology solutions sets them apart in the rapidly evolving Web3 landscape.
The partnership between Param Labs and Animoca Brands is a significant development in the world of blockchain and Web3 gaming. By focusing on digital ownership, innovative technology, and user engagement, they are paving the way for a new era in the gaming industry. Keep an eye on Param Labs as they continue to revolutionize the gaming landscape and drive the future of Web3.
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