Game Space announces the launch of industry's first major Web3 gaming tournament, - the Player One Tournament with industry leading on-chain games, Splinterlands, Gods Unchained and Big Time. The tournament has gained a lot of great interest, support and sponsorship from over 24 partners, including major public chains such as BNB Chain and KCC chain, Web3 communities Metaverse Space, Web3 Space, Meta Galaxy etc., gaming guilds such as Planet League, Dux Guild, Metamony, Web3 credential data networks include Galxe and Link3. Together with partners, more than a $20,000 USDT worth of prize pool will be allocated to all participants, welcoming everyone to Web3 gaming regardless of their skill levels. Tencent Cloud International, as one of the sponsors of this tournament, provided $30,000 worth of Cloud Credits for the gaming partners and will continue to invest in each tournament in the future to support the GameFi industry.
Michael Cameron, CEO of Game Space said: "While many companies currently have launched gaming tournaments, most of them only involve a single game. We want to team up with some of the most influential games in the industry to bring GameFi back to attention. The goal of this tournament is to use it as an opportunity to increase the conversion rate and appeal to Web2 gamers to enter Web3. The tournament will also be focused on gameplay where we want to help to increase user engagement to each of our partners' games".
According to GameFi industry forecasts, the global GameFi market is expected to touch USD 38 billion by 2028. The trend indicates that GameFi is one of the most resilient compared to other sectors, even under the bear market, which gives game developers a lot of room for development and inspiration to enter Web3. For gamers, games built on blockchain technology can provide gamers with true asset ownership, financial opportunity, creative feedback loops and community driven development.
At the current stage, we can see that most GameFi projects generate tokens and NFTs independently, and the whole Web3 gaming ecosystem is still independent and fragmented. Therefore, in the long run, Web3 gaming will allow assets to be interchangeable with each other. For instance, props from game A can interchange with game B in some way, and users from game A can enter game B, resulting in a seamless gaming experience for players. The implementation of this path requires GameFi project owners and users to balance each other's revenue, which will essentially be a new paradigm of underlying economic logic for GameFi, and Player One Tourment organised by Game Space represents an attempt at this new paradigm. This is also the reason why Player One Tournament has been positively received by many partners. At the same time, the tournament will also increase the DAU of Web3 players.
The Player One Tournament will have a pre-warm up starting from February 3rd at 20:00 (UTC+8) by signing up on Galxe. The tournament will be a total of 9 days with 3 days dedicated to 1 gaming partner. For each game, Game Space has invited influential streamers to play in order to gain excitement and competition. 90% of the prize pool will allocated to gamers and 10% to all partners, streamers influeners and media.
For Player One Tournament, Game Space will continue to cooperate with more public chains, various gaming guilds, Web3 Infra, Web3 communities, etc. to continuously hold Web3 gaming tournaments to attract attention to various GameFi projects and expand the base of Web3 gamers, so as to better promote the development of the entire GameFi and NFT ecology. As an underlying infrastructure of the GameFi industry and the first company in the industry to provide GameFi-as-a-service, Game Space will not only provide a one-stop SDK solution for AAA games, but will also develop a series of casual mini-games on its own and explore the asset interoperability model combining NFT and Token in these casual mini-games to create a true metaverse for gaming.
About Game Space
Game Space releases games on their GameFi-as-a-Service Platform. It can help AAA gaming companies and titles to release on-chain functionality in a matter of days through integrated SDK, as well as an NFT transaction engine that can be embedded in games, which can help GameFi projects shorten the launch time by half a year and greatly reduce the threshold for gaming companies to enter Web3.
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