Tokens.com, a publicly-traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets, has acquired Playte Group, a company that is building tools to power the play-to-earn (P2E) economy.
The Ontario-based Playte Group is a play-to-earn blockchain technology business that is building a set of software and tools to onboard, manage, and track players and assets in the play-to-earn economy.
Tokens.com revelaed that Playte will be integrated into its subsidiary, Hulk Labs, where Playte’s tools will be used to manage its assets and player network in Africa.
Hulk Labs invests in the NFT ecosystem with a focus on play-to-earn games. The company acquires gaming tokens and NFTs and monetizes them through staking and gaming guilds.
Andrew Kiguel, CEO of Tokens.com pointed out that the massive video game market is shifting to play-to-earn games.
“Hulk Labs is tying together the key pieces to create an integrated play-to-earn gaming platform,” states Andrew. “Hulk is establishing itself as a technology leader in player management and in analyzing gaming profitability. Hulk labs currently provides the top gaming calculators for free on its website for players to view. The Playte acquisition is a perfect fit with our exclusive access to video game players in the DRC recently announced.”
Playte is currently at pre-revenue stage. Playte inteds to build a platform to automate the management of play-to-earn assets and players. Additionaly, Playte is building tools to manage players and assets for games on networks including Ethereum, Solana, and Avalanche.
Playte is actively focused on building tools for games including Axie Infinity, Crabada, and Thetan Arena. In addition, the Playte team is in the process of building an on-the-ground network of 1,000+ players in Africa.
Deven Soni, COO of Tokens.com predicts an explosion of interest in the P2E economy from investors and gamers. “We are excited to work with the team from Playte to help build tools and infrastructure to grow this ecosystem,” Deven Said.
As part of the acquisition, Tokens.com will issue 1 million shares. The Playte team is eligible for additional shares based on meeting various performance-based milestones.
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