GameOn, a leading B2B technology company partnered with the world’s biggest IPs to launch, operate, and monetize web3 games, today announces a grant from The HBAR Foundation. The funding is non-dilutive and will see GameOn launch Karateka on the Hedera network, with a second project in development. Both will be powered by GameOn’s PLAYN3XT platform.
Hedera is a well known public distributed ledger technology (DLT), which was recently made Ethereum Virtual Machine (EVM)-compatible. Anyone can build on the Hedera network, which is governed by the world’s leading organizations: abrdn, Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dell Technologies, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology, LG Electronics, The London School of Economics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London, Wipro, and Zain Group.
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The HBAR Foundation’s mission is to empower entrepreneurs to build economies on the Hedera network and access a thriving ecosystem that helps to raise awareness of projects, accelerate innovation, and scale adoption.
Karateka, a collection of unique and playable digital fighters, will feature fighting games driven by real-world results from Karate Combat, a popular combat sports league with over 200 million streams per month.
“Today’s news is a strong signal of what we’re building,” said Matt Bailey, CEO at GameOn. “Our proprietary PLAYN3XT platform makes it easy for brands and their fans to engage in web3 through NFT-powered, web2-friendly fantasy games. This grant is validation as we continue to garner support from industry leaders, and most importantly scale cash flow and profitability.”
“We are excited that GameOn selected Hedera as their next DLT integration and will be imminently launching Karateka in collaboration with Karate Combat,” said Alex Russman, VP, Metaverse Fund at The HBAR Foundation. “This is a testament to the strategic focus around web3 consumer engagement and the brands and their communities being attracted to the Hedera Network. Hedera provides best-in-class core DLT functions and GameOn’s services contribute to Hedera’s ‘ecosystem-as-a-service’ that brands can partner with to deliver engaging utility around their new DLT assets.”
