Animoca Brands Corporation Ltd has extended its reach into the Middle East and North Africa (MENA) market, partnering with Abu Dhabi-based Param Labs to launch Web3 products and refine Param’s blockchain and token economy design.
Param Labs is a Web3 game design studio, having previously developed Kiraverse, a Web3 transactions per second (TPS) play-to-earn shooter game and Pixel to Poly, a platform for transforming 2D non-fungible tokens (NFTs) into 3D game-ready files for use in Grand Theft Auto V, Fortnite creative mode and more.
Redefining gaming landscape
“We're excited to partner with Param Labs to advance digital property rights in gaming, bringing us a step closer to realising the vision of the truly open metaverse,” Animoca Brands co-founder and executive chair Yat Sui said.
“This collaboration aligns with our shared vision to redefine the gaming landscape, ensuring that gamers are the true owners of their digital assets. Together, we're working to transform the industry, emphasising the value of gamer experiences and ownership.”
Param Labs is gearing up to launch a free-mint NFT giveaway and the release of its litepaper, which will detail its game economy and infrastructure.
The company says this collaboration is a major leap for the Web3 gaming system in MENA and believes Param Labs is well-positioned to break new ground with Animoca Brands’ support.
“We're thrilled to announce a partnership that accelerates Param Labs and the entire gaming industry,” Param Labs founding partner Anthony Anderson.
“United with Animoca Brands by a shared vision of ensuring gamers derive true value from their gaming experiences, this collaboration marks a pivotal step in redefining the gaming landscape.”