Animoca Brands Corporation Ltd subsidiary Lympo has partnered with Polygon Studios to launch play-to-earn games by marrying blockchain and non-fungible tokens (NFTs) with Polygon Studios’ metaverse hub, designed to facilitate Web 3 integration.
Lympo will bridge its Lympo Market Token (LMT) blockchain currency and sports NFTs to Polygon’s energy-efficient network, which the companies believe will eliminate restrictive transaction fees for all users and provide a scalable and sustainable solution for upcoming Lympo pay-to-earn blockchain games.
First step in multichain vision
Lympo CEO Ada Jonuse said, “We’ve always seen the Lympo NFT minting platform as a multichain project. Digital collectibles should be simple, available to everyone and non-restrictive.
“That’s why we think Polygon is an excellent first step in our multichain vision. The cheaper and faster transactions enabled by Polygon make the Lympo ecosystem faster and more efficient.
“And, by joining Polygon’s fast-growing ecosystem, our upcoming play-to-earn blockchain games will be able to tap into a potential audience of millions of new players.”
Earning real money in games is not new. Whenever enough players gather in a game to create a market, value can be extracted. This trend toward blockchain incorporation and true play-to-earn games is one of the first instances of the industry attempting to embrace this phenomenon, rather than stifle it.
Animoca Brands, through its subsidiary, is pioneering this new subgenre of gaming. Polygon Studios’ Web 3 integration allows the incorporation of Ethereum blockchain, tying Lympo’s in-game blockchain currency to a real-world value.
NFT and blockchain integration
The company’s NFT Minting Platform allows users to stake LMT and partner tokens in order to mint NFTs depicting top-level athletes and world champions such as MMA superstar Rose Namajunas, or Eddie Hall, the world’s strongest man.
Lympo NFTs are backed by enforceable intellectual property rights and will be integrated in upcoming Lympo play-to-earn games, giving players the option to enhance their experience through digital ownership.
The transition to Polygon’s digital infrastructure enables new features and functionality for the Lympo ecosystem, including the newly unveiled and “unique” NFT staking platform, which will be launched soon after the bridge is finalised.
The NFT staking platform will allow Lympo NFT holders to receive token awards (with real-world value) for participating in staking activities. Lympo will also move its athlete NFT minting pool to Polygon, with the addition of several new world-famous athletes, each with their own set of digital collectibles ready to be claimed.
Polygon Studios NFT lead Charles Adkins said: “We’re delighted Lympo has transitioned their gamified sports NFT ecosystem to Polygon. We're looking forward to providing all the necessary support they need via Polygon Studios, the dedicated gaming and NFT arm of Polygon to continue to build on Lympo's success to date."
Lympo’s first-ever play-to-earn blockchain game will arrive later in 2022. Users will be able to leverage their LMTs and Lympo sports NFTs in-game to claim rewards or participate in special events.
The launch to Polygon will also come with extra listing opportunities for the LMT token, exposing LMT to a larger user base and providing additional acquisition channels.
About the companies
Animoca Brands is a developer of blockchain games and NFT products, delivering digital property rights to internet users, gamers and creators.
The company develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilising popular intellectual properties.
Animoca Brands’ portfolio of blockchain investments includes over 100 of the most promising NFT-related companies and projects.
Lympo, a subsidiary of Animoca Brands, is building a sports NFT ecosystem based on world-famous athletes and sports clubs. The Lympo ecosystem will include sports stars, clubs, and custom sports characters created by various artists and sports influencers. Users can mint NFTs using LMT and partner tokens.
Polygon Studios is the Gaming and NFT arm of Polygon focused on growing the global Blockchain Gaming and NFT Industry and bridging the gap between Web 2 and Web 3 gaming through investment, marketing and developer support.