CRYPTO BLOCKCHAIN INDUSTRIES announces that it has entered into partnership agreements with Chain Games, publisher of Skill-Based games (games in which players pay a registration fee to play against other players to win prizes based on their performance) and Play-to-Earn (games where part of the income is allocated between players according to their respective levels) on the blockchain.
The agreements cover various aspects, the main one being the creation of spaces dedicated to these games and the development of content in AlphaVerse, with a fee of $ 2 million for the benefit of CBI; a 5-year blockchain business development consulting agreement under which Chain Games will receive 1.5 million CBI shares; and different conditions that allow CBI to acquire up to 2.5% of the capital of Chain Games by 31 December 2022.
The first part concerns the development in AlphaVerse of universes, games and contents dedicated to Skill-Based and Play-to-Earn games. Chain Games has acquired virtual space in the AlphaVerse hub by returning $ 2 million paid in Chain Games tokens to CBI. This virtual space (Arena), is located in the Hub, the central point of AlphaVerse, and is accessible to everyone. This arena will mainly be dedicated to skill-based games and games to earn and NFTs from the Chain Games catalog. Chain Games will also develop its own universe dedicated to bigger skill-based games and Play-to-Earn. This universe will be connected to the central AlphaVerse hub and will specifically offer content owned by Chain Games and licensed NFT. In these virtual spaces, revenue will be shared between CBI and Chain Games based on where the players come from.
For the second part of this partnership, the parties have agreed on a consulting agreement focused on business development. CBI intends to rely on Chain Games’ experience and network to promote the development of its blockchain ecosystem. The five-year action plan provides in particular for the identification and organization of meetings with potential partners and in particular: development studies, marketing specialists, strategic partners. For this advisory deal, Chain Games will receive 1.5 million CBI shares and CRYSTAL tokens, the AlphaVerse cryptocurrency.
Finally, until December 31, 2022, CBI also has an option that allows it to acquire up to 2.5% of the capital of Chain Games, based on a Chain Games valuation to be defined. The agreement also provides for various cases that may give rise to equity investments on a similar basis until 31 December 2022, within the limits strictly governed by the contract and according to the available resources of CBI.
Adam Bartlam. Chain Games CEO said: “After seeing the live demonstration of the AlphaVerse metaverse and the quality of the world that will soon open, we knew we had to partner with the CBI team! AlphaVerse, the CBI metaverse, is by far the more advanced than we have been able to test, and we are very happy to be able to develop our Chain Games Arena and our Island of Chain Games there. The opportunity to be able to recruit players in the metaverse and on the Chain Games platform is very important and we do not see looking forward to helping significantly improve the multiplayer experience. “
For Frédéric Chesnais, President and CEO of CBI: “I am delighted to partner with CBI with Chain Games and its talented team and to implement these strategic agreements that enable new content to be created for AlphaVerse. The game development model based on skills and play-to-earn on the blockchain, which specifically allows players to measure their performance within existing hit games, fighting games but also single player or car racing games, has its place within AlphaVerse. The other initiatives and the chosen remuneration model also illustrate the new possibilities offered by the blockchain and the crypto ecosystem, these are initiatives that are of particular interest to us and our goal is to use this type of economic model in other “other areas of blockchain activity “.