Loop Games, which we have heard frequently in the game industry recently, is making a new investment. Ankara-based game company Loop Games, which sold Match 3D and Match Tile 3D to Applovin in the last quarter of 2021, announced that they had allocated $100 million in investment and advertising budget for pethereum.io, the blockchain-based game platform they are currently developing.
Play-to-earn games based on blockchain and NFT technologies are increasing day by day. For those who don’t know, play-to-earn is a new generation game system where both developers, publishers, and players can earn money. The successful company will be included in this chain with its new metaverse project. Loop Games plans to transfer the experience they have gained in the mobile game world to blockchain-based games with Match 3D and Match Tile 3D, among the most successful games in the hybrid-casual category.
A new play-to-earn metaverse: Pethereum.io
Powered by blockchain technology, NFT and play-to-earn systems attract the attention of everyone involved in the game industry. Compared to traditional game models, this system is relatively new and more profitable for everyone. While the gaming world is trying to adapt to this new system, especially the developers face some difficulties. Loop Games is taking action to overcome these challenges and offer new opportunities.
Pethereum.io will be a metaverse that enables mobile game companies to present their games based on the blockchain without being overwhelmed with the details of blockchain technology. Unlike many other play-to-earn games, Pethereum.io does not have a paywall/entrance fee but instead employs a more sustainable economic model based on in-app purchases (IAP) and ad revenues. This system brings brand new opportunities.
On the subject, Mert Gur, CEO of Loop Games, says:
“I believe that blockchain games will bring a much bigger evolution than mobile games have made to the game industry in the past. Especially starting from 2022, I think everyone will feel this change in the industry very clearly and will see that it is not a temporary frenzy. I likened the current blockchain game market to eight years ago’s mobile game market. Infrastructures, technologies, and marketing strategies waiting for developers who want to make blockchain games are still in their infancy. On the other hand, most blockchain game developers have more crypto industry experience than gaming experience. As Loop Games, we plan to make the whole process as easy and accessible as publishing a mobile game by undertaking the ‘Game Store,’ ‘NFT Market,’ ‘Game-Specific Blockchain Network,’ and ‘Publishing’ parts to accelerate the transition of mobile game developers to this field with Pethereum.io.”
In line with the project, Loop Games will hold an ICO (initial coin offering) for pethereum.io in the first quarter of 2022 and release the platform as an open beta in the second quarter. Thus, more developers will be able to take advantage of blockchain opportunities. In particular, many essential services will be offered to developers who have experience in game development but have not yet entered blockchain technologies.
