Tortola, British Virgin Islands--(Newsfile Corp. - January 11, 2022) - Announcing GamesPad, a new crypto gaming ecosystem aimed at solving some of the biggest problems in the GameFi space. It's a next-generation platform that sits at the convergence point of NFTs, gaming, and metaverse development. And it includes a support system aimed at helping game developers address some of the key challenges they face in building new play-to-earn games. In short, it's nothing less than a gaming incubator that will supercharge the growth of the GameFi sector once it's fully up and running.
For much of the past year, there's been no hotter part of the cryptocurrency market than GameFi. It is powering exponential growth in crypto gaming with daily average players growing from 88,000 at the beginning of April to an astounding 1.33 million by the end of October. And those players now generate around $544 million in game-related transactions every day, demonstrating the value proposition of the industry as a whole.
But with rapid expansion came some growing pains. The sector has attracted its fair share of scams, as has every hot area of crypto development before it. And with so many developers looking to create innovative new play-to-earn games, it's not at all easy for them to find the financial and technical backing they need to succeed.
GamesPad addresses these problems in a few ways. First, it includes a rigorous due diligence process that vets all participating developers to weed out potential scams. Then it gives developers access to a decentralized VC system to raise the funds needed to get new game projects off the ground. And once that happens, it also provides mentorship and instruction to help new developers set up their game studio and run it like an established professional.
Launching new games isn't GamesPad's only purpose, however. It's also built to democratize investor access to these lucrative new GameFi projects. That's a mission that's central to the GamesPad concept, as its co-founders believe that funding for new games should be just as decentralized as the infrastructure they depend upon. The platform makes that possible by offering retail investors the opportunity to put their money behind promising new games on an equal footing with traditional VCs and institutional investors.
To support both game developers and investors, GamesPad also includes an NFT marketplace and aggregator service. Its purpose is to provide NFT creators and buyers with unprecedented market visibility at all times. To accomplish that, it will collect real-time data and provide visualizations to aid buyers in understanding the broader trends of the overall NFT market. They can use that information to better plan their NFT purchasing and investment strategies, all without leaving the GamesPad platform.
And although getting all of those aspects of the planned GamesPad platform up and running is no simple task, GamesPad is assembling an impressive array of backers to help it along. So far those backers include well-known investors like:
Together, they bring a wealth of experience both inside and outside the crypto industry, helping to ensure that GamesPad will succeed in its stated mission. And given the fact that GamesPad's mission is central to the continued rise of the GameFi space as a whole, it's one that the industry is quite eager to get behind.
And that mission is to become the go-to one-stop shop for GameFi developers and investors to connect with one another. In the months to come, GamesPad expects to begin rolling out many of the major features of its platform in accordance with its current roadmap. And according to GamesPad co-founder Eran Elhanani, the project expects to announce an upcoming IDO which will take place before Christmas 2021.
By that time, the platform also expects to have already begun launching deals for investors to participate in. Simultaneously, the platform will also open up for inquiries by developers seeking to add their projects to the GamesPad ecosystem. Successful projects will join a slate of in-house development projects, which should begin to appear in the first quarter of 2022.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108567