PLAYSTUDIOS Brings Its Real-World Gamified Rewards to Web3 With New Blockchain Division
August 03 2022 - 8:15AM
Business Wire
Built upon the acquisition of WonderBlocks, a
strategic alliance with Forte, and its Future Fund, PLAYSTUDIOS’
new playBLOCKS division will extend the company’s leadership in
‘rewarded play’
PLAYSTUDIOS, Inc. (NASDAQ: MYPS) (“PLAYSTUDIOS” or the
“Company”), the creator of the playAWARDS loyalty platform and an
award-winning developer of free-to-play mobile and social games
that offer real-world rewards to players, today announced the
launch of its new blockchain division, playBLOCKS. playBLOCKS will
extend PLAYSTUDIOS’ leadership in “rewarded play'' by leveraging
blockchain technologies and economic models that will: deliver more
engaging and rewarding experiences to players across its portfolio
of games; provide new capabilities to rewards partners; and offer a
more secure marketplace for both players and rewards partners to
connect. PLAYSTUDIOS also announced its intention to invest in
innovative companies shaping the future of rewarded play. The
company refers to its plans as the “Future Fund,” and has seeded it
with an initial sum of $10 million.
PLAYSTUDIOS’ new playBLOCKS division is built upon the
acquisition of WonderBlocks, a blockchain-based loyalty platform
for games; an alliance with Forte, a leading provider of blockchain
infrastructure for game developers; and strategic investments in
innovative companies at the intersection of gaming and blockchain
reward models that will be used to advance PLAYSTUDIOS strategic
position, like Forte and The Kryptomon Company, its two earlier
investments.
“Each of these strategic initiatives is focused on fully
realizing our vision for our playAWARDS platform and rewarded play
model, and will solidify our leadership as the richest and most
rewarding entertainment ecosystem in gaming today,” said Andrew
Pascal, founder and CEO of PLAYSTUDIOS. “They will help us further
our proven ‘rewarded play’ gaming experience in a way that gives
our players more ways to earn, provides rewards partners exposure
to our community of players that is trustworthy and secure, and
ensures that everything we offer our players has discernible,
measurable, real-world value.”
The following will form the foundation of PLAYSTUDIOS’ growth in
Web3:
- Forte’s blockchain infrastructure enables PLAYSTUDIOS to
efficiently integrate blockchain technologies into its loyalty
platform and games to create rich, player-first experiences built
specifically for token economies and the management of digital
assets. “We share a vision about the transformational opportunity
of blockchain gaming, one that creates massive new creative and
economic opportunities centered around utility, trust and
authenticity,” said Jason Hahn, EVP, Corporate and Business
Development of PLAYSTUDIOS.
- WonderBlocks, an innovative gaming technology startup
founded by gaming and retail veteran, Linda Lee, brings to
PLAYSTUDIOS a suite of products and services that will enable
PLAYSTUDIOS to quickly and efficiently deploy blockchain loyalty
mechanics. “We believe that by joining forces with PLAYSTUDIOS,
WonderBlocks can realize its vision at a much larger scale and help
accelerate PLAYSTUDIOS’ plan of building the largest and most
innovative rewarded play ecosystem, delivering value to consumers,
game publishers, and rewards partners,” said Linda Lee, the new
head of playBLOCKS.
- Through its “Future Fund,” PLAYSTUDIOS will
partner with next generation Web3 companies building advanced
capabilities at the intersection of gaming, loyalty marketing, and
blockchain rewards. The fund’s initial strategic investments in
Forte and The Kryptomon Company provide PLAYSTUDIOS with access to
expertise in Web3 technology, marketing, and community building
that it can leverage as it deepens its capabilities in the
space.
PLAYSTUDIOS has developed a portfolio of beautifully designed,
top-ranked free-to-play games that have attracted a loyal following
due, in large part, to the company’s unmatched playAWARDS Loyalty
Program. The program enables players to earn real-world rewards
from a curated collection of over 275 entertainment, retail,
travel, leisure, and casino brands. To date, the PLAYSTUDIOS
community has used its in-app loyalty points to purchase over 10
million rewards. The Company has been named a Top Developer by App
Annie, the gaming industry’s leader in app analytics and aggregated
app performance data.
PLAYSTUDIOS apps, including myVEGAS Slots, myVEGAS Blackjack,
POP! Slots, myVEGAS Bingo, myKONAMI Slots, MGM Slots Live, and
Tetris®, are available to download free on iOS, Android, Kindle,
and Facebook.
About PLAYSTUDIOS
PLAYSTUDIOS, Inc. (Nasdaq: MYPS) creator of the groundbreaking
playAWARDS loyalty platform is a publisher and developer of
award-winning mobile games, including the iconic Tetris® mobile
app, POP! Slots, myVEGAS Slots, myVEGAS Blackjack, my KONAMI Slots,
myVEGAS Bingo, and MGM Slots Live. The playAWARDS loyalty platform
enables players to earn real-world rewards from a global collection
of iconic hospitality, entertainment, and leisure brands.
playAWARDS partners include MGM Resorts International, Wolfgang
Puck, Norwegian Cruise Line, Resorts World, IHG Hotels &
Resorts, Bowlero, Gray Line Tours, and Hippodrome Casino among
others. Founded by a team of veteran gaming, hospitality, and
technology entrepreneurs, PLAYSTUDIOS apps combine the best
elements of popular casual games with compelling real-world
experiences. To learn more about PLAYSTUDIOS, visit
www.playstudios.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the company’s acquisition of WonderBlocks, its new
blockchain division playBLOCKS, its investments in Web3 companies,
and expected benefits. The company’s actual results may differ from
their expectations, estimates and projections and consequently, you
should not rely on these forward looking statements as predictions
of future events or results. Words such as “expect,” “estimate,”
“project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,”
“may,” “will,” “could,” “should,” “believes,” “predicts,”
“potential,” “continue,” and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results. Most of these factors are outside the company’s control
and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the market
acceptance of blockchain-based rewards and game features and the
company’s ability to monetize them; (2) costs related to the growth
and operation of the playBLOCKS division, including recruiting and
maintaining personnel with expertise in the field, and complying
with new and evolving rules and regulations; (3) the company’s
ability to execute its business plan for the use of blockchain
technologies and economic models in reward play and meet its
projections; (4) general economic, business, and/or competitive
factors; and (5) other risks and uncertainties included from time
to time in the company’s other filings with the U.S. Securities and
Exchange Commission (the “SEC”). Additional information will be
made available in other filings that the company makes from time to
time with the SEC. In addition, any forward-looking statements
contained in this press release are based on assumptions that the
company believes to be reasonable as of this date. The company
undertakes no obligation to update any forward-looking statements
to reflect events or circumstances after the date of this press
release or to reflect new information or the occurrence of
unanticipated events, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220803005332/en/
Investor Relations IR@playstudios.com
Media Relations Amy Rossetti media@playstudios.com
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