GameOn a next generation fantasy sports platform partnered with the world's best sports leagues to launch, operate, and monetize web3 games, today announces that it has entered into a letter of intent to complete a software development and support agreement with Sportsology, subject to final documentation. The agreement will drive $2.3m from development fees into Q4, as well as $1.4m in annual recurring revenue from 2024 onward. The total expected value of the deal is $9.3m over five years, with the partnership anticipated to grow and garner further opportunities.

As part of the agreement, GameOn is developing a fantasy sports infrastructure called $GAME. The platform is designed to drive fan engagement and revenue growth for game developers and sports leagues worldwide. $GAME will enhance the player experience in sports-specific games such as fantasy games, predictor games, card battle games, and sports betting games, as well as others where relevant as the ecosystem matures. Developers will use $GAME to provide interoperability between games, distributed rewards, true ownership of assets, and other benefits to sports fans and gamers.

Sportsology will benefit from GameOn's vast experience in web3-based intellectual property development, with proven domain expertise in sports and games.

Once operationalized by Sportsology, GameOn expects to leverage $GAME to provide unified experiences and rewards across its ecosystem of game products, including for LALIGA and PFL. As the exclusive developer of the platform, in partnership with Sportsology, GameOn will gain first-mover access to $GAME and its capabilities. More details on how $GAME will be integrated and provide benefits for fans will be announced in the near future.

"$GAME will change the way we play, helping us deliver next-gen games to millions of fans worldwide," said Matt Bailey, CEO at GameOn. "This is an authentic and scalable opportunity that is projected to drive highly-profitable growth and a first-mover advantage for GameOn."

GameOn recently announced partnerships with LALIGA and PFL and expects to deliver more news by end-of-year. Management intends to share new and detailed guidance on revenue projections in December by way of a soon-to-be-announced webinar.

To hear more, join GameOn on X (formerly Twitter) Spaces today at 2:30 PM ET / 11:30 AM PT.

 

Source:prnewswire.com

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