Esports-focused video blockchain protocol Verasity has partnered with Play to Earn blockchain game Axie Infinity for the FTX GalAxie Cup 2021.
As a result of the partnership, Axie Infinity will utilise Verasity’s video streaming and patented blockchain technology. The blockchain game’s first esports tournament boasts roughly £480,000 worth of cryptocurrency in prizing.
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Axie Infinity is a highly popular NFT-based Pokemon-style game built on the Ethereum blockchain. The game notably popularised Play to Earn, an emerging video game business model where users can earn income by playing games.
Verasity is a protocol and product layer blockchain platform focused on esports and video entertainment. Its video sharing platform uses a patented ‘Proof of View’ blockchain technology to deliver accurate audience metrics by preventing fake views, bots and ad-fraud.
Via a ‘watch and earn’ model, it also offers incentives to viewers to drive engagement and monetisation of video content.
Axie Infinity’s entry into esports will see a 5000 AXS (~£480,000) prize pool up for grabs. The event will be exclusively streamed on galaxiecup.com and veraesports.com using Verasity’s VeraPlayer.
Andrew Campbell, Axie Infinity’s Program Lead for Esports & Content Creators, spoke on the announcement in a release: “This pre-season of Axie Esports with 5000 AXS in prize money has illuminated an incredible foundation for our competitive scene.
“Tournament organisers around the world have been hosting amazing community events that continue to bring out the best in our community. As our community further pushes the envelope, we will be furthering our investments in building out infrastructure to support Axie Esports.”
In addition to granting VeraEsports exclusive broadcast rights for the FTX GalAxie Cup 2021 and facilitating the usage of the VeraPlayer for the event, the partnership will also enable viewers to earn special rewards on the VeraEsports Rewards Store.
Custom Axie Infinity NFTs (AXIES) for the event and $VRA tokens will be available for redemption, along with other exclusive items.
Verasity CEO RJ Mark commented: “We are excited to showcase our VeraPlayer for the FTX GalAxie Cup 2021. During this event, real-time third-party data will be fed into Verasity’s patented Proof of View system.
“Aside from showcasing our technology, we believe that cross-collaboration of blockchain projects will be beneficial to all parties involved and we are excited for this opportunity and what may come in the future.”
Esports Insider says: Axie Infinity is huge in the blockchain world and is the crown jewel of the Play to Earn movement. It is incredibly interesting to see Vietnamese developers Sky Mavis moving its popular title into esports — perhaps as an effort to ensure longevity if, or when, the immense hype dies down.