42 mins ago · 2 min read
This mobile eSports platform is using NFTs as prizes within its ecosystem
In October, MegaFans announced that it would use NFTs and cryptocurrency as prizes for its mobile eSports games.
MegaFans, a mobile gaming company headquartered in Southern California, announced that they distributed the world’s first NFTs (non-fungible tokens), as prizes to players, from a mobile eSports platform.
The company began testing offers with Bitcoin in September to gauge market response, which was strong, so they quickly moved to include NFTs as part of the company’s plan to integrate into the metaverse market and become the first mobile eSports platform in that space.
MegaFans also tested distribution options for a sustainable, scalable model and is currently using Open Sea, the largest NFT marketplace for peer-to-peer transactions, as well as Polygon, a multi-blockchain system that solves for high gas fees in a secure environment.
The model proved to be successful this week when the company distributed the first NFTs within their mobile eSports environment as MegaFans is entertaining offers to integrate with other metaverse platforms.
MegaFans offers free-to-play and play-to-earn options ranging from quick-play contests to monthly tournaments with larger prize pools up to $5,000 (USD). The pools scale up as community participation grows and players win virtual tokens that can be exchanged for other cryptocurrencies, NFTs, gift cards, or cash.
The company also uses a leaderboard format that features multiple tournaments simultaneously, to an infinite number of players globally, no matter what skill level or geo-location.
MegaFans CEO and Founder Jeff Donnelley said:
“Being first to market in the blockchain space is both enthralling and humbling! We’re bridging mobile eSports games with digital currencies in a way that hasn’t been done yet. This is the forefront of the metaverse and we (MegaFans) are pioneering technology that opens up emerging and untapped markets.”
Launchpool Labs Incubation
MegaFans recently joined the Launchpool Labs incubator program where they are receiving strategic and technical support to help grow their growing community of gamers and collectors.
Launchpool Labs incubator is a 90-day intensive development program focused on building communities and value around startups in the blockchain sector.
Launchpool Labs MD, Roxana Nasoi said:
“eSports metaverse games are novel in the P2E (play-to-earn) environment, in a market that is seeing a real boom in terms of gaming, NFTs, and crypto. Majority of projects out there tap into the web browser or PC opportunity, while Megafans is going fully mobile, granting them first-mover advantage. The team has proven track records in mobile esports fantasy games, and we’re excited to support them in entering the gamefi space.”