Abu Dhabi-based game and technology provider Param Labs and Hong Kong-based gaming firm Animoca Brands have on Wednesday announced a strategic partnership to leverage Animoca Brands’ expertise to bolster Param Labs’ go-to-market strategy, particularly in the area of launching innovative Web3 products, and to refine Param Labs’ blockchain and token economy design.
As part of the partnership, Param Labs is introducing its Pixel To Poly platform to selected Animoca Brands’ projects and portfolio companies, enabling the transformation of 2D art into 3D game-ready assets, Animoca Brands said in a statement.
According to the statement, this service aims to revolutionize game asset creation by using artificial intelligence (AI) to streamline the transition to advanced design dimensions.
Param Labs is an Abu Dhabi-based development studio focused on developing video games and infrastructure to power the next generation of gaming.
Some of its notable products include Kiraverse, a Web3 TPS, and Pixel To Poly, the leading platform for transforming 2D NFTs into 3D game-ready files for use in GTA V, Fortnite Creative Mode, and beyond.
The firm is preparing for several exciting initiatives, including a free-mint non-fungible token (NFT) launch and the release of its litepaper, which will detail its game economy and infrastructure.
This includes a network of Layer 2 and Layer 3 solutions with parallelized VMs such as Move and SVM, leveraging Param Labs’ innovative Web3 framework utilizing modular blockchain architecture.
According to the statement, this collaboration signifies a major leap for Param Labs and the broader Web3 gaming ecosystem in MENA.
With Animoca Brands’ support, Param Labs is well positioned to break new ground in the Web3 and gaming sectors.
“We’re thrilled to announce a partnership that accelerates Param Labs and the entire gaming industry,
“United with Animoca Brands by a shared vision of ensuring gamers derive true value from their gaming experiences, this collaboration marks a pivotal step in redefining the gaming landscape,” said Anthony Anderson, Founding Partner of Param Labs.
Yat Siu, Co-Founder and Executive Chairman of Animoca Brands, said :” We’re excited to partner with Param Labs to advance digital property rights in gaming, bringing us a step closer to realizing the vision of the truly open metaverse.”
“This collaboration aligns with our shared vision to redefine the gaming landscape, ensuring that gamers are the true owners of their digital assets,
“Together, we’re working to transform the industry, emphasizing the value of gamer experiences and ownership,” he added.
Animoca Brands is a Web3 leader that leverages blockchain to deliver digital property rights to consumers around the world to help to establish the open metaverse.
The company develops and publishes a broad portfolio of products including original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, and Crazy Defense Heroes, and products utilizing popular intellectual properties from the worlds of sports and entertainment, such as The Walking Dead, Power Rangers, MotoGP™, and Formula E.
It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Darewise Entertainment, Notre Game, TinyTap, Be., PIXELYNX, WePlay Media, Gryfyn, and Azarus.
Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments, both directly and through Animoca Ventures, including Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more.
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