14 February 2024 –Param Labs, a leader in game and technology development, and Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, today 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.
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.
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. This service aims to revolutionize game asset creation by using AI to streamline the transition to advanced design dimensions.
Param Labs is preparing for several exciting initiatives, including a free-mint 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.
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.
Anthony Anderson, founding partner of Param Labs, commented: “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.”
Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “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.”
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About Param Labs
Param Labs is at the forefront of leveraging artificial intelligence and blockchain technologies to advance the rapidly growing $200B+ gaming industry. By addressing some of the most significant challenges believed to limit the sector’s long-term growth, Param Labs is setting new standards for innovation and user engagement. Its ecosystem is crafted to provide gamers with digital ownership over their gaming assets, and to enable the creation of user-generated value across their experiences. With a keen focus on solving apparent issues in the gaming world, Param Labs designs products that not only aim to seamlessly integrate millions of new users into the benefits of Web3 technology but also to empower individual creators and studios. The team is dedicated to developing the necessary tools for effortlessly utilizing the advantages of emerging technologies, paving the way for the future of the gaming industry. Through its efforts, Param Labs is positioned as a pivotal player in transforming how gamers interact with digital content, promoting a more inclusive and dynamic gaming environment. To learn more visit www.paramlabs.io or follow on X (Twitter).
About Animoca Brands
Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, 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. For more information visit www.animocabrands.com or follow on X (Twitter) or Facebook.
Contacts
Param Labs: [email protected]
Animoca Brands: [email protected]
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