141
Indonesia-based gaming platform PlayGame secured an undisclosed amount of funding from the world's leading decentralized protocol TRON Foundation. TRON is a decentralized blockchain-based protocol that aims to build the world's free content entertainment website. The funding has also been injected by Achain, the public blockchain platform.
Pixabay SourceOffers Solutions to Developers
Launched in June 2018, PlayGame is founded by Anton Soeharyo, who was the former chief executive officer of Touchten Games, one of Indonesia’s leading game developers. The company offers solutions to game developers to fund their projects. The platform allows developers to acquire, retain and monetize their games to crypto-enthusiasts without having to worry about payment discrepancies. Using blockchain, the platform also aims to combat rampant piracy issues and allow developers to compete on the CPI (Cost-Per-Install) war.
According to reports, the investment from TRON is a part of its $100 million blockchain game fund Tron Arcade. The fund aims to empower developers to create and execute the ideas to introduce new games and content into an autonomous system.
How the Funding will Help
The funding is focused to help the company in its crypto payment gateway. Apart from assistance in infrastructure, the funding will also help company in its expansion plans in South East Asia, Japan, Korea, China, and other key-growth markets in Asia to simultaneously build partnership and alliances with strategic partners.
According to company, the partnership with Achain will help the company in capturing Chinese and East Asian markets through it strategic alliances with companies across the region. This will allow PlayGame to retain its PXG token as an ERC20 token, while it receives expertise and technical know-how in developing successful blockchain initiatives.
Journey Ahead
In a short span of time, the Jakarta-based company has successfully marked its growth in the gaming sector. With this round of funding, the company aims to overcome the hurdles such as lack of transparency, piracy issues, inefficient payment, calculation, and distribution often faced by game developers. Using PXG, game developers and gamers are guaranteed transparency within all activities and transactions.
The company had hit its ICO target of 600 million PXG token on the Tokenomy platform in September last year. This is not just it. In 2018, the company also signed a deal with The Walt Disney Southeast Asia. The collaboration existed across six countries in Southeast Asia: Indonesia, Singapore, Malaysia, the Philippines, Thailand, and Vietnam.
