STOCK TITAN

GameOn Receives $GAME Grant From Sportsology for Platform Integration

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
GameOn, a next-generation fantasy sports company, has received a grant funding from Sportsology, resulting in the acquisition of 59,000,000 $GAME tokens. The partnership aims to integrate the $GAME platform into major league projects to enhance fan engagement and drive revenue growth. GameOn LALIGA has already gained significant traction on social media, and the $GAME platform is set to launch on Arbitrum in Q2. The finalized software development and support agreement is expected to generate $9.3m over five years. This partnership positions GameOn to reach masses of sports fans and capitalize on the growing popularity of fantasy sports.
Positive
  • None.
Negative
  • None.

VANCOUVER, BC, Feb. 1, 2024 /PRNewswire/ -- GameOn (CSE: GET) (OTCQB: GMETF), a next generation fantasy sports company partnered with the world's best sports leagues to launch, operate, and monetize web3 games, today announces grant funding from Sportsology.

This partnership puts the first supply of $GAME in the hands of GameOn and soon masses of sports fans - Matt Bailey, CEO

The grant will see GameOn receive 59,000,000 $GAME tokens. In return, GameOn will integrate the $GAME platform into upcoming major league projects to provide unified experiences and rewards across its ecosystem, including GameOn LALIGA and GameOn PFL. $GAME, which GameOn is developing in partnership with Sportsology, is designed to drive fan engagement and revenue growth for game developers and sports leagues worldwide.

GameOn LALIGA recently launched on social media, amassing more than 200,000 video views and a community of over 80,000 across X, Discord, email, and waitlist in less than two weeks. GameOn LALIGA's first mint is scheduled for February, with an exact date and time to-be-announced.

GameOn also recently announced a grant from Arbitrum, the leading Layer 2 (L2) scaling solution for Ethereum, with a market cap of more than $2b. $GAME is planned to launch on Arbitrum in Q2, off the back of a string of successful game token launches like XAI.

This news is following the finalized software development and support agreement between the parties, which drives $2.3m from development fees and $1.4m in annual recurring revenue, with a total expected value of $9.3m over five years.

"$GAME is a natural fit for our ecosystem of next-gen fantasy games, launched with the best sports leagues in the world," said Matt Bailey, CEO at GameOn. "This partnership puts the very first supply of $GAME in the hands of GameOn and soon masses of sports fans."

To hear more, join GameOn CEO Matt Bailey for live commentary and Q&A on GameOn's shareholder Telegram channel today at 2:30 PM ET / 11:30 AM PT.

GameOn partner, LALIGA, is the world's most-followed soccer league on social media, with a global community of over 200 million fans, while PFL is the number two MMA company in the world, having recently acquired Bellator and signed superstars Jake Paul and Francis Ngannu.

On Behalf of the Board of Directors:
Matt Bailey, Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
matt@gameon.app

About GameOn
GameOn (CSE: GET) (OTCQB: GMETF) partners with the world's best sports, media, and entertainment IPs to launch brand-building, money-making next-gen games. We turn fans into superfans - engaging, retaining, and monetizing audiences. With a diverse team of gaming, sports, and web3 veterans with experience at Take-Two Interactive, Twitch, EA, Dapper Labs, and the Brooklyn Nets, our platform is executed at scale with millions of users, gameplays, and revenue. GameOn has partnered with NBCUniversal, Bravo, LALIGA, PFL, Karate Combat, the WNBA, Times Internet, DICK'S Sporting Goods, and Gaming Society.

Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions. All statements other than statements of historical facts contained in this news release are forward looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company, execution of business strategy, future performance and future growth, business prospects, synergies and opportunities of the Company and its related subsidiaries, and other factors beyond the Company's control.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to the Company being able to capitalize on the acquired assets, the ability of acquired assets to maintain its value as presently contemplated, the synergies of the acquired assets with the Company's operations, and such other assumptions presented in the Company's disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and GameOn disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/gameon-receives-game-grant-from-sportsology-for-platform-integration-302050312.html

SOURCE GameOn Entertainment Technologies Inc.

FAQ

What is the grant funding announcement about?

The grant funding from Sportsology has enabled GameOn to acquire 59,000,000 $GAME tokens, aiming to integrate the $GAME platform into major league projects to enhance fan engagement and drive revenue growth.

What are the upcoming launches for GameOn LALIGA?

GameOn LALIGA is set to launch its first mint in February, with an exact date and time to be announced.

What is the significance of the partnership with Arbitrum?

The partnership with Arbitrum, a leading Layer 2 scaling solution for Ethereum, is expected to result in the launch of $GAME on Arbitrum in Q2.

What is the expected financial impact of the finalized software development and support agreement?

The agreement is projected to generate $9.3m over five years, including $2.3m from development fees and $1.4m in annual recurring revenue.

Who is the CEO of GameOn?

The CEO of GameOn is Matt Bailey.

GAMEON ENTMT TECHNOLOGIES

OTC:GMETF

GMETF Rankings

GMETF Latest News

GMETF Stock Data

1.00M
46.62M
31.62%
Electronic Gaming & Multimedia
Communication Services
Link
United States of America
Vancouver