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About GameOn Entertainment Technologies (GMETF)
GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) is a pioneering company at the forefront of fantasy sports and web3 gaming, delivering next-generation interactive experiences that engage, retain, and monetize audiences. Founded in 2018, GameOn leverages blockchain technology to redefine how fans interact with their favorite sports, teams, and players, offering a seamless blend of traditional fantasy sports and cutting-edge digital asset ownership.
Core Business Model
GameOn's platform focuses on transforming casual sports fans into superfans through immersive, gamified experiences. The company partners with leading sports leagues, media companies, and entertainment IPs to develop branded fantasy sports games. These games integrate blockchain-based features, including NFTs and utility tokens, enabling fans to own, trade, and interact with digital assets tied to real-world sports events.
GameOn generates revenue through multiple channels, including:
- Partnership Agreements: Collaborations with globally recognized sports leagues such as LALIGA, Professional Fighters League (PFL), and Karate Combat.
- Token Ecosystem: The $GAME token, developed in partnership with Sportsology, functions as the backbone of its gaming ecosystem, offering rewards, in-game purchases, and voting rights for platform features.
- Licensing and Monetization: Licensing its gaming infrastructure to partners and monetizing user engagement through premium features and digital asset sales.
Industry Context and Differentiation
Operating within the highly competitive gaming and blockchain industries, GameOn differentiates itself through its unique integration of web3 technologies. By leveraging Layer 2 blockchain solutions such as Arbitrum, the company addresses scalability and cost challenges associated with Ethereum-based platforms. Its partnerships with high-profile sports organizations provide a significant competitive edge, allowing it to offer exclusive content and experiences unavailable on traditional fantasy sports platforms.
GameOn's focus on community building further strengthens its market position. Through active engagement on platforms like Discord and X (formerly Twitter), the company has cultivated a robust online presence, boasting a community of over 100,000 members. This community-centric approach enhances user retention and fosters a loyal fan base.
Products and Services
GameOn's offerings include:
- Fantasy Sports Games: Interactive games that allow users to compete and win rewards based on real-world sports results.
- Digital Asset Ownership: Player avatar NFTs and other digital collectibles that enhance gameplay and provide true asset ownership.
- Tokenized Ecosystem: The $GAME token enables unified rewards, in-game purchases, and community governance.
Challenges and Opportunities
While GameOn's innovative approach offers significant growth potential, it also faces challenges such as regulatory scrutiny of blockchain technologies and the need for widespread user adoption of web3 platforms. However, its partnerships with established sports organizations and its focus on scalability and user experience position it well to navigate these challenges.
Conclusion
GameOn Entertainment Technologies (GMETF) is a trailblazer in the fantasy sports and web3 gaming sectors, offering unique, engaging experiences that bridge the gap between traditional sports fandom and blockchain innovation. With its robust partnerships, cutting-edge technology, and community-driven approach, GameOn is redefining the landscape of fantasy sports and digital engagement.
GameOn Entertainment Technologies Inc. (OTCQB: GMETF) provided an update regarding a management cease trade order (MCTO) application with the British Columbia Securities Commission. Due to delays in finalizing the audit following an auditor change and ongoing efforts related to web3 revenue and grants, the company’s Annual Filings for the fiscal year ended December 31, 2022, are not expected by the May 1, 2023, deadline. The company aims to submit these filings by May 30, 2023, and will provide updates accordingly. During the MCTO, the CEO and CFO will not be able to trade the company's shares; however, the general public can still trade. The company also plans to issue 7,260,080 warrants priced at $0.06, expiring in two years.
GameOn Entertainment Technologies Inc. (CSE: GET, OTCQB: GMETF) announced a delay in finalizing its annual financial statements for the fiscal year ended December 31, 2022, due to ongoing audit complications. The company expects the annual filings to be completed by May 30, 2023, and has applied for a Management Cease Trade Order (MCTO) from the British Columbia Securities Commission. The delays are attributed to additional reporting requirements related to web3 revenue and a change in auditors. During the MCTO, the company’s CEO and CFO will be prohibited from trading shares, but public trading can continue. GameOn will issue bi-weekly status updates until the filings are complete, complying with alternative information guidelines outlined by securities laws.
GameOn (CSE: GET) (OTCQB: GMETF) announced a non-dilutive grant from The HBAR Foundation to support the launch of its web3 game, Karateka, on the Hedera network. The funding will bolster GameOn's PLAYN3XT platform, aimed at enhancing brand engagement through NFT-powered games. The partnership with Hedera positions GameOn to leverage a network backed by notable organizations and further validates its strategic focus on web3 consumer engagement.
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