Vietnam’s startup makes deal with world’s blockchain giant
Poriverse, a Vietnam metaverse game startup, has announced the establishment of a strategic partnership with a branch of Polygon (MATIC), one of the world's leading Blockchain platforms.
Built and developed in September 2021, Poriverse is a 100 percent ‘Make in Vietnam’ product as it was developed by Vietnamese engineers. They have more than 15 years of experience in game development and eight years of experience in Blockchain.
Following the success of Axie Infinity, ‘play to earn’ has been developing rapidly, becoming a growing tendency of the world’s blockchain industry. However, it has posed new challenges for players because it requires increasingly high initial investments.
As the prices of game characters are overly high, new players cannot join the market. And Poriverse has developed new ideas which can settle the problem.
The special feature of Poriverse is that game players can lease or borrow NFTs (non-fungible tokens) to play instead of spending big money to buy tokens like in other games.
Players pay rent for NFTs in accordance with prices negotiated in the ‘market’. However, all revenue created will belong to them. All of this is done under a public and transparent process guaranteed by Blockchain technology.
This allows players to reduce initial expenses, and they can have good NFTs at the beginning which helps increase bonus points. This is the first Blockchain-based game in the world that allows borrowing and lending of NFT.
Poriverse also provides a metaverse of games in which participants can create many different worlds, and design, own and make transactions with other players and developers.
According to Poriverse, the game has mobilized 600,000 USD worth of capital from investors all over the world. It’s expected that the demo version of Poriverse will be introduced later, shortly after IDO (Initial DEX (Decentralized Exchange) offering).
The establishment of a strategic relationship with Polygon Studios is considered a big success because this is an important part of Polygon (the Blockchain platform ranked 16th in the world in terms of capitalization value, $12 billion).
Polygon Studios is focusing on developing blockchain games, NFT and Web 3 through investments and marketing, and support for developers around the world.
Polygon Studios’ ecosystem includes many games and NFT projects well known in the world, such as OpenSea, Upshot, Aavegotchi, Zed Run, Skyweaver by Horizon Games, Decentraland, Megacryptopolis, Neon District, Cometh, and Decentral Games.
With the support of Polygon, Poriverse will have bigger opportunities to develop and reach out to the world market, which some other Vietnam-made games such as Axie Infinity, Bemil and Titan Hunters could also do.
In some Southeast Asian countries such as the Philippines and Malaysia, many people have had a stable income during the pandemic for two years now, thanks to Vietnamese games.
According to experts, despite being at the top in the region for online games, many Vietnamese businesses are registered and pay tax in Singapore instead of Vietnam.