VANCOUVER, BC, Nov. 22, 2023 /PRNewswire/ — GameOn (CSE: GET) (OTCQB: GMETF), a next generation fantasy sports platform partnered with the world’s best sports leagues to launch, operate, and monetize web3 games, today announces that it has entered into a letter of intent to complete a software development and support agreement with Sportsology, subject to final documentation. The agreement will drive $2.3m from development fees into Q4, as well as $1.4m in annual recurring revenue from 2024 onward. The total expected value of the deal is $9.3m over five years, with the partnership anticipated to grow and garner further opportunities.
GameOn Partners With Sportsology to Develop Next-Gen Fantasy Sports $GAME Infrastructure.
As part of the agreement, GameOn is developing a fantasy sports infrastructure called $GAME. The platform is designed to drive fan engagement and revenue growth for game developers and sports leagues worldwide. $GAME will enhance the player experience in sports-specific games such as fantasy games, predictor games, card battle games, and sports betting games, as well as others where relevant as the ecosystem matures. Developers will use $GAME to provide interoperability between games, distributed rewards, true ownership of assets, and other benefits to sports fans and gamers.
Sportsology will benefit from GameOn’s vast experience in web3-based intellectual property development, with proven domain expertise in sports and games.
Once operationalized by Sportsology, GameOn expects to leverage $GAME to provide unified experiences and rewards across its ecosystem of game products, including for LALIGA and PFL. As the exclusive developer of the platform, in partnership with Sportsology, GameOn will gain first-mover access to $GAME and its capabilities. More details on how $GAME will be integrated and provide benefits for fans will be announced in the near future.
“$GAME will change the way we play, helping us deliver next-gen games to millions of fans worldwide,” said Matt Bailey, CEO at GameOn. “This is an authentic and scalable opportunity that is projected to drive highly-profitable growth and a first-mover advantage for GameOn.”
GameOn recently announced partnerships with LALIGA and PFL and expects to deliver more news by end-of-year. Management intends to share new and detailed guidance on revenue projections in December by way of a soon-to-be-announced webinar.
To hear more, join GameOn on X (formerly Twitter) Spaces today at 2:30 PM ET / 11:30 AM PT.
On Behalf of the Board of Directors:Matt Bailey, Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
[email protected]
About GameOnGameOn (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. Learn more about our PLAYN3XT platform.
About SportsologySportsology Ltd is a newly incorporated company that will operate $GAME, the next-gen fantasy sports infrastructure for game developers and sports leagues. Sportsology’s mission is to increase fan engagement and revenue for game developers and sports leagues worldwide, supporting and growing the sports gaming community and ecosystem. Sportsology is at the forefront of scalable web3 adoption in a context that fans and gamers are familiar with.
Forward-Looking InformationThis 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 development of $GAME, the ability of $GAME platform to function as presently contemplated, the success of the commercial adoption of the Company’s products, 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.
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SOURCE GameOn Entertainment Technologies Inc.
