VANCOUVER, BC, November 22, 2023 /PRNewswire/ — Game enabled (CSE: GET) (OTCQB: GMETF), a next-generation fantasy sports platform partnering with the world’s top sports leagues to launch, operate and monetize Web3 games, today announces that it has entered into a letter of intent to enter into a software development and support agreement with Sportsology, subject to final documentation. . The agreement will lead $2.3 million development costs in the fourth quarter, as well as $1.4 million of annual recurring revenue from 2024. The expected total value of the transaction is $9.3 million over five years, with the partnership expected to develop and generate new opportunities.
As part of the deal, 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 around the world. $GAME will enhance player experience in sports-specific games such as fantasy games, prediction games, card battle games and sports. bet games, as well as others where relevant as the ecosystem matures. Developers will use $GAME to ensure interoperability between games, distributed rewards, true asset ownership, and other benefits for sports fans and gamers.
Sportsology will benefit from GameOn’s extensive experience in developing Web3-based intellectual property, with proven expertise in sports and gaming.
Once operationalized by Sportsology, GameOn plans to leverage $GAME to deliver unified experiences and rewards across its ecosystem of gaming products, including for THE LEAGUE And PFL. As the exclusive developer of the platform, in partnership with Sportsology, GameOn will benefit from privileged access to $GAME and its capabilities. More details on how $GAME will be integrated and provide benefits to fans will be announced in the near future.
“$GAME will change the way we play, helping us bring next-gen games to millions of fans around the world,” said Matt Bailey, CEO of GameOn. “This is a genuine, scalable opportunity that is expected to deliver highly profitable growth and a first-mover advantage for GameOn.”
GameOn recently announced partnerships with THE LEAGUE And PFL and hopes to provide more news by the end of the year. Management intends to share further detailed guidance on revenue projections in December through a soon-to-be-announced webinar.
To learn more, join GameOn on X (formerly Twitter) Spaces today at 2:30 p.m. ET / 11:30 a.m. PT.
On behalf of the board of directors:
Matt Baileydirector and CEO
GameOn Entertainment Technologies Inc.
Game enabled (CSE: GET) (OTCQB: GMETF) partners with the world’s best IPs across sports, media and entertainment to launch next-generation games that build brand strength and make money. 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 Brooklyn Nets, our platform runs at scale with millions of users, gameplays and income. 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.
Sportsology Ltd is a newly incorporated company that will operate $GAME, the next generation 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 around the world, supporting and growing the sports gaming community and ecosystem. Sportsology is at the forefront of the evolving adoption of Web3 in a context familiar to fans and players.
This press 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 the use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “s ‘expects’, ‘plans’. , “, “projects” and similar expressions, as well as the negative of these expressions. All statements other than statements of historical fact contained in this press release are forward-looking statements. Forward-looking information contained in this press release includes, without limitation, statements regarding the Company’s future plans and objectives, execution of business strategy, future performance and future growth, business prospects, synergies and opportunities of the Company and its subsidiaries related, and other factors beyond the control of the Company.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied. by this forward-looking information. Forward-looking information is based on management’s reasonable assumptions, estimates, analyzes and opinions expressed in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes. relevant and reasonable in the circumstances at the time such statements are made, including, but not limited to, the ability of the Company to capitalize on the development of $GAME, the ability of the $GAME platform to operate as currently contemplated, the success of commercial adoption of the Company’s products, and such other assumptions presented in the Company’s disclosure filing. 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 materially different from those contained in forward-looking information. those planned. 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. Therefore, readers should not place undue reliance on forward-looking information. All forward-looking information contained herein is qualified in its entirety by this cautionary statement, and GameOn undertakes no obligation to revise or update such forward-looking information or to publicly announce the result of any revision of any of the forward-looking information contained in this document. to reflect future results, events or developments, except as required by law.
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SOURCE GameOn Entertainment Technologies Inc.