Param Laabs and Pixelverse Enter A Cross-IP Agreement To Extend Development Across The Web3 Gaming Universe

The cross-licensing agreement between the Web 3 gaming platforms will include Pixelverse characters in the upcoming Param Labs-developed game, Kiraverse.

Param Labs , an independent game and infrastructure development company with ties to Animoca Brands, announced a strategic cross-IP partnership with Pixelverse , a Web 3 cyberpunk-themed game ecosystem. The partnership is aimed at bringing real utility to the Web 3 gaming metaverse and rewarding the most loyal gamers on both platforms.

According to the team statement, the cross-licensing agreement sees Pixelverse IP integrated into Param Labs’ upcoming shooter game, Kiraverse. The free-to-play game allows players to compete and earn digital assets in competitive game modes or participate in an exciting open-world experience.

Pixelverse CEO Kirill Volgin believes the collaboration will help welcome new players to the Web 3 gaming universe. Speaking on the strategic collaboration with Param Labs, Kirill added:

“Collaborating with Param Labs brings real utility to the Web3 community. We are excited for our players to enjoy their favourite characters in Kiraverse, reflecting the true spirit of Web3 integration.”

The integration of Pixelverse’s IP is expected to enhance Kiraverse’s overall gameplay and narrative as well as expand its universe. Notwithstanding, the partnership aims at rewarding their most loyal and active players, ensuring the players are fairly rewarded and equitable distribution of their respective tokens to early gamers.

Unlike the current airdrop distribution model, the partners want to offer more committed gamers a chance to earn the biggest rewards. The partnership offers more utility through game asset rewards, allowing loyal and committed players to earn the ‘airdropped tokens’. This innovative approach aligns with their shared commitment to fostering a vibrant and engaged Web3 gaming community.

The cross-IP partnership will enable Pixelverse characters to be seamlessly integrated into Kiraverse. This opens up the door for over 500,000 monthly active users (MAU) on Pixelverse to join the set-to-launch game and play with the skin of their favourite character. In addition, the partnership will see the two share expertise and leverage each other’s strengths to increase value within their platforms and enhance engagement opportunities for their respective players.

The latest partnership by Param Labs follows a $7 million capital raise earlier this month, led by Animoca Brands, with participation from other top crypto VCs, including Delphi Ventures and Mechanism Capital. Param Labs also announced their native token will be listed on HTX Global on May 29th, 2024, giving potential investors a new route to trade and buy the token.

Via the partnership, Pixelverse and Param Labs aim to drive mass adoption of Web 3 gaming and create a more engaging and rewarding experience for players worldwide.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.