MetaKit is full-service web3 infrastructure solution that houses a suite of products to run play-to-earn games' economy on the blockchain
VANCOUVER, British Columbia, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Pioneer Media Holdings Inc. (NEO: JPEG, AQSE: PNER) ("Pioneer" or the "Company"), a web3 gaming and infrastructure company, is excited to announce that it recently launched MetaKit, its proprietary web3 gaming infrastructure and conversion technology suite of products to assist game developers run play-to-earn ("P2E") on the blockchain.
In March 2022, Pioneer acquired Crowdform, a digital product and venture activation studio which has been integrated as Pioneer's digital development studio and the technology backbone of the Company's complete web3 gaming ecosystem which includes content and game development; infrastructure and web2 conversion; and distribution and global publishing.
MetaKit is Pioneer's core software technology and a proprietary game infrastructure framework for game developers that removes the friction of player onramps and increases each game's likelihood of success. With MetaKit, game developers can cut production time and decrease development costs associated with game builds as well as accelerate go-to-market strategies.
Web3 gaming is a fast-growing sector and at the forefront of a new wave of technology, with US$10.2Bn projected to be invested in blockchain gaming in 2022, compared to $4Bn in 20211. Pioneer is focused on developing quality web3 gaming experiences for players and gaming communities within a trusted and safe ecosystem.
Darcy Taylor, CEO of Pioneer commented, "Over the past year, we have focused on integrating the strategic acquisitions we made earlier in the year into our complete web3 gaming ecosystem. We feel strongly that there is a serious opportunity within web3 gaming to provide best in class gaming experiences with credible, quality P2E games. I am very encouraged with the positive traction and progress the team has made with our redefined corporate growth strategy to be a web3 gaming and infrastructure leader in the industry, and now that we have a strong framework and foundation built, we can focus on driving growth and scale for the remainder of the year. Our strategic priorities include launching our robust pipeline of content and P2E games in market, developing new, innovative web3 infrastructure technology through MetaKit and our in-house development studio and securing strategic distribution partnerships to push our P2E game portfolio to mass markets. We look forward to providing updates on our progress executing on these priorities."
1.https://dappradar.com/blog/dappradar-x-bga-games-report-4-blockchain-games-continue-to-ascend-despite-collapsing-markets
MetaKit was designed for game development studios to seamlessly integrate web3 conversion technology into workflow, tools and languages already used in games. MetaKit provides the building blocks for game economies, inventory, currencies, player-ownership. The proprietary suite of technology solutions includes: single sign-on solution for blockchain games that allows users to play with NFTs across multiple wallets, NFT rental and in-game marketplace, web3 payment processing platform and frictionless subscription solutions and more.
Pioneer intends to grow the usage of MetaKit through the success of its customers' games and applications, in which their usage of Pioneer's services will grow in line with their end-user adoption and engagement. Pioneer will leverage partners success growing loyal communities which will increase the usage and engagement of Pioneer's platform. Pioneer will continue to drive growth though increasing the scope of services within existing customers and acquiring new customers using Metakit. The more their gamers are retained through Pioneer's tools and the more time spent in their respective games, the more revenue Pioneer will derive from such offered services. Currently, Pioneer offers its MetaKit platform primarily through license, revenue-share and usage-based fee models. This will allow Pioneer to generate revenue from its customers as they develop games and as they succeed and grow. For more information on Metakit, visit https://www.metakit.games
About Pioneer Media Holdings Inc.
Pioneer (NEO:JPEG, AQSE:PNER) is a leading web3 gaming and infrastructure company using its proprietary suite of technology, MetaKit, to build and convert games and applications for the blockchain. Pioneer has built a complete web3 gaming ecosystem which includes content and game development; infrastructure and web2 conversion; and distribution and global publishing. Through strategic distribution partnerships, Pioneer will continue to focus on launching successful play to earn (P2E) games to mass markets globally, and drive user engagement and adoption and therefore meaningful revenue generation.
Web3 gaming is at the forefront of a new wave of technology and there is significant opportunity for growth as an early adopter in the industry. Even in its infancy, there is a significant influx of capital, both public and private, and attention on the bourgeoning sector. Additional information about Pioneer is available at www.p10neer.comor www.sedar.com.
ON BEHALF OF PIONEER MEDIA HOLDINGS INC.
"Darcy Taylor"
CEO & Director
ir@p10neer.com
First Sentinel Corporate Finance Ltd (AQSE Corporate Adviser)
Brian Stockbridge +44 7876 888 011
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the matters described herein. Forward-looking statements consist of statements that are not purely historical, and such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.
