CBI Enters into Strategic Partnership Agreement with Chain Games, Publisher of Skill-Based and Play-to-Earn Games
- Creation of virtual universes dedicated to skill-based and Play-to-Earn games in AlphaVerse, the CBI metaverse
- US$2 million license fee to CBI
- Consulting agreement in the blockchain universe
CRYPTO BLOCKCHAIN INDUSTRIES (CBI, Euronext Growth Paris: FR0014007LW0, ALCBI) announces that it has contracted a series of strategic partnership agreements with Chain Games, a publisher of skills-based games (spell in which players can pay entrance fees to compete against other users for prizes based on their own performance) and play-to-earn games (games where a portion of the revenue is distributed among players based on their respective levels) all on the blockchain. The agreements include several stages, the initial being the creation of virtual universes dedicated to these games and the development of content in AlphaVerse, with a license fee from $2 million being paid to CBI; an advisory agreement focused on business development in the field of blockchainwhereby Chain Games will receive 1.5 million CBI shares; and various conditions through which CBI can acquire a minority shareholding in Chain Games by December 31, 2022.
The first phase envisioned by these agreements is the development of skill-based and Play-to-Earn universes, games and content in AlphaVerse. According to the agreements, Chain Games will have a virtual space in the AlphaVerse hub. CBI has received a $2 million license fee paid in Chain Games tokens. This virtual space (Arena) is located in the Hub, the central point of AlphaVerse, and is accessible to all participants and gamers. This arena will be mainly dedicated to skill-based and earnable games and NFTs from the Chain Games catalog. Chain Games will also develop its own universe dedicated to larger skill-based and earnable games. This universe will be linked to the central AlphaVerse hub and will contain proprietary content from Chain Games and licensed NFTs. In these virtual universes, the revenue is divided between CBI and Chain Games based on a formula established by the parties that explains the origin of the players.
For the second phase of this venture, the parties have drawn up an advisory agreement focused on business development. Chain Games will provide advice to CBI, which plans to rely on Chain Games’ expertise and network to advance the development of its blockchain ecosystem. The 5-year action plan provides for identifying and organizing meetings with potential partners, in particular: development studios, marketing specialists and the creation of strategic alliances. For this advisory contract, Chain Games will be paid by receiving 1.5 million CBI shares and CRYSTAL tokens, AlphaVerse’s cryptocurrency.
For the final phase of this partnership, CBI has been given the option to acquire up to 2.5% of the share capital of Chain Games, based on a valuation of Chain Games to be determined, which will remain in effect until December 31, 2022.
The agreements between the parties also provide for various scenarios that could lead to increased acquisition capacity using a similar formula and valuation that is intended to remain in effect until December 31, 2022, within the strict limits set by the contracts and subject to the available CBI’s resources.
Adam Barlam. CEO of Chain Games, said: “After seeing live demos and the great quality of their soon-to-be-released AlphaVerse, we knew we had to be a part of it and join forces with the CBI team! Their metaverse is without a doubt the most advanced we’ve seen, and we’re grateful to be included with the Chain Games Arena and our very own Chain Games Island. The opportunity to introduce users to this metaverse and to the Chain Games platform is huge, and we’re excited about how it will raise the stakes in immersive multiplayer experiences.”
Frédéric Chesnais, Chairman and CEO of CBIsaid: “I am excited to partner with Chain Games and its talented team, and to bring these strategic agreements to fruition to create new content for AlphaVerse. development on the blockchain, which allows players to compete against each other within existing hit games, fighting games, as well as single player and car racing games and has its place within AlphaVerse. These initiatives and the chosen business model also illustrate the new possibilities that the blockchain and the crypto- ecosystem. These are initiatives that are of particular interest to us and our goal is to extend this type of business model into other areas of blockchain as well.”
This statement contains forward-looking statements and assumptions and should not be considered investment or other advice. The realization of projects, as well as their operational budget and financing plan, remain fundamentally subject to: numerous uncertainties and failure to realize the underlying assumptions can have a significant impact on the value of assets and liabilities.
About Chain Games
Chain Games is a blockchain-integrated gaming network that enables decentralized skill games, play-to-win and play-to-earn title matches, allowing gamers to earn cryptocurrency for their efforts. Chain Games is developing a full-featured SDK (Software Development Kit) to help AAA studios and indie developers integrate into the blockchain gaming ecosystem, allowing them to easily seamlessly connect their current, past and future titles to the blockchain , and paving the way for an ever-expanding array of new titles on the platform. Chain Games is committed to transitioning the blockchain gaming industry into the modern era of gaming, and future plans include offering cash-based games, fantasy sports integration, and other advanced technology to facilitate our vision, platform, and roadmap.
CRYPTO BLOCKCHAIN INDUSTRIES (“CBI”) is a French company that develops, operates and invests in video games, business applications and selective projects related to blockchain, non-replaceable tokens (“NFTs”) and cryptocurrencies. Founded by Frédéric Chesnais, a well-known entrepreneur in the video game industry and a pioneer in blockchain, CBI aims to develop and improve a portfolio of blockchain activities covering different sectors (video games, finance, logistics…) to to take advantage of this technology, either through direct exploitation or in partnership. CBI has already made several investments and is currently developing a virtual world (metaverse) AlphaVerse, based on blockchain technology, which will open in the summer of 2022. The shares of CBI (FR0014007LW0) have been admitted to listing on sub-fund E1 (qualified investors) of Euronext Growth Paris Market since October 26, 2021. More information at www.cbicorp.io.
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