GameOn, a fantasy sports platform that partners with leagues on web3 games, has entered into a software development and support agreement with Sportsology. The collaboration follows a previously announced letter of intent, marking a step forward in the companies’ plans of leveraging web3 technology for gaming experiences.
The agreement is poised to drive $2.3 million from development fees into Q4, as well as $1.4 million in annual recurring revenue from 2024 onward. The total expected value of the deal is $9.3 million over five years, with the partnership anticipated to grow and garner further opportunities.
At the core of this partnership lies the creation of $GAME, an infrastructure by GameOn that seeks to drive fan engagement and revenue growth for game developers and sports leagues worldwide
According to a press release, $GAME is engineered to enhance player experiences in sports-specific games, encompassing fantasy games, predictor games, card battles, and sports betting, among others, as the ecosystem evolves.
The platform is designed to facilitate interoperability between games, distributed rewards, asset ownership, and diverse benefits for sports enthusiasts and gamers alike.
By harnessing GameOn’s expertise in web3-based intellectual property development, Sportsology said it is positioned for substantial benefits, especially in the sports and gaming domains.
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 $GAME and its capabilities.
Matt Bailey, CEO of GameOn, said: “$GAME will change the way we play, helping us deliver next-gen games to millions of fans worldwide. This is an authentic and scalable opportunity that is projected to drive highly-profitable growth and a first-mover advantage for GameOn.”
Following recent collaborations with LALIGA and PFL, GameOn is set to unveil more partnerships by year-end. Detailed revenue projections are expected to be disclosed in December through an upcoming webinar, providing comprehensive guidance on the platform’s potential growth trajectory.
