GameOn Entertainment Technologies (GET.C) has hopped on-board with the market-craze that is non-fungible tokens (NFT) by forging a partnership with Chibi Dinos.
The partnership will put the Chibi Dinos in the game using GameOn’s NFT Prediction Game. The deal means USD$120,000 in revenue with an expected profit of 80%. It also includes a 50% revenue share of primary and secondary sales of at least one new NFT drop related to the Chibi Dinos NFT Prediction Game.
Chibi Dinos are 10,000 NFT of different chibis. Sure. If you’re flummoxed by what a chibi is, you’re not alone. Apparently, it’s a Japanese slang word for something short, and usually includes a type of caricature where characters are drawn in an exaggerated way. Except if you’ve watched enough anime, you know that most of that style of animation involves exaggerated eyes, heads, and squat little bodies, so wouldn’t that by definition be chibi? Or a chibi? I don’t know. I don’t understand a lot of what Japan does. What I do understand is that this is a good market for GET to be in.
“NFT creators need ways to give their digital collectibles utility beyond collecting and trading, and that’s where GameOn adds value with our innovative fan engagement technologies. Partnering with Chibi Dinos presents a whole new category of customers for GameOn beyond sports, TV and live events rights holders, allowing us to expand our total addressable market. Revenue streams like primary and secondary market NFT sales are uncapped, in perpetuity and therefore particularly lucrative,” said Matt Bailey, GameOn CEO.
We wrote about GameOn a few weeks ago as part of our daily ideas segment. They’re a content provider, essentially, that extends beyond the one-way model of content direction and includes an angle of audience participation into their platform. They provide broadcaster, TV networks, leagues, tournaments, sportsbook and now NFTs with with options to interact around sports, TV and live events, using gamification processes.
If you’re still hung up on what a Chibi is, and how it relates to dinosaurs, and what this has to do with basketball, here it is:
Chibi Dinos are dressed in dinosaur suits and in the jersey of 10 basketball teams, and are all backed by current and former NBA players. These include Michael Carter-Williams, Kendrick Perkins and R.J.Hampton, who also serve as team captains.
If you were otherwise looking to get in on acquiring some Chibi Dinos for yourself, they’re all sold out. They sold out in 18 minutes on August 20 when they were minted, priced at 0.06 Ethereum (ETH). The collectibles can now be found on OpenSea, which is a peer-to-peer NFT marketplace, and they’ve pulled in more than $1 billion sales to date.
GameOn’s NFT Predictor was originally launched in July, it was led by Santiago Jaramilo, a former head of sports at Dapper Labs (responsible for NBA Top Shot). It gives fans of rights holders who partner with GameOn to build up their collection by getting more NFTs in either image, video or audio format, by buying through drops or a third-party marketplace.
Participants can use those assets to make predictions about events and get rewarded with status recognition, prizes and more exclusive NFTs for finishing well on leaderboards. These high-value NFTs are perfectly tradeable for real-life reward including tickets, merch and other prizes.
GameOn shares are down $0.02 today and presently trading at $0.30.
—Joseph Morton
Full disclosure: GameOn Entertainment Technologies is an equity guru marketing client.
