PRESS RELEASE. Formula 1 is one of the greatest sports in the world, with the best car teams competing every year. From the racetracks in Spa to the Monte Carlo roads in Monaco, Formula 1 has grown into a billion dollar industry with teams and drivers that boast a cult following around the world.
In recent years, the relationship between Formula 1 and the blockchain industry has grown. Partly due to the growing adoption of cryptography and blockchain technologies. Crypto.com made a splash when it was announced as a Global Partner of Formula 1 in 2021. They are not alone. Binance, FTX, Velas, Bybit, Tezos and the Floki memecoin project have partnered in Formula 1.
The familiarity between Forumla 1 and blockchain companies demonstrates the accelerating consumer adoption of blockchain and crypto related products and services. Where Shell, Hewlett Packard and Coke once stood, today cryptocurrency exchanges, hardware wallets and blockchain protocols lead the way. The success of new concepts such as the NFT has also inspired F1 teams looking to boost consumer engagement with limited card collections that provide exclusive content and access for fans around the world.
Opis Group and OpiPets participated in the Monaco NFT and Swim week conference, which took place during the Grand Prix weekend. As one of the oldest and most prestigious dates on the F1 calendar, Monaco has become home to a host of blockchain-related events.
OpiPets, a Free Play-to-Earn project and sister company The description of Cloud showcased their use cases and product developments with other successful projects and technology investors.
Building a P2E Innovation Ecosystem
While Play-to-Earn attracted over a million users in its first two years, largely thanks to the promise of rewarding players with cryptocurrency and NFT ownership, it still faces challenges in terms of wider adoption.
Start-up costs for new players are a major barrier to widespread adoption of P2E games. Participants must spend up to a thousand dollars to get started. Many people cannot afford to test this and often see it as a risky investment. Many players are still unhappy with trying to get their initial investment back.
Contrary to the original idea, many so-called P2E games have switched to Pay-to-Earn. This is due to their unstable tokenomics, which invariably causes them to abandon their original ideals.
OpiPets is one of the few projects that is different from the popular model. This is a P2E free online game that rewards players with cryptocurrency and the ability to create, fight, earn and sell their own NFT OpiPet characters.
OpiPets uses the concept of P2E and focuses on providing the community with the actual ownership of the assets produced, the digital economy and new ways to generate income.
Other developments on the horizon
OpiPets The team continues to work tirelessly to significantly lower the adoption barriers that limit the popularity of blockchain games. He also plans to launch his game in the third quarter of 2022. The game is expected to include exciting features and products to allow users to explore its ecosystem and acquire new assets.
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Credit : news.bitcoin.com