Jump.trade, the NFT marketplace of GuardianLink, has formed a strategic partnership with AlterVerse, a Web3 game creator, to acquire digital lands for their upcoming metaverse games. This collaboration will see AlterVerse purchasing a portion of “Digital Lands” in the RADDX Racing Metaverse, as announced by Jump.trade in a recent press statement.
The RADDX Racing Metaverse, developed by Jump.trade, aims to go beyond the traditional car racing game experience by offering players the ability to monetize their in-game progress. Additionally, the metaverse game will provide brands with opportunities to expand their marketing efforts through the integration of digital land.
Scot Kinney, CEO of AlterVerse, expressed his excitement about the collaboration, stating, “It’s our goal at AlterVerse to create the highest-utility NFTs in existence… We firmly believe that this collaboration will mark the beginning of a new era in Web3 gaming – one that prioritizes community-centric experiences.”
AlterVerse, backed by Binance and Polygon Ventures, is already known for its game development capabilities and has several games under its belt. It offers a world and game creation platform that empowers creators to build Web3 games featuring realistic graphics and AI integration.
Digital lands, on the other hand, represent virtual parcels of land within the metaverse that can be owned by brands to promote their products and services to the gaming community. Individuals can also purchase digital lands and rent them out to brands, creating a potential revenue stream.
Web3 gaming, with its integration of blockchain technology, cryptocurrencies, and NFTs, is revolutionizing the gaming industry. Players can now have decentralized ownership of in-game assets and currencies, enabling them to earn, trade, and utilize these assets outside of the game environment.
The Indian gaming market is also embracing the Web3 trend, as demonstrated by the launch of Kratos Studios, a Web3 gaming venture founded by former Nazara Technology CEO Manish Agarwal and early-stage investor Ishank Gupta. According to a joint report by NASSCOM and Hashed Emergent, India is home to over 450 Web3 startups that raised $1.3 billion (approximately INR 10,700 crore) between 2020 and 2022.
As the partnership between Jump.trade and AlterVerse materializes, it represents another step forward in the evolution of Web3 gaming and the growing adoption of blockchain technology in the gaming landscape.