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Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED ("Coinsilium" or the "Company") Coinsilium Group Limited: Indorse updates on BlockBots and launches PowerUps NFT Collection ahead of Play-to-Earn Game going live
London, UK, 3 December 2021 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Blockchain and Open Finance venture operator, is pleased to report on an update from portfolio company Indorse Pte. Ltd. ("Indorse") regarding the launch of its "PowerUps" collection on the Polygon network and the roadmap to the launch of its BlockBots NFT Play-to-Earn ("P2E") game set for Q1 2022.
Highlights:
The full announcement was released to the Indorse community earlier today and can be seen here: https://blog.indorse.io/launch-of-the-blockbots-powerups-collection-4b753c1b8c00
Coinsilium CEO Eddy Travia commented: "It is excellent to see Indorse hitting this key milestone and unveiling the PowerUps NFT collection ahead of the play-to-earn game going live. Play-to-earn games have become one of the most lucrative areas in the NFT space as demonstrated by the fast growth of leading play-to-earn blockchain games such as Axie Infinity which has grown to become the largest NFT gaming ecosystem, with more than 1.8 million daily active users logging into the platform in August 2021 and the game's total volume to date standing at over $3.5 billion, according to NFT sales tracker CryptoSlam[1]. Axie Infinity creator Sky Mavis received a $152m investment from A16Z in early October 2021 and has spawned an entire infrastructure of Gaming Guilds connecting NFT owners and gamers with remarkable traction in markets like South East Asia.
"We are confident that the Indorse team has the right skills and the creativity to build a very successful play-to-earn gaming ecosystem of its own around the BlockBots original collection. We therefore see this as a great opportunity for Coinsilium on several levels; as an equity shareholder in Indorse with a significant holding of IND tokens and now as the owner of over 10% of the supply of BlockBots NFTs."
About BlockBots
The BlockBots NFT Gen 1 collection consists of 2,969 unique 3D voxel avatars. Each BlockBot combines specific traits randomly attributed at the time of minting and can be used as an avatar across games and metaverses.
IND tokens are an integral part of this new NFT project. IND token holders and IND stakers will enjoy multiple benefits throughout various functionalities of BlockBots and in the applications to be developed at a later stage.
Coinsilium Purchases BlockBots NFTs
At the time of this announcement Coinsilium has purchased 315 BlockBots representing approximately 10.5% of circulating supply through a combination of minting and secondary market purchases via the OpenSea NFT marketplace ("OpenSea"). The objective is to hold the NFTs for the long term with the potential of generating returns through lending/leasing collaborations once the P2E game comes into play.
BlockBots and PowerUps NFT Collections
The BlockBots community currently has over 48,000 members on its Discord channel. The BlockBots and PowerUps NFT collections are now aiming to expand the overall Indorse token community by allocating special perks and benefits to IND token holders. The PowerUps NFT collection will be traded by way of IND tokens on a zero-fee marketplace on the Polygon network, enabling fast and easy transactions. This creates a new utility for IND tokens as a native currency for the acquisition of in-game assets.
In order to enable this new utility, IND will also be available on the Polygon network and, as announced, liquidity will be provided on Polygon-based decentralised exchange SushiSwap (sushi.com) for the trading of IND tokens. With the upcoming launch of the P2E game, it is expected that a large community of gamers will be able to gain exposure to IND tokens and, although it may not be a prerequisite to play the game, they will be incentivised to utilise IND tokens for extra in-game benefits.
First BlockBots Event in the Metaverse
Indorse has invited their community to join the first BlockBots party in the Metaverse during which they will display sneak previews of the 3D Voxel PowerUps and a live concert streaming from Berlin. The link to the event will be shared on the BlockBots discord channel: discord.gg/Dy2CdKnNJT
Play-to-Earn Games and Gaming Guild Partnerships
Gaming Guilds help NFT owners generate revenues from their in-game assets and P2E gamers monetise their skills through 'scholarships'. NFTs are leased to 'scholars', thereby generating yields from popular blockchain games and virtual worlds such as Axie Infinity, The Sandbox, Star Atlas, Aurory and Splinterlands.
In-game asset (NFT) owners can generate returns by:
Coinsilium is currently exploring the potential for leasing its BlockBot NFTs once the P2E game goes live, possibly via collaboration agreements with Gaming Guilds. Gaming Guilds enable NFT owners, also called sponsors, to lend assets and receive a share of the players rewards.
In most instances, scholars report to the Gaming Guild managers, who are responsible for the scholars' vetting, training, account assignment and earnings distribution. Yields generated from the NFTs can vary and are determined by variables such as demand, in-game asset characteristics and the level of rewards that can be earned by gamers. The rarer or more 'powerful' an NFT is in the context of the game, the more valuable it will be to the gamer. Gaming Guilds offer owners of NFTs the potential of a share of the revenue generated by the players using their loaned in-game assets. Examples of current returns vary between 15% to 30% of the scholar's earnings.
Indorse has announced a partnership with Avocado Guild for the BlockBots P2E Game https://avocadoguild.com/. Avocado Guild's stated mission is to unlock the hidden talents of its Guild members by empowering them with the education, encouragement, and digital instruments they need to achieve their full potential in the Metaverse. Gaming Guilds are predominantly governed by Decentralised Autonomous Organisations ("DAOs") which enable members to vote for key decisions like games to support, in-game assets to acquire and earnings distribution.
Disclosure
Indorse is a Coinsilium equity portfolio company and advisory client. Coinsilium currently holds a 10% interest in the issued share capital of Indorse. Coinsilium also holds approximately 5.3m IND tokens representing approximately 14.12% of the current IND circulating supply and 315 BlockBot NFTs representing approximately 10.5% of circulating supply.
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
Terminology
"Artificial Intelligence" (AI): Artificial intelligence (AI) is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals. Some popular accounts use the term artificial intelligence to describe machines that mimic cognitive functions that humans associate with the human mind, such as learning and problem solving.
"Avatar": An avatar is a graphical representation of a user or the user's character or persona. It may take either a two-dimensional form as an icon in Internet forums and other online communities or a three-dimensional form as in games or virtual worlds.
"Augmented Reality" (AR): Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real world are enhanced by computer-generated perceptual information. AR can be defined as a system that incorporates three basic features: a combination of real and virtual worlds, real-time interaction, and accurate 3D registration of virtual and real objects.
"Metaverse": The Metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.
"NFT" or Non-Fungible Token: A unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.
"Voxel" or "Voxel Art": Voxel art is a type of art form where 3D models are constructed entirely out of 3D cubes called voxels. Artists are able to create these voxel models using a special type of software called a voxel editor.
About Coinsilium
Coinsilium is a focused Blockchain and Open Finance venture operator based in Gibraltar, a pre-eminent global regulatory jurisdiction and a leading hub for innovative financial technology. In 2015, Coinsilium became the first blockchain company to IPO. The Company has evolved to develop revenue-generating strategic advisory services and is a highly regarded innovator with proven technological and commercial expertise and development capabilities in the NFT arena and also within Open Finance.
Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile. It has a 50:50 venture with IOV Labs in Singapore, enabling the promotion and commercialisation of RSK's products, services and technologies in global markets; and has partnered with blockchain technology experts Indorse to create Nifty Labs, a Non-Fungible Token ('NFT') technology development studio in Gibraltar.
Coinsilium shares are traded on the APEX segment of the AQSE Growth Market in London, under the ticker symbol "COIN", and on OTCQB Venture Market in the United States under the ticker symbol "CINGF". [1] https://cryptoslam.io/axie-infinity/sales/summary |
| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 128195 |
| EQS News ID: | 1253958 |
| End of Announcement | EQS News Service |