Gaming social network fruitlab selects Aventus Network’s blockchain technology to process fruitlab tokens – PIPs fruitlab players expected to generate half a million monthly transactions on the Aventus Network
London, UK, Aug. 10, 2021 (GLOBE NEWSWIRE) — (by way of Blockchain Wire) Aventus Network – a layer-2 blockchain protocol that brings scalability, pace and decrease prices to Ethereum transactions – at present introduced a partnership with the progressive social community of avid gamers, fruitlab, to allow creators and group members to earn income and compete for worth.
With over 625,000 registered gamers in over 90 nations, and 100,000 month-to-month energetic customers, fruitlab is a longtime and rising platform on internet and app for the world’s gaming group. The Aventus blockchain resolution will securely and cost-effectively execute all fruitlab token transactions, bringing rewards for Aventus Community validators and a scalable, long-term framework for fruitlab’s group.
The worldwide gaming group struggles to earn income from video content material and to entry grassroots aggressive gameplay for worth. fruitlab is addressing these points by introducing its personal token – PIPs. Accessible at present, PIPs are tokens for avid gamers that present a safe technique for creators to monetise content material posted on fruitlab and for PIPs for use to compete towards one another for worth.
PIPs are pretty distributed to customers and creators primarily based on their exercise on fruitlab – customers earn PIPs for each watching and posting content material. This ensures constant earnings for creators and clear incentives for the group. Earned PIPs will grow to be tradeable for normal foreign money by way of the PIP secondary market or buying items within the fruitlab Store. The partnership with Aventus Community will see PIPs tokenised on blockchain to make sure the long-term scalability, effectivity and cost-effectiveness of fruitlab.
In extra of 500,000 PIP transactions monthly are generated on fruitlab at present. As soon as PIPs are tokenised, these transactions and related charges will likely be processed by way of the Aventus Community. A minimal of ten million historic PIP transactions will likely be onboarded. These transactions considerably enhance the dimensions of the Aventus Community and subsequently the potential worth of staking as a validator for Aventus Token (AVT) holders.*
Following the preliminary onboarding course of, fruitlab and Aventus Network will set up a system whereby content material uploaded to the platform could be represented as non-fungible tokens (NFTs). These will type a secondary market wherein creators will be capable of promote NFTs to different group members. Creators, or people who’ve bought fruitlab NFTs, can then be credited with PIP tokens from fruitlab’s group when the content material is seen.
At current PIPs could be utilised for player-to-player competitors in 10 on-platform video games. fruitlab is presently growing know-how to permit the PIPs-to-play framework to be deployed on a extra vital vary of video games.
fruitlab’s objective is to determine the PIP as a trusted worth unit that’s earned by avid gamers and the recognised mechanism for aggressive gameplay. This opens up vital development potential within the variety of transactions processed by way of the Aventus Community.
Alan Vey, Co-Founder and CEO of Aventus Community, stated: “There may be large scope for blockchain to remodel how content material creators are rewarded on the planet of on-line gaming. At the moment, the mannequin for creators is usually unfair and sometimes unsustainable. On daily basis, we hear tales about on-line video platforms demonetizing movies, or unfair cuts being taken from fan donations by reside streaming companies. The PIP will guarantee creators are all the time pretty rewarded for his or her content material and that their followers have incentives to remain engaged. With the sheer scale of transactions passing via the PIP ecosystem, and vital plans for development with NFTs within the longer-term, this announcement marks a milestone within the blockchain for the gaming trade.”
Anthony Fabrizi Chairman of fruitlab, added: “The fruitlab group has already grown considerably during the last two years and the tokenisation of the PIP is the following thrilling step in our journey. The fruitlab internet and app proposition for avid gamers is, we consider, extremely enticing and it’ll solely be additional enhanced by the strategic transfer of tokenising the PIP with a view to bringing much more worth to gamers and content material creators. The partnership between fruitlab and Aventus Community will convey the pace and cost-consistency required for additional scaling of the PIP ecosystem. We’re assured within the urge for food for a common gaming token which can be utilized for buying and selling NFTs and staked in aggressive gameplay for worth – we are able to’t wait to see what the long run holds.”
Notes to editors:
* AVT is Aventus’ publicly traded utility token. Token holders can grow to be Validators by ‘staking’ their tokens. Validators’ tokens are allotted to community ‘nodes’ and used to course of transactions, incomes the holder $0.01 for every transaction processed.
About Aventus Community
The Aventus Network is a layer-2 blockchain protocol that lets any organisation construct on the Ethereum community with out the standard limitations of pace, scalability, and worth. Based in 2017, Aventus Community makes constructing on Ethereum accessible for companies and decentralised platforms via fairer transactions. The Aventus Community is on a mission to make sure blockchain is future-proof by growing interoperability with different chains inside the Ethereum and Polkadot ecosystems. To be taught extra, go to: https://www.aventus.io/.
fruitlab is a social community for avid gamers the place gamers can earn PIPs, share content material and compete towards one another for worth. Following its launch in 2019, fruitlab has grown to over 625,000 registered members which have uploaded over 1.4million movies which have obtained over 800 million views. Gamers can use their PIPs to compete towards one another for worth or alternate their PIPs for gaming merchandise within the fruitlab Store. fruitlab is offered on the internet atwww.fruitlab.com and out there to obtain from the App Retailer and Play Retailer.