Victory Square (VST) portfolio company, GameOn (GET), has partnered with the NBA player-backed Chibi Dinos NFT project.
Chibi Dinos are 10,000 NFTs depicting different chibis – a Japanese slang word describing a short exaggerated caricature. The dinos are dressed in jerseys tied to 10 basketball teams backed and captained by current and former NBA players, including Michael Carter-Williams, Kendrick Perkins and De’Aaron Fox.
The project sold out in 18 minutes this past August at a price of 0.06 ETH per NFT. The collectibles are now available on OpenSea, a peer-to-peer secondary NFT marketplace.
GameOn’s NFT Predictor enables fans to acquire NFTs and leverage those assets to make predictions about upcoming events for rewards such as status, recognition, prizes and exclusive NFTs.
The partnership will see Chibi Dinos utilize GameOn’s NFT Predictor to add utility to the project’s basketball and adventure game components. The deal guarantees GameOn US$120,000 in revenue with an expected gross profit of 80 per cent. The deal also includes a 50 per cent revenue share of primary and secondary sales of at least one new NFT drop related to the Chibi Dinos NFT Prediction Game.
Matt Bailey, GameOn’s CEO, stated,
“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.”
GameOn provides broadcasters, TV networks, OTT platforms, leagues, tournaments, sportsbooks and NFTs with interactive, social experiences around sports, television and live events.
GameOn (GET) is up by 1.56 per cent and is currently trading at $0.325 per share as of 9:30 am ET.