GREE will develop its first Web3 game on the Avalanche blockchain, a decentralized, open-source smart contract network designed to scale the DeFi ecosystem.
One of Japan’s largest gaming and internet media companies, GREE, has partnered with Ava Labs, developer of the Avalanche blockchain, to launch its first Web3 game.
The launch will take place next year through BLDR, one of GREE's subsidiaries.
Partnership between GREE and Ava Labs
Via Twitter, the company Ava Labs, which announced the news, indicated that the Japanese gaming and media giant has also become a major institutional investor in Avalanche, adding the AVAX cryptocurrency to its corporate balance sheet. It should be noted that this marks a major milestone for Avalanche and the blockchain ecosystem, even more so considering that GREE is one of the largest publicly traded companies on the Japanese Stock Exchange.
On the other hand, Ava Labs indicated that GREE is running over a dozen nodes on the Avalanche network and with its recent partnership, has further committed to the future development and construction of this blockchain.
Ed Chang, head of gaming at Ava Labs, said his company has all the tools necessary to help GREE lead the Web3 gaming industry. Meanwhile, Eiji Araki, director of BLRD, said he is very excited about the potential of the Avalanche network and its ecosystem.
The Japanese company has a long history of success in the gaming world. Its games have reached millions of downloads and currently has more than 30 million active users per month. In addition, GREE has collaborated with other giants of the gaming industry, such as Square Enix, Sega, Konami and Bandai Namco, contributing to the development of popular video games such as Naruto, Final Fantasy, among others.
GREE's commitment to Web3 and new technologies
GREE has plans to make a broad entry into Web3 gaming, Ava Labs reported. According to the company, through its subsidiary BLRD, GREE will delve into the development and distribution of Web3 games based on the Avalanche network, as well as running nodes and investing in third-party gaming projects. But in addition to this, GREE also has plans to explore other areas of the blockchain industry, such as non-fungible tokens. or NFT.
«We are going to offer a new game that will be enjoyed by players for many years to come as we have done in web2 games», assured Araki.
Ava Labs will use its expertise and technology to help fuel the growth of GREE and its subsidiary BLRD in blockchain and Web3 gaming. The blockchain company will be responsible for providing GREE with technical support, business support, and marketing strategies to ensure its development and growth within the blockchain ecosystem.
What is Avalanche?
Avalanche is a smart contract blockchain network launched in 2020, with the aim of ensuring a high level of scalability and speed within the blockchain ecosystem. This network allows for near-instant transaction finality. All of this, in an environmentally friendly and sustainable way.
Currently, Avalanche is the fourth largest blockchain network in the decentralized finance (DeFi) ecosystem, with total liquidity deposited in its protocols of $1.340 billion.
More than 270 decentralized protocols and applications are being developed on Avalanche. Among them, Benqi and Trader Joe, which have the highest liquidity, according to data from the DeFi platform Llama, at the time of writing. Likewise, several DeFi applications from other blockchains, such as Aave, Curve Finance and KyberSwap, have also been implemented on this blockchain.
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