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PLAYSTUDIOS Enters Strategic Alliance With Forte to Power Its Venture Into Web3

Forte, a leading provider of blockchain solutions, and PLAYSTUDIOS, Inc., the company behind the playAWARDS loyalty platform and an award-winning developer of free-to-play mobile and social games that offer real-world rewards to players, have formed a strategic partnership to bring PLAYSTUDIOS’ leadership in “rewarded play” to Web3 through its new venture playBLOCKS.

playBLOCKS will leverage Forte’s technical infrastructure, blockchain technologies, and economic models to create rich and engaging experiences built specifically for token economies, and to manage digital assets in a secure marketplace where players are connected with world-class brands and their rewards programs.

“Forte offers a complete and unmatched solution to power token economies with tools that prioritize the player experience,” said Andrew Pascal, founder and CEO of PLAYSTUDIOS. “We are very excited to work with the experienced team at Forte and to leverage their sophisticated technology to power our innovative playBLOCKS loyalty and rewards model which will benefit our players, games, and reward partners.”

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“PLAYSTUDIOS has been a visionary in the games space for over a decade, pioneering both rewarded play for millions of players with playAWARDS and continually embracing and developing a leading position in new technology platforms from social to mobile,” said Josh Williams, CEO, Forte. “We are incredibly excited that playBLOCKS represents the combination of great, fun games with Web3 digital assets and rewards in the physical world. Web3 will continue to unlock a massive shift in how entertainment is built and consumed with economics that benefit players, creators and publishers. We are so happy to be building towards that future with PLAYSTUDIOS.”

Both Forte and PLAYSTUDIOS share a vision about the transformational opportunity of blockchain gaming, one that creates massive new creative and economic opportunities centered around utility, trust, and authenticity.

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“Since our inception, Forte’s goal has been to build and connect the blockchain technology that makes it possible for anyone in the world to gain true digital property rights. This goal merges online and physical-world experiences, creating truly immersive economies that reward and benefit more participants. Our partnership with PLAYSTUDIOS and playBLOCKS is a significant step towards that vision,” continued Williams.

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Forte’s platform allows game publishers to easily integrate blockchain technologies into their games, enabling features such as seamless, embeddable token wallets, non-fungible token (NFT) minting and selling, payment rails, and other services built specifically for blockchain token economies and the management of digital and virtual assets. In blockchain-enabled games, players can truly own goods, rather than making pure entertainment expenditures. Players around the world can freely trade goods and services with each other, and can participate in community economies that reward creativity, collaboration, and skill. These new systems provide game players and communities all around the world with new creative and economic opportunities.

Forte is backed by the world’s leading venture teams, including Sea Capital and Kora Management, Griffin Gaming Partners, Tiger Global, Union Grove Venture Partners, Andreessen Horowitz (a16z), Battery Ventures, and Canaan, with further support and funding from powerhouse game and media publishers including Animoca Brands, Big Bets (Huuuge Games), Overwolf, PLAYSTUDIOS, Warner Music Group, zVentures (Razer), and blockchain partners Cosmos, Polygon Studios, and Solana Ventures.

PLAYSTUDIOS has developed a portfolio of beautifully designed, top-ranked free-to-play games that have attracted a loyal following due, in large part, to the company’s unmatched playAWARDS Loyalty Program. The program enables players to earn real-world rewards from a curated collection of over 275 entertainment, retail, travel, leisure, and casino brands. To date, the PLAYSTUDIOS community has used its in-app loyalty points to purchase over 10 million rewards. The Company has been named a Top Developer by App Annie, the gaming industry’s leader in app analytics and aggregated app performance data.

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[To share your insights with us, please write to sghosh@martechseries.com]

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