Cambodian Premier League side Angkor Tiger has teamed up with Singapore-based worldwide GamFi platform Digital Entertainment Asset Pte.Ltd (DEA) as part their “Play-to-Earn” program.
This means that Angkor Tiger FC will participate in DEA’s Play-to-Earn ecosystem as a “gaming guild”. This means that the club will use the investment funds of the team’s sponsors to acquire non-fungible tokens (NFT’s) of digital assets and in-game products for DEA’s “PlayMining” game platform.
And if none of that made any sense to you then no worries, we are here to explain!
WTF is an and NFT?
NFT’s or non-fungible tokens are non-interchangeable units of data stored on a blockchain, a form of digital ledger, that can be sold and traded. These can be associated with digital files, such as photos, videos and audio.
Although part of blockchain the technology works slightly differently and it is not be confused with that other great get-rich-quick scheme, BItcoin!
NFT’s have not been without their controversy, with allegations of everything from money laundering to Ponzi schemes being thrown at them. Controversy aside they are though worth big money, particularly in the sporting arena, with a rare photo of Maradona going for over $6 million and works of art going for the tens of millions. Essentially think digital collectable cards.
What then is a gaming guild?
Gaming Guilds are basically groups within the DEA gaming system that invest in the NFTs of the platform’s Play-to-Earn Said guilds then earn money through organised play, with these guilds proving extremely popular, particularly in southeast Asia as a way for people to earn money.
And while sitting at home playing computer games instead of going to actual work might have some controversy to it, it should not be ignored that the e-gaming industry is worth billions of dollars.
To read about e-gaming in Cambodia click here
How will it impact the economy?
The Tigers have stated that they have entered into this partnership with DEA in order to create employment opportunities in Siem Reap and Cambodia in general through gaming. Siem Reap has been particularly hard-hit economically by the drastic drop in tourist numbers to the country.
Speaking to Khmer Nights Angkor Tiger owner Akihiro Kato said “This is part of GameFi where the players earn from the game. To do this they need Game Amulets (NFTs), which are too expensive for most gamers, costing upwards of $2000. The club purchases the NFT’s and then loans to the players. Profits can then be split which benefits everyone”.
If all goes to plan he expects it could employ up to 100 people by the end of the year, with players potentially being able to earn $80 a month for just 30 minutes gaming a day. Not life changing perhaps, but getting paid to play is living the dream a bit.
Aside from the football club, the group also own Tiger Money a finance institution, as well as hotel’s among other assets.
Quite whether this will be an economic game-changer is yet to be seen, it is though if nothing else quirky, controversial and a little bit interesting.
