Galaxy Arena Partnership with CheersLand

Published on: 09.11.2022

Galaxy Arena has announced partnership with CheersLand, a scalable GameFi Metaverse Aggregator running the Game-as-a-Service model.

Introduction

CheersLand is a scalable GameFi Metaverse Aggregator where anyone can monetize their gaming experiences and social networks. CheersLand GameFi Metaverse Aggregator is composed of multi-game combinations, Ranking List, Initial Gaming Offering (IGO), NFT Market, Multi-asset Staking Platform, etc..

In CheersLand, gamers can earn rewards through skilled gameplay and contributions to the ecosystem. This Play to Earn mode is adopted by Axie Infinity, My Neighbor Alice, Alien Worlds, etc., which caused enthusiastic response and commercial success in GameFi.

Game builders are allowed to use CheersLand API to launch their own games in CheersLand GameFi Universe and share the economic model. This new model has been dubbed Build to Earn and will inspire game builders to earn rewards by expanding the game scenes for CheersLand.

The first classic game, Crypto Pirates, has been launched on CheersLand and verified its business model while still in early access.

Gamers will be able to get the rankings on the leaderboard by constantly passing levels in the game. CheersLand will take a snapshot of Ranking List every week and reward users who rank on it.

The weekly prizes are including but not limited to:

CHEERS tokens
Allocations of the projects listed on IGO channel
Multi-asset airdrops
NFTs of in-game items

The gamified launchpad for startups is named Initial Gaming Offering (IGO), which will provide a portion of allocations of startups to gamers on Ranking List. Gamers are free to buy and sell NFTs of in-game items on NFT Market.

Therefore, IGO and NFT Market provide CheersLand with expandable GameFi scenes.

In addition to Crypto Pirates, other games based on CheersLand will adopt the same business model and mechanism, which will help gamers earn continuous passive income.

All users who contribute to the ecosystem, including gamers, game builders, stakers, investors, will be rewarded CHEERS, the native token, which represents a real slice of CheersLand GameFi Universe as it has governance rights and fee sharing built into it. This blockchain economic design is the key difference between CheersLand and other traditional game platforms.

The Vision

They want to redefine a more cheerful world with GameFi.

By creating more economic opportunities for users, CheersLand will make a difference. They hope to bring millions of Internet users into the blockchain through CheersLand and experience the GameFi revolution together.

CHEERS Tokenomics

The $CHEERS is the native utility token of CheersLand GameFi Universe.

CHEERS is the glue that binds all ecosystem and community members of CheersLand together, which acts as the incentive and ticket for supporting the ecosystem. CHEERS holders will be able to claim rewards if they stake their tokens, play the game, build the game, and participate in Initial Gaming Offering (IGO) and key governance votes.

The use cases of CHEERS are as follows:

Staking

CHEERS stakers, as an identity in the CheersLand ecosystem, will earn CHEERS rewards and farm multi-assets on CheersLand.

Governance

By governance voting, CHEERS holders will have an influence on the crucial aspects of CheersLand development such as staking yield, projects listing on IGO, games onboard, buyback & burn percentage etc..

Incentive

CHEERS will act as the main incentive for gamers participating in Weekly Tournaments and Ranking List, as well as builders participating in the development of games based on CheersLand.

Ticket

CHEERS will be used to determine eligibility for participation in Initial Gaming Offering (IGO) or certain sales/auctions conducted by the CheerLand team.

Payment

CHEERS will be accepted as universal currency within CheerLand NFT Market. Commodities in the ecosystem will be priced and traded with CHEERS as the unit.

About Galaxy Arena

Galaxy Arena is a virtual reality play-to-earn metaverse that uses groundbreaking volumetric motioncapture technology to give users an experience unlike any other. With the Arena as the focal point, players can watch live stream professional fighters duke it out from their favourite leagues with the help of cutting-edge technology. Spectators can watch pay-per-view broadcasts from every conceivable angle — more detailed than if they were ringside.

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