VANCOUVER, British Columbia, Dec. 16, 2021 (GLOBE NEWSWIRE) -- GameOn Entertainment Technologies Inc. (CSE: GET) (OTCQB: GMETF), a leading game technology provider to media, sports and entertainment companies, wrapped up 2021 with its most significant milestones to-date. Q3 was anchored by two strategic investments, multiple new revenue-generating customer agreements, and a roadmap towards becoming a leader in NFT games.
On November 30, Brand Capital International, the investment arm of India’s largest media conglomerate, The Times Group, agreed to invest up to US$6 million in GameOn over three years, while providing resources to strategically drive the company further into the Indian market. Times Internet is the parent company of GameOn customer MX Player, an Indian entertainment super app which recently surpassed 1 billion downloads. The MX Cricket Predictor, powered by GameOn’s proprietary technology, is on track to surpass 10 million predictions in just two months.
On December 2, Polygon ($MATIC), a pioneering blockchain that has onboarded millions to the Web3 ecosystem, agreed to non-dilutive funding for 50% of GameOn’s ongoing product development costs in the NFT games space. Polygon recently committed USD$100 million to projects leading the transition to Web3. Investments include DraftKings, DeFine and now GameOn. MATIC, the native cryptocurrency of Polygon, recently outperformed Bitcoin and Ethereum.
“These investments represent a watershed moment for GameOn,” said GameOn CEO Matt Bailey. “A moment when a small, relatively unknown company became backed by India’s largest media conglomerate and a leading blockchain with a US$20 billion market cap. This is strong validation of the mission, products and committed team that fuel our business each day.”
During the quarter, GameOn also signed several new revenue-generating customer agreements including NFT collection Chibi Dinos, Kevin Garnett-backed Gaming Society and an additional three projects with existing customer MX Player. The Company also announced its intent to acquire fantasy company FanClash, expected to finalize in Q1 of next year.
“2022 is set up to be the year of scaling customers and revenue, with all the right people and resources in place” said Bailey. “If you’ve followed us since our listing on the CSE, you’ll know we execute on what we say. We expect the next 12-24 months to be no different. The first inning is over. Batter up for the second, now with the likes of Times Internet and Polygon on-deck.”
The GameOn team wishes shareholders, friends and their families a very happy holiday season.
On behalf of the Board of Directors:
Matt Bailey
Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
917-834-4921
For more information:
Investor Relations
Lambert & Co.
invest@gameon.app
313.309.9500
ABOUT GAMEON ENTERTAINMENT TECHNOLOGIES INC.
GameOn (CSE: GET) (OTCQB: GMETF) powers the biggest sports, media and entertainment companies with the most innovative white label game technologies. GameOn provides broadcasters, TV networks, streaming platforms, leagues, tournaments, sportsbooks and NFT projects with white label prediction games, fantasy games and NFT-based games. Since completing the Comcast NBCUniversal LIFT Labs Accelerator powered by Techstars in 2018, GameOn has secured revenue-generating partnerships with global companies including NBCUniversal, Bravo and MX Player.
GameOn has a dynamic and experienced management team led by CEO, Matt Bailey (Brooklyn Nets, Barclays Center), Chief Product Officer, Santiago Jaramillo (Dapper Labs, NBA Top Shot, EA Sports) and VP of Partnerships, Ryan Nowack (Madison Square Garden, New York Knicks, New York Rangers), as well as its Directors, J Moses (Take-Two Interactive), Shafin Tejani (Victory Square Technologies), Liz Schimel (Apple, Comcast, Meredith) and Carey Dillen (YYOGA, FIFA, IOC).
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “could,” “estimates,” “expects,” “forecasts,” “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about GameOn’s listing and commencement of trading on the CSE.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and GameOn disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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