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Welcome to the Q3 update! We’ve had a huge amount of positive movement in the last quarter, which we’re excited to share with you today.
- Strategy Update — Our “Why”
- XP product update
- Fanplay product update (previously ZBET)
- Other updates
- Upcoming events
1. Strategy Update — Our “Why”
Before we dive into the update, we want to touch on the most important foundation for any organisation — it’s “Why”. The Why is the central point of any successful organisation that all other branches stem from, it is the core that informs all decisions made.
For Perion, we understand that our why has not yet been encapsulated and communicated to our audience. To make Perion a success, we need to plant a flag, so you can all understand why you’re here and what it’s all for. You may have already seen in our previous updates this year that we have narrowed down our focus to initiatives we see as the most impactful to make a difference to blockchain gaming, Perion and the PERC ecosystem. Now we’re here to tell you what it’s for. Perion’s why is to:
Discover new value using blockchain in gaming
We believe that blockchain holds the potential to create a better future for gamers. A future where gaming is more fun, more rewarding and more engaging. A future where gamers have real-world ownership over their gaming assets and achievements. A future where gamers have universal identities, a future where blockchain ledgers build transparency, trust and ultimately engagement. A future where gamers are in control of how they game and what they own.
The gaming market is booming and has always been at the forefront of technology. It is a natural evolution for blockchain to create disruptive solutions that take gaming to the next level.
2. Metrics Snapshot
3. XP Product Update
XP.gg is our gaming-facing brand, which you are already familiar with. The first version is now live (more on this below). We are building XP to onboard a large number of web2 gamers to provide sustainable value and ultimately introduce them to the value of blockchain and web3 elements as the market matures. PERC will be embedded in the platform in 2024 to drive sustainable value and utility to the PERC ecosystem. We will introduce features that deliver real value to these gamers using blockchain technology — remember, we’re here to discover new value using blockchain in gaming.
We are excited to announce the XP Alpha version is now live. If you’re on Steam — go ahead and give it a try and secure your XP Gamertag, before someone else takes it!
4. Fanplay Product Update (Previously ZBET)
You should already be familiar with our smart contract wagering platform prototype ZBET. If you recall our strategy update earlier this year, we laid out a plan to find an external operator to focus on the platform’s growth.
Since February, we have actively tested the platform with a focus group — the user feedback has been incredible. The product and its potential have been validated, hence, we see the most value for Perion is in staying close to the platform, while not operating it directly, to maintain our focus on XP.
We have identified a team to run the platform that has provided input to the project and achieved the following:
- Created a 3 horizon product roadmap and brand positioning
- Successfully ran multiple rounds of user testing with focus groups
- Finalised re-brand from ZBET to FANPLAY (for better game-agnostic brand positioning)
- Acquired two more games for initial integration into the platform
- Began preparation for licence acquisition
Our vision is to be involved in taking the platform from the current prototype to a fully operational product, with a PERC integration. This will require a variety of upgrades to set it up for success. We believe that this team has the right expertise and experience to do so and tackle this with the focus it deserves. We will put forward a governance proposal this week for how we see this play out in detail, and so you can all have input on the path forward for the platform.
5. Other updates
Axie Gaming Team Sunset
As you might have noticed in the proposal from early August, the DAO has successfully voted to sunset the Axie Infinity eSports team. The main reason for this was missing ROI opportunities, a loss of focus and missing connections to PERC. We are excited about the outcome of this vote and are confident that this will drive more focus to the success of the DAO.
Market-netural: As detailed earlier in the update, our runway is currently sitting at 6 years. Putting our treasury to work has been a critical factor in giving us a long runway and the capital to win long-term. The market neutral segment of the treasury is currently averaging returns of $54,663 per month for the quarter, putting us at 14.72% annualised return on capital deployed.
Gaming portfolio: The last quarter has seen average returns on gaming projects. Though the future is not bleak, with Shrapnel preparing to launch a playable in the coming quarter, OTG making great moves and Heroes of Mavia preparing to launch on iOS and Android, we’re now nearing the point of seeing our more promising games hit the market. It’s an exciting time as the real front-runners of the gaming sector start to emerge.
PERC Update: Between October 6–8, the PERC price dropped significantly due to a marketing agency we previously partnered with selling 0.262% of the supply without our knowledge, due to their cash flow issues. Their inexperienced crypto trades on Sushiswap caused this price impact. We’ve taken measures to prevent such incidents in the future and view this as a short-term setback. Our upcoming utility plans will ensure long-term stability and liquidity.
6. Upcoming Events
For our Australian-based contributors, we are hosting an event on the afternoon of November 10 at Upside DAO in Melbourne where we will showcase both XP.gg and FANPLAY in action. We’d love to see you there! An email with the sign-up link will follow later this week.
To wrap up, we are pumped for the path ahead. With one mass-market gaming product now live in alpha and another about to go live very soon, we can’t wait for the first user sign-ups, then shifting focus to mass-market growth in 2024.
Now that we have our first products hitting the market, we are always looking for user feedback. If you’re a gamer — Please sign up and provide us with your feedback! We will send a feedback form to all initial signups. Furthermore, if you think someone will be worth talking to for partnerships — Please don’t hesitate to check in for introductions to see if there’s an opportunity.
We know everyone is busy so we try to keep this update concise — If you’d any further information please reach out anytime. We appreciate your continued support. Looking forward to achieving more milestones together.
– Perion Team.
Before you go
We’ve started a weekly newsletter where we drop the top stories in web3 gaming, and give a quick update on Perion’s week for our community. You can signup for the newsletter here https://owned.perion.gg/
If you want to reach any of the DAO contributors, please find us on the platforms listed below.