In the past few years, more and more Internet platforms have been eyeing incorporating their products and services into Web3. The idea of a decentralized web that merges blockchain technologies and token-based economics might not be something built for everybody but is continuing its onward march to relevance.
We have already seen creators implementing Web3 rules in games like Minecraft by creating servers with their own token economics. However, despite being barred by Mojang from continuing its operations, the prevalence of schemes like this and its growing user base hint at some potential to turn into something bigger.
In Asia, denizens are seeing a rising interest in blockchain technologies. Back in 2021, a cryptocurrency-backed, play-to-earn game called Axie Infinity took Southeast Asian countries like the Philippines by storm. Gamers from all walks of life saw the game as an opportunity to earn cash by raising virtual creatures and exchanging in-game items for real-world money.
Tier One Entertainment Steps Into Web3
These events set a precedent for organizations to look into more ways to incorporate Web3 concepts with their current offers. Recently, Southeast Asian esports and entertainment agency Tier One has expressed its interest in stepping into Web3.
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Tier One Entertainment Inc. is tagged as the Philippines’ first gaming and esports talent agency. The company was founded by Filipino cosplayer Alodia Gosiengfao and esports personalities Tryke Gutierrez and Brian Lim. In the past few years, the esports organization has established a presence in the SEA esports and gaming scene.
The agency registered in Singapore is also known to produce not only gaming talents but also game shoutcasters, streamers, and influencers. In 2021, Tier One expanded its operations to Japan with a partnership with Japanese internet firm KAYAC and Warner Music Group.
A recent report from Web3Wire tells us that Tier One Entertainment is to augment its business by venturing into Web3. According to the report, the business is working on building its Web3 capabilities and integrating those with its current Web2 departments.
Tier One Web3 Platform Is Currently in Development
According to Tier One crypto exec Adam Vinluan, “The first thing we worked on before going into Web3 was to go through the due diligence of understanding what the space is all about and what gap we can fill in its ecosystem,” Vinluan told BSCNews in an interview.
Vinluan also emphasized that they plan to capitalize on the agency’s existing online presence and marketing machinery leverage to ‘provide more value to the community and their brand.’ A report from BSCNews shares that Tier One is currently building its ‘Alliance’ program, which is geared to building a roster of Web3 influencers to host Web2-based gaming tournaments and Web3 guilds.
“We are well-known for our talents and content. The main value we think we will bring in Web3 is our ability to generate and bring traffic through viewership and customer conversion,” Vinluan adds.
According to the Tier One official website, they currently have more than a hundred million Facebook and Instagram followers. Check out their website for more details about their plans to enter Web3.
Related Article: New Google Web3 Team Arrives! Here’s What They Plan To Offer
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