SINGAPORE, Dec. 9, 2021 /PRNewswire/ — AAG Ventures, the team behind one of the fastest-growing guilds in the GameFi industry and Play-to-Earn (P2E) space, has partnered with top blockchain security firm CYBAVO to secure its digital assets. The tech company, creators of AAG (Achip & Achair Guild), will leverage the power of CYBAVO’s MPC-backed institutional wallet and security infrastructure to deliver a safe platform and ecosystem for its growing community.
Play-to-Earn (P2E) games enable players to earn real money while playing video games, and have been gaining popularity since the second half of 2021 and advent of the metaverse. P2E has ushered in a new age of blockchain gaming and NFT features like unique in-game characters and items. Some P2E games now allow players to form teams (guilds) and scholarship programs that provide new players (scholars) to participate through a profit-sharing model. AAG is one of the largest guilds in the world, having experienced a meteoric rise growing from zero to 1,500 scholars in just 7 weeks in 7 countries, with thousands of scholarship applicants still waiting in line to join.
AAG Ventures’ goal is to democratize access to Play-to-Earn platforms so that as many users as possible have access to this economic opportunity. With this mission in mind, the company is now creating a holistic platform to integrate all stakeholders in the P2E space both vertically and horizontally, from guilds and players, to NFT marketplaces and lenders, to video game studios and investors.
As part of this mission to unify and streamline the P2E experience, AAG Ventures has announced the launch of its $AAG native token IDO on the Copper Launch platform on December 12, 2022 at 12:00 PM (GMT). Token holders will be able to use the AAG tokens to:
- Use as a universal currency for all Play-to-Earn games
- Buy fractional ownerships of NFTs
- Pay for platform services
- Vote in governance decisions
To ensure the security of its tokens, AAG Ventures has chosen blockchain security firm CYBAVO.
Jack Vinijtrongjit, CEO of AAG Ventures, stated the following:
“At AAG Ventures, we want to provide additional security to everyone. This includes all participants in our ecosystem — including our very own core team and scholars. We believe in the strongest terms that if we can eliminate the complexity that comes with the management of cryptocurrency, we can help accelerate the adoption of Play-To-Earn, Learn-To-Earn, and metaverse in general.”
CYBAVO is an ISO 27001-certified and insured blockchain cybersecurity company building the future of secure digital asset management. CYBAVO VAULT, its flagship product, delivers a suite of tools that integrates the most cutting-edge cryptography and security infrastructure with emerging blockchain layer 1 & 2 applications, DeFi and NFTs. This delivers more than an institutional wallet, but a secure digital asset operations platform to help institutions thrive in today’s blockchain ecosystem.
CYBAVO is one of the only custodial solutions to date to offer NFT capabilities, with support for both ERC 721 and ERC 1155 standards. Its wallet users can deploy NFT smart contracts, and mint, burn, store, or send NFTs directly from the wallet interface in accordance with the threshold approval process set up for the wallet, ensuring strict adherence to corporate workflows.
“We are very excited about this partnership with AAG Ventures,” said Paul Fan, CEO of CYBAVO. “This past year we’ve seen the spectacular rise of the GameFi industry and Play-to-Earn games, and we believe that there is a lot of untapped potential here, both to democratize its access to provide economic help to those who need it, and to further explore innovative applications for DeFi and blockchain technology.”
What’s Next for CYBAVO and AAG Ventures?
In addition to providing an institutional wallet, CYBAVO will continue to collaborate with AAG Ventures to use CYBAVO’s Wallet SDK to provide secure cryptocurrency wallets for AAG scholars. The wallet aims to be integrated with P2E games, so players’ earnings can be accessible in one application, making it easier for everyone–veterans and newcomers alike– to safely manage their cryptocurrencies.
SOURCE CYBAVO