Blockchain Startup Aventus Teams With Gamers Platform Fruitlab To Help Fight Unfair Practices
Blockchain startup Aventus has announced a partnership with Fruitlab, a social network of gamers, to enable creators and community members to earn revenue and compete for value.
Founded in 2017, Aventus is a layer-2 blockchain protocol that lets any organisation build on the Ethereum network without the typical limitations of speed, scalability, and price. The network makes building on Ethereum accessible for businesses and decentralized platforms through fairer transactions. The mission of the company is to ensure blockchain is future-proof by increasing interoperability with other chains within the Ethereum and Polkadot ecosystems.
Fruitlab is a social network for gamers where players can earn PIPs, share content and compete against each other for value. Following its launch in 2019, fruitlab has grown to over 625,000 registered members that have uploaded over 1.4million videos that have received over 800 million views. Players can use their PIPs to compete against each other for value or exchange their PIPs for gaming products in the fruitlab shop.
Aventus’ blockchain technology will securely and cost-effectively execute all Fruitlab token transactions, bringing rewards for Aventus Network validators and a scalable, long-term framework for fruitlab’s community.
In excess of 500,000 PIP transactions per month are generated on fruitlab today. Once PIPs are tokenised, these transactions and associated fees will be processed via the Aventus Network. A minimum of ten million historic PIP transactions will be onboarded. These transactions significantly increase the scale of the Aventus Network and therefore the potential value of staking as a validator for Aventus Token (AVT) holders.*
Following the initial onboarding process, fruitlab and Aventus Network will establish a system whereby content uploaded to the platform can be represented as non-fungible tokens (NFTs). These will form a secondary market in which creators will be able to sell NFTs to other community members. Creators, or individuals who have purchased fruitlab NFTs, can then be credited with PIP tokens from fruitlab’s community when the content is viewed.
“There is tremendous scope for blockchain to transform how content creators are rewarded in the world of online gaming,” said Alan Vey, Co-Founder and CEO of Aventus Network. “Currently, the model for creators is sometimes unfair and often unsustainable. Every day, we hear stories about online video platforms demonetizing videos, or unfair cuts being taken from fan donations by live streaming services. The PIP will ensure creators are always fairly rewarded for their content and that their fans have incentives to stay engaged. With the sheer scale of transactions passing through the PIP ecosystem, and significant plans for growth with NFTs in the longer-term, this announcement marks a milestone in the blockchain for the gaming industry.”
“The fruitlab community has already grown significantly over the last two years and the tokenisation of the PIP is the next exciting step in our journey,” said Anthony Fabrizi Chairman of fruitlab. “The fruitlab web and app proposition for gamers is, we believe, highly attractive and it will only be further enhanced by the strategic move of tokenising the PIP with a view to bringing even more value to players and content creators. The partnership between fruitlab and Aventus Network will bring the speed and cost-consistency required for further scaling of the PIP ecosystem. We are confident in the appetite for a universal gaming token which can be used for trading NFTs and staked in competitive gameplay for value – we can’t wait to see what the future holds.”
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