MOU between IPX, a digital IP platform company, and PlayDapp, a blockchain service platform, announced that it will launch a full-fledged digital IP entertainment business based on Metaverse and NFT, focusing on IPX’s digital IP generation platform, FRENZ.
In SEOUL, South Korea, PlayDapp the Blockchain service has already signed a MOU with the IPX: the digital IP platform in 2nd of March 2022 and it has been confirmed that it will release a multilateral collaboration. This collaboration will happen with the FRENZ who are well known as a digital IP generation platform.
In May 2022, NFT Marketplace will allow anyone to NFT and trade their own character IP through the IP generation platform “FRENZ.” In addition, it is said that users are preparing to link their character IP with the blockchain game that PlayDapp is serving.
PlayDapp, which is known as a blockchain service platform, is a DApp game portal that releases multi-homing games that allow users to move and enjoy various platforms such as “CryptoDozer” and “Allong with the Gods” based on blockchain technology and provides NFT marketplace services. It is also listed on global exchanges such as Binance, Coinbase, and Bitrex.
IPX is moving to promote metaverse and NFT businesses in earnest by changing its name from Line Friends. Line Friends’ IP has reached about 1 trillion won in 2021 and is gradually increasing. The mission change is aimed at establishing a company’s identity for a digital virtual IP-oriented business transition beyond offline-oriented retail business, and the name IPX contains the meaning of special experiences such as providing various IPs and unforgettable gifts.
Based on IP3.0 era in which anyone can create, own, and share character IPs, and blockchain know-how accumulated so far, PlayDapp has shown its willingness to speed up NFT popularization through various collaborations with IPX by creating a new digital IP ecosystem with FRENZ platform. As the two companies have excellent technology and global character IP, this MOU is expected to proceed successfully.
By this business partnership, these two firms will be driven with a multilateral collaboration and then will expand the IPs created in FRENZ and the IPX. The first half of this year will launch and be available with NFT and the Metaverse service. Now it gives the opportunity to create character IPs that are generally considered the sole property of the brands and artists. And they are owned by the FRENZ platform users. So you have the freedom over creating what you want as a character.
These corporations know how they have passed through the years. They are so happy to digitally create a new user-centred IP ecosystem with the FRENZ association, the digital IP creation platform. The head of the business of PlayDapp: Sang Chung, also said that they would try to accelerate the popularization and the adoption of the NFTs through this corporation.
While these all things are happening in the game, IPX is also planning to expand their partnership from the domains. And those domains are from the future of this PlayDappp, which is now having collaborations with several metaverse companies. Some of the companies they had collaborated with are social entertainment and real estate platforms, and through this new step, users are going to have an experience with a diverse digital world. And also, they are going to use the IPs they have created solely in FRENZ for this purpose.
This huge and the very best progress, which is considered an important feature, made them happy about what they achieved and conquered so far. And they were literally progressing through some of their strategic objectives as well. And Vince is very excited to lead their IGT towards the success of its newt evolution chapters, and to reach them, Vince and the team have already set some multiyear goals and a focused strategy. Their purpose is to maximize their value for all the stakeholders so they will be able to earn some real profit and progress with those all the strategies.
Vince Sadusky from IGT says that 2021 was their best revenue to earn, and they had excellent cash flow and profit performances over the last four years. When the year 2021 came to the fourth quarter in December and ended that entire year, they were at a very good place at all. They were managed to meet some of their specific targets at this point and already successful in having a strong performance over their portfolio at all.
According to Max Chiara, the CEO of IGT, improving this leverage for 3.5 years with a schedule can lead them to have a balanced frame world for the capital allocation, and it is going to support these users for their growth. And also, it will continue the reduction of the debts and capital return reinstatements by share repurchases and the quarterly dividends. As they enter 2022, they hope that their company will be in a good place and will reach a strong foundation. Their further growth is also expected to increase with stronger financial conditions.
