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Param Labs Introduces its Native Launchpad, as Token Volume Surges in the First 24 Hours

Independent game development infrastructure studio Param Labs announced the launch of its native launchpad and marketplace today, shortly after its PARAM token launch.

According to the company, the launchpad will feature exclusive collections from major gaming and retail brands that have partnered with Param Labs. Users who hold the PARAM token will be allowed to mint and own gaming assets that can be used in its flagship game Kiraverse, or traded on marketplaces like Magic Eden, OpenSea, Blur, and more.

Native Launchpad Unveiled: Param Labs Introduces Revolutionary Platform

The company has been busy with partnerships and product launches this year. According to Param Labs, the UAE-based studio partnered with retail giant GameStop earlier last year, bringing its ‘Buck-the-Bunny’ to life in Kiraverse via its Pixel-to-Poly service. Param also teamed up with esports organizations such as Chronic and LOUD GG, generating over $4 million in revenue in the last 12 months, with over 2 million wallets connected to its platform.

Earlier today, the company launched its native $PARAM token on centralized exchanges including ByBit, Gate.io, and more. The utility and governance token has since seen a surge in trading volume, generating over $10 million in the first 24 hours. 

Ecosystem Expansion

Anthony Anderson, CEO and co-founder of Param Labs said that the ecosystem token is central to accessing features within the marketplace and in-game, the second of multiple immediate use-cases going live right after the token-generation event. Brands like X, Y, and Z have already committed to distributing their collections onto the Param launchpad.

Param Labs also recently announced a $7 million funding round led by firms such as Animoca Brands, Delphi Ventures, Mechanism Capital, and more. The investment is a credit to the company’s immense ecosystem growth, recently crossing over 2.5 million Twitter followers across all their pages, 500,000 Discord users, and 300,000 daily active users on the Param Gaming Platform—one of the many milestones it has achieved in the last 24 months. According to reports, Param Labs has already shipped three products into Beta over the past year.

About Param Labs

Param Labs is at the forefront of leveraging artificial intelligence and blockchain technologies to advance the rapidly growing $200 billion+ gaming industry. By addressing some of the most significant challenges believed to limit the sector’s long-term growth, Param Labs is setting new standards for innovation and user engagement. Its ecosystem is crafted to provide gamers with digital ownership over their gaming assets and enable the creation of user-generated value across their experiences. 

With a keen focus on solving apparent issues in the gaming world, Param Labs designs products that not only aim to seamlessly integrate millions of new users into the benefits of Web3 technology but also empower individual creators and studios. The team is dedicated to developing the necessary tools for effortlessly utilizing the advantages of emerging technologies, paving the way for the future of the gaming industry. Through its efforts, Param Labs is positioned as a pivotal player in transforming how gamers interact with digital content, promoting a more inclusive and dynamic gaming environment.

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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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