PlaySide (ASX:PLY) shares leap on deal with Shiba Inu Games

Highlights

  • Playside Studios deals with Shiba Inu Games.
  • Shiba Inu-PlaySide agreement to develop a multiplayer collectable game.
  • Shiba Inu, a well-recognised name in the Crypto space trails into video games.

ASX listed video games developer, PlaySide Studios Limited (ASX:PLY), has entered into a work-for-hire deal with Shiba Inu Games, an entity from the globally known Ethereum-based, crypto token-Shiba Inu.  The scale of agreement seems significant to PlaySide and shall test its developmental abilities.

What is the Playside Studios and Shiba Inu Games deal ?

  • Australian games developer PlaySide Studios has struck a material fixed price, work-for-hire deal with Shiba Inu Games.
  • As per the agreement, PlaySide is to produce, design, engineer, and develop the art and user interface experience for Shiba Inu Games on a new game title.
  • The new game development deal is for an 8-month term as of now.
  • The game will be developed based on art of Shiba token’s ‘Shiboshi’ NFT and it is to feature a card collection, game strategy, and battle mechanics.
  • It is going to be a multiplayer Collectable Card Game (CCG) to be deployed on multiple platforms.
  • The proposed game launch date is in Q1 of FY23.
  • This development agreement is however fixed price, payable in US$ and doesn’t share any revenue or any sort of cryptocurrency participation.
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How will PlaySide benefit from the Shiba Inu deal?  

  • Shiba Inu is an Ethereum token of 2021, well known across the cryptocurrency world. Shiba Inu Games is one of its projects created for engaging gamers worldwide.
  • PlaySide’s strategic agreement with Shiba Inu Games brings in an opportunity for PlaySide to showcase its video game development capabilities in a relatively new gaming space having a considerably large and rapid growth potential.
  • The deal has a prospective to reinforce credentials for PlaySide as a global emerging NFT game developer.

Meanwhile on ASX, PLY shares have gained over 4.7% and closed at AU$0.820 per share today.

PLY road ahead-

PlaySide is looking forward to collaborating with strategic partners in the game development business seeking to match latest trends. Upcoming metaverse, cryptocurrencies, non-fungible tokens (NFTs), and blockchain gaming bring in new opportunities for PLY in games.

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