Drone Racing League (DRL) and Web 3 game developer Playground Labs have tapped Algorand’s blockchain to create the first play-to-earn drone game in the metaverse, announced by the league.
The league’s partnership with Playground Labs will be the first play-to-earn competition
The game’s specifics are yet to be defined; a Drone Racing League spokesman told CoinDesk that the company would poll its audience to see what type of gameplay they like. Play-to-earn, or GameFi, is a new subsector of the crypto world in which players earn digital assets that are worth more than a single game, as they are in conventional gaming.
As far as details go, the league has said “players will race drones” (possibly digital ones) using Algorand to earn bitcoin and non-fungible tokens (NFTs).
DRL’s engagement in blockchain is in line with the company’s existing hybrid and experimental competition schedule. Which includes both real-world racing with actual drones and virtual esports competitions. The GameFi partnership comes after Algorand announced a five-year, $100 million pact in September.
According to a press release, the league has also added sports betting to the platform. In an effort to stay ahead of the curve. Calling it “the first sport in the air” that fans can wager on.
In an interview with CoinDesk, DRL President Rachel Jacobson said. “We’re constructing a roadmap of so many different things in the next few years”. “We need to understand blockchain because we always want to be ten steps ahead of the competition and first to market”. “We’re going to be the crown gem of Playground Labs.”
DRL has also named Algorand as the title sponsor of its global championship event. Which will be hosted at T-Mobile Arena in Las Vegas and will feature a performance by Weezer, among other things.
In November, Hivemind Capital Partners launched a $1.5 billion fund to invest in Algorland-based initiatives through its subsidiary, Playground Labs.