May 15, 2020
Gameworks has entered into a partnership with BXTB Foundation where both parties will be working collaboratively to facilitate the integration of BXTB technology into the GWX platform to further develop and expand the gaming sector. This agreement makes Gameworks the first live gaming platform to accept BXTB game tokens as part of its service offering, spearheading BXTB’s expansion into the growing Asia/Pacific online gaming market.
The online gaming industry has emerged as a major driver of the global economy having evolved at a rapid pace over the past decade and showing little signs of slowing down; it is estimated to grow at a compound annual growth rate of 17.5% over the next eight years.
BXTB Foundation will bring its unique blockchain technology and ecosystem to the partnership along with its unique community of KYC-qualified customers as collateral to the GWX platform. BXTB aims to unify the siloed systems of the gaming industry and solve payment and settlement issues by connecting all global gaming industry payment systems while Gameworks brings together legal compliance, transparency and security, and fair convenient monetization on a single platform.
“We're taking another step towards further increasing game accessibility. Hand-in-hand with BXTB, Gameworks bolsters the gaming platform's reach by enhancing the customer experience and therefore engaging new audiences,” says Gameworks Chairman Jack Ponce-Enrile. Combining both their expertise in blockchain technology, Gameworks and BXTB are positioned to further stimulate the online gaming industry and create a better tokenized gaming experience for all.
In addition, the advent of the COVID-19 pandemic is expected to further boost the industry’s already astounding growth pre-crisis. According to Verizon, gaming traffic increased by 75% during the enforced virus lockdowns and the average time spent on online gaming constitutes 11% of total entertainment per day.
Gameworks (GWX) is an Estonian operator with an Interactive Gaming License issued by the Cagayan Economic Zone Authority (CEZA) through North Cagayan Gaming and Amusement Corporation (NCGAC). Gameworks operates a platform that allows game developers and publishers to host their games in a fully licensed and regulated environment. Built into the underlying GWX infrastructure are regtech measures designed to support the highest degrees of tax compliance, anti-fraud, and anti-money laundering policies.
BXTB Foundation, a technology provider that supports and develops ground-breaking cryptographic payment and settlement solutions for the online gaming sector. BXTB is a dual blockchain, dual token platform, developed and supported by the BXTB Foundation. It aims to unify the payment and settlement systems of the gaming industry and resolve its issues once and for all.