Param Labs is at the forefront of developing video games and infrastructure to power the next generation of gaming. Their flagship Web3 multiplayer third-person shooter game, Kiraverse, offers players a unique opportunity to compete, earn, and trade digital assets like characters and skins. This game is designed to promote digital ownership and user-generated value, leveraging Param Labs’ innovative technology.
In addition to game development, Param Labs is actively constructing technology to equip developers with the necessary tools they need to elevate their users’ blockchain-based experiences. This ensures seamless interaction for gamers across the globe, thereby impacting gaming technology and infrastructure significantly.
One of their innovative services, Pixel-to-Poly, enables users to transform 2D images into 3D playable in-game characters. These characters are compatible with Kiraverse as well as popular Web2 titles including Grand Theft Auto V and Fortnite.
Elevating esports through technological advancements
Param Labs is also making strides in the esports arena. They have partnered with major esports organisations worldwide to promote Web3 ecosystem growth around gaming. They are also preparing for a token launch that will serve as an ecosystem token for its upcoming games and infrastructure.
This strategic investment and partnership with Animoca Brands marks a significant milestone for Param Labs’ ecosystem development and the broader Web3 gaming landscape.
The investment in Param Labs further expands the presence of Animoca Brands in the Middle East and North Africa (MENA), following a partnership with NEOM to drive Web3 in the region, and with King Abdulaziz City for Science and Technology to establish a physical office and Web3 hub in Riyadh.
Both Param Labs and Animoca Brands are leveraging artificial intelligence and blockchain technologies to advance the rapidly growing gaming industry, thereby helping to establish the open metaverse. This partnership is set to redefine the gaming landscape and bring about a new era in the world of gaming.
The IBIA has a track record of delivering sports integrity education to athletes in Europe and is bringing its expertise to the Canadian market with the support of member operators. High-profile representatives from these betting operators have expressed their commitment to athlete education as a means to safeguard sports integrity. The program is expected to serve as a model for protecting sport integrity that could be extended to other sports beyond soccer in Canada. Moreover, IBIA’s global sports integrity programme offers a comprehensive approach against match-fixing, including data sharing with sports regulators and law enforcement to investigate and sanction corrupt activities.
Khalid Ali, CEO of IBIA, said: “IBIA’s members take their role – as responsible regulated betting operators – in protecting the integrity of sporting competition and of betting markets seriously. Alongside balanced, efficient and evidenced-based regulation, protecting soccer players, staff and officials from being targeted by criminals is an essential first step to stamping-out sports-betting related match-fixing and fraud.”
IBIA, a non-profit association established in 2005, represents over 60% of private sports betting operators in Ontario and is recognised as a leading voice in betting integrity. The association provides a Monitoring & Alert Network to detect suspicious betting activities and has partnerships with major sports organisations for information sharing. Its recent report emphasised Ontario’s progress as a regulated gambling jurisdiction, with high rates of onshore channelisation for sports betting expected. In Q1 2024, IBIA’s alerts contributed to the sanctioning of 21 clubs, players, and officials, indicating the impact of its efforts. PFA Canada, established in 2020, has been the collective bargaining representative for CPL players since December 2022, advocating for players’ interests and negotiating collective agreements with the league. The organisation is also a candidate member of FIFPRO, the global players’ association.
Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming SiGMA Asia Summit happening in Manila in June.
The conference and expo will be held at the SMX Convention Centre in Manila.
The chairman is confirmed to attend the prestigious SiGMA Asia Awards evening – a gala event which takes place on the 3rd at the Forbes Ballroom in the Conrad Hotel.
The Philippine Amusement and Gaming Corporation (PAGCOR) recently unveiled an impressive first-quarter financial report for 2024, showcasing a remarkable surge in income to the tune of PHP25.24 billion (€408.5 million).
This staggering 42.57 percent increase over the same period last year has sparked satisfaction within the corridors of PAGCOR’s leadership.
Chairman and CEO Alejandro Tengco expressed delight at the firm’s robust performance, stating, “We are happy to announce that PAGCOR is able to sustain our growth trajectory in the first quarter of 2024, and this should help position us into achieving another record-breaking year”.
The chairman is also featured in an exclusive interview in the latest issue of SiGMA Magazine – collect your copy at SiGMA Asia.
SiGMA Asia 2024
The SIGMA Asia summit will take place from the 2nd to 6th of June at the SMX Convention Centre – Manila’s largest expo venue. SiGMA will connect its vast network in the West with Asian suppliers, operators, and affiliates, opening up new opportunities for business, and providing a space for premium networking for an expected turnout of 20,000 delegates.
SiGMA Asia’s double decker expo floor features a diversified portfolio of B2B and B2C brands, as well as a number of land-based exhibitors – making it one of the biggest gaming shows in Asia. The event will also focus on the emerging technologies, bringing cutting-edge tech, such as AI and Blockchain to the floor.
Two full days of conference provide a valuable platform for knowledge sharing and debate. A guestlist of VIP speakers will address topics ranging from the regulatory landscape to the integration of the emerging technologies, while a series of competitive startup pitches help bring exciting new companies and ideas to light.
With official endorsements from PAGCOR and CEZA supporting the event, delegates can expect an exclusive line-up of guests this June, including 3,000 operators and over 350 top speakers.
PAGCOR Chairman and CEO Alejandro Tengco, expressed his satisfaction with the industry’s performance, particularly highlighting the outstanding growth in the Electronic Games (E-Games) sector.
“The E-Games revenue performance continues to exceed our projections, and this reflects how gaming technology and the proliferation of mobile devices is influencing not only our daily lives but our entertainment choices as well,” Tengco said.
“With the way technology is constantly shaping our lives and the way we do business, and even the way we choose to be entertained, the future of gaming clearly lies in this sector,” Tengco added.
The iGaming revenue soared to PHP 22.5 billion (€360.9 million), exceeding expectations and demonstrating the profound impact of gaming technology on entertainment choices.
Regulatory policies and reduced fees boost iGaming
Tengco attributed the success of the iGaming sector to PAGCOR’s improved regulatory policies and reduced fees, which have attracted both local and international gaming companies to invest in the Philippine gaming industry.
“We are confident that with our new regulatory policies, more gaming companies both here and abroad will continue to look at business and investment opportunities in the Philippine gaming industry,” he said.
Licensed casinos still lead, despite decrease
While licensed casinos remain the biggest contributors to 1Q GGR, bringing in PHP 49.7 billion (€797.13 million), there has been a slight decrease compared to the previous year. PAGCOR-operated casinos and bingo operations also experienced dips in revenue, indicating the ongoing challenge posed by online platforms.
Positive outlook for full-year revenues
Despite these minor setbacks, the industry’s outlook remains positive, with first-quarter revenues surpassing 24 percent of the projected full-year GGR. Moreover, the 1Q 2024 revenues have surpassed previous records, setting a promising trajectory for continued growth in the Philippine gaming industry.