The Drone Racing League (DRL) has entered a partnership with Playgrounds Labs to develop a new play-to-earn drone game based on the Metaverse technology. The game’s concept is now set, but the details around the release are still missing, which means that the DRL may still have some figuring out to do.
The play-to-earn model in gaming was popularized by other metaverse games, and most notably Axie Infinity, which enabled players to use their in-game gains and convert them into real-world real estate investments.
Now, the league wants to see players race digital drones for a chance of winning non-fungible tokens based on the Algorand blockchain. The league has previously expanded into other branches of the experience, featuring both esports and real-life drone races.
The play-to-earn model is the latest addition. The deal with Playgrounds Labs is estimated at $100 million and will last at least five years as per initial signage. Depending on the results, it may be extended.
As a result, the Algorand blockchain will also sponsor the World Championship event that is taking place at the T-Mobile Arena in Las Vegas. Playground Labs has been a well-established party in the Algorand blockchain, looking for new ways to build upon the experience.
The partnership with the Drone Racing League is right on the money, the company believes. Playgrounds Labs is also associated with Hivemind Capital Partners which allocated $1.5 billion in an investment fund designed to boost Algorand.
Godspeed to Virtual Drones
Meanwhile, the DRL remains optimistic about the upcoming World Championship Season as it believes that the mix of esports and real-life competitions will boost the league’s popularity even further.
The DRL is also looking to introduce sports betting as part of its offer on its platforms to enable more fans to feel involved with the action. According to Drone League president Rachel Jacobson, the league is “building a road map for so many different things in the next several years.” Details about the play-to-earn model of the league should also be forthcoming.