TORONTO, May 8, 2023 /CNW/ - P2Earn Inc (CSE: PXE) (FSE: WH4) ) ("P2Earn" or the "Company") is very pleased to announce that the Company has entered into a non-binding letter of intent (the "Letter of Intent") with StarHeroes.IO ("StarHereos") (https://starheroes.io/), a Web3 game backed by Microsoft Corp. due to launch later in 2023.
The Letter of Intent sets out the terms of a proposed commercial relationship (the "Proposed Commercial Relationship") between the Company and StarHeroes, pursuant to which the parties will work together with the mutual aim of growing both their respective communities within blockchain gaming. The Proposed Commercial Relationship is conditioned on the completion of legal review, tax advice and finalization of documentation that is satisfactory to both parties.
StarHeroes is the first-ever multiplayer space shooter designed purely for esports. The STAR studio's production offers multiple modes including Play-and-Earn modes, which allows players to earn digital currency that can be exchanged for real money. StarHeroes recently partnered with Microsoft, which granted it access and credits to use its Azure PlayFab platform. So far, PlayFab has been used to create iconic video game titles such as Forza Horizon and Tom Clancy's Rainbow Six Siege.
Microsoft's support for StarHeroes is one of the first times a major corporation like Microsoft has backed a Web3 game, demonstrating the potential of blockchain gaming. Now other companies are taking notice. The alpha version of StarHeroes is available to everyone on the GameSwift platform.
Alex Lineton, Chief Executive Officer at P2Earn Inc commented on the deal, stating, "We are delighted to be working with such a leading web3 game developer. This game truly showcases what web3 gaming is quickly becoming as graphics and gameplay begin to move to the next stage of development. We are working with StarHeroes to integrate their game into our Gaming Guild in readiness for their launch".
Maverick Milkowski, Chief Executive Officer at StarHeroes stated, "Building a game and a guild from scratch is a huge undertaking, so mutual support in this journey is invaluable. And our joint potential for growth - truly exciting." StarHeroes is anticipated to launch later in 2023 with the integration into the P2Earn Gaming Guild following closely behind.
About P2Earn Inc.
P2Earn is a publicly traded company that provides comprehensive solutions for the rapidly-evolving blockchain gaming and cryptocurrency sectors. P2Earn operates an efficient Bitcoin mining operation powered by sustainable energy sources.
Our cutting-edge blockchain gaming platform enables players to gain tangible value from their in-game accomplishments and activities, leveraging unique digital assets (such as NFTs) that can be sold, purchased, and traded like physical assets. P2Earn is committed to building a sustainable blockchain gaming ecosystem, while also making Play-to-Earn gaming more accessible to a wider audience.
P2EARN INC.
First Canadian Place
100 King Street West, Suite 5600
Toronto, Ontario M5X1C9
Tel: 214-864-5958
https://p2earncorporate.io
https://discord.gg/p2earn
Statement Regarding Forward Looking Information
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information, including but not limited to: development of the Proposed Commercial Relationship contemplated under the Letter of Intent; further benefits, if any at all, from the Proposed Commercial Relationship; the continuation of StarHeroes partnership with Microsoft, any benefits to be derived by the Company from such partnership; and future uptake and develop of Web3 in general. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties, and assumptions.
Many factors could cause the actual results, performance, or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Examples of such risk factors include, without limitation, credit; market (including equity, commodity, foreign exchange and interest rate); liquidity; operational (including technology and infrastructure); reputational; insurance; strategic; regulatory; legal; environmental; capital adequacy; the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyberattacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of newand changes to, or application of, current laws and regulations; decline of reimbursement rates; a novel business model; dependence on key suppliers; the overall difficult litigation environment; increased competition; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in the Company's disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com.
Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
The CSE has not reviewed, approved, or disapproved the content of this press release
SOURCE P2Earn Inc
View original content: http://www.newswire.ca/en/releases/archive/May2023/08/c9031.html
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2023-05-08 11:00:00Z
CBMiTmh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9wMmVhcm4taW5jLWFkZHMtbWljcm9zb2Z0LWJhY2tlZC0xMTAwMDAzNTUuaHRtbNIBVmh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vYW1waHRtbC9uZXdzL3AyZWFybi1pbmMtYWRkcy1taWNyb3NvZnQtYmFja2VkLTExMDAwMDM1NS5odG1s
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