Client Spotlight: Fruitlab
Find out how Aventus’ solution helped gaming platform Fruitlab leverage the benefits of Web3 to grow its user base by 25% and grow its market cap to $35M.
The online gaming industry is ideally suited for the introduction of an industry-recognized, widely-held, limited supply utility token for the purpose of an intra-community payment system. Gamers are highly familiar with in-game value units with in-game economies now being built into most game ecosystems.
However, there is currently no recognized mechanism to connect multiple game ecosystems, to allow gamers to monetize their gameplay content and to finance gaming upgrades for the benefit of game developers.
In addition, although e-sports has grown rapidly over recent years, there is currently no mechanism for head-to-head gaming for value without the support of sponsorship or by direct player contribution.
Fruitlab is a head-to-head gaming platform for AAA video games (e.g. Fortnite) with social media capabilities and NFT collectables.
It has over 750k users live on the platform in over 90 countries.
FruitLab approached Aventus with the problem of properly engaging its user base through Web3 with their exiting loyalty program.
We enabled the conversion of Fruitlab’s loyalty program through the Aventus Network to deliver PIP, a token that Fruitlab platform users can earn, trade and sell, creating a universal play-to-earn framework for gaming and content, and supported Fruitlab through the launch process.
The token creates an economic incentive for users to earn from playing video games based on their skill and the content they create around the game, drives new users to the platform and supports a return profile correlated with platform activity.
With the Aventus-enabled token, Fruitlab has raised almost $4M, and has a market cap of around $35M.
Increased user base from 600k to 750k in one quarter, with 100k monthly active users.
To date, over 1.3M user-generated video uploads have been recorded with over 650M video views generating 7.6B untokenized PIPs.
The Aventus Gateway framework has opened the door for us, giving us a truly scalable, simple solution with the flexibility we need. It’s been very easy to integrate PIP – our universal gaming rewards token – into the Aventus Network, and NFTs are now firmly on our roadmap.
Cameron Leslie, Managing Director of Fruitlab