Param Labs, a leading Web3 gaming infrastructure company, is gaining recognition for onboarding more than one million users via its Param Points airdrop.

The campaign, which acts as a gateway to its soon-to-come $PARAM token, allows early supporters to collect points by completing simple tasks. These points can later be exchanged for $PARAM.

Param Labs is a leading game and infrastructure development company leveraging artificial intelligence and blockchain technologies to advance the rapidly growing US$200 billion gaming industry. Its ecosystem gives players digital ownership of their gaming assets, and enables the creation of user-generated value across their experiences.

Param’s team boasts of experienced professionals from renowned companies such as Activision, EA, and Ubisoft. This team has achieved over $40 million in earnings before interest, taxes, depreciation, and amortization (EBITDA) revenue. Param Labs is also working with world-renowned artists Antoni and Marc Tudisco for game and character designs.

Param Labs’ rapid ascent to prominence can be attributed to its flagship Web3 game, Kiraverse. Kiraverse is a multiplayer third-person shooter game that allows players to compete, earn, and trade digital assets like characters and skins. 888 NFTs for the game (the Kiraverse Box collection) also sold out in seconds on Magic Eden, a global community-centric non fungible token (NFT) marketplace, last week.

The company has generated over $4 million in revenue in the past 12 months through NFT sales. So far, Param Labs has distributed over $1 million in value back to holders via tradable skins. Furthermore, Param Labs has quickly become one of the top-followed Web3 projects. A range of organic campaigns has attracted a diverse and active audience, including 313,000 followers on X (formerly Twitter), as well as a community of 218,000 users on Discord.

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Image courtesy Param Labs.

Unlike its competitors, Param Labs offers a unique proposition- a comprehensive ecosystem that extends beyond just one game. Though Kiraverse has been a cornerstone of its success, the company is actively developing a robust infrastructure to power the next generation of Web3 gaming.

For example, its Pixel-to-Poly service lets users transform 2D images into 3D playable in-game characters. This feature is compatible not only with Kiraverse, but also with popular Web2 titles, including Fortnite and Grand Theft Auto V.

Also in development is technology to equip developers with the necessary tools they need to effortlessly onboard and elevate the experiences of users playing blockchain-based games.

In addition, Param Labs aims to promote the Web3 ecosystem’s growth through its strategic partnerships with major esports organizations. Currently, it boasts over 50 intellectual property partnerships with notable brands such as GameStop, Pudgy Penguins, Mocaverse, and more.

Earlier this month, Param Labs secured a strategic investment from Animoca Brands to accelerate the development of its Web3 infrastructure. Animoca Brands is one of the leading Web3 companies using blockchain to deliver digital property rights for gaming and the open metaverse. They are the creators of original games such as The Sandbox, PHANTOM GALAXIES™, Life Beyond, Crazy Defense Heroes and more.

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