The vast majority of cryptocurrency price support comes from enthusiastic community groups. Web3 game ecosystem Portal attracted a large number of KOLs, ordinary users and other Web3 users to participate in its ecological construction through the viral marketing of the X platform at the end of 23 years. The average number of likes on the posts on the X platform reached 12,800, and the average number of retweets reached 8596 times. The number of discussions about Portal on the X platform was about 20,000, of which 6,385 (about 30%) discussion tweets were intelligently identified as positive information. Portal Game has nearly one million views in 24h under almost every tweet.
A token sale-related tweet posted by Portal on December 8 received 28,000 likes, 35,000 reposts, 341,000 comments, and 9.10 million views, making it a smash hit.
Portal aims to establish a unified Web3 game ecosystem by working with LayerZero to connect games and players on different blockchain networks, and provide players with access to a large number of games and game distribution opportunities. And this is exactly in line with The First's crypto chain game construction plan. According to the official announcement of The First, The First will launch PORTAL (Portal) in the spot area at 16:00 (UTC + 8) on May 16, 2024.
What is Portal?
Portal is a Web3 game aggregation platform. According to the official introduction, its Portal integrates 100 + games including DeFiKingdoms and SpaceNationOL, which have raised more than 12 billion US dollars. Portal aims to improve the user experience of Web3 game interconnection and become a link between Web3 games and gamers, so that players can not only log in to any Web3 game to play, but also NFT Game Props in different games can also be circulated to each other, even games that are not on the same chain can be realized.
The appearance of Portal can solve a key problem of Web3 games: game publishing. Through LayerZero's technical support and cooperation with the Binance ecosystem, it provides a user-friendly game platform for the entire blockchain ecosystem, not only attracting Web3 players on different chains, but also linking more gamers from Web2.
Portal also published the Portal Passport pass, which can interact and integrate the digital assets of gamers on different chains. Portal uses LayerZero's full-chain protocol to realize the fast and safe cross-chain of digital assets, which greatly improves the liquidity of game assets including NFTs and game tokens, which means that it can attract players on different chains and improve the playability of the game.
Portal completed the token pre-sale on December 14 last year. In the first 15 minutes, the pre-sale raised nearly 10 million US dollars, generating more than 5.20 million transaction requests in total. But officials said that its endogenous token $PORTAL will not only be used for in-platform games, but also will aggregate markets such as Magic Eden. $PORTAL will become a common token for all on-chain games linked by Portal.
The gaming industry will grow by nearly $100 billion over the next 4 years. Portal places Web3 at the heart of this growth cycle by connecting the best blockchain games to a mainstream audience. The official Portal team hopes that through the Portal platform, the complexity of game interaction on the heterogeneous chain can be eliminated.
In fact, Portal eliminates the isolation of game assets, and ecological participants can run nodes based on the Portal Web3 engine and LayerZero repeaters to provide verification of cross-chain transactions, thus realizing the interoperability of assets.
This provides a one-stop login solution for web3 games, integrating player identities and assets across various games; and introduces a Middleware to manage on-chain transactions for games, improve gameplay, and allow players to participate in games without the need for in-depth Web3 knowledge (i.e., a non-sensory application service for Web2 players).
Portal hopes to build a platform like the one mentioned above to integrate gamers and game developers, achieve decentralized governance, and ultimately promote the development of the portal ecosystem.
II. Economics of Portal Tokens
Strategic investors in Portal Gaming include the Newman Group, which will advise on Portal Gaming's Asia strategy. Game partners include Space Nation, Oxya Origin, Nine Chronicles, Crypto Unicorns, MagicCraft, DeFi Kingdoms, and others. Other partners include LayerZero, Magic Eden, M80 (E-sports and gaming organization), and MWE (entertainment and cultural agency).
In December 23, Portal officially announced the completion of a new round of strategic financing , the specific amount has not yet been disclosed, Sotheby's vice president and head of digital art and NFT Michael Bouhanna, MonnPay co-founder Max Crown, 9 GAG CEO 9 gagceo, Pixelmon CEO GiulioX, Parallel co-founder Kalos and other participation.
The maximum supply of PORTAL is 1 billion pieces, which are minted at the beginning of the mainnet launch and then released into the community vault over time. The main uses of tokens are as follows:
- Used to pay transaction fees. Transaction fees consist of cross-chain transactions verified by Portal nodes and native fees on the Portal network. After players pay transaction fees, some will be destroyed, and some will be placed in the vault. The tokens placed in the vault will be redistributed to nodes, game developers, and back to players.
- As a price marker and payment option, all transactions within the Portal network will support Portal tokens as one of the payment options in-game or game-related markets, and all fees associated with any cross-chain transactions made through the Portal network will be denominated in Portal tokens.
- Use as voting and staking gameplay: Players and gameplay can earn rewards by staking, and can also help games gain greater visibility and attention on the Portal Gaming platform by voting. Portal calls this incentive system a stake-to-scale system that not only benefits both players and the game, but also decentralizes game distribution.
- Portal tokens can also play a natural role in providing central liquidity for game tokens and game assets on the chain, thus reaping some of the economic benefits of the Portal ecosystem as a whole.
Token distribution scheme
- Maximum supply of tokens: 1,000,000,000 PORTAL
Initial circulation: 167,134,615 PORTAL (16.71% of total tokens)
Total mining volume: 5%, of which BNB mining pool accounted for 40 million and FDUSD mining pool accounted for 10 million.
Teams and consultants: 23%
Private investors: 22%
Public offering investors: 11%
Community Incentives: 14%
Liquidity reserve: 2%
The narrative of Portal has excited a large number of entertainment game users. If it is successfully implemented according to its preset path, it will inevitably become a major masterpiece in the Web3 and gaming fields. With the continuous development and growth of Potal, it is believed that it will bring more opportunities and value to users, and contribute to the development of the entire cryptocurrency ecosystem. However, whether it can implement Potal wallet tokenization by integrating different on-chain game assets remains to be seen. After all, users care about the long-term value of the currency price, which also makes the launch of Portal The First have strong market feedback significance.