BHO Network partners with Mata, setting the GameFi-Fun trend

BHO Network has recently announced its strategic partner to develop GameFi-Fun products on its blockchain platform after only half a month of releasing the Mainnet. This is the new GameFi trend that is completely free-to-play, where gamers do not have to invest money yet still be able to participate in and experience extraordinary gameplay.

Following the direction of developing the BHO ecosystem, BHO Network has signed a Memorandum of Understanding (MoU) with Mata to develop one of the most attractive aspects of blockchain - GameFi. Tentatively, the first product will be in the Idle-One-Tap category. This type of game is widely favored as it does not require much investment in time or any advanced skill sets from gamers.

Mata is a company with more than 5 years of experience in developing and operating games on the web and mobile platforms. Their signature games, “Blade and Wing” and “Final Clash”, have attracted more than 5 million users, accounting for around 3 million USD in revenues each year. These two games once achieved Top 1 position in terms of downloads and revenues on Google Play & App Store.

As stated in the MoU, in this strategic collaboration, BHO Network team will be working with Mata to bring popular games to the blockchain network. The common goal of BHO Network and Mata is to provide the global gaming community with quality games and at the same time, to help gamers increase income when playing their favorite games. Speaking of this partnership, Mr. Nhat Phan - Co-Founder & CEO of BHO Network said: “We hope that by partnering with Mata, we will bring to the gaming community a wide array of products with fascinating gameplay. From this, BHO Network desires to express its potential and value, as a blockchain with high speed, extremely low gas fee, and the ability to build GameFi platforms. Simultaneously, this strategic partnership also creates a premise for the development of BHO Launchpad.”

Mr. Vu Dinh Hung - CEO of Mata shared: “As a game studio, Mata has experience of more than 5 years in video games and more than 2 years in operating video games on blockchain. To Mata, this strategic collaboration with BHO Network will assist us in the development of GameFi products and, especially, in keeping up with new GameFi-Fun trends.”

According to a report by NewZoo, the video game market marked an unforgettable year with a record revenue of 180.3 billion USD in 2021. With the total number of current game players reaching more than 3 billion people, NewZoo thinks that this market will grow more than many times in the next 3 years. The organization also forecasts the game market will bring in revenue of $218.8 billion by 2024, of which $116.4 billion is for mobile games alone.

Meanwhile, in Southeast Asia, Vietnam's GameFi market is said to be the hottest and most vibrant development in the region, with about 300 games that have been built and launched into the market. In the Philippines, some of the most popular GameFi games have brought in incomes from a few hundred to several thousand dollars for players as they have to cope with the situation of reduced income due to the Covid-19 epidemic.

With BHO Network' blockchain technology background and Mata's experience in developing video games that attract a large number of players, this strategic partnership will help the BHO ecosystem gradually be realized, especially with the gaming community and investors. According to the roadmap in 2022, BHO Network will soon launch products to complete its ecosystem, to maximize the development of GameFi, DeFi 2.0, Web3 and Metaverse projects.