London-based gaming startup Tribally aims to transform the play-to-earn (P2E) industry by introducing an innovative model prioritizing sustainable rewards and enhancing player experience.
Tribally introduces “wagers,” a unique mechanism that allow players to amplify their earnings while maintaining the integrity of in-game economies. By using $TRIBAL and $USDC as wager currencies, players earn a percentage commission on all wagers placed. The revenue is distributed strategically among players, the game’s ecosystem, and the platform’s peer-to-peer (P2P) wagering service, creating a mutually beneficial “win-win-win” scenario.
“Unlike traditional P2E games, where rewards are often directly tied to in-game economies, Tribally’s wager system offers a more sustainable approach. By abstracting rewards from the game’s economy, Tribally ensures that players earn based on the overall betting volume. This helps to sustain the value of rewards as more players join the ecosystem on gaming tokens and promotes a fairer distribution of rewards,” explained Tribally CEO David “Best” de-Vilder.
Tribally is a gamer’s social network aimed to foster a vibrant community and an “attention economy” for players to monetize the value they generate. Since launching in November 2023, the platform has seen impressive growth, attracting 70,000 active gamers by the end of July 2024.
P2E Gaming in the Philippines
Tribally revealed that most players, supporters, and team members are from the Philippines, making its strategic focus for the company a natural decision.
“The Philippines has an unmatched passion for gaming in general. We believe that the strong community here aligns perfectly with our vision of fostering sustainable, community-driven play-to-earn experiences,” shared Tribally’s market analyst “Indes.”
Tribally partnered with Bitskwela, a local Web3 edutech company, to offer an on-chain gaming education program for the general public and students. The program will include online courses, educational content featuring prominent influencers, and detailed user guides on Bitskwela’s platform to equip Filipinos to get started and thrive in the P2E ecosystem.
Tribally and Bitskwela will also roll out a university tour across the region in the fourth quarter of 2024, featuring interactive gaming workshops designed to empower students with the skills and knowledge needed to navigate the dynamic world of on-chain gaming.
“Tribally’s commitment to elevating Web3 gaming resonates deeply with our mission to empower Filipinos with the knowledge and skills to thrive in this exciting space. By providing access to both exciting P2E opportunities and essential educational resources, we’re helping Filipinos unlock new possibilities within the Web3 space,” said Bitskwela CEO Jiro Reyes.
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