Compiled by: JIN, Techub News Yesterday, Binance Launchpad launched the 47th project Portal. Users can get Portal token PORTAL rewards by staking BNB and FDUSD on the Launchpad website. PORTAL can be mined for a total of 7 days. As of the time of writing, according to Binance data, the PORTAL mining pool has pledged more than US$8 billion in assets, of which the BNB mining pool has deposited more than 16 million BNB (about US$6 billion); the FDUSD mining pool has deposited more than 2 billion FDUSD (about US$2 billion). In the last bull market, Binance successfully "selected" the chain game Axie Infinity, which was very popular in the middle of the bull market. In addition to successfully introducing the mechanism of card games into the Web3 world, the Ethereum sidechain Ronin Network launched later has also become the first choice for infrastructure for many games today. Binance's previous Launchpool project was also the social network game Pixels built on Ronin. So what kind of project is the Portal that was selected this time?
What is a Portal?
Portal is a Web3 gaming platform, and the platform’s native token is PORTAL. Portal aims to improve the user experience of Web3 game interconnection and become a link between Web3 games and gamers, allowing players to not only log in and play in any Web3 game, but also NFT game props in different games can be circulated with each other, even games that are not on the same chain. Portal completed its token presale on December 14 last year. Within the first 15 minutes, the presale raised nearly $10 million and generated more than 5.2 million transaction requests. The demand for private tokens and presale tokens exceeded the supply by three times, but the total presale amount has not yet been disclosed. According to the previously released white paper, by cooperating with LayerZero labs, games and gamers on different blockchain networks can be connected, changing the way mainstream audiences participate in Web3 games and lowering the threshold for players to play Web3 games.
Background of the project
⌜The gaming industry will grow by nearly $100 billion in the next four years. Portal puts Web3 at the heart of this growth cycle by connecting the best blockchain games to mainstream audiences⌟ The emergence of Portal can solve a key problem for Web3 games: game distribution. Through the technical support of LayerZero and cooperation with the Binance ecosystem, a user-friendly gaming platform is provided to users of the entire blockchain ecosystem, which not only attracts Web3 players on different chains, but also connects more gamers from Web2. Portal also issued 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 secure 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.
project team
According to the information disclosed by Portal in recent days, the members of Portal Advisory Board include:
John Yao: CEO of esports club Team Secret. John Yao will provide insights and resources into the mainstream esports space. Team Secret is a European professional team founded in August 2014, mainly participating in competitive games such as League of Legends and DOTA 2.
Jamie King: Co-founder of Rockstar Games. Rockstar Games is the game development division of Take-Two Interactive, founded in 1998. The company's works are best known for the Grand Theft Auto series.
However, according to Jamie King’s LinkedIn work experience, he had already left Rockstar Games in 2006. According to GAMERANT, the reason why Jamie King parted ways with Rockstar Games was that the game producers had differences in the development direction after the success of "Grand Theft Auto". Jamie King’s main responsibilities at Portal are to promote the inclusion and linkage of Web2 games, as well as to provide advice on game and IP creativity and direction strategies.
Russell Hanson: He served as Chief Scientific Officer of the Consensys Endjinn AI team from 2018 to 2019, responsible for developing and improving artificial intelligence models for cryptocurrency. Russell Hanson will introduce generative AI + automation to Portal and its growing library of games and digital assets.
Matt Dixon: Served as Director of Business Development at Electronic Arts from October 2016 to August 2022.
Portal Gaming’s strategic investors include Newman Group, which will advise Portal Gaming on its Asia strategy. Gaming partners include Space Nation, Oxya Origin, Nine Chronicles, Crypto Unicorns, MagicCraft, DeFi Kingdoms, etc. Other partners include LayerZero, Magic Eden, M80 (e-sports and gaming organization) and MWE (entertainment and cultural organization).
Project Economic Model
The maximum supply of PORTAL is 1 billion, which will be minted at the beginning of the mainnet launch and then released to the community treasury over time. The main uses of the tokens are as follows:
Transactions: Users can use PORTAL to purchase game items and other game products in online games.
Cross-chain fee token: Users can use PORTAL to pay cross-chain transaction fees.
Staking: Users can stake through Launchpad to obtain newly issued game tokens and NFTs.
Nodes: Users can purchase PORTAL nodes to assist the network with verification.
Network consensus: Users can stake PORTAL into nodes and become Portal network node validators.
Project economic model diagram
Token Allocation
Portol Roadmap 2024
Q1 2024:
PORTAL TGE: Launch of PORTAL tokens on a leading CEX and listing on Ethereum mainnet.
Web2 Game Collaboration: First major Web2 game collaboration for esports + digital collectibles.
Foundation: Launch the Portal Foundation and continue working towards decentralized governance of the Portal platform and ecosystem.
Portal Staking: Launch ⌜Stake-To-Access⌟ and stake PORTAL to earn points to use within the Portal Launchpad.
Portal Node: Launch the Portal Node network and allow PORTAL holders to become validators within the Portal network.
Discovery Platform: Launch the Portal Discovery Platform to showcase the best Web3 games in the Portal ecosystem.
Launchpad: Web3 game projects can issue game tokens through the Portal platform, enabling PORTAL holders to obtain the latest GameFi tokens and NFTs from the Portal network.
Second quarter of 2024:
Game Wallet: Launching the Portal Game Wallet and Game SDK for simple integration. The wallet is an MPC wallet with ⌜Web2 Auth⌟ for seamless access.
Marketplace SDK: Launch a portal market SDK for cross-chain asset transactions.
Web2 game linkage in the second quarter: Web2 IP linkage of e-sports + digital collectibles.
Cross-chain expansion in Q2: Expand PORTAL and the gaming platform to new chains.
Q3 2024:
NEXUS (DEX): Launch of Portals cross-chain liquid game exchange for seamless asset-to-asset trading
Web2 game linkage in the third quarter: Web2 IP linkage of e-sports + digital collectibles.
Cross-chain expansion in Q3: Expand PORTAL and the gaming platform to new chains.
Fourth quarter of 2024:
Web2 game linkage in the fourth quarter: Web2 IP linkage of e-sports + digital collectibles.
Cross-chain expansion in Q4: Expand PORTAL and the gaming platform to new chains.
Conclusion
Portal’s narrative has aroused great expectations among a large number of entertainment game users. If it is successfully implemented according to its preset path, it is bound to become a masterpiece in the field of Web3 and games. As Potal continues to develop and grow, it is believed that it will bring more opportunities and value to users, while contributing to the development of the entire cryptocurrency ecosystem and. However, whether it can tokenize the Portal wallet by integrating game assets on different chains remains to be seen. After all, users are concerned about the long-term value of the currency price.
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