London-based gaming startup Tribally is transforming the play-to-earn (P2E) industry with an innovative model that prioritizes sustainable rewards and enhances player experience.
Tribally is a social network built for gamers, fostering a vibrant community and an “attention economy” where players can monetize the value they generate. $TRIBAL, the platform’s native token, serves as a key element, unlocking exclusive perks, powering social features like P2P betting, and allowing users to stake their tokens for a share of the network’s growth.
Tribally’s innovative P2E system introduces “wagers,” a unique mechanism that allows 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. This revenue is strategically distributed where a portion goes directly to the players, another supports the game’s ecosystem, and the remainder sustains Tribally’s peer-to-peer (P2P) wagering service, creating a mutually beneficial “win-win-win” scenario.
Since its launch in November 2023, Tribally’s gaming platform has seen impressive growth, attracting 70,000 active gamers by the end of July 2024.
“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,” Tribally CEO David “Best” de-Vilder said.
Tribally’s market analyst “Indes” revealed that the majority of their players, supporters, and even team members are from the Philippines, making it a strategic focus for the company.
“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,” Indes added.
The introduction of the “wager” system enables blockchain gamers to fully monetize their time spent playing Web3 games partnered with the platform, including popular titles like Axie Infinity, Apeiron, Pixels, Mighty Action Heroes, and more.
In the Philippines, where Axie Infinity became a cultural phenomenon during the pandemic, Filipinos accounted for nearly half of the game’s global player base, which peaked at 2.7 million daily active users (DAU).
Tribally was a key player in Axie’s rise by building Axie Tech, a platform used by over 1 million players at its peak. They also developed AxieInfinity.com, the official home page of the Axie Universe, and the official Axie Merch Store, marking the first commercial use of Ronin Pay.
Meanwhile, Pixels reports that around 30% of its players are from the country, contributing significantly to the platform’s over 1 million DAU.
Building on this strong foundation, Tribally has partnered with local Web3 edutech company Bitskwela to offer a comprehensive on-chain gaming education program aimed at both the general public and students.
The program includes online courses, educational content featuring prominent influencers, and detailed user guides on Bitskwela’s platform, aiming to equip Filipinos with the knowledge and best practices needed to thrive in the P2E ecosystem.
Additionally, Tribally and Bitskwela will roll out a university tour across the region in the last 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,” Bitskwela CEO Jiro Reyes said.
