On April 23, the blockchain gaming platform GuildFi announced a rebranding to Zentry, with plans to create a "Superlayer" game to reward all types of gamers, including not only multi-chain games but also Web2 games and various real-world social experiences. The new brand, Zentry, will pioneer a new model called the Play Economy, where the fusion of the physical and digital worlds has already begun, bringing new dimensions to gameplay.
In 2021, GuildFi raised over $140 million primarily through community token sales, and also received investments from well-known companies such as Binance Labs, Coinbase Ventures, and Animoca Brands. The company stated that as of early 2024, its reserve value exceeded $100 million, including crypto assets, tokens, equity investments, and owned NFTs.
The company initially started during the Axie Infinity era, running a scholarship program that provided in-game NFTs to players in exchange for a portion of their gaming income. At that time, GuildFi also aspired to achieve broader goals, outlining a cross-game ID plan that would accumulate points across various games and reward player participation.
Embarking on a New Web3 Journey with Zentry
As a crucial part of the rebranding, Zentry will introduce a new ZENT token. Existing GuildFi (GF) token holders on Ethereum can convert to ZENT at a 1:10 exchange rate through the official network portal. The official token migration tutorial will be provided.
Under the Zentry banner, the upcoming blockchain-based Superlayer is the realization of this idea, as founder and CEO Jarindr Thitadilaka described it in a press release as a "game within a game," encompassing not only crypto and NFT games but also gathering data from games played by users on Web2 platforms.
While gaming remains at the core of the experience, Zentry's ambition is grander, aiming to reward user participation in various social and entertainment activities. For example, social media interactions and real-world behaviors tracked through the upcoming app will also contribute to achieving this goal.
According to Thitadilaka, Zentry's flagship app, Radiant, will serve as the user interface, allowing players to progress and accumulate rewards based on their activities in blockchain applications, traditional gaming platforms, social media, and the real world. In the future, users may receive benefits for achieving fitness goals or consistently drinking coffee.
"Our Play Economy is an advanced version of Play-to-Earn, expanding its scope beyond just Web3 or gaming, where every game, every victory, and every moment not only enriches your gaming journey but also improves your real-world, providing unprecedented power to gamers."
Zentry's transformation comes after one of the biggest peers in the Axie Infinity era, Yield Guild Games (YGG), announced its own rebranding from a simple guild to a protocol supporting other guilds. YGG is collaborating with game developers to integrate its guild technology into games, enabling players to seamlessly team up and collaborate in blockchain games.
For Zentry, the goal is to aggregate users' gaming, social, and entertainment behaviors and provide rewards through a shared interface. Thitadilaka explained that it will have the feel of a massive multiplayer online role-playing game (MMORPG), including story elements, to further engage players.
Community members will be able to vote on governance, initiatives, and rewards, but Thitadilaka stated that the envisioned game universe is not a DAO. A decentralized autonomous organization (DAO) is a community structure with decentralized control rather than a hierarchical one, designed to be fully decentralized and governed by community consensus.
Thitadilaka expressed skepticism about the feasibility of a completely decentralized ecosystem in the blockchain industry, mentioning the potential negative consequences of "everyone doing as they please," and suggested a more controlled but participatory approach as Zentry takes off.
"Our game universe goes beyond traditional DAOs," he said. "It has a unique ecosystem core stack, including blockchain infrastructure connecting Web2 and Web3 data, a suite of applications for players, and a diverse IP world deepening engagement through compelling narratives and IP partnerships." Zentry has a story-driven and evolving product ecosystem aimed at changing lives through the game Superlayer.
Thitadilaka believes that the blockchain industry has been focused on Web3 players, neglecting a much larger Web2 player base due to the technical complexity and other high barriers. Zentry's design aims to bridge this gap.
"We're here to solve that problem and leverage these underutilized systems and communities," he said, "not just to grow with the crypto gaming industry, but to be responsible for its growth."
Zentry's Superlayer will benefit both the crypto world and Web2 gamers, as well as encompassing social media and real-world activities, integrating players, AI, and Web3. Ultimately, Zentry will lead the new era of gaming, entertainment, and lifestyle integration.
$GF to $ZENT Migration Tutorial
The migration of GuildFi's GF token began on April 25, 2024, and will last for four months, with an expected completion date of August 25, 2024. The migration methods include: 1. GF holders can manually migrate their tokens by visiting GuildFi's website. 2. If holders store their GF tokens on centralized exchanges (CEX) such as OKX or BitKub, the exchanges will automatically handle the token migration. 3. For GF staked on the platform, GF stakers will continue to receive rewards and will receive further detailed information about migrating to ZENT staking shortly after the token migration is completed.
Follow these steps to manually complete the GF token migration on the GuildFi website:
Step 1 - Go to the Zentry Token Migration Page
Visit the official token migration website guildfi.com/migration to begin the token migration.
Remember, this official URL is the only website for manually migrating tokens.
Step 2 - Connect Your Wallet
After accessing the Zentry token migration page, connect the wallet holding GF tokens.
Once the wallet is connected, the page will display the amount of GF tokens available for migration and the corresponding amount of ZENT tokens to be received.
Step 3 - Grant Access to GF Tokens
Before proceeding with the migration, permission to access the wallet containing GF tokens is required. Approval requires payment of Ethereum gas fees.
Click the "Approve Migration" button to grant access.
Step 4 - Initiate Migration
After the migration contract is approved, you can proceed to migrate GF to ZENT. Completing the transaction requires payment of Ethereum gas fees. Click the "Migrate to ZENT" button to start the migration.
Step 5 - Migration Completed
Once the transaction is processed, you will receive the corresponding amount of ZENT tokens in the connected wallet.
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