LONDON-based gaming startup Tribally is disrupting the play-to-earn (P2E) landscape with its innovative approach, aiming to provide a more sustainable and rewarding experience for players.
The platform functions as a social network for gamers, establishing an “attention economy” where players can generate value and monetize their engagement. Tribally’s native token, $TRIBAL, is central to the platform’s ecosystem, unlocking exclusive features and opportunities for users.
Tribally differentiates itself with a unique “wager” system, allowing players to potentially increase their earnings without directly impacting the game’s internal economy. Players use $TRIBAL and $USDC to place wagers and earn commissions on the total bet volume.
Since its launch in November 2023, Tribally has reportedly attracted 70,000 active gamers as of July 2024.
“Unlike traditional P2E games where rewards are tied to the in-game economy, Tribally’s wager system offers a more sustainable approach,” stated Tribally CEO David “Best” de-Vilder. The platform’s model aims to decouple rewards from the game’s internal economy, ensuring a more consistent reward structure even as more players join.
The Philippines has emerged as a key market for Tribally, with a significant portion of its player base, supporters, and team members hailing from the country. Tribally’s market analyst, “Indes,” highlighted the Philippines’ strong gaming community as a perfect match for their vision of a sustainable, community-driven P2E ecosystem.
The platform integrates with popular Web3 games like Axie Infinity and Pixels, enabling players to monetize their time and attention. Tribally has also partnered with Bitskwela, a local Web3 education company, to offer gaming education programs. The collaboration aims to empower Filipinos with the knowledge and tools to navigate the P2E gaming world, offering online courses, workshops, and informative content.
“Tribally’s commitment to elevating Web3 gaming aligns with our mission to equip Filipinos with the knowledge and skills to thrive in this space,” expressed Jiro Reyes, CEO of Bitskwela.
Tribally’s innovative P2E model and focus on education suggest a potential shift in the P2E landscape, particularly in the Philippines. While the platform’s long-term success remains to be seen, its early growth and strategic partnerships highlight a growing interest in sustainable and community-driven P2E gaming experiences.