Home
News
Galactic Group, based in Dubai, United Arab Emirates, has announced the opening of Galactic Entertainment Publishing, the company’s first subsidiary. This historic decision could significantly impact the video game industry.
The creator of this AAA Web3 game publisher, Loren Roosendaal, is situated in the United Arab Emirates (UAE).
As one of the first play-to-own publishers in history, he hopes to reinvent the game industry and raise Web3 gaming to Triple-A status.
A Vision Backed by Hollywood & Gaming Legends
Roosendaal has gathered a group of well-known professionals from the video game and film sectors to support his audacious plan.
Co-founder Mark Meyers, a crucial character who brings invaluable knowledge and expertise to the table as the former Head of Disney’s AAA Studios, is one of the essential figures.
Planet Quest: A Pioneering Web3 Gaming Experience
Planet Quest, an ambitious project in development since 2022 that has already attracted a sizable and committed fandom, is the first manifestation of the Galactic Group’s ambition.
Over 300,000 linked wallets are reportedly owned by holders of Planet Quest passports, more than 200,000 of which include one or more Planet Quest NFTs.
The team behind Planet Quest benefits from the extensive background of former workers at Activision-Blizzard, Epic, Disney, and Warner Bros., among other industry titans.
Their combined credentials include various properties, from blockbuster hits like The Batman, Avengers, and Blade Runner to AAA titles like Fortnite, Call of Duty, and Star Wars: Jedi Survivor.
Community-Driven Co-Creation: A Revolutionary Approach
What sets Planet Quest apart is its unique approach to community involvement. Over 250,000 fans have actively co-created the storyline and lore of this Star Wars-esque franchise, culminating in an accompanying trilogy of books, comics, and another game to be revealed later, according to a report from VentureBeat.
This collaborative process has resulted in a genuine and invested community rewarded with in-game assets for its engagement and passion.
Chief Creative Officer Jon McCoy commented, “Naturally, no first attempt at something new is perfect, but it’s been amazing to create a sci-fi universe with the fans in a way that’s never been attempted.”
The Play-to-Own Revolution
At the core of Galactic Group’s vision lies the play-to-own model, which leverages blockchain technology and non-fungible tokens (NFTs) to provide users with full ownership of in-game assets, such as characters, items, or land.
Co-founder Mark Meyers attributed the success of this model to the community built around the project, stating, “Involving the community early on and rewarding them for their participation with in-game goods that they own benefits publishers, developers, and players by reducing publisher ad spend, providing the feedback developers need and getting the players better games.”
Addressing The Limitations Of The Free-to-Play Model
Roosendaal believes that the dominant free-to-play model in the gaming industry is starting to show signs of cracking.
Publishers spend tens of billions of dollars on advertising to acquire new players, driving up costs that are ultimately passed on to players through increasingly expensive in-game purchases.
“It’s crazy to think that players are spending over $100 billion and 100’s of hours of their spare time each year, gathering in-game items they don’t own,” Roosendaal stated, highlighting the need for a more equitable and consumer-friendly approach.
A Transactional Relationship
Unlike the often one-sided setup of free-to-play games, the play-to-own model aims to create a fair relationship between publishers and players.
Galactic Group wants players to own their in-game assets, empowering them to have a say in the game’s direction and ensuring their investments are honored.
Conclusion
With the introduction of Planet Quest and the establishment of Galactic Entertainment Publishing, Galactic Group is ready to bring in a new era of Web3 gaming.
This bold effort aims to transform the gaming sector and push player involvement, ownership, and immersion to all-time highs through innovative blockchain technology, top-notch talent, and a community-focused mindset.
The gaming community may see a significant change as the play-to-own model becomes more popular, shifting the power dynamics in favor of a more rewarding and equal experience for all parties involved.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
