About

Portal Gaming is a Web3 gaming platform that aims to provide interoperability specific to crypto gaming and GameFi projects across numerous blockchains. The project team’s intention is for the platform to serve as a universal access point for any existing or future Web3 game and for players to be able to log into a single Portal Gaming account and have access to the same cryptocurrencies and NFTs no matter which game is being played, or the blockchain on which it is being played. Project development incorporates LayerZero’s technology to achieve this desired level of interoperability. Each user receives a Portal Pass NFT, which is the onchain account and onchain verification of the user’s PORTAL holdings. The PORTAL token is also intended to be used as a form of payment for any of the games accessible with Portal Gaming. The project team claims that over 200 games could be supported by Portal Gaming; however Portal Gaming is not live, and a potential launch date for the platform has not been announced.

History

Portal Gaming was created in May 2023 by Dan Keene and an anonymous founding team with the goal to “onboard the first billion gamers into Web3.” The project first released its PORTAL token on Binance Launchpool. Users were required to stake either BNB or FDUSD to receive the token. Over ~$8.60 billion in value was staked to receive PORTAL, which set a record at that time for the highest value staked in a Launchpool. The tokens were airdropped to participants on Feb. 29, 2024, and the token opened at ~$2.50 billion fully diluted market capitalization.

As of April 2024, the Portal Gaming product is still in development, and only one of its features is available for public access. This is the staking feature, which follows a similar model to Binance Launchpool. Users can stake PORTAL tokens to receive project-specific tokens for games that launch with Portal Gaming. As of April 2024, one game, Somo, has been launched with Portal Gaming.

Access to the project’s future aspects, such as Founder’s Nodes and SDK, are only available through private requests and are granted at the project team’s discretion.

In addition, staking is the only active feature of the PORTAL token. In the future, the project team intends to enable tokenholders to (i) make in-game and website purchases, (ii) earn rewards by operating a Founder’s Node, (iii) and participate in governance. A commercially reasonable search did not uncover any additional information or a potential release date for any of these future features.