Fitchin launches Web3 gaming and esports community

Fitchin has launched a Web3 gaming platform that combines cryptocurrency, blockchain games, and esports.

A digital esports ecosystem powered by blockchain, Fitchin said it enables its community to compete in tournaments, obtain members-only access to community hubs from top esports teams, purchase limited-edition non-fungible token (NFT) collections, and participate in exclusive events and experiences.

Playes will be able to earn rewards for milestones and contributions. The platform’s “play-to-earn” gaming economy provides a one-stop-shop for connecting and servicing the global esports community, the company said.

Fitchin’s leaders, including CEO Santiago Portela, come from sports, gaming, crypto, finance and media.

“Fitchin is the partner of choice for professional esports teams and content creators that want to grow their fan base through value-add experiences, while also generating new revenue streams,” said Portela, in a statement.

Sergio ‘Kun’ Agüero, a gamer and streamer professional soccer player, is the main brand ambassador and lead adviser. He is the CEO of KRÜ Esports. Additional partnerships and strategic advisory roles will be announced later this year.

“Fitchin is opening the gateway to onboard millions of gamers into the crypto world, and it will shape the future of how esports teams interact with their communities in Web3,” said Agüero in a statement. “Its platform helps teams grow a more loyal fan base and monetize engagement, while giving gamers everything they want in one place: exciting competitions, social interactions with pro players, NFT collectibles, and more.”

The Fitchin ecosystem will offer a four-pronged user experience:

• A gamified tournament platform where gamers can play, join global leagues, compete in tournaments representing their esports communities, and earn badges, XP points and P2E rewards.
• Community hubs where gamers can connect with their favorite teams and streamer communities and access exclusive member-only benefits and experiences. These perks include voting rights, private chats, exclusive events and competitions, limited collections and more.
• An esports digital marketplace, where gamers can buy membership passes, NFT collections, purchase tickets to events and get merchandise from teams and content creators.
• Fitchin Metaworld, a metaverse playground for the community to have its own clubhouse, showcase its achievements, mingle and compete inside this new digital frontier.

Fitchin will be hosting several tournaments following its launch. The company has about 30 people and it will be announcing its funding detailslater. The company was founded in January after a discussion between Aguero and Portela. During these discussions, Fitchin founders identified a pressing need for a platform that allows teams and content creators to connect more intimately with their communities, and that also generates new revenue streams in ways that leverage the power of Web3.

I asked how the negative reaction to NFTs from some gamers has affected the company’s strategy. In an email, Portela said, “Our opinion is that the execution of NFT collectables has to happen thoughtfully and strategically, and have value-add features, in order to receive the right response from the community. Ebay’s recent entry into the marketplace, with an assist from an athlete, is an example of the momentum that this space carries, and the value that we see in athlete partnerships. We believe NFTs are still an integral vehicle for assisting non-crypto gamers in getting involved with Web3 and participating in this new era of gaming. Despite the recent slides in value that we’ve seen, we believe that NFT projects that are based on strong fundamentals are here to stay.”