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GalaChain, Through Landmark Shrapnel Partnership, Secures Access to China’s Trusted Copyright Chain
In a groundbreaking move, GalaChain has secured access to China’s Trusted Copyright Chain (TCC) in partnership with Shrapnel. This significant development marks a regulatory milestone for the gaming industry as it opens up new avenues for cross-border transactions and asset ownership.
The newly forged alliance will enable the transfer of digital assets across borders, facilitating the creation of a unified gaming ecosystem. The collaboration also ensures compliance with Chinese laws and regulations, providing rights-holders with a trusted pathway to tap into China’s massive gaming market, which boasts over 600 million players.
GalaChain has made significant strides in securing its position as the first foreign blockchain platform to collaborate with the Trusted Copyright Chain. This strategic partnership will unlock a compliant path for users worldwide to engage in a regulated and secure environment.
Moreover, this alliance will have far-reaching implications on the gaming landscape, empowering developers to build projects that cater to the Chinese market without compromising their vision or values. The collaboration is expected to drive innovation by enabling seamless asset transfer between countries.
The newly forged partnership will also grant Shrapnel, an independent game studio behind Shrapnel, a chance to scale its operations and expand its global reach. With this move, GalaChain has taken the reins in providing a compliant on-chain infrastructure for AAA games, music drops, film premieres, DeFi apps, and more.
As part of the partnership, key highlights have been revealed, including the economic flywheel effect. This will see Shrapnel assets moving between China and other regions consume $GALA, with an on-chain dashboard to display usage. Additionally, up to 10% of the revenue generated from China can be used by Shrapnel for periodic repurchases of $SHRAP tokens on GalaChain.
Furthermore, this alliance has led to a material expansion of GalaChain’s ecosystem activity, as network fees are powered by $GALA. Gala Games CEO Eric Schiermeyer emphasized the significance of this partnership, stating that it allows GalaChain to serve China’s vast gaming community through a platform built for performance and regulatory readiness.
Neon Machine’s CEO Ken Rossman further elaborated on the impact of this collaboration, highlighting its potential to empower users worldwide with true ownership of their in-game assets. He emphasized that this innovation will create a unified, transparent, and innovative gaming ecosystem without borders.
As part of the agreement, GalaChain will also drop a free commemorative Bridge Badge NFT for all Gala wallets and Neon players, providing them with exclusive access to Shrapnel’s first-wave play-test slots and making it the first-ever TCC-mirrored NFT.
Source: cryptopotato.com
