UpOnly Completes Inaugural Tournament With Resounding Success
UpOnly's TaaS solution poised to serve more GameFi communities now
UpOnly is excited to announce the successful conclusion of its maiden tournament event. Held in partnership with Nakamoto Games, UpOnly's tournament-as-a-service (TaaS) solution facilitated a blockbuster tournament for the action game Tank Battle. This resounding success paves the way for UpOnly to fully roll out its TaaS Service to GameFi communities seeking a plug-and-play solution for hosting tournaments.
UpOnly's TaaS service addresses a critical gap in the emerging GameFi industry. For the first time, players and game developers can set up tournaments seamlessly to boost community engagement. Tournament hosts can define key event parameters such as dates, potential payouts, payment currency, number of participants, and milestones required to win tournament prizes. Hosts can unlock full platform features by holding and staking $UPO tokens and also have the option to use $UPO as the payout currency.
UpOnly's blockchain-based solution is a game changer as it removes the hassles associated with planning player vs. player and community tournaments. It also attracts increased player participation as predefined payouts ensure that all participants receive due compensation at the end of the event. Rewards and price payouts are stored in a smart contract and are promptly distributed to winners at the event’s conclusion. UpOnly will receive a small fee from the tournament host for providing the service.
UpOnly’s first successful mainnet live tournament is yet another milestone on the mission to deliver solutions that boosts engagement and adoption of play-to-earn gaming. The tournament service also creates additional utility for $UPO and strengthens its position as an asset with unique properties in a saturated blockchain gaming space.