A new form of making money from gaming has rocked the NFT gaming world. For those new to the platform, NFT stands for ‘non-fungible token’ which can be anything from an artwork to a coin. With the new take on NFT gaming – CGU, or Crypto Gaming United – founder Sergio Sergienko takes the concept and improves it by offering a genuine chance for players to make real profit simply by playing a game.
Initially launched in Australia and the Philippines, Sergienko believes the new ‘Play-to-earn’ concept turns the NFT gaming world into a more attractive proposition, especially for players in the developing world. So, who is Sergienko, and why is CGU an important development in the NFT and cryptocurrency world?
Who is Sergio Sergienko?
Sergio Sergienko is a respected name in the cryptocurrency and blockchain markets. His best-known project before CGU has been the start-up – Chrono.Tech. From its Sydney headquarters, Chrono.Tech allows prospective employees and HR managers to match with each other, simplifying the process and therefore reducing recruitment costs.
What is the Thinking Behind CGU?
A pioneer in NFT gaming, Sergienko champions the concept of people being paid in cryptocurrency for playing games. CGU and its ‘Play-to-earn’ concept add a new dimension to the NFT platform and provides greater appeal for the player in the developing world. Sergio explains:
“I have always adhered to the principle that people should be paid cryptocurrency for the time they spend working. That was the basic principle of the Chrono.Tech start-up. And when we added a game section to the system, the growth was insane – our traffic tripled.”
“I realised this approach could win over the NFT sphere. The idea is that people get SLP tokens for their time in the game, and then they can exchange them for cryptocurrency or sell them to other participants.”
However, the real development in CGU is that the players no longer have to buy characters. Usually, a new player in the NFT sphere must pay around $2000 to enter, for which they claim a character. Sergienko recognised this as a barrier to many, hence with CGU the ‘superhero’ character is effectively hired by the player. This means they can start earning immediately. The player takes 45% of earnings on a given day, with the remainder being taken for maintaining and running the platform, and as returns for investors.
How Do Players in Developing Economies Profit from Gaming?
While income is not great – a new player, for example, may earn $10 to $15 per day – for players in the developing world the ‘Play-to-earn’ concept is a welcome method of earning extra money where wages are poor. As Sergienko explains:
“We are looking for people who want to increase their income by at least $10 per day which, for many people in developing countries is a reasonably high income, difficult to get even with a full-time job. “
CGU will be rolled out in further countries in parts of Africa and Asia, and with a $5million initial investment the future looks bright for this innovative take on NFT gaming.
Having received a $5 million investment during a seed funding round in 2021, CGU are well equipped to expand to other countries in parts of Africa and Asia and capitalize on gaming guilds in the future. CGU is currently finishing up their pre-IDO plan to raise $10,000,000 and getting ready for the IDO public token sale in October.