NEW YORK, NY / ACCESSWIRE / April 5, 2022 / PDX Global (www.pdxcoin.io) and digital gaming startup Peacock Mantis Shrimp Token (www.mantisshrimptoken.com), ("PMSP") have announced a new strategic partnership and cooperation agreement that will incorporate PDX's upcoming global crypto-to-fiat payments app into PMSP as its designated payments channel for blockchain-based online and metaverse gaming products. All users participating or gaming within the PMSP ecosystem will be required to download and use the PDX payments app. PMSP and PDX also expect to develop metaverse sports, entertainment content, going forward, and develop gamification features for PDX and its payments app suite.
In addition to the above strategic partnership, PDX and PMSP have agreed to create a new joint venture company in the crypto payments space, alongside a group of investors contributing US $1.5 million of new equity capital. PDX and PMSP are each expected to own up to 40% of the new venture, with outside investors and advisors owning the rest.
The joint venture has identified a lucrative and high-growth payments niche, where consumers use cryptocurrency to pay for shipping labels when they purchase goods from ecommerce sites. The venture will typically pay for shipping labels at a fixed 20% or greater of the retail price for such labels, locking in guaranteed margins. There are hundreds of thousands of such sites globally, and each site has hundreds, or thousands, sometimes hundreds of thousands, of customers. Presently there are effectively no barriers to entry.
The joint venture represents an opportunity to embed the PDX payments app into many thousands of ecommerce sites and at the same time gain valuable exposure to potentially millions of retail user downloads. PDX and PMSP have already studied the rapid growth of one other ineffective participant in this space, which grew from nothing to tens of millions of dollars in revenue in four years with very few staff, little overhead, and no money spent on marketing. PDX and PMSP expect that they can build this venture into a business valued at $5 billion within five years, while rapidly growing PDX's revenue from payments processing.
About Peacock Mantis Shrimp Token
PMSP is a tokenized gaming and betting-based token that has recently publicly launched on Pancakeswap (Symbol: PMSP). Its core consumer product is a boxing game modeled on a proprietary character, the peacock mantis shrimp. Users will be able to bet on virtual boxing matches starring the characters. The game is being extended soon into the metaverse, for an enhanced user and better experience. The game will use PDX's new global mobile and web-based crypto-to-fiat payments applications to enable players and bettors to make fast and seamless payments online and in the metaverse. A later version of the payments app will include a metaverse UX, allowing users to easily make payments in the metaverse without having to temporarily leave that environment.
About PDX
PDX built and launched PDX Coin, a utility token built on the Ethereum network as an ERC20 token, which trades on several cryptocurrency exchanges including P2PB2B, Uniswap, XT.com, and soon LBank. PDX is developing a unique and proprietary technology platform that will enable users globally to quickly and seamlessly use any traded crypto asset to make a payment, while simultaneously settling with merchants and vendors in their preferred fiat currencies, via its own banking and payments processing platform, and outside settlements and clearing functions, thereby allowing merchants and vendors to be settled instantly and with much lower fees, versus the legacy system of waiting days for settlement and paying high transaction processing fees. For more information visit www.pdxcoin.io.
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SOURCE: PDX Coin