Galactic Entertainment Publishing, led by industry veterans including Mark Meyers, former head of Disney’s AAA Studios, recently announced the creation of their new division dedicated to transforming the gaming landscape. Their first franchise this new model includes Planet Quest. The game challenges the traditional free-to-play system and offers players the opportunity to truly own their in-game assets.
Moving away from traditional free play
The prevailing free-to-play model has come under increasing scrutiny due to the high costs for publishers and developers and the pressure it puts on players to make ongoing in-game purchases.
Galactic Co-founder Mark Meyers acknowledges these issues, stating: “Engaging the community early and rewarding them for their participation with in-game goods they actually own benefits publishers, developers and players, through the ad -reduce publisher spending and provide feedback to developers and deliver better matches to players.”
Meet Play-to-Own innovations
Galactic’s play-to-own model is powered by blockchain technology, allowing players to actually own and trade their digital assets within the game. This not only gives early adopters a sense of ownership, but also protects them from the risks of the black market and account bans.
CEO and founder Loren Roosendaal emphasizes the importance of this shift, stating in the announcement: “It bears saying that we believe the current free-to-play model is broken. It’s insane to think that players spend over $100 billion and hundreds of hours of their free time every year collecting in-game items that they don’t actually own.”
Looking to the future
Planet Quest marks the beginning of the new era in gaming they want to create, with community participation and ownership at the forefront of Web3 gaming. With more than 250,000 fans involved in co-creating the game’s storyline and lore, Galactic is paving the way for more interactive and immersive gaming experiences.
PlanetQuest also aims to build a cinematic multiverse from scratch, with a wide range of products including a video game, a decentralized storyline, a book and a graphic novel.
In the announcement, Chief Creative Officer Jon McCoy added: “Of course, no first attempt at something new is perfect, but it was exciting to work with the fans to create a sci-fi universe in a way that has never been attempted before. I’ve been able to fulfill many of my childhood dreams, working on Star Wars, Blade Runner and Marvel films to name a few, but little compares to the opportunity to work with the to communicate and build fans.”
With the launch of their first franchise, PlanetQuest, and a major airdrop campaign allowing fans to collect in-game currency, Galactic is gearing up for a busy year of new releases across various mediums. Furthermore, this could be just the beginning, as they recently acquired the rights to develop a play-to-own gaming universe based on an undisclosed billion-dollar Hollywood film franchise, according to the announcement.