VEMP Studios acquire Penguin Karts

Penguin Karts has announced its strategic acquisition by the VEMP ecosystem, VEMP Studios, to be more specific. The aim of entering into the ecosystem of VEMP is to explore the full potential for higher success. The news was shared by Penguin Karts with the $PGK community through an official blog post.

Other key players in the VEMP ecosystem are:

  • VEMP Ventures
  • VEMP Studios
  • VEMP Guilds
  • VEMP Ventures

The plan of Penguin Karts is to migrate its PGK token and protocol to Binance Smart Chain from Fantom. This is crucial to join the ecosystem of VEMP Games. A verifiable snapshot was taken on January 10, 2023, with the exact time of ownership transfer.

Existing users can initiate the migration process by sending their $PGK tokens to a multisig address – 0xBF909f4213fab3AfEfc28C840d9ffc2516e12afB.

Once migrated, users will qualify for the BSC token in USD with an equivalent value that will match the number of tokens held at the time when the snapshot was taken. The deadline, as reported by Penguin Karts, is February 28, 2023, at 23:59 UTC for the purpose of completing the migration.

Penguin Karts has expressed its excitement about joining the VEMP ecosystem in the blog post, saying that the venture is confident of growing to another level under the leadership of VEMP Studios. Penguin Karts has also thanked its community for its support.

VEMP Ecosystem is a collection of investment initiatives that are built around a financing platform that is permissionless in nature. The same financing platform also powers the operations of the ecosystem. Users, or the community, are at the liberty of coming forward to put the capital that will be deployed for the development activities. The community can even fund the acquisition of on-chain games.

VEMP Studio and VEMP Venture focus on protocols and infrastructure of next-generation gaming, while VEMP Guilds look into monetizing the in-game on-chain assets to lower the entry barrier in terms of blockchain games.

Penguin Karts is a 3D racing game that has been built on blockchain technology. Penguin Karts perfectly blends the elements of mobile gaming, arcade racing, and play-to-earn NFT. Every skin and item in the game can be owned by players, thereby allowing them to see its value increase and sell when the time is right.

In addition to trading skins and items, players can also earn some passive income in the virtual world of Penguin Karts by staking their tokens. In case of trading seems like a more convenient option, then players can always head on to the NFT marketplace and pocket some profit.

The strategic acquisition comes with a commitment to grow Penguin Karts to its full potential. More details related to the acquisition are awaited.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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