Earlyworks Co., Ltd. (Nasdaq: ELWS) (the “Company” or “Earlyworks”), a Japanese company operating its proprietary private blockchain technology, Grid Ledger System (“GLS”), today announced that it entered into a Memorandum of Understanding (“MOU”) with Social Finance Limited (“Social Finance”), an operator of the Web3 platform GuildQB, which is one of the largest blockchain gaming guilds in Japan, to jointly develop blockchain games. This represents a key initiative of the Company to leverage GLS in the gaming industry.
Pursuant to the MOU, the Company and Social Finance agreed to work together to plan, develop and operate blockchain games using blockchain technology. Earlyworks agreed to provide GLS, offer design or design support for blockchain games, and conduct technical verification, system development and operation. Social Finance is responsible for blockchain game planning, marketing and sales of content in blockchain games, and formation and operation of communities in blockchain games. The allocation of revenue will be determined upon negotiation between the Company and Social Finance for each product. Source: Yahoo Finance
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