Premiere Horizon Alliance Corp. (PHA) on Friday said it was planning to partner with Bengga Corp. to develop a “play2earn” platform.
In a disclosure to the stock exchange, PHA said it recently signed a memorandum of understanding with Bengga, a Filipino-developed play2earn company, for a partnership in developing a gaming platform in the play2earn gaming category dubbed “PHlay”.
“PHA will be undertaking this project with Bengga through its subsidiary, PH Big Bounty Entertainment, Inc. (PHBB), subject to final negotiation of the terms and condition of the agreement and approval of the PHA Board of Directors,” the listed company said.
The two companies want to form a joint venture company that will be majority-owned by PHBB at 70% and 30% to be owned by Bengga.
PHA described the project as a “hypercasual” gaming platform that will earn users rewards.
“It is a means to reach an audience and influence their behavior while monetizing engagements,” it noted.
“The business model will be a relevant and timely focus in the high-growth and profitable play2earn sector. This is in line with PHA’s direction of exploring opportunities in the technology sector to complement the offerings and services of SquidPay Technology, Inc.,” the company added. — Arjay L. Balinbin