What is Portal? Information about PORTAL Token?

What is the Portal project? Is the PORTAL token promising for investment? Let's find out together with AZC.News in the article below!

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What is Portal?

Portal is a Web3 gaming platform similar to Valve Corporation’s Steam, developed to facilitate gamers’ interaction with blockchain gaming more conveniently. The goal of Portal is to assist new players in entering the blockchain gaming market more easily by eliminating the complexities of interacting with various Web3 applications and games.

Portal not only offers a library of over 200 games but also provides favorable conditions for exploration and personalized recommendations. By fostering a vibrant community, Portal encourages connections among players, developers, and content creators to build a robust Web3 gaming ecosystem.

Interface portal

In summary, Portal aims to provide a smooth, secure, community-driven gaming experience and usher in a new era of Play-to-Earn opportunities.

Additionally, Portal is the 47th project listed on Binance Launchpool. Users can stake BNB and FDUSD to earn PORTAL tokens from February 22, 2024, to February 28, 2024.

Key Products of Portal

Portal Platform

As of February 2024, there are over 200 games on the Portal platform. This serves as a centralized access point for users to engage with all games on Portal. Coupled with Portal’s Passport feature, users can log in once and manage their personal information and assets across different games and blockchains.

200 Game

Currently, Portal has integrated with Avalanche, Solana, Base, and Polygon, with plans to expand to more blockchain platforms in the future.

Portal Wallet

The Portal Wallet is designed with a simple registration service, eliminating the complexity of managing seed phrases and private keys while ensuring user safety. Additionally, the Portal Wallet is compatible with web2 social media platforms such as Discord or Google, allowing users to synchronize their personal data.

Companion App

The Companion App is a supportive application for gamers, offering features such as:

  • Discovery: Providing information and content about the latest Web3 games.
  • Cross-chain trading: Buying, selling, and exchanging assets from various blockchains.
  • Social network: Connecting with other users on the platform.
  • Staking-to-access: Allowing users to exchange participation points for Launchpad through this program.

Cross-chain Functionality 

Cross Chain

The PORTAL token is developed on LayerZero, enabling games to utilize a unified exchange system and use PORTAL as the common currency. LayerZero technology facilitates easy interaction with various blockchains, opening up numerous opportunities in the gaming industry and creating significant competition.

Related: What is Ronin Network (RON)?

What is PORTAL Token?

Basic information

  • Token name: Portal
  • Ticker: PORTAL
  • Blockchain: Ethereum
  • Token standard: ERC-20
  • Contract: 0x1bbe973bef3a977fc51cbed703e8ffdefe001fed
  • Token type: Utility & Governance
  • Total supply: 1,000,000,000 PORTAL
  • Circulating supply: Updating…!

Allocation

Allocation

  • Team and Advisors: 23%
  • Treasury: 23%
  • Private sale: 22%
  • Public sale: 11%
  • Community Incentives 1: 10%
  • Binance Launchpool: 5%
  • Community Incentives 2: 4%
  • Liquidity: 2%

Use Case

  • Transaction fees: Used to pay fees for transactions within the ecosystem.
  • Governance: PORTAL token holders can participate in Portal’s development decisions.
  • Staking: Users can stake PORTAL tokens on Portal Launchpad and receive rewards.
  • Special events: PORTAL token holders can participate in special events offered by the platform.

Release Schedule

According to the project, the release schedule for PORTAL tokens from February 2024 to February 2031 is as follows:

Vesting

Roadmap

Portal announces the project development roadmap as follows:

Q1/2024:

  • PORTAL token TGE.
  • Web2 game activation.
  • Foundation.
  • Portal token staking platform.
  • Deployment of Portal’s node network and allowing PORTAL token holders to become validators.
  • Development of Discovery platform, similar to Steam.
  • Development of Launchpad.

Q2/2024:

  • Development of Gaming Wallet.
  • Establishment of Marketplace SDK.
  • Development of cross-chain functionality.
  • Web2 Game Activation.

Q3/2024:

  • Launch of NEXUS cross-chain liquidity gaming exchange.
  • Web2 Game Activation.
  • Expansion to other blockchains.

Q4/2024:

  • Expansion to other blockchains.
  • Web2 Game Activation.

Team

Portal is developed by a team of over 70 members, including positions such as developers, marketing, partnerships, etc. However, as of now, there is no official information available about these members.

However, the project has announced the list of members in the advisory board, including top experts in the industry, such as:

  • Jamie King: Co-founder Rockstar Games
  • John Yiao: CEO Team Secret
  • Russell Hanson: Co-founder & Chief Scientific Officer Endjinn AI (Consensys)
  • Matt Dixon: Former Director of Business Development and New Markets at EA Games

Investors and Partners

Portal has attracted $29 million USD from two rounds of token sales, including Pre-sale and Private sale, which accounts for approximately ~32% of the total token supply. 

Raise

Portal’s partners include reputable names with a plethora of well-known Web3 projects and games such as Star Atlas, Magic Eden, among others. Additionally, Portal has established a strategic partnership with WWE Agency, a leading global entertainment company, known for numerous entertainment, sports, and celebrity programs.

Most recently, Portal has become the 47th project to join Binance Launchpool.

Similar projects to Portal include

  • Xai: Xai is a layer 3 blockchain built on Arbitrum, aiming to develop a blockchain specifically for the gaming industry. Xai aims to provide a smooth and user-friendly gaming experience on the blockchain.
  • Ronin: Ronin is a blockchain researched and developed by Sky Mavis.

Project information

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