Sherman Oaks, California, 26th April, 2022, Chainwire
Aleksandr Agapitov, the founder of a prominent video game payments company Xsolla, starts a new venture in the web3 space Called X.LA. The project launched in late February and is focused on developing an ecosystem of products with an aim to give creators around the world a monetary incentive to build in the metaverse.
Xsolla was born in 2005 and moved to Los Angeles in 2009. There, it quietly emerged as a go-to service for numerous prominent game developers and publishers to manage their digital deliveries to gamers. Significantly, where the most dominant digital stores—such as those that Fortnite-maker Epic Games sued—were taking a large commission cut for their services, Xsolla’s 5% fee, backed by the comprehensive suite of product management services, enticed clients like Valve and Roblox.
With Xsolla humming along, with an estimated market valuation—should the privately held company go public—of around $3 billion, Agapitov is turning his entrepreneurial enthusiasm to Web3 with the launch of X.LA.
Embracing blockchain technology and visualizing a tangible purpose for users to want to occupy the metaverse, a core underpinning of Agapitov’s motivation is to enable creators to collaborate on various projects in a system powered by technology that fairly compensates all those involved.
In a recent Bloomberg article Agapitov has com mented on several occasions that the Xsolla business model represented his motivation to “help game developers make more money,” adding that “wonderful innovations come from video games.” In this same vein, he wants to build a system in the X.LA metaverse that encourages and promotes creatives to operate and showcase their talents, and, vitally, be rewarded fairly for their efforts.
The X.LA Foundation leverages blockchain and Web3 technologies to make smart revenue-sharing contracts available to creators around the world. By democratizing rights ownership and management, X.LA eliminates the need for costly legal services and levels the playing field between creators and distributors. For more information, visit https://x.la.
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