Premiere Horizon Alliance (PHA) announced that it would be going into the “booming play2earn gaming industry” by developing its own app in with the help of Bengga Corp.
PHA curiously missed one big detail about Bengga in its press release: the app developer was founded and managed by PHA president and CEO Augusto Serafica and his family.
PHA merely described Bengga as a “Filipino-developed play2earn company…which currently has a roster of 300 games.”
PHA said it signed a memorandum of understanding with Bengga on September 22 to develop a game app to be dubbed “Phlay.”
PHA and Bengga will conduct due diligence for 30 days to assess each other’s operations and to evaluate opportunities through a commercial proof of concept.
PHA is eyeing to form a joint venture company that will be 70 percent owned by PHA’s new subsidiary, PH Big Bounty Entertainment, Inc., and the balance to be held by Bengga.
PHA said this partnership with Bengga was part of its current digital expansion after investing in tourism estate, property development, mining, and cold storage.