first wave The boom of play-for-profit (P2E) games appears to be coming to an end. There are still a lot of blockchain studios taking off successfully Millions of dollars more All over the world, but the competition for money is so intense that only top-notch projects win backers.
With a great strategy becoming more important than ever, here are some tried and true steps you can take that will help you set yourself apart when you’re looking for capital and getting ready to take off.
Leverage the expertise of a traditional game studio
The blockchain gaming market is full of builders who are experienced in crypto but have not built traditional games.
I am a prime example. Pegaxy was the first game I worked on and the first I released. Like many other web3 games of the time, its mechanics and graphics were fairly basic at first. But while simplicity has done well with the Web 3 gaming audience, it’s becoming increasingly clear that P2E will need to appeal to traditional Web 2.0 players if it is to scale, and these players are asking for much more than that. To satisfy this demographic, designers will need games that have it all: great graphics, powerful mechanics, and rich lore.
You can have the best team and the best game, but without a solid monetization strategy, it means little.
This is why the founding team that combines an understanding of Web 3 fundamentals with experience building and monetizing Web 2.0 games for mobile, desktop and console platforms will set you apart in this market.
It is also why, after the launch of Pegaxy, we founded Mirai Labs. We wanted to assemble a team of experts to build games that appeal to the traditional gaming community.
Develop a straightforward monetization strategy
Most traditional P2E games have fairly simple earnings models based on users buying and holding a token that acts as in-game currency.
This means that when large groups join and play a game simultaneously, the price of the tokens and the revenue go up in tandem. But when market conditions change – or when players lose interest in a game – there can be a mass exodus of users. This is bad for revenue and could be disastrous for token prices. Therefore, building a long-term successful game means developing monetization strategies that can weather the market tides, those that combine the best of web3 technologies with proven Web 2.0 revenue models.
