What is the value of blockchain and NFTs to players and game developers? We collaborated with two experts in the field to dive deeper into the topic.
Here’s an op-ed from Struggle C&C, a digital agency that offers design and marketing fit for a new age of the Internet called Web3. Struggle’s launching the LAB, Finland’s first-ever NFT gallery and creative space.
Visit lab.struggle.wtf for the specs on the LAB and further readings on Web3.
Volt Games’ Goncalo Banha shared his wisdom with us about the value blockchain and NFTs deliver to players and game developers. What follows is the rundown.
For players, blockchain brings undisputable and transparent ownership that exists indefinitely. The core benefit: players, rather than game developers, own any assets they purchase or earn while playing. Ownership means license to act. Whether to keep, utilize elsewhere, or trade is up to the player.
Blockchain and NFTs come with perks for developers, too. The essence of the advantages is user retention. With decentralized finance fueled by blockchain technology comes “Play and Earn,” a system for incentivizing engagement. Play = have fun, level up, win a tournament. Earn = get rewarded with a digital currency or a valuable NFT for doing so.
Since the dawn of the trade, the game industry’s “—seen massive growth, driven by the layering of new platforms and business models” (Andreessen Horowitz, State of Crypto 2022), whether responding to innovations in hardware with mobile gaming or mobilizing the social Internet in streaming. Even now, the sector’s the foremost adopter of Web3 technologies, with Metaverse land sales totaling nearly $2bn by the end of 2021.
We believe the traction’s only going to grow.
For Web3 games, research for marketability and adaptability is equally as important. Geeklab’s unique position in having had the opportunity to work with web3 developers early on, has given us insight into the market. Consequently, the best way to go is relying on research data, which is possible through a/b testing.
This piece was written in collaboration with Kasper Karimaa and Goncalo Banha — NFT, Web3 and mobile gaming wizards.