You can refer to the article about the gamefi lifecycle before reading the analysis below.
OBSTACLES IN THE DEVELOPMENT OF GAMEFI
Promoting sustainable growth is crucial for blockchain games to have a longer lifecycle. There are many projects that really develop explosively in the early stages, but can not sustain and maintain the development and plunge into the later stages.
It can be said that this is a common obstacle that GameFi projects often encounter. It is part of the challenge that must be overcome in order to survive in a fiercely competitive environment. Here are a few typical obstacles that can lead to the demise of GameFi projects.
Focusing Too Much On Income And Ignoring Player Experience
When a GameFi project is too focused on making money and putting the player’s experience on the sidelines, failure is inevitable. It can be seen very clearly in the GameFi with simple graphic design and no good story layout, boring features, gameplay and no long-term strategy to retain players.
The excessive focus on earnings will make the game rely on new streams of players to stay in business. Lack of excitement will reduce public interest in the game and make it difficult to retain players who have been supporting the project.
Token Allocation Lacks Fairness
Token Allocation is a very important part of building a vibrant gaming community. However, there are projects of some poorly structured blockchain games that greedily keep most of the tokens to themselves.
Most of the tokens will be distributed to the project team and private sale instead of the reward pool of the players, leaving the players with fewer rewards to receive through the game. The situation is not rectified and will gradually cause players to succumb to economic pressure and will leave the game.
Building And Taking Care Of The Community
Community plays an extremely important role in the GameFi marketplace platform. Developers can rely on the project’s own community feedback, about the game’s shortcomings, to enhance the experience and meet player expectations by collecting.
There are many developers who often ignore player questions and concerns when they have problems. This will make the players feel disrespected, or the project development team lacks enthusiasm, affecting the reputation and leading to the loss of players who are supporting the game.
WHAT DOES IT TAKE TO BUILD A SUSTAINABLE GAMEFI PROJECT?
Promoting sustainable growth for the project is the key to prolonging the life of the blockchain game, which is very important to compete with the fierceness in the market.
Here are a few experiences and concepts about achieving sustainable growth of MOBOX, StarSharks and Bomb Crypto – GameFi projects that are currently experiencing very solid growth in the market.
MOBOX is one of the GameFi projects that is currently attracting a lot of attention from the BNB Chain community in particular and crypto in general. Currently, MOBOX is taking the lead among the projects of the GameFi platform on the BNB Chain.
According to the statistics of BNB Chain, MOBOX has achieved 169 thousand active player accounts in just 1 week, from February 25, 2022 – March 3, 2022.
According to the MOBOX project development team, the community is an indispensable point in the development of the project’s direction:
- Customer Service (CS – Customer Care) is one of the keys to success.
- The project team must be available to answer player questions.
- The project must be highly transparent, ensuring the direction of the project to the players.
- Regularly update and fix game bugs.
- Create events and rewards for players.
Starsharks is one of the most prominent blockchain game projects on the BNB Chain with significant growth since its early days. From February 24, 2022, to March 3, 2022, StarSharks WAU increased 52% to 106k and its weekly trading increased 63% to 937k.
The StarSharks project development team shared how to build a sustainable economic model as follows:
- Focus on enhancing the experience of players and the community.
- Build the economic model more carefully.
- The dual token model will give more flexibility in the design of the ecosystem.
- Governance token has a limited supply and is for investors in the project, Utility token is used for game and experience-related activities.
- Increasing the utility of the token is also a good strategy to drive growth for the project.
Perhaps Bomb Crypto is a name that is not too strange for fans of the GameFi platform. The project has excellently won the “Best Blockchain Game Awards” of 2021. According to recent statistics, Bomb Crypto recorded 1.1 million transactions and 210,000 WAU from 11 to 17 February 2022.
According to the Bomb Crypto project development team, the real obstacle will appear when the game’s profit model has reached saturation. This is the time when the project has to change its strategy to maintain economic stability. Prepare for the addition and transformation of other values into the game.
Add steady value to the game and increase brand awareness:
- The first priority is to perfect the features and enable the full functionality of the game.
- Developing the game’s ecosystem and launching new GameFi products.
- Organize AMA sessions between Product, Developer, and Marketing teams to answer questions from the community and introduce, update, and explain features of new games and raise brand awareness.
Through the analysis and sharing of the three projects above, we can see that, even with hundreds of existing games, GameFi is still an emerging field. Thanks to the developers’ unremitting efforts, excellent blockchain games continue to launch, allowing players to enjoy a good gaming experience.
Above are the experience sharing on how to build a sustainable GameFi project from the 3 most prominent representatives of the GameFi platform on BNB Chain and some analysis of the GameFi life cycle invested by BNB Chain.
Creating a new game is never easy. Faced with great competition, games must evolve from stages in their life cycle to achieve sustained growth and become successful.
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