Posted March 20, 2024 by BiZKiT
This week, we’re zeroing in on two critical elements for any Web3 game: monetization strategies and engaging user experiences. As we develop our upcoming Chest NFT system for Cosmicrafts, we’ll share valuable insights that can be applied to other Web3 gaming projects, specially if building on the Internet Computer.
Without further ado, let’s get on with it.
The gaming industry is at a crossroads, marked by the coexistence of traditional Web2 games and the emerging Web3 gaming platforms. Each carries its own lifecycle, with unique stages, advantages, and challenges.
This WDU delves into these differences, offering insights into how they shape the future of gaming.
Web3 opens up a world of possibilities, but also introduces new considerations for creating a sustainable and player-centric economy.
The classic MMO model, providing access for a recurring fee (monthly, annually, etc.).
The upfront cost of a full game.
The most dominant model in modern gaming.
Common in both F2P and premium games, players buy into a timed cycle of rewards and progression.
Combining aspects of the above. Destiny 2 is an excellent example.
Key Takeaway: There is no single ‘best’ monetization model. The most successful games find the right fit between their core gameplay, target audience, and the long-term sustainability of their in-game economy.
Many Web3 titles experience meteoric rises due to novel concepts, token speculation, and the potential for earning. This can attract a diverse audience quickly, but maintaining that interest is a high-stakes game.
This initial surge often proves unsustainable.
Balancing in-game economies with real-world tradable tokens is immensely difficult.
Inflation, devaluation, and market volatility can seriously undermine a game’s long-term health.
The play-to-earn model draws in those looking for profit, creating a surge of interest. However, this focus can detract from core gameplay quality.
This can lead to player churn when token values drop or earning potential decreases.
The Web3 space is still young; therefore, the models, technology, and best practices are in constant flux.
Games need to adapt quickly to survive, whereas Web2 titles have a bit more breathing room.
Begin with a strong launch and focus on continuous content updates and gameplay enhancements to retain players.
The advantage? A proven audience and monetization models.
The catch? The competition is fierce, and attracting players comes at a cost.
Whether it’s through subscriptions, microtransactions, or paid expansions, Web2 games enjoy predictable revenue streams, shielded from the volatile markets.
The challenge: Balancing monetization with player satisfaction, avoiding the dreaded pay-to-win stigma.
This strategy allows Web2 games to maintain dedicated player bases over years. However, developers must navigate the risks of content fatigue and technology becoming obsolete.
Market shifts and newer releases eventually erode the player base. While the decline is gradual, allowing for managed transitions, developers are left with legacy costs and the task of keeping a minimal level of engagement.
Even successful projects have rises and falls in popularity.
Staying power is the holy grail for any game
Let’s analyze the most critical factors in building a Web3 game with longevity, drawing from the previous examples and what we know about the strengths and weaknesses of the Web3 space.
Steady Success: The Formula
No amount of tokens or NFTs can salvage a boring, unpolished core gameplay experience.
This is where countless Web3 games stumble. Tokens need genuine use-cases and a well-managed supply/demand balance.
NFTs and player ownership are powerful appeals. But, they need to be balanced for long-term health.
Web3 is all about decentralization and player participation, not just profit. Players who feel invested are less likely to churn.
Hype gets you early players, but longevity is about adaptation and consistent quality.
No formula guarantees success, especially in a rapidly changing space like Web3.
These factors increase the odds but ultimately building a game that lasts requires dedication, flexibility, and a bit of luck.
Here’s what players truly value:
It’s not just about money.
Focus on skins, unique visual effects, and items that don’t directly affect gameplay power.
Allows for self-expression and revenue without ruining balance.
Fun gameplay should be the primary motivator, with earning as an additional layer, not the sole focus.
Inflation or sudden shifts in value destroy perceived fairness.
Sustainability is more about weathering the storms and having the fundamentals in place for longevity.
Understanding the strengths and pitfalls of Web2 and Web3 alike gives us the insight to build an economy and gameplay experience designed to last.
This, combined with the lessons learned from the gaming giants, gives Cosmicrafts a powerful foundation.
So yeah, finding the ‘perfect formula’ for Web3 gaming is like searching for the Holy Grail…there might be a few false starts and some knights who say ‘Ni!’. But hey, the adventure is half the fun.
Speaking of quests, time to get back to forging those Chest NFTs!”
Upcoming — Chest NFTs: Forget the boring loot boxes of old! Our Chest NFTs are going to turn Cosmicrafts’ economy on its head.
Get ready for the legendary loot!
Stay in Power, Stay Cosmic