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The first wave of the GameFi boom seems to be coming to an end, but many blockchain studios are still finding success. million dollar pay raise around the world. Gone are the days, though, when games you play to make money were almost guaranteed success. Investors are currently looking for only the highest quality games and studios.
Funders are happy to support only outstanding projects. Here are some strategic steps that can set you apart as you search for capital and prepare to take off.
To scale Play-to-Ear, we need to attract traditional Web2 gamers. To get their attention, builders need to create games with a great user experience. Good graphics, rich lore, and solid mechanics. So a founding team that can combine Web3 fundamentals with experience creating profitable Web2 games for mobile, desktop and console platforms will set you apart in this market.
One important thing to note, however, is that talent acquisition can be difficult. Demand for skilled developers is so high that cross-border searches may be required. Still, it’s worth the time and money invested in finding the right people.
Building a successful game for the long term means developing a monetization strategy that can weather the market volatility that Web3 is known for. This means combining the best of his Web3 technology with his proven Web2 revenue models such as free-to-play. This approach provides greater stability regardless of market conditions.
It’s important to think strategically about how you talk about Web3 technologies in relation to games. After all, investors are wary of builders trying to capitalize on trends, and Web3 is very hot right now.
So rather than how your game uses Web3 technology, focus on why it’s suitable for success. Who plays it and how does it make money?
VCs want to see proof that you’ve considered the worst-case scenario. So plan ahead as much as possible, considering rough patches.
What resources will you need if the market goes against you? What if you can’t find the right talent? What if your launch fails? Too much money? is never a problem, but too little is devastating.
In a bear market, investors are much more likely to want shares in your company than tokens. token warrantAn exception to this rule may be a style of raise where investors have the right to claim a percentage of the tokens issued at launch.
However, you should be prepared to offer a wager at the studio.
Quality is key in the new age of blockchain gaming, and it will only grow in importance. So plan to spend time finding people who can build great games underpinned by a strong and clear monetization strategy. With these principles in place, fundraising and player acquisition will be much easier.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Corey Wilton is the co-founder and CEO of Mirai Labs, the international game studio behind Pegaxy. A renowned speaker and leader in P2E sorting, he founded the first company in the cryptocurrency industry in 2018. This is a customer support company designed to help ICO companies with customer service.
