Although many games built on the blockchain have fascinating gameplay, the token used in-game can make or break it.
You’ve seen it before. An amazingly talented gaming founder teams up with a top-tier studio, promising to create a wondrous game experience built on the industry’s most powerful engines. But then, it happens: It’s paired with a dubious shitcoin that launches well before even a morsel of game content drops.
We’re ready for a change of mindset. The critical question is this: how can we make the hyper-capitalized, hyper-hyped Web3 Metaverse project work — for gamers, for founders, and for investors?Everyone does well in a monkey run, financially speaking. From major smart contract platforms to experimental DeFi protocols to the next Axie Infinity copycat, the monkey market beautifully substantiates the notion that there actually are no shitcoins — only shit prices.
This might read like an exaggeration, and I wish it were. However, these are the most troubling realities facing the current landscape of token launches in the middle of a bull — excuse me, a monkey market. They capture short-term enthusiasm without a sustainable plan for future-building. These pitches capture a moment — but not the right perspective and business model required for the future of gaming.
You do not immediately need your own project token to monetize your application. Tokens are simply forms of exchange for the assets that your virtual world generates and sells. If your Web3 game can’t operate on an already liquid, volatile token or, worse, a well-pegged stable, then your game is in trouble. Try again!
Ultimately, you must design your token to incentivize users to stay in your world. For instance, just like with foreign currencies, you could offer a discount to consumption when paid for in your own project token — but you price your digital goods in USD. You could also utilize the layered-risk treasury strategy, whereby you accept USD , the L1 or L2 of your choice, and your project token. This ensures that you have a large, existing audience immediately equipped to engage with your world.
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