Home Web graphics 5 Tips for Getting Started in a Crowded Web3 Gaming Market – TechCrunch

5 Tips for Getting Started in a Crowded Web3 Gaming Market – TechCrunch

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The first wave of the play-to-earn (P2E) gaming boom seems to be coming to an end. There are still many blockchain studios that successfully stage multimillion-dollar raises around the world, but the competition for funds has tightened to the point that only notable projects are gaining backers.

With great strategy more important than ever, here are some proven steps you can take that will help you stand out as you seek capital and prepare for liftoff.

Leverage experience in the sphere of traditional game studios

The blockchain gaming market is full of builders who are experienced in crypto but have not built traditional games.

I am a great example. Pegaxy was the first game I worked on and the first I launched. Like many other web3 games of its time, its mechanics and graphics were quite basic to begin with. But while the simplicity suited the Web3 gamer crowd, it has become increasingly clear that P2E will need to appeal to traditional Web 2.0 gamers if it is to scale, and those gamers are demanding much more. To appeal to this demographic, builders will need games that have it all: great graphics, solid mechanics, and a rich story.

You can have the best team and the best game, but without a solid monetization strategy, that doesn’t mean much.

That’s why a founding team that combines an understanding of Web3 fundamentals with experience building and monetizing Web 2.0 games for mobile, desktop, and console platforms will set you apart in this market.

This is also why, after the launch of Pegaxy, we founded Mirai Labs. We wanted to bring together a team of experts to create games that appeal to the mainstream gaming community.

Develop a clear and simple monetization strategy

Most traditional P2E games have fairly simple revenue models that rely on users buying and holding the token that serves as their in-game currency.

This means that when large groups join and play a game at the same time, token prices and revenue increase in tandem. But when market conditions change – or when gamers simply lose interest in a game – there can be a mass exodus of users. This is bad for revenue and can be catastrophic for token prices. Therefore, building a successful long-term game means developing monetization strategies that can withstand the ebbs and flows of the market, ones that combine the best of Web3 technology with proven Web 2.0 revenue models.