Web3 Games: Navigating The P2E Craze and Challenges

Web3 Games: Navigating The P2E Craze and Challenges

Web3 games are still emerging. In the booming play-to-earn gaming arena, not all Web3 games and projects are created equal. Let’s delve into the complexities of Web3 gaming, exploring the issues that have hindered growth and how pioneering projects like FootballCoin have managed to innovate and thrive. 

The world of play-to-earn games is more than just a way to pass the time. Players are looking for an interesting digital environment, and a huge added bonus is the ability to earn tokens or some sort of real-world benefit while getting involved in this Web3 world. 

The play-to-earn games craze started in 2021. During that time, Web3 was going through big changes. 

One of the highlights was a game called Axie Infinity, which allowed players in developing countries like Ghana and the Philippines to make a lot more than the minimum wage. 

However, a serious issue with a token bridge and a drop in market interest caused the earnings from these games to decrease significantly.

Web3 Games: Navigating The P2E Craze and Challenges

Why most P2E games aren’t scaling?

When you take a broader look, only a few projects in the play-to-earn game world have managed to grow steadily. 

This seems to be because of some basic problems with the way play-to-earn works. 

To start playing, people might need to spend hundreds of dollars to buy the NFTs necessary to participate. 

Even those who are willing to pay that much might be let down by the games themselves, which can have poor graphics and no real storyline.

But the issues don’t stop there. 

Many Web3 games that make money through selling NFTs are still in the early stages of being made. 

If the game’s developers don’t add new features quickly enough, players can become frustrated. 

There can also be a need to keep coming up with new collectable items all the time to make sure there’s always money coming in.

The biggest problem, as seen with the game Axie Infinity, is related to the rewards given to players. 

According to a research report by CoinGecko, For every Axie Infinity player, there are  2,155 Roblox players. While there may be many issues with the game itself, this is a clear indication that the world of Web3 games is still considered an emerging technology.

Giving away lots of tokens to attract new players might sound like a good idea, but it can actually be very harmful to the value of that digital currency. 

Since the prices of digital assets change a lot and are affected by supply and demand, increasing the total number of tokens available can reduce their value.

This can lead to some pretty nasty results. Gamers who get tokens as rewards might not keep them unless there’s a really good reason to, which can put more pressure on selling and lower prices even more. 

This can start a harmful cycle where the value of the digital asset keeps dropping. If the value falls by a large percentage, everyday players might stop playing, and when the community gets smaller, the entire project can fail.

Let’s look at what makes a game a Web3 experience

First of all, all Web3 are blockchain-based.

It’s not only the economy part of the project that is based on blockchain because everyone can do that. 

You can recognise a Web3 project by asking yourself these questions:

  • Is blockchain technology used in this project?
  • Are there automated actions that happen when certain conditions are met?
  • Is it decentralised? 
  • Can I buy or sell my digital assets?
  • Do I have the private keys of my wallet? 

If the answer is “Yes” to all of these, then you are indeed looking at a Web3 project, and in this particular case, a Web3 game. 

How to choose a good Web3 game

The first step towards a better change or choosing to spend your time and invest in a reliable Web3 game is recognising the main risks in the Web3 world today. 

The success or failure of play-to-earn projects right now depends on either attracting new users or being able to keep giving rewards to current ones. Neither of these approaches is likely to work for a long time.

There’s often a lot of excitement at first, but without interesting stories or engaging gameplay to keep players interested, that excitement fades quickly. 

A high-quality gaming experience might make players less concerned about earning and more focused on playing. 

However, when neither earnings nor engaging play are present, players tend to lose interest and leave. 

Projects are constantly trying to find a balance between drawing in new players and keeping the current ones satisfied, and it’s a struggle. 

The Web3 game of the future

Even though there are big challenges facing this still-young field, Web3 gaming has the chance to be more than just a passing trend that’s not sustainable. And this has already been proven by reputable Web3 games. 

FootballCoin emerged as an innovative concept in the world of gaming when it was launched in 2017. 

Not just a game, it symbolises a vision to integrate the world of football fans with the burgeoning sphere of cryptocurrencies and blockchain technology.

What makes FootballCoin stand out is its holistic approach to creating a world-class gaming experience. 

The developers didn’t merely focus on providing a fun experience; they also enabled players to win real prizes. 

Through this game, participants can engage in football manager-type contests and fantasy sports, appreciating the tangible benefits of blockchain technology.

FootballCoin’s economy is another unique aspect. 

The game has introduced two major types of player cards – free and collectable. In the Web3 world, these collectables are known as NFT trading cards or sports cards. 

These trading cards, ranked based on the player’s real-world value, notoriety, and achievements, bring an additional layer of complexity and engagement to the game.

In a market where partnerships and collaboration often dictate success, FootballCoin’s affiliations with reputable companies like Sportradar, Perform, Omnisport, and BoostIT stand as a testament to its credibility. 

Its cryptocurrency, XFC, has also gained respect, being listed on well-known exchanges such as Coindeal, Livecoin, InstaSwap, and Exrates.

From the perspective of a technology enthusiast, the game represents a project that respects core Bitcoin philosophies. 

For gamers, it’s a gateway to a top-level gaming network where they can win real cryptocurrency rewards.

In a landscape filled with fleeting trends and unsustainable models, FootballCoin shines as a durable Web3 project that has withstood the test of time. 

It continues to innovate and grow, carving a niche that bridges the gap between the crypto sphere and the passionate world of football fans. 

Its continuous delivery on promises, alignment with both gaming and tech values, and innovative integration of blockchain technology make FootballCoin an exemplary model in the industry.

P2E Grows: Number of Blockchain Game Users Explode 

P2E Grows: Number of Blockchain Game Users Explode 

September 2022 brought a lot of interest and new active users to the blockchain games industry. New blockchain games, such as FootballCoin, appear on gamers’ radars. 

Many blockchain games registered an increase in user activity in September, as many play-to-earn (P2E) games reported significant increases in their active users.

According to DappRadar data, half of the top ten games have increased in the past 30 days in terms of unique wallet addresses interfacing with DApps smart contracts. All five top games were in the green in that period.

P2E Grows: Number of Blockchain Game Users Explode

The Web3 gaming platform Gameta and the blockchain-based games Alien Worlds and Solitaire Blitz, Benji Bananas, Splinterlands, and Benji Bananas are the top DApps that have seen growth during September.

Many of these blockchain games are mainly used on mobile devices, and they have a huge potential to bring in new users and familiarize them with the blockchain. The main advantage of all these P2E games is that they allow anyone to earn crypto without any prior investment or knowledge.

According to DappRadar’s report, these games have brought “1.7 million users from Web2 into Web3 gaming”. They believe that users are now convinced that it pays off to invest in crypto during bear markets as it will pay off during the next bull market. 

The largest increase in users was seen by Animoca Brands’ Benji Bananas (Polygon), which saw a 151% rise over the last 30 days in terms of users. This game was not available on mobile until March 2018. Animoca introduced play-to-earn (P2E) elements via the Bored Ape Yacht Club affiliate ApeCoin (APE).

Although it’s not clear what caused the increase in Benji Bananas users, hosting a gaming event that featured a number of valuable NFTs for the winners did undoubtedly help.

However, it’s worth noting that some games did experienced decreases over the last 30 days.

NFT games are not dead! 

This blockchain game surge comes as a revigorating response to the news that the NFT market registered a 97% drop in trading volumes since January 2022. (source Bloomberg). While some complain that the NFT trend is dead, this new wave of blockchain gamers proves that there is still a lot of interest. 

More blockchain games are becoming just as easy to use and enjoy as ordinary games. Some may have been off gamers’ radars but are starting to pick up. Blockchain games such as FootballCoin use daily activities as a hook, ensuring that users find enjoyment once they interact with it, while solid tokenomics encourages everyday use and retention.

It’s true that NFT prices have declined, but many games, which don’t usually make the news, require relatively inexpensive NFTs, and this still attracts new users. 

Eduard Banulescu, the brand manager of FootballCoin, a pure P2E blockchain game, pointed out that the fantasy football game has seen a surprising increase in daily active users. 

FootballCoin’s representative emphasized the importance of user activity and the number of people who start using Web3, including blockchain games: “We are proud that FootballCoin was one of the very first play-to-earn games. We’re also happy to see a great increase in interest in these types of blockchain games. The platform has been updated consistently over the past five years. We’ve also seen continuous, albeit sometimes slow, growth in terms of our user base. In recent months, however, the number of new FootballCoin users has spiked. “

Just like the top blockchain games mentioned by DappRadar, FootballCoin has also seen a remarkable increase in the number of users and demand for its NFTs. According to Banulescu, FootballCoin registered a 35% increase in new accounts during September 2022. 

“Over the past month, we’ve seen a 35% increase in the number of new accounts. Fortunately, many of these accounts have also been active in the game. The prospect of earning crypto rewards and of owning the assets that they purchase in the game seem to have been particular highlights for new users. With the World Cup fast approaching, we are planning to introduce additional rewards and features.”

FootballCoin has many years of experience in this industry. t’s probably one of the few truly independent crypto projects that still exist. Considering the fast evolution of Web3, this might be one of the blockchain games that will evolve during this era of global crypto adoption.

P2E grows and games feature real world events  

FootballCoin is a fantasy football game that attracts thousands of new users each month. As the 2023 World Cup is fast approaching, the blockchain game promises to feature the popular competition.

FootballCoin already features the world’s best football leagues, including Premier League, Serie A, and the Champions League. Furthermore, the Brazilian top-tier Série A, highly requested by users of the game, will be added in October 2022. Users will have the opportunity to test their skills as football managers and choose their football team before each stage of the competition. 

While the FootballCoin team hasn’t yet disclosed the total prize pool for the World Cup, users will get to play for free, at least for the first stages, where all teams are still involved in the competition. 

The Metaverse Will Have NFTs With Utility in 2022

The Metaverse Will Have NFTs With Utility in 2022

Non-fungible tokens (NFTs) have reached a higher level of popularity and acceptance by both the online and crypto communities. NFTs with utility are here and are no longer considered a bubble, as more projects join the space and give new utility to the created NFTs. 

The rise of metaverse NFTs in 2021

Non-fungible tokens (NFTs) caught the public’s attention when the record-breaking Beeple’s The First 5000 days was sold by the Christie’s arthouse for $69 million, on March 11, 2021. This became the cornerstone of NFT art and spiked a new trend for digital artists and traditional artists as well. 

Since then, NFTs have expanded to include music, art, in-game assets, and even tweets. Basically, anyone can tokenize any real-world or digital asset and use NFT minting to provide unique ownership. FootballCoin is one example of one of the first free-to-play blockchain games to offer in-game NFTs, that are available for trading. 

According to DappRadar’s report, the NFT market generated over $23 billion in 2021. 

The most significant move for NFTs and the entire metaverse space was when Facebook announced its rebrand as Meta, on October 28, 2021. The social media network aims to become more than a social media channel, and will not focus on creating a new metaverse, which will integrate social media, virtual working spaces, gaming experiences and more. The news created huge waves within the crypto space, and most metaverse-related cryptos surged in price. Some of the most hyped coins were Decentraland (MANA) and Sandbox (SAND).

However, the NFT craze started way before that. Most of you might remember CryptoKitties, the Ethereum-based game, launched in 2017. The game caused network clogging and a huge network gas fee increase, as the demand for digital kitties increased. Most of the kitties collectors were attracted to the game by the potential of breeding and selling their NFT. The hype slowed down over the next months, but the idea of speculating over the price of digital assets remained in the crypto community. 

Today, investors can find new and trending NFT collections on platforms such as OpenSea and Rarible. Some of the most popular NFT collections are CryptoPunks and Bored Apes Yacht Club (BAYC). 

GameFi is the game-changer

GameFi protocols were the key moment of watershed for NFTs who followed the metaverse hype. What is GameFi? GameFi can be described as the integration of gaming and decentralized finance (DeFi) within one ecosystem. According to Huobi Research, GameFi has revived interest in blockchain gaming.

Axie Infinity is the leading protocol in this area in 2021. This game universe allows gamers to collect Axies and create kingdoms for their pets. AXS, and SLP are the native tokens that power the game ecosystem.

Sky Mavis, a Vietnamese game developer, developed the Ethereum-based game. It was first released in March 2018. The Axie-Infinity collection quickly rose to become the most traded NFT in NFT history due to the excitement created by the community around it. The collection has more than $4 billion in annual sales. Axie Infinity’s current trading volume has outperformed other blockchain games by miles.

This game is based upon Ethereum but blockchain-based games are becoming more popular across other blockchain networks such as Solana or the Binance Smart chain. Many games have enjoyed popularity on blockchain networks, including Splinterlands on Hive and Wax and Alien Worlds on Wax and Upland on EOS.

Refusal to adhere to traditional gaming regulations

GameFi is disrupting gaming by introducing blockchain technology. However, traditional gaming has not been well-received this innovation. Steam/Valve removed all blockchain-based games in 2021. Over 26 companies and advocacy organizations have called upon Steam/Valve to reverse its ban.

The South Korean government also blocked the release of new play-to earn (P2E) games and requested that existing blockchain games with a model P2E be removed be from the Apple Store and Google Play Store. Epic Games, creator of Fortnite, stated that they are open to blockchain-based games that support crypto and blockchain-based assets.

But the GameFi trend continues to grow despite the opposition from regulators and the traditional gaming industry. ProShares, the company that launched the first Bitcoin-based ETF, has plans to launch an ETF focused on Metaverse. The ProShares Metaverse Theme ETF was filed with the United States Securities and Exchange Commission. If the registration is accepted by the SEC, it will track the performance of the Solactive Metaverse Theme Index, which includes companies involved in the adoption and usage of metaverse-related technologies.

Even one of the big four consulting companies, PricewaterhouseCoopers (PWC) Hong Kong, have dipped their toes into the Metaverse. A land plot was purchased by the company to play in a metaverse Sandbox. After a deal with Velas Network, a Swiss blockchain startup, Ferrari even hinted at NFTs.

These enterprises can use blockchain technology to build business models within the Metaverse, and gain efficiency and compatibility with the real world. It is very likely that 2021 will be regarded as the year for NFTs and DeFi, and 2022 will be the Year of GameFi and Metaverse.