3 Ways to Level up Your Web3 Game

If you are a developer wondering how to level up your Web3 game, look no more as we have got you covered. In this article, we will be sharing 3 ways to level up your Web3 game but first, let’s take stock of the GameFi market.

What’s up with the GameFi Market?

If we “follow the money,” the only way for the GameFi market is up as investments in Web3 gaming projects from January to August 2024 amounted to $1.5+ billion with April being the billion dollar month, recording almost $1 billion ($988 million) in investments.¹

When it comes to pitching to investors, GameFi’s market metrics are speaking for themselves as the market has the highest unique active wallets (UAW) across all Web3 categories.²

Not only does GameFi have the most UAW, it also has the highest number of transactions.³

However, the high failure rate of Web3 games which stood at 70.7% in 2023 is a cause for concern.⁴ Failed Web3 games can learn a thing or two from Crypto Kitties which used to be one of the most popular GameFi projects but has since fallen into decline due to several factors. 

Poor Tokenomics: CryptoKitties’ tokenomics failed to provide incentives for players to buy and hold CK tokens resulting in poor user retention as players cash out on the tokens for quick profits instead of using them for gameplay or HODLing them for future purposes. 

Accessibility Issues: An Ethereum wallet is required to play CryptoKitties but the lack of sign-up options using social logins was a main barrier to entry.

Game Mechanics: Game experience was poor as CryptoKitties’ NFTs can only be used for breeding digital cats which was not sufficient to sustain interest in gamers.

Lessons learnt, time to level up!

How to Level up Your Web3 Game?

Leveling up your Web3 game is as easy as 1,2,3.

Improve User Conversions by Offering a Truly Frictionless Experience

If you have an existing mobile or web game, consider equipping your game with social logins to maximize user conversions by allowing non-crypto natives to enjoy gameplay without the concepts of blockchain. Social logins could go a long way towards improving your user conversion rates as the Blockchain Gaming Alliance Report 2024 (BGA Report 2024) reported that the complexity of crypto wallet is the biggest barrier to entry to Web3 games.⁵

Web3Auth simplifies crypto wallets by enabling users to create a wallet instantly by signing up with familiar social logins, such as Google, X (Twitter), or Facebook, rather than requiring complex seed phrases or private keys. Some notable Web3 games that have improved their user conversion rates using our social logins are Anichess, Chess.com, Heroes of Mavia and Legend of Arcadia.

Let’s take a deeper look at Heroes of Mavia

After integrating with Web3Auth, Heroes of Mavia experienced a significant uptick in user sign-ups and login rates, resulting in over 1 million global downloads just within the first week of launch. Since the integration, Heroes of Mavia has welcomed over 900k new Web3 users into its community - a testament to the effectiveness of our social logins in reaching a broader audience and expanding the game’s player base.

Consider Launching a Telegram Mini App to get a Broader Reach of Gamers and Casual Gamers

Launching your Web3 game as a Telegram Mini App (TMA) removes the barriers of laggard downloads, installations or switching between apps. Additionally, integrating your Web3 game with Telegram through TMA could broaden your reach to gamers, especially casual gamers who prefer to play games on social platforms, and who according to the BGA Report 2024 comprises the majority of Web3 gamers.

Hamster Kombat Tap-to-Earn (T2E) gameplay capitalizes on players’ social networks to drive organic growth, as they are prompted to engage in real-time with friends, join group challenges, and participate in community events without leaving Telegram’s chat interface.⁶ Hamster Kombat’s TMA-powered social connectivity resulted in the game’s user base reaching 100+ million in July 2024, just four months after the game’s launch in March 2024.⁷

Enhance the Utility and Interoperability of Your In-Game Assets

Enhancing the utility of its NFTs by equipping them with cross-game utility through multi-game interoperability could increase your transaction volume per capita as the BGA Report 2024 reported that NFT is the main reason for financial transactions on Free-to-Play (F2P) Web3 games.

Illuvium’s Interoperable Blockchain Game (IBG) approach enhances the cross-game utility of NFTs through a multi-game interoperability framework under which the game's NFT assets such as Land, Fuel, Skins and Illuvials (creatures in the game) can be used across the different games in the Illuvium ecosystem including Illuvium: Arena, Illuvium: Zero, and Illuvium: Overworld.⁸ The interoperability-powered cross-game utility of Illuvium’s Land NFTs led to their high market demand which resulted in the NFTs for the 20,000 available land plots being sold out within 72-hours during the Illuvium Universe Land Sale in June 2022.⁹ The Land Sale which is the first and only one thus far in the Iluvium Universe, was one of the most successful land NFT sale at the material time as it generated $72 million in sales volume¹⁰ which is 70 times the sales volume of Axie Infinity’s combined land sales in 2019 and 2020, and 20 times that of Splinterlands’ land sale in 2021.⁹ 

If you wish to tap into an existing pool of blockchain gamers, you can consider joining an ecosystem like Animoca Brands’ Mocaverse which also offers cross-game utility through multi-game interoperability to allow gamers to bring assets across various games. With Mocaverse, your Web3 game is part of a community of over 700k active monthly users¹¹ in an ecosystem with the top Metaverse NFT collection in Q3 2024 and beyond.¹¹

Thanks to the simplicity of Web3Auth’s wallet creation process, Mocaverse’s Moca ID had 1.5 million unique on-chain mints within 6 months of its launch in November 2023.

Next Steps 

Follow in the footsteps of Web3 gaming industry leaders such as Animoca Brands by partnering with Web3Auth to level up your Web3 game. Take the first steps by checking out our wallet ecosystem docs and connecting with our team via Discord or schedule a call with us today!

Sources:

(1) DappRadar, "Blockchain Gaming Reaches New Record: 4.2 Million Daily Active Users" - https://dappradar.com/blog/blockchain-gaming-reaches-new-record-4-2-million-daily-active-users

(2) and (3) DappRadar, "Market Sectors" - https://dappradar.com/research/market-sectors

(4) CryptoMode, "Analyzing The Alarming Failure Rate of GameFi Projects" (5 December 2023) - https://cryptomode.com/news/failure-rate-of-gamefi-projects/

(5) Blockchain Game Alliance, "Global Game Report 2024" (7-10 September 2024) - https://static.elympics.cc/reports/Global-Gaming-Report-2024_Elympics_BGA_PlayToEarn.pdf

(6) Hamster Kombat, "Whitepaper Rev. 0.3" (12 September 2024) - https://hamsterkombatgame.io/docs/HK_WP_03.pdf

(7) Traders Union, "Hamster Kombat Release Date — All Information" (uindated) - https://tradersunion.com/interesting-articles/nft-tokens-what-are-they/hamster-kombat-review/release-date

(8) Illuvium, "Whitepaper V3.4" (undated) - https://docs.illuvium.io/illuvium-whitepaper

(9) PR Newswire, "Illuvium Land Sale Powered By Immutable X Sells Out And Becomes One Of The Most Successful NFT sales In History With $72 Million In Land Sold" - https://www.prnewswire.com/news-releases/illuvium-land-sale-powered-by-immutable-x-sells-out-and-becomes-one-of-the-most-successful-nft-sales-in-history-with-72-million-in-land-sold-301564609.html

(10) Illuvium, "Illuvium Land Sale Explained" - https://illuvium.io/news/51-illuvium-land-sale-explained

(11) CMCC Global, "Mocaverse: The Infrastructure Layer for Crypto Consumer Applications" - https://www.cmcc.vc/insights/mocaverse-the-infrastructure-layer-for-crypto-consumer-applications

(12) DappRadar, "State of Blockchain Gaming in Q3 2024" - https://dappradar.com/blog/state-of-blockchain-gaming-in-q3-2024