Despite a market downturn, Web3 gaming continued to draw investments. Yet, it needs inventive approaches for broader adoption.
The Web3 gaming industry is looking for ways to integrate blockchain with interactive entertainment. Bloomverse goes one step further and imagines a future where virtual achievements affect actual social status.
Despite the crypto market’s downward trend in 2023, the Web3 gaming industry managed to thrive. Blockchain gaming projects have seen $2.9 billion in investments in 2023, with over 1.1 million daily active users. Executives within the sector highlight the potential for “tens of millions” of new players onboarding in 2024.
The Web3 gaming industry may have managed to attract capital but still needs to work on creating a sustainable economic model, as existing Web3 games have limited utility for their in-game assets outside the ecosystem. Although the Web3 gaming industry is on the verge of revolutionary growth, blockchain-based games need improvement.
Blockchain games must introduce innovation to advance. Source: DappRadar
Web3 gaming needs new perspectives to navigate the complexities of integrating blockchain with interactive entertainment. Therefore, the next generation of Web3 developers should aim to create an engaging game structure, sustainable in-game economy, user-friendly interfaces and ads that don’t interrupt gameplay.
Integrating brands into the gameplay
Bloomverse, a blockchain-based game that integrates brands, online stores and service providers to its core mechanics, intends to solve substantial Web3 gaming concerns by creating a sustainable ecosystem that brings together products, nonfungible token (NFT) markets and influencers.
The platform integrates brands directly into the gameplay, offering quests and storylines where each brand contributes side quests or mini-games. By participating in various games, users can earn tokens, which can be exchanged for real-world rewards and products through sponsorships. Two years into its development, Bloomverse is already collaborating with over ten partnered companies and brands, including industry giants such as Amazon, Solana Labs and Glytch.
The Bloomverse’s play-to-earn economic model. Source: Bloomverse
Bloomverse aspires to elevate gaming experiences by enlisting experts like Yu-Kai Chou, the author and creator of the Octalysis Prime — a gamification model that analyzes human motivation through eight core drives, each representing a fundamental aspect of why people do what they do.
The platform also seeks to redefine game economies and ensure sustainability and engagement through the expertise of industry veterans such as Steven Sabol, ex-economy director of Star Atlas, who designed an innovative token-neutral model.
Utilizing the integration of brands into game mechanics, the innovative model aims to make in-game advertising and loyalty rewards more efficient. Bloomverse seeks to be a game that gamers can easily adapt to while using NFTs and blockchain technology.
A blurred line between virtual and real
The Bloomverse team is preparing to introduce in-game utility accessories in collaboration with Magic Eden — an NFT marketplace. The team is gearing up for a seed round in 2024, bolstered by a partnership with Amazon. Alpha gaming tournaments are also planned to launch on the Solana blockchain in the second quarter of 2024, following the release of the first batch of player items.
Gameplay image of Bloomverse lobby. Source: Bloomverse
Fernando Cortes, CEO of Bloomverse, envisions a future where the lines between gaming and social stature blur, stating:
“15 years from now, your gaming status will be deeply tied to your social status, your gaming achievements will be real-world achievements and your online benefits will be offline benefits. Bloomverse is the first concrete step in that direction.”
With Bloomverse’s unconventional approach to blending blockchain, brands and gameplay, the broader Web3 gaming landscape may witness a maturation toward ecosystems where the symbiotic relationship between players and brands flourish, offering mutual benefits within the immersive tapestry of digital environments.
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