Why the cryptocurrency crash is great for web3 games (and how it's going now)
- By Blockchain enthusiasts
- February 16, 2023
If you have a digital currency, that's an unsettling thing. If you invest NFT in projects, it will be a disaster. It's a cautionary tale for some who have been worried. For some business history students, it's also another chapter in socioeconomic history, from the Dutch tulip bulb craze of the 1960s to the economic bubble of the early 2000s. But no matter which part you're in, data encryption crashes are probably the best thing to happen to web3 games and apps.
Ethereum hit $4,811.90 on November 6, 2021
On November 10, Bitcoin hit $68,789.63
December NFT sales grew by $100,000 / day, totaling nearly $200 million
BTC is trading at the bottom of $20,000 today. Ethereum is just over $1,500. NFT's sales have fallen by more than half.
This sounds bad for web3 apps and games. To be honest, this is not surprising. Installation of web3 applications -- at least wallet and NFT favorites -- has plummeted.
But some of the leading experts in web3, blockchain technology, play-to-own and collectibles have pointed out that crashes aren't, in fact, all wrong. It might just be a much-needed slap in the face that sparks real indigenous innovation.
Web3 Games and Apps: The Next Web Buzz, or Hot Topic?
Recently, everyone from MythicalGames, TheSandbox, Upptic and Appvertiser came together to host a webinar on web3 apps and games. Overall goal: Open the door to web3, define what a web3 game or application is, and share web3 good practices on the device.
Use web3 and games
The team members include:
AnyaShapina, head of performance at Sandbox, a decentralized, open metauniverse concept that people can own, build and monetize on the Ethereum blockchain to house his possessions and feelings.
DanielLopez, VP of promotion marketing at MythicalGames, which prompts her to abandon her high social network to offer professional self-play games on her platform, and prompts her to abandon her high social network to abandon her high social status.
CGOWarrenWoodward is the co-founder of Upptic, a game enhancement technology and services center whose elite team of partners include AxieInfinity and Kabam generates more than 50 million new players each year for the games they encourage.
HagopHagopian, founder and CEO of Appvertiser, has managed more than $50 billion in AD spending.
Data encryption crash 'Do indoor space'
No one doubts that web3, blockchain, and digital currencies/have had their share of scam companies. The digital currency crash is a bit of a cleanup for all the remaining web3 games and applications.
"It creates an interior space," said AnyaShapina. It gives everyone the quality of the picture. A lot of the projects that weren't intrinsically specific and had bad merchandise have gone away, making room for new, better projects, making room for good games that are more sustainable. "The community has become more physically and mentally healthy and there is less hype. And what I also want is that the entry-level price [and] the NFT price has come down, which also makes it easier for the average person to afford and add to the space."
Minimizing web3 hype on the surface seems like a good thing.
Now, maybe it's gradually coming to work.
"The bubble is definitely disillusioned," says DanielLopez. "But, you know, the sales market is going down. Things went back and forth. Everyone goes through the hype for a while. That's great. Now it's time to gradually get to work."
The sales market is going down. But people who just want to make a quick buck -- whether or not they need a good product or a good user experience -- tend to be the ones who get sucked into very hyped ecosystems. You know the types at LinkedIn: they're all the leading experts in social networking, then mobile, then data encryption. Now they're looking for the next new thing to become an insta expert.
Warren Woodward says the plane crash cleaned that up.
"Now that we're past this really wild speculative phase, it does lead to a correction... If you're still here, when you've built something, you've probably built something because you value what technical performance can bring, not because you want to make a quick few million dollars." "So I'm very optimistic about the noise reduction that this current reduction provides us."
While few of us would turn down a few million dollars (!!) , but it's only right: for a healthy viable ecosystem, we should see web3 applications and games that do fun things, give real value, entertain everyone, and have a great user experience. We don't need another auto-generated NFT combination. We should really create Spaces that are entertaining, easy to use, and purposeful.
So... How do you develop web3 games and apps?
It's not easy or guaranteed, but there is an accepted development manual... I should say it's traditional... Apps and games. It involves precision targeting, advertising, themed event promotion, ASO, SEO, artistic creative optimization, and lots of cash. (A great game or experience is basically a prerequisite, a bit of viral marketing and popular marketing doesn't matter.)
But what about web3?
The situation is somewhat different.
First, you need to know who your overall goal is.
"Our own marketing techniques and methods had to be completely different," says Shapina. "We don't want to pinpoint the time of the web3 data encryption locals, like the totally popular customers, fans of well-known brands or people with millions of dollars in their wallet accounts and those who have just set up their first wallet account. They need different marketing tools and different types of user trips. Yes, they also need a different on-boarding experience."
Once you confirm this and build a themed activity around your designated group, it becomes interesting. The way you market your web3 games and apps is very different from the most typical games and apps, and most of the approaches are very consistent.
"Early in their life cycle, a lot of new web3 projects were just empowered by the community," says Shapiro. "Discord and Twitter are everything, [adding] sometimes Telegram... Traditional marketing techniques and performance appraisal marketing have also changed in the middle and late life cycle.
The first part of this answer has been a personal test for me, because you keep hearing "This is a community too, this is a community" when we discuss the growth of data encryption, blockchain technology, NFT and other web3 projects. It's exciting to shift the responsibility of growing up onto the community, especially if you're a beginner in the field and... In fact... No.. The community.
So what do you do?
It's one thing to go from 1 million to 2 million. From zero to thousands... It's a completely different test and it's hard in every way because there's no motivation. The ball didn't roll down.
How do you beat zero to a problem?
So, if you have nothing, how do you start?
Use other people's communities.
"As a founder, you have to be an endless AMA," Shapina says. "There is also a strategic partnership, right? It's like you're actually having an AMA with another community. You can get all the members of the neighboring community to join your community."
Plus, you just need to get the job done. On Twitter. Add Discord. By E-mail. The contact will most likely be interested in the game you're working on or the team that's interested in using it. Reach out to influencers who may be able to energize the team around the specifics you generate.
This is essential for the original web3 early adopters. For those of you who are not web3 natives or fans, there is another solution.
"There are two very different audiences," Woodward says. "There is this key, already in the web3 audience. This group is highly educated and questionable. They respond really badly to advertising. Then you have a popular gamer base where you can run a lot of traditional growth marketing strategies that have been building for years." Woodward gradually established the new web3 project and worked with others to self-regulate the area. He had very much decided that he could not apply his general script here.
Mobile marketers are likely to know more about the second set of professional skills: acquiring players and customers as usual. Woodward offers a note of caution: Start by creating a target community directory that seems highly aligned with your product. Create a catalog of similar new products for high rise, mid rise and low level homes and then reach those value-added communities.
Good news: Your current expertise could be useful.
Many web3 applications and game marketing are still very much following the traditional mobile growth approach.
In fact, they are better integrated with the preferred web3 strategy, where organic chemistry marketing and paid promotion complement and accelerate each other.
HagopHagopian says: "Hot spot marketing, uniqueness... Fear of missing out... Committed to brand cooperation... All of these are great ways to promote. "[But] don't worry about using web2 traditional book marketing... Spend some money on marketing, gaining a niche, creating a key audience, or making the most of the ripple effect. Build the Internet. If you get the industrial base, the industrial base will do the work, they can advertise for you. They will do it on the premise that you get more investment in projects and then invest in projects in the same way."
Great opportunity: Introducing web2 style performance appraisal marketing programs and consideration methods into web3 style marketing, making relative customization and random items more and more measurable, scalable, and improved. (Note: In terms of SingularLinks tie-ins, it makes sense where it makes sense, thanks to technology, in-app things, and maybe even some really good old special code.)
Of course, testing still exists, and not just data encryption crashes.
The index values in web3 are quite different from those in traditional applications. You may need to monitor the health of transactions and resales by tracking connected wallets, total transactions, money supply, NFT usage capacity and volume, and market metrics that can generate additional regular revenue for your application or game.
This may look a lot different than the key metrics you track in a traditional game or app. So there's still a lot to figure out.
DanielLopez, senior vice president of Growth marketing at MythicalGames, said that as web3 marketers have moved from early adopters to the mainstream, they have mostly had to choose popular marketing methods.
"I think [existing] UAstrategiesandeverything, Lopez said itallplaysextremellywelltoWeb3. Otherwise, you will incur high costs, such as hyper-purpose, individual segmentation of the small customer authorization management category, and it will become increasingly expensive.
He adds that all the old-school marketing strategies are still important: upgrade your approach, lifetime marketing, app store promotion, seo optimization... Every foundation.
Even old-school ways like co-branding are important.
"Strategic partnerships are still very important," Lopez said. "Everybody has a deal with the NFL for a variety of reasons. This is a well-known brand, breaking down market barriers, getting people to click on this AD, making our ad-themed campaigns at Google more efficient, right? Like, it's just everything about playing the game."
But all of these are important: simple food, old school and web3 technology.
"[In the past] you could just be a mobile-first growth marketer and be fine with that," Lopez adds. "Now, that's not good. You have to be a community marketer. You have to be a trend-driven marketer. You must be a leading expert on the web. You need to know everything."
Plenty of choice for web3: Still on the horizon?
Scale options are still on the horizon, team members say. It's not immediate, but it's coming.
What's the matter?
Web3 is well designed for originators.
"I look at my eight-year-old son and he's playing sandbox," Shapina said. "Its first trend is that he wants to do it... In web3, the user is the founder... You know, there's a whole new generation of kids growing up to be founders."
In addition, web3 games and web3 applications are getting better and better.
"The games themselves can be a huge driver, once they're fun enough and have enough feel to them," Woodward adds.
Perhaps most importantly, web3 itself will fade as a genre as technology is seamlessly integrated into application design and game building. For example, if you search the World Creator/High Street Rave/Game Creator Blankos website or watch its short video trailer, you won't find the word "web3" or "crypto."
It's just about the game.
But we can have property there. And buy NFT.
"How many people know they have NFT when they play Blankos?" said Lopez. "It's just a good race here because it's easy to get lost. It's an interesting game. These are just the cool things you can buy. Who knows if they guessed an NFT they could still buy in the secondary market?"
Even so, for many web3 games and applications, large-scale selection is not easy to produce immediately. It's really hard. Connecting a wallet is horrible. Beginners get a poor start. There must be 25 stages of purchase.
But that's all about to change. By the time most of us turn it off, everyone will understand that this is happening.