In 1992, Neal Stephenson, an American science fiction writer, envisioned a future in “Snow Crash”: by putting on a headset and goggles and finding a terminal, one could connect to a computer-simulated alternate 3D “reality” where everyone could have their own doppelganger in a virtual space parallel to the real world.
The “Metaverse” mentioned in the prospectus of Roblox, the first Metaverse stock to go public in 2021, echoes this bold idea.
The Metaverse and gaming have been entwined since their inception. In the not-too-distant future, the virtual world of the Metaverse is being brought to life step by step.
Metaverse: the all-round migration of gaming experience
On March 10, 2021, Roblox landed on the New York Stock Exchange as a DPO, and on its first day the stock price rose 54.4%, giving the company a market cap of $38.2 billion. A year ago, Roblox was only valued at $4 billion, and the new concept of “Metaverse” quickly broke the circle and exploded the Internet and technology industry giants in China and the United States.
Behind the new concept is a boom that the industry has not seen in a long time, a concept similar to VR (Virtual Reality) is rising up and countless wacky terms are overflowing people’s imagination. Those who believe and those who don’t, are trying to find value in it.
The “metaverse” of 2021 has already surpassed the perception of 1992: it has absorbed the results of the information revolution (5G/6G), the Internet revolution (web3.0), the artificial intelligence revolution, and the virtual reality technology revolution including VR, AR, MR, and especially the game engine, and has shown mankind to build a holographic digital world parallel to the traditional one. The possibility of building a holographic digital world parallel to the traditional physical world.
From the C-side, offline experience is gradually upgraded to online immersive experience, ushering in a new wave of interactive experience upgrade, driven by AR, VR and other technologies, more immersive consumption may become the norm.
From the B-side, integrating De-Fi, IPFS, NFT and other digital financial achievements, the NFT system is expected to realize the assetization of services, labor, creations and props within the meta-universe system and realize digital asset circulation transactions within the meta-universe.
Rome was not built in a day, the underlying infrastructure of the meta-universe is undercurrents, and the game industry is experiencing an all-round migration, but the environment of game creation is not optimistic.
The death of game creation: creative crushing and funding difficulties
For most users, games are one of the most familiar and yet unfamiliar industries.
Like the traditional game market, game creation often faces problems such as lack of funds in the production, distribution and sales stages. For example, the biggest drawback of the game market is that most of the sales revenue goes to publishers, digital distribution platforms and marketing, leaving very little for the creators in the end.
Not only that, but for game developers, initial funding is often one of the biggest headaches. The crowdfunding site Kickstarter was once a dream destination for indie gamers, where many of them raised funds and created games that immediately hit the market – “Adventure in the Rain”, “Hollow Knight”.
But there was an influx of games of varying standards. A lot of developers came in with the attitude that they would just make a quick buck – hit their crowdfunding goal and release a shoddy game, more and more gamers didn’t trust the games on Kickstarter, and Kickstarter provided less and less support for game developers.
For most game projects, game crowdfunding is fading. It is generally difficult to raise enough money unless the crowdfunder is a celebrity, and while some of the lesser-known developers have been successful, the odds are low. In any case, the lessons learned from Kickstarter are still worth learning from game developers.
Gamestarter: The next stop in game crowdfunding
The “meta-universe” originates from games, but the gameplay and imagination go beyond games.
On the one hand, the infrastructure and framework of the game-oriented “metaverse” is mature; on the other hand, the boundary between games and the real world is beginning to dissolve, and the creators are only the first players, not the owners, and the rules are decided by the community on their own.
On the other hand, game development itself requires a lot of money, and the pie is often a last resort; in addition, the game development process is not short, and it is almost inevitable that the final game does not match the crowdfunding hype.
Gamestarter has identified the pain point of the game market and built a crowdfunding platform through blockchain technology, combining pre-sale NFT and crowdfunding indie games.
Traditional game crowdfunding can be described by 4 factors.
Poor liquidity: your investment may not be liquidated for many years
High risk: there is a good chance that your investment will never be realized
High Barrier: You are likely not even allowed to participate or the cost barrier to entry is too high
Vast market: you haven’t gotten in on something that has been embraced by almost 100 million people – an industry that is growing double digits per year and is already trading at tens of billions
NFT enables digital assets to be traded within the metaverse:
Game props are a big economy in the virtual world
Game props are often digital items with utility that cannot be faked: skins to show off or celebrate, weapons to fight with, resources to create, etc.
Game props are heavily used in the global gaming economy, a $160 billion business that is growing at a rate of over 10% per year
NFT can be used to finance game projects:
Tokens are liquid
Tokens can be used
Tokens are low risk compared to traditional crowdfunding
Token offerings will make retail gamer investors’ dreams come true
It is seeing the advantages of NFT that Gamestarter is the first platform to combine the benefits of traditional crowdfunding opportunities with token financing, breaking the rules of the original crowdfunding and building a new way to play the game crowdfunding game.
For game developers, Gamestarter offers a new funding opportunity for developers who can raise money while retaining ownership and IP, while introducing a new revenue stream for gamers and developers, ensuring gamers get a liquid stake in their favorite games.
For gamers, game developers distribute game props as NFTs, which gamers can purchase as investments.
Avoid purchasing illiquid and high-risk equity. Also build an economy based on rich tokens, offering referral bonuses, digital goods, rewards programs, etc. to provide power.
Tradable NFT assets are priced in USD and are settled in game tokens. Payments can be made through traditional methods such as Paypal. Players can participate in game token mining in a variety of ways, including: referring players, participating in the beta, watching ads, trading NFTs, participating in incentive programs, posting comments, sharing content, entering contests, and more.
Gamestarter has raised over $2 million privately so far. The round was led by DAO Maker and other blockchain venture capital firms such as AC Capital, AngelONE, Evangelion Capital, AU21, Shima Capital, Coincurb, Kyros Ventures, MGNR, and X21 Capital. Meanwhile, Gamestarter will soon go live with DaoMaker for SHO, with the first 400,000 market cap in circulation, and the platform will go live in Q3 2021.
Gamestarter creators open the opportunity to establish a direct relationship with buyers, breaking the problems of creative pressures and funding difficulties, while completely freeing NFT for digital asset circulation transactions within the meta-universe, as well as game project financing issues, Gamestarter leads game crowdfunding into the next station officially.
Author | AC Capital
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/gamestarter-the-next-stop-for-game-crowdfunding/
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