In the middle of the year, DeFi fell into stagflation, and NFT entered a new bottleneck period again. At that time, the entire market was thinking about a question, where are the growing users and funds going next?
“A product with an average daily active users of more than 1.8 million in less than a year, and agreement revenue surpassed the traditional mobile game head “Honor of Kings”, and these results are the result of the game not being put on the major app stores”, Axie took over the voice of NBA Top Shot and Crypto Punk and became a new phenomenon-level project.
The two words “GameFi” and “P2E” began to appear frequently in various discussions, and the market placed great expectations on both. According to statistics from DappRadar, in only half a year, the number of users of online game apps has increased by more than a hundred times, and the number of daily active wallets of GameFi has increased by 700%. Several times as much.
From quantitative change to qualitative change, the core of P2E is still “mining”
It’s hard to imagine that a few years ago, the chain game with the main characteristics of simple and direct gambling game could grow into what it is today and become the most “hateful” appearance of itself, which once raised the gas fee price level on the chain. , Who would have thought that in the summer of last summer, chain games were still enduring the high handling fees brought by DeFi and congestion on the chain, and today he has become an important driver of increasing Gas Fee.
The Play-to-Earn model represented by Axie Infinity is the key factor that triggers qualitative changes. On the one hand, for games, from Play to Win to Play to Earn, the definitions and rules of traditional games no longer apply to this field. On the other hand, from the perspective of narrative logic, GameFi is Play plus Earn. For now, Play is added to Earn. Obviously it is the latter. From the purpose of purposes, the former definition of GameFi does not exist reasonable. Sexual. Therefore, the core essence of GameFi is a POW+DeFi mining behavior, but compared with traditional mining behavior, GameFi not only has more Play, behind this is a complex economic model that balances the relationship between Play and Earn. The integration of design, economic model and game rules, the introduction of NFT, the DeFi scene of NFT, etc.
DeFi is the core of GameFi, NFT is a necessary means of decentralization, and games are the shell of GameFi.
The guild has made Axie, but at present it is only getting rid of “slash and burn”
In the field of encryption economy, without user scale and growth, no matter how good the product is, there is no value at all.
In this craze, we can find that the game guild is an important promoter of GameFi’s rapid rise in the past six months. Take Axie Infinity as an example. This game has been released in 2018, but exponential growth has only happened in the past few months. And this kind of user growth is the key to the realization of Axie’s consensus value and economic value.
However, both early user growth and mid-to-late growth have certain difficulties. The operation and process require certain user education costs and knowledge thresholds. Without clear overwhelming benefits, it is difficult to attract people. In the mid-term, the popularity of the game will raise the funding threshold for subsequent entrants. Just like in Axie, players need to spend thousands of dollars in costs to take the first step in the game. In these two situations, it is easy to produce two extremes. Individual users are not efficient and have extremely scattered behaviors and low enthusiasm. The giant whale took away most of the proceeds, which severely restricted the scale expansion of the game itself.
The Philippine Game Association YGG (Yield Guild Games) has changed this situation. It has gathered a large number of people who have no source of income due to the epidemic. And AXS (three essential assets to play Axie) lend to these people, and then divide it with users in a certain proportion.
YGG reformulated the distribution of Axie’s benefits, making the path of distribution of revenues more decentralized and broad, and able to radiate more people. To some extent, it contributed to the change of Axie from quantitative to qualitative. But from a longer-term perspective, YGG is still a transitional product. It transforms the simple and rough individual “slash and burn” in the ancient chain travel era into an organized, scaled and professional production activity. It is also a junior “traditional handicraft cooperative”.
In the future, there will be more and more new projects for GameFi and even SocialFi. Game guilds similar to YGG will be copied in large quantities, and professional gold dealers will gradually be derived. The market’s FOMO sentiment will quickly eat up all the right users in the initial stage, and the transition from the blue ocean to the red ocean is almost overnight. At present, the efficiency of guilds like YGG in expanding users, including developing users, is still too low. Once the market starts to develop into large-scale competition, it will easily be subverted. In addition, if qualified users are consumed in a short period of time, it is difficult for them to quickly form new growth points.
More importantly, due to the limitations of the current game guild model in terms of revenue efficiency and input costs, after the bonus period of a certain game, the user input-output ratio will be seriously attenuated. And this simple centralized management model has certain security risks for user assets.
Pacific: The further expansion of GameFi requires an “industrial revolution”
We have said many times before that in the next development of decentralized applications, one of the most important directions is to lower the threshold for user participation in terms of cost and experience. Although the existing game guilds have been greatly optimized, the path for people to participate in GameFi still requires a certain cost. The efficiency of users’ rapid participation is still not high enough, and the group that can radiate is not wide enough. YGG has only reached 30,000 until now. There is still a big gap between the scale of multiplayer and the millions of traditional game applications.
So in the game guild mode, where is the next step for Play to Earn? Pacific gave a new solution. It is the world’s first GameFi asset custody mining pool. To put it simply, Pacific integrates all the equipment, technology, process, management, professionals, etc. involved in GameFi to provide a decentralized asset custody platform, or game custody, for players who want to participate. platform. Users who hold encrypted assets can host GameFi assets on the Pacific platform, and the platform can replace users to complete fixed tasks in the game to obtain revenue, or directly obtain a fixed revenue in accordance with the agreed ratio.
According to its official information, Pacific provides a very tolerant participation path for potential GameFi users. In addition to the original players, it has also set up corresponding entrances for users who have no time or greater investment propensity.
The first is for light players. Users can deposit GameFi assets in Pacific in a decentralized custody. The platform will replace users to complete the revenue tasks in the game, and then choose to recycle assets and obtain the revenue generated according to the liquidation cycle.
Secondly, users who prefer investment tendencies. Pacific automatically calculates the expected return on income based on the current market conditions. Users do not need to purchase GameFi-specific assets. They only need to pledge mainstream assets such as USDT to get the corresponding return on income.
For users, the value of this matter lies in:
1. Senior players: You can reduce the time invested in a single game, flexibly choose or adjust the game strategy of participation, and reduce the opportunity cost arising therefrom.
2. Onlookers: There is no need to spend a lot of time learning how to maximize the benefits in the game, and there is no need to learn the complicated operation process in the game. Users can quickly participate in or experience a game.
3. Investors: For such users, it is more to help users improve the efficiency of funds, to maximize clear returns with limited energy, and to reduce unnecessary losses for users in transaction frictions such as Gas Fee. And compared to traditional personal operations, Pacific has a more professional strategy, greater scale benefits, and it runs around the clock, avoiding the limitations of the person itself, and maximizing efficiency. It is worth mentioning that the entire custody process is decentralized, and users can view all records and data on the chain, which is more secure and transparent than the traditional participation model.
At present, Pacific is known as the largest overseas managed mining pool of Axie, and the scale of this mining pool and the games it supports are still growing rapidly.
For high-quality but early GameFi projects and developers, Pacific can help it quickly expand user scale and activity in a short period of time with higher efficiency and speed. In fact, the user types mentioned above are not limited to individuals. Users, guilds or independent communities can also participate in the game through this platform. Therefore, the potential energy behind Pacific can help high-quality early projects quickly complete the cold start and provide sufficient protection for the game’s activity.
In addition to GameFi, the closed-loop business of Metaverse with NFT as the core
It is worth mentioning that Pacific itself is a convergent NFT platform that can span multiple chains. As an important tool and asset in GameFi, NFT has a complete commercial closed loop in Pacific.
First of all, Pacific has an industry-first crowdfunding model-INO, that is, in the process of project crowdfunding or airdrop, each whitelist qualification is a unique NFT, and users can purchase or transfer these NFT cards that represent qualifications and rights. The card can be understood as a “tradable, value-added, and directional coinlist account”, and the proceeds from airdrops and crowdfunding will be directed to the corresponding NFT equity card holders. Compared with the general IDO model, long-tail projects in the market can get more opportunities and financial support.
In addition to Pacific’s own NFT transaction circulation platform, the platform also allows project parties to establish their own NFT DEX, and the NFT obtained by users in the game can be traded and auctioned within these DEX. The NFT issued by the GameFi project party can also use the liquidity and traffic on Pacific to obtain more sales opportunities. The NFT involved in GameFi on Pacific has complete production, trading, and circulation scenarios and channels, forming a healthy liquidity closed loop. The final result of this cycle is to continuously provide value support for the entire GameFi ecosystem, and then feed back users, projects and communities.
And at the level of NFT transactions, Pacific’s multi-chain and cross-chain attributes enable it to support richer asset types and more liquidity. With the help of Polkadot’s current multi-chain network, Pacific’s handling fees and network performance With greater advantages, projects and users have more freedom in the experience of participation, and can reach multiple public chain ecological assets and games on one platform.
In the future, Pacific will also launch a series of derivative financial products such as GameFi asset lending, liquid pledges, and popular pledges of NFT-type assets to further enrich the scenarios of GameFi and NFT assets and optimize capital efficiency.
Under the development framework of Metaverse, whether it is GameFi, SocialFi or other XFi innovation, development and exploration, it is the enrichment and broadening of the underlying logic of Metaverse mining. The people and scenarios it covers will become more and more abundant. To achieve the current popularity of the Internet, efficiency and threshold are always a core opportunity point. In a sense, Pacific has conducted a production relationship and cooperation in this field. The “industrial revolution” in the means of production is something more valuable and meaningful than the GameFi wave or the NFT wave.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/pacific-gamefi-and-p2e-need-an-industrial-revolution/
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