When your game props are made into business

The emergence of Forte has lowered the threshold of blockchain games, allowing more people to participate in blockchain games.

If you want to count the annual hot words of the science and technology industry in 2021, Metaverse must be selected.

When everyone is talking about this new thing in full swing, the name Roblox can’t be avoided .

In March 2021, Roblox, a sandbox game platform based on the concept of Metaverse in the United States, went public with a market value of more than 40 billion U.S. dollars at one time, and the entire capital circle was hit with blood.Because a year ago, its valuation was only 4 billion U.S. dollars, a tenfold increase.

Roblox’s model is that it does not create games itself, but provides platforms and tools for developing games, allowing players to make their own games. With the accumulation of creation and the influx of players, the entire platform will continue to expand in cycles, forming an economic system. And the platform gets a share in it and realizes profit.

In the blockchain world, there is also a platform similar to Roblox, which is Forte.

Simply put, Forte does not make games, but creates a platform that allows game developers to integrate blockchain technology into their existing game products. Of course, they are also creating new games on the platform from scratch.

In addition, the platform also supports the NFTization of ingame props (non-homogeneous tokens, that is, the only cryptocurrency token of digital assets that can be bought and sold) to create a community economic system.

Within half a year, Forte has completed two rounds of financing-185 million U.S. dollars in May 2021 and 725 million U.S. dollars in November. Capital favors it.

In my opinion, Forte’s influence is not only in the capital market, but will drive a wave of “blockchain games” craze, which will affect the current blockchain industry in a deeper level.

Forte is Roblox in the chain game

Forte was founded in 2019 and is headquartered in San Francisco. One of its founders is Kevin Chou (周凯文), who is a continuous entrepreneur in the game field, and the other is Josh Williams.

When your game props are made into business

Kevin Chou

Kevin Chou once founded Kabam, a multiplayer social game development company, and is also the founder of Gen.G, an e-sports company. After years of cultivating in the gaming industry, he founded Forte with his own ideas:

Extend the life of game products.

Zhou Kaiwen believes that in many online games, players have no ownership of the game account assets, which is more like a lease relationship. The props that players spend money to buy, it is difficult to make a second transaction. When abandoned by the player, these items have no value.

When your game props are made into business

Kevin Chou

In order to solve this problem, Forte’s idea is to integrate blockchain technology into the game to create a community economy.

On the Forte platform, game companies can use the blockchain technology provided by the platform to launch corresponding NFTs for their own game items, and players can buy these NFTs.

As of May 2021, there have been 25 game developers covering more than 8 million players using Forte’s technology; more than 5 million NFTs have been recorded on the blockchain and used in games.

Once the value of the item’s NFT rises, players can sell their NFT to achieve profit. Game companies can get a certain fee in the transaction and realize profit.

In this transaction process, there is a user experience problem, and Forte solves it well.

Friends who have had encrypted transactions may know that the operating experience of encrypted wallets is not good, not to mention that hackers can easily steal your assets. If you lose the password of the wallet, the assets there are almost equivalent to disappearing.

In addition, when game developers use digital wallets to conduct transactions, they must also clearly know who the other party is and be protected from money laundering at all times.

When your game props are made into business

Forte CEO Josh Williams

For these unreliable trading experiences, Forte is technically alleviated.

More importantly, it also solves the liquidity problem of transactions.

On Forte, sellers of game props don’t have to bother to find buyers, because they can sell NFT directly to the platform for realisation. The platform can buy low and sell high to achieve profit, which is also Forte’s main profit model.

A typical Erdao dealer.

Kevin Zhou believes that Forte has created two aspects of value. On the one hand, it gives players greater freedom to dispose of game assets. On the other hand, it provides game developers with a better business model, which is to transform game products from a centralized entertainment platform to an open economic platform.

He said that this will be the future development direction of the game.

Right now, Forte is in full swing. As of November 2021, there are more than 40 Forte game developer partners and more than 15 million partner game players.

The capital added is also a well-known institution. This November round of financing was led by Sea and Kora Management, the parent company of the shooting mobile game “Free Fire” developer Garena. Other investment companies include Animoca Brands, Warner Music Group, etc., and other investment companies like Andreessen Horowitz (a16z) And Tiger Global, etc., also participated in this round of financing.

Chain games speed up, Forte promotes

The author believes that Forte’s momentum will not only promote the game industry, but also have a profound impact on the blockchain industry.

The intermediate medium is the blockchain game. The big difference between blockchain games and traditional games is that their game assets can be freely bought and sold on the secondary market.

When your game props are made into business

Therefore, developers of blockchain games can make money based on the circulation of NFTs such as game props without the need to sell members and other means, and game players can also truly own their own assets.

When developers and players participate in a system that can be circulated and traded, a community economy has actually begun to form. If you add a mechanism to reward creativity and collaboration, the community economy will expand further.

This is actually moving closer to the ultimate value of the blockchain: the systematic integration of technology, economy, and community.

In the vernacular, it is through technological networks that everyone in the community can create value, and in turn can absorb value.

Many people in the chain circle have heard of Cryptokitties, the world’s first chain game, which was very popular at the time. At that time, it was still in the 1.0 era of collectible games.

When your game props are made into business

Cryptokitties

Up to now, chain games have developed to the 3.0 era with P2E as the core, namely:

play to earn, play games to make money.

Specifically, it is to tokenize game assets through the intervention of NFT, so that the game virtual assets can be directly endowed with real value attributes. At the same time, NFT can promote the marketization of game assets by conducting transactions on the chain. Players can achieve profit through transaction flow.

Let the P2E chain go wild, when Axie Infinity.

This is a NFT+ Metaverse game on Ethereum.

When your game props are made into business

Based on the NFT mode, Axie Infinity created a Pokémon game world. The fantasy wizard in the game is called “Axie”. Each Axie is unique and can be verified through the blockchain.

Each Axie will be bound to an NFT, which contains the game’s character attributes, appearance and ownership data.

Any game player can participate in gameplay to earn NFT for consumption or transactions.

In August 2021, Axie Infinity generated more than US$334 million in revenue in a single month, which has exceeded the US$231 million in revenue generated by the popular domestic mobile game “Glory of the King” in July last year.

In the following months, Axie Infinity continued to climax. As of December 16, 2021, its total transaction volume has exceeded 3.79 billion U.S. dollars, and the number of traders exceeded 1.13 million; its revenue in the third quarter of 2021 exceeded 780 million U.S. dollars, an increase of 48 times from the previous quarter, and its single-day revenue even reached 4000 Ten thousand U.S. dollars.

It has become the largest game on Ethereum, and it has also promoted blockchain games to the masses.

When your game props are made into business

This excites the entire blockchain industry. Because this means that the role of Axie Infinity as a leader will stimulate the birth and rise of more blockchain games.

Many blockchain game manufacturers have emerged as unicorns. For example, MythicalGames is valued at US$1.25 billion, AnimocaBrands is valued at US$2.2 billion, and SkyMavis is valued at US$3 billion.

They will provide the blockchain industry with more new types of community economy.

The emergence of Forte has lowered the threshold of blockchain games, allowing more people to participate in blockchain games. Invisibly promotes the development of the blockchain industry.

It plays the role of a pusher.

Hot industry

Driven by Forte and Axie Infinity, the entire blockchain gaming industry has actually become hot.

According to DappRadar data, as of December 15, 2021, a total of 1201 game Dapps have been deployed online; the number of chain game players has increased from 80,000 in early April to more than 3 million in December; daily transaction volume has increased from At about US$500,000 in early April, it has grown to an average of about US$22 million.

When your game props are made into business

Behind this is the support of a large amount of venture capital. According to incomplete statistics, from September to December 2021, blockchain game financing has exceeded US$2.1 billion, and many well-known ventures such as Softbank, Sequoia China, LD Capital, and Hillhouse have been invested in the bureau.

When various types of blockchain games are emerging, P2E games are undoubtedly the protagonist. P2E projects such as Axie Infinity and Splinterlands have emerged one after another.

In addition, traditional game manufacturers like Ubisoft are also trying to make blockchain games based on NFT.

Gamevil’s first NFT game “Hi Ella” will be launched in Q1 of 2021; NCsoft announced that it will launch a P2E NFT game in 2022, and stated that all future games will join the P2E mode.

And game giants like EA, although they have not taken actual action yet, have also stated that “NFT and blockchain are the future of the industry.

When your game props are made into business

Of course, whether blockchain games can continue to be popular , in addition to relying on promoters such as Forte and the entire blockchain environment, also depends on the prosperity of the game market.

After all, it is still a game in the final analysis.

Currently, the global gaming market is worth 180 billion U.S. dollars and is the fastest-growing form of entertainment in the world. In a horizontal comparison, the global film industry is worth 100 billion U.S. dollars, and the total annual income of all sports in North America is 73 billion U.S. dollars.

Forte CEO Josh Williams is very optimistic about the prospects of blockchain games. He said:

“As the connection with players gets closer and closer, the gaming industry is evolving all the time. We believe that we are at the forefront of the wave of new technologies, and blockchain games will be greater than all the changes we have seen before. “

refer to:

1. The version number is not yet known. Domestic game teams have turned to blockchain games?

2. Forte has raised USD 725 million for its blockchain game platform, and the revolution in the game industry has just begun

3. Chain travel financing exceeded 1.4 billion US dollars in two months, Jack Ma and Sequoia China entered the game

4. Blockchain games: difficult to continue or the future has come?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/when-your-game-props-are-made-into-business/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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