Researcher: Rachel  ( Reid (@Rachel59538153) / Twitter)

Translator: BitMetis (BitMetis (@BitMetis) / Twitter)

Your Source of Reliable, Unbiased Research and Due Diligence

I appreciate Ready Player ONE, especially the words Halliday has said, thanks for playing my game. Hopefully,  there will still be pure Hallidays building a new OASIS after a mess.

——Rachel

Rachel analyzes the content of game-fi in terms of dividend, game+X mode, and regional evolution from the perspective of games and encryption, and presents the diversification of gamefi development with the past, current and future development as the timeline.

And these are some of the best takeaways you can't miss.

You can imagine the chain as a country, which needs to establish basic political and economic rules (consensus algorithm) before it starts to operate. Each subject builds a business ecosystem under the basic framework: Federal Reserve - Commercial Bank - "Commercial entity" . Also it needs to cultivate enough population to ensure the operation of the entire economy.

For chains, the Federal Reserve (stable currency) and commercial banks (DEX/lending) are often required. After building the financial service infrastructure, tokens are needed to bring in more users and increase economic activity and financial revenue (chain revenue).

With the prosperity of the economy and more complex forms, derivatives emerge. There is a need for assets to circulate and develop for cross-chain infrastructure. Gamefi, some Defi, and NFT can basically be attributed to the category of "Entity economy".

However, the construction of the "country" itself also has certain limitations: decentralization, security and scalability can only achieve two of them, and you can't have them all.

• Provide new cold boot scenario

• Change the way to adjust the game

  Most of the current Gamefi is based on the design of economic mechanisms, which guides players' behavioral decisions in the middle and late stages. That is, the core decision-making is purely based on the economic benefits in the game, and other interesting designs do not have a significant impact on the decision-making.

• Players: From pure consumption behavior to investment; from passive participation in the game ecology to active.

• Games with ecosystems naturally have transactions, and most of them have their own. There is also a need for the circulation of props and tokens in the game.

• Games in a broad sense also include games with simple mechanisms and diverse result spaces as their basic features. Realize the transparency of the mechanism, the privacy of the results, and the decentralization of the operation with smart contracts;

• Multi-aim of in-game assets (trade,invest, collect) and great fit with NFT

• Brand-new mode for UGC and DAO governance

• The flow inlet of L1 and the test field of L2

The core of X to earn is to use numerical values ​​to create the illusion of users + find suitable backers to tell first-level and second-level stories + sophisticated gamification operations. First of all, X should have the characteristics of high frequency, low participation threshold, and easy disassembly and tracking of user behavior.

The key to this model lies in how the token economic design is integrated with the user behavior path, and how expectations can be "realized" through the first-level narrative and the second-level market making. It is difficult for most gamefi and even X to earn projects to do it well.

The regional evolution of Gamefi is related to many factors, and it still needs to be divided into two perspectives: game and crypto. Here is a rough classification

• Countries of High Crypto penetration + High game consumption + low game development-early participants but hard to maintain. Like Southeast Asia, Latin America, Africa

• Countries of High Crypto penetration + High game consumption + high game development-Able to keenly capture Gamefi's upgrade needs and have enough development capabilities to meet the needs, perhaps be the leaders of Gamefi's investment and development, like Europe, America and Korea.

1. Originated at Southeast Asia, but not the core

2. Korea: The Korean and even the entire crypto market quickly came to an end due to excessive frenzy

3. Japan: conservative- lack of innovation,long decision-making cycle

4. Africa and South America: potential but lack of first hand information

5. Europe and America: center of investment and innovation

• Development Team R&D capability and self-research ratio have increased, but less innovative design of game mechanics

• Design and operation The traditional team lacks the ability to mobilize the community from the bottom up, and the crypto native team lacks experience in game numerical design and game economic model adjustment, which is not proficient in various means to maintain the stability of the game economic system

• Promotion It is still impossible to completely get rid of traditional distribution and promotion channels, such as Google Store, Facebook, YouTube, etc.

• Policy and Supervision

• Use business fee as staking rewards

• Use some governance tokens as staking rewards

Ve model application in game economics model

In the future, there will be more and more second- and third-tier web2 teams and even head teams who can quickly learn token design and conduct more explorations in scene development, token and numerical design.

The value of in-game NFT is still in the role of "shovel", and NFT can give social attributes and display functions.

Connect with other social platforms to show the achievement system NFT, as the identity proof of CP's participation, obtains more rights and value on the content platform NFT pass cards and community entry barriers Rewards for random exploration or completion of game content: NFT rewards Additionally, NFTs are programmable, composable, and playable.

Unlike traditional games, NFT holders do not have to enter the game, because NFT itself is a prototype of a game. Through the interaction and voting between NFT holders, it affects the direction of the entire project.

Game player behavior tracking and classification services, overseas operation opportunities and on-chain operators.

A. Infrastructure

B. Cloud games

Cloud games will subvert gamefi's revenue charging logic, and may change from free-to-play or buying NFT shovels as a threshold to shovel + point card payment.

C. VR/AR

Many metaverse projects claiming to be developing VR/AR versions in the future have not made any progress.

D. AI-generated content：https://github.com/ls361664056/GameAI-paper-list

E. NFT

• NFTfi: NFT lending and NFT combination will have great development in the game track; NFT lending platforms may not have a separate giant, and most of them will extend from guild service providers or the in-game NFT rental market.

• NFT utility development: Explore the various functions of NFT itself, such as in-game asset lease contracts, as the carrier of the metaverse itself, etc.

The chain and the game achieve each other. The chain with rich ecology, high performance and capital support can bring a relatively high Beta to the game CP itself. It is mainly reflected in the aspects of fast transaction speed, low latency, large user base of the public chain wallet entrance, stable value of tokens, and convenient DEX transactions; games are also the starting point for active application diversion to the chain.

• Whether the design of the number of tokens conforms to the economic depth of the CP itself

• The rhythm and quantity ratio of token destruction and output;

• There are enough diverse and continuous scenarios for reasonable in-game asset consumption;

• The ability of the team to make emergency adjustments based on actual extreme situations

• Large-scale games: The category development and life cycle are relatively long, but it is not necessarily a category with high risk and high reward

• Casual games: At present, the simulation business category and social category are mainly used, and the entry threshold is low.

• Defi games: It is necessary to have sufficient data analysis and Defi product understanding capabilities, and to realize "defi product materialization".

From Rachel’s perspective, gamefi may appear the trend of polarization that the combination of games and crypto will be reduced. That is to say, the gamefi that is close to modern video games will be more "light chain change", gradually reducing its own ponzi characteristics and increasing players' consumption behavior; CP with a more crypto-native form will be composed of a core team with a background in mathematics and cryptography. There is no return to the "fun" that geeks and financial gamers will find.

*Note: The above content is just for reference only and does not constitute any investment advice.

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Original

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