Gaming & Tokenomics ~

A discussion highlighting pain points and use cases in the creation of Gaming & Tokenomics

June 18, 2024 @ 1300 UTC via Zoom

Pain Points

Lack of suitable wallets for gaming, particularly on mobile.
Complex multi-account wallets cause confusion and obfuscate accounts on Cardano.
Requiring multiple steps to move tokens between chains creates a complex and not user-friendly experience.
Handling various tokens and ensuring smooth user experience across different chains can deter users.

Legal and Regulatory Issues:

Governments impose significant regulations on games with tradable assets, creating legal risks for developers.

Economic and Funding Constraints:

Challenges in setting up initial traction for projects. There is a large amount of "up front" work.
Dependence on VCs can skew ownership over time and disrupt the teams' economic incentives.
It cost ~ $1M per year for a team of 5 game devs working full time to push innovation boundaries.

Transaction Volume and Market Sentiment:

General decline in transaction volume and user engagement across blockchain ecosystems.
Market fatigue, reduced activity due to economic conditions and zeitgeist competition from new technologies like AI.

Simplified User Onboarding:

Implementing features like "play as a guest" to lower the barrier to entry, with incentives for users to create and connect their wallets later. This approach helps attract users who are initially hesitant to deal with wallet setup.

Cross-Chain Gaming:

Integration of games across multiple blockchains to allow seamless interaction without the need for users to bridge assets manually.
Leverage the diverse features & capabilities of multiple blockchains in a single stack.

Token Economics in Games:

Use of in-game tokens to upgrade NFTs and buy new packs, creating an economic loop within the game that incentivizes both playing and investing in game assets.
Ensuring that in-game tokens have clear utility and value to encourage user engagement and investment.

General decline in transaction volume across different blockchain ecosystems was discussed. The specific numbers were not provided, but the sentiment was that user activity and engagement have significantly decreased.
There was a mention of a game bounty with 100,000 DOT ready to be given to builders who like to use Polkadot technology. This represents a substantial funding opportunity, without highlighting the complexity of accessing and utilizing these funds effectively.

Users find the process of setting up wallets and managing multi-account systems confusing and intimidating. The presence of multiple steps to move tokens between chains acts as a significant barrier to entry.
The complexity and risk associated with bridging between different blockchains deter potential users. Users prefer seamless experiences where they do not have to manually bridge assets.
Developers face significant challenges when integrating games across multiple blockchains. Each blockchain has unique technical requirements and limitations that must be addressed.
Designing effective tokenomics is crucial for the success of gaming projects. Developers must balance fun gameplay with economic incentives to ensure sustainability.

Last updated 2 months ago