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NFT project development | NFT, game developer's Guide

Time : 09/11/2021 Author : 7o0zgu Click : + -
        When the digital currency of the game becomes a publicly traded token, and NFT is customized and developed, and the game object is completely owned by the player as NFT, how much does it cost to develop NFT? A brave new world of game development becomes possible. How to optimize NFT? Next, we will explore how blockchain technology provides so much potential, NFT project development, and how to start building a framework to integrate NFT into games, NFT product development company. For the purpose of this article, we assume that these problems will be solved over time &mdash& mdash; And use this time to understand the technology and its functions, and start building blockchain strategies for the game.
        We need to start from now on, so that when these problems are solved, we can be ready for the inevitable wave &mdash& mdash; This wave is as revolutionary as the free game innovation that swept game development a decade ago. This will be the wave of blockchain. The problem with paradigm shift is that you have to start from scratch. It took a long time for traditional game studios to transition to the free mode, because it is the opposite of the knowledge built around AAA games for decades. With blockchain, we start from scratch again. This is the eternal curse of game development &mdash& mdash; You feel too old because everything is new.
        Blockchain technology and NFT have created an order of magnitude of complexity for managing the game economy. It also provides unprecedented opportunities for game developers. Any game object owned by the player &mdash& mdash; Any item, role and achievement in their inventory can be represented as irreplaceable tokens (NFT) on the chain. Irreplaceable is a strange way to say "not interchangeable". A $10 bill can be replaced by another $10 bill, and no one cares &mdash& mdash; It is still the representative of $10 &mdash& mdash; Although there are slight differences in the serial number, printing date and wear degree of banknotes.
        You can have duplicates, but they are not interchangeable representations of the unit of account. Those unique attributes &mdash& mdash; Serial number, printing date and wear are more important. Every object placed on the chain is persistent and truly owned by the wallet owner. In the game, these objects are practical &mdash& mdash; After all, it is a game object. This object is not stored in the game database, but on a completely decentralized blockchain. Outside the game, NFT is valuable. Like baseball cards, these tokens can be exchanged into money or physical transaction cards on campus.
        Utilities in the game provide you with a basic level of value, but the maximum value may be much higher &mdash& mdash; The price it sets in the secondary market. This shift to real ownership of game objects, coupled with the ability to connect these owned objects to the dynamic market, is the root cause of NFT's so revolutionary. In the article about arm game design theory, community driven marketing, re participation activities and long tail monetization are listed as the three pillars of a successful free game business. NFT is the Holy Grail of these three points. In contrast to the game features that cause tension between each other (think about the problems players have with the "pay for victory" game mechanism), NFT maximizes and strengthens each pillar.
        The growth of free games depends largely on the acquisition cost of players. The vast majority of new users entering the game are purchased through auction in the highly competitive market &mdash& mdash; The price is absolutely crazy. The acquisition of new players is so important that developers calculate the lifetime value of each player. The profitability of your game requires the total LTV to be greater than your acquisition cost. Therefore, organic growth is one of the priorities of the game studio marketing department. If you can get users without paying directly for each installation, you can avoid one of the largest single sources of game operating costs. NFT provides the largest organic growth opportunity in more than a decade.
        NFT has real and tradable value and is truly owned by players. This creates a strong impetus for players to increase the value of NFT. A single user advertising your game may not have the same impact as a million dollar advertising campaign tracked, but any new users obtained in this way are basically free (from a marketing perspective). In terms of scale, this can promote a certain degree of self-sustaining organic growth. For content creators and influencers, targeted NFT delivery can bring a win-win situation for your game and content creators. Imagine a scenario where you create a limited edition NFT containing 100 NFTs.
        You provide these 100 NFTs to content creators to use at will. A smart Creator will create content activities for NFT. Competition, participation in lottery, VIP community rewards, etc. They are committed to developing their own brand, and your brand is in the leading position. This outsources your marketing in a very cost-effective way - as long as you manage your NFT economy wisely (the topic of future articles), you can achieve a very attractive return on investment for this marketing strategy. For marketing, NFT creates passive incentives for your users. Incentive structures like this can create fomo for your games on a large scale.
        The most powerful is that NFT allows marketers to design fomo events by participating in activities. The secret of longevity lies in the real-time operation of the game. New content is constantly released for specific player segments to keep the program going. A strong on-site operation team can make the revenue and number of players of free games reach the highest level in history several years after their first release. The key to a successful real-time operation team is how to publish new content. How you release new narratives, game assets and functions; It is crucial for the successful operation of live games. When you own an NFT owned by players and attach a predetermined in-game reward to the NFT, you have a very powerful retention mechanism.
        Those passive incentive structures that your marketing department can use can also be used for your liveops team. For this team, encouraging players to log in to the game every day is a major event. When you change the state of NFT with enough in-game activation, things really start &mdash& mdash; If players activate NFT every 24 hours within a month, NFT will upgrade and start to provide better rewards every 24 hours. When all your players have this type of NFT, tell me your d30 retention rate. Even if some users log in to the game just to resell the upgraded NFT in the secondary market, you have 30 opportunities to attract these users to other functions of your game &mdash& mdash; Not to mention their sales revenue.
        This does not mean that players can access content in advance based on NFT or exclusive content owned by them. With the rise of rare curves, these NFTs can be associated with governance (the ability to provide design and feedback, and even development access) &mdash& mdash; Grant read permission to the code base. NFT can do all this. They provide a unified mechanism to define the relationship between players and games. You will be paid every time NFT changes hands. NFT exists in the chain, so it can be traded as digital currency. The smart contract that forms the basis of NFT allows you to write very specific rules for what happens when a transaction is executed.
        This enables you to get a percentage of all transactions in the secondary market. Throughout the life cycle of NFT, you will be paid for every transaction. Consider again the marketing strategy of giving 100 limited edition NFTs to content creators:. Because these NFTs are traded in the secondary market, you can get a part of the revenue from each sale. Can you think of how many marketing activities can provide a direct source of income?. How much can you think of that can generate income in the long run? Because you get paid for every transaction of NFT, developers can plan for a longer period of time than ever before throughout the life cycle of NFT.
        This means that your participation activities and marketing strategies can also be designed for a long time. These functions and incentives that are so attractive to marketers and liveops are based on the increase of real monetary value. Users are rewarded by working to increase the monetary value of their items. Developers will be rewarded for the work they put into and the sale of these items. This is why NFT can become such a powerful tool if developers use it correctly. They create feedback loops to attract, retain, and reward players. Irreplaceable tokens and digital currencies are undoubtedly a revolution in the game industry.
        The function of this technology allows you to create a community driven marketing strategy, which is directly related to your content participation activities, and can make long-term profits. In the next article, we will further explore the deeper impact of NFT &mdash& mdash; How they change the staffing and management of game studios. We will investigate some anti patterns and risks in managing the NFT economy. We will also study the digital currency itself &mdash& mdash; The meaning of converting your in-game currency into real-world tradable currency. The good news is that time is on our side. The blockchain industry still needs to mature in order to stabilize the technology and make the transaction cost return to zero.
        Once the stage is set, smart developers will be able to take advantage of the amazing opportunities offered by blockchain. Those smart developers are starting now. They are experimenting with these systems, understanding technology, and developing integration strategies. When the inevitable waves come, they will be in the water and ready to surf BIGone.
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