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From creating e-sports competitions with huge prize pools to making game tokens more relevant to holders, members of the community share their thoughts on GameFi.
As the GameFi space continues its journey to attract gamers to a new gaming paradigm, community members shared their takes on what they think a mature GameFi project needs to succeed.
One Redditor suggested that GameFi projects need to appeal to several target audiences, including whales, who will provide funding; earners, who are mostly kids and people from developing countries; and those who play for fun, who will leave good reviews for the game.
Another community member pointed out the need to improve the reputation of the space. According to the Redditor, some consider GameFi a scam — and this needs to be changed. In addition, the community member also highlighted that it would help if GameFi projects held e-sports competitions with high prize pools as rewards.
Meanwhile, one user said that a matured GameFi project must have a way to make its token relevant for gamers. This suggests that further use cases must be added. In addition, the user also suggested integrating decentralized finance liquidity mining for the tokens.
Going back to the basics of gaming, another community member believes that the most important factor GameFi projects should focus on is making the game fun and engaging, which will make users come back “day in and day out.”
Related: Big Time and other Web3 games take home the gold at the inaugural GAM3 awards
While some gamers may be against GameFi, a recent survey showed that some are willing to play more blockchain games if they are given opportunities to earn cryptocurrency, such as Bitcoin (BTC). The survey also showed that more gamers are interested in earning BTC while playing than earning nonfungible tokens.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.