Mirror World is the world's first AI-based crypto gaming ecosystem backed by VCs like FTX Ventures, Galaxy Interactive, and Republic Crypto.
We are aiming to help all game developers integrate blockchain more efficiently, easily, and cost-effectively.
GameFi Projects: How to be Resilient in Bearish Market
As we make our way toward the third quarter of 2022, we would like to share a few datasets for the GameFi market so far observed in the first half of 2022 according to data from Footprint Analytics:
During the past 9 months, GameFi market cap has declined from $20 billion to $5.6 billion. Meanwhile, we can see the BTC market cap has also declined from $900 billion to $445 billion;
GameFi active users have dropped from 42.63 million to 6.24 million since January 2022; GameFi trading volume has dropped from $3.13 billion to $0.18 billion;
From May 2022 to date, the number of StepN average daily unique active wallets for the headline program dropped from 33,000 to 0.6 million; BNB profit dropped from 30,000 BNB to 32 BNB and SOL profit dropped from 110,000 SOL to 1,405 SOL;
From Jan 2022 to date, Axie Infinity active users declined from 130k to 33k;
From Jan 2022 to date, Splinterlands active users declined from 380k to 188k.
Amid crypto market turmoil, most, if not all, of the GameFi projects have suffered. The data not only shows the instability of revenue generated by the GameFi market, but also the user growth challenge that most GameFi projects are currently facing. While some might see dropoffs in the market cap and declines in active players & users as red signs to enter this sector, there is actually a great opportunity to change the game.
However, the game-changing strategy that we are talking about here is not the Ponzi structure that was widely used by most of the projects, but building a mobile version of the game that can really grow your user base. Many successful projects, in terms of user acquisition and growth (such as Axie Infinity, Splinterlands, and StepN), have resorted to building games on mobile, and have rapidly expanded their user base.
We believe that GameFi+Mobile is the next trend in the GameFi industry, both in the current phase of Web3 Game development and in the history of Web2 Game. Here, let's take another look at the recent example from Web2 Game: Stumble Guys, the clone project to Fall Guys, is currently ranked #1 on the iPhone free game charts in the US and UK, and in the top 10 on the Google Play free game charts in both countries. Since its launch in October 2020, the game has been downloaded 163 million times and has generated over $21 million in revenue. Distinguishing itself from the Fall Guys' strategy, Stumble Guys has chosen PC as well as mobile from the start, completely capturing a market where Fall Guys has not deployed.
But even with this trend, we would like to point out that there are still some obstacles to the implementation of GameFi+Mobile:
The complex user onboarding process of mobile dApp: How to make a user with no prior blockchain knowledge experience a Mobile dApp without any friction?
The complex process of on-chain interaction on mobile dApp: How to create a user experience that doesn't feel complex at all?
Enough chitter chatter, let's get down to the 5 strategies to solve the above dilemma and increase your user growth in this market downturn.
5 User Growth Strategies That Actually Work
How to improve the onboarding flow for better conversion?
Players have to go through a series of tedious steps before entering the game. And there is also a very complicated cost of understanding for players who do not have any prior blockchain knowledge, which will lead to player churn. When the game allows login through players' familiar social accounts (e.g. Google, Discord, Twitter, Apple, Email, etc.), a cryptocurrency wallet is automatically tied to the user while logging in, which can help them interact with the blockchain in the game.
In-game limited assets and achievement system are the keys to direct player engagement with the game
In-App Wallet and the game's built-in marketplace make it easy for users to purchase NFTs or access other in-game assets and store them directly in their wallets, making the game experience both exciting and smooth. Creating a marketplace centered around your game where players can exchange these crypto assets directly into real-world currency will help make your game more engaging and participatory than having users jump to other pages in the game to use the existing NFT platform. Additionally, for new blockchain gamers, you can leverage your community to organize frequent airdrops of your in-game assets and host in-game achievement events to attract more players directly to your game.
Free-to-Play will be a player growth strategy you can't ignore
The common blockchain game mechanic of using NFT as a prerequisite to enter the game has some inherent user acquisition disadvantages:
Firstly, it limits the number of players who can experience the game, which of course can be solved by designing different Breeding mechanisms
Secondly, when the number of players or speculators grows and the number of NFT is limited, the price of NFT will rise, thus attracting many more profit seekers than real gamers. This situation will lead to a high percentage of speculators and exclude Web2 players. We believe that one of the strategies for blockchain games to generate more stable revenue is to lower the barrier to entry and expand the number of players in a F2P model. Further, the proportion of In-App Purchase can be increased by adding NFT Sell and trading to the game.
How to get more organic and natural traffic with a core SEO strategy?
One of the core elements of SEO strategy: keyword research will help you understand who your target users are, what they need, and what they are looking for in a product or service by identifying the terms they are searching for; keyword research can also help you identify the topics that people are most interested in in your industry.
This helps you provide content ideas that appeal to them and meet their needs, thus strengthening your brand's content strategy and leveraging more and better backlinks to increase your ranking in search engines and attract more users to bounce through the public traffic pool to your private website.
Research long-tail keywords that have:
Low-enough Keywords Difficulty to rank higher on SEO (<40)
High-enough Traffic Potential to receive traffic and impressions once it is ranked high on SEO (>5000)
Recommended tools：
How to ensure accurate and efficient delivery of messages and use of player behavior data?
Email marketing allows you to have a stronger and more precise one-to-one connection with your target audience. Sending relevant game announcements, press releases and other information builds trust and increases brand credibility.
First, collect as many players' email addresses as possible through contests, questionnaires, whitelists, and playtests. Next, create informative and attractive articles or announcements and send them regularly to ensure that interested players are the first to know all the information about your game in detail. Finally, through the continuous collection of player behavior data combined with the tracking tools of on-chain and off-chain data analysis, the tracking of on-chain data, including asset transactions, transfers, and players' off-chain game behavior data can help more than imaginable for game content iteration and economic system simulation.
Cross Platform SDK Offer
Mirror World provides SDKs for Android, iOS, Unity and Web that eliminate the complexity involved in Authentication, NFT Marketplace Trading, Tokenization, on-ramp and off-ramps for consumers. This allows Mobile developers to focus on building their own applications and easily integrate the best of Web3 into their Gaming, DeFi, and NFT applications.
With a market cap of only about 4% of the gaming industry, GameFi is still in its infancy, which means you can still take over the market quickly with the right, effective user growth strategy and a more user-friendly, smooth player experience.
As you focus on developing killer crypto games, we want to help you improve your player experience as much as possible by providing content on user growth strategies, economic model consulting, and blockchain technology integration SDKs. We have successfully launched two Open Beta tests of our own blockchain games with active player participation and experience scores of over 8, and can seamlessly complete the process for you.
Schedule a call with our experts today! Looking forward to discussing more of our user growth experiences and approaches with you!
MORE TO EXPLORE: