Community + Technology + Utility: A Combination For Long-Term Success In The NFT Gaming Space
Countless innovative NFT projects have started entering the market which we have observed as a fuel for change in paths to decentralisation. A large portion of these projects also happen to be focused on gaming and its expansion to more ownership-based digital worlds.
Despite the high levels of growth in NFTs and decentralised gaming that we see today, it would not be wise to state that most of them will keep accelerating. The majority of these projects might not survive for numerous reasons, but today’s thought leaders in the space believe that some of the most prevalent ones are lack of community, utility, and sustainable technology.
With the above in mind, what are some ways such NFT projects could take advantage of the three factors that often determine the quality and success moving forward? Firstly, the fundamentals on which each project is built must be considered — if demand, uniqueness, ethics, and value for the user are taken into account.
A determined, ambitious SparkWorld* team, with years of expertise in the NFT space, has arrived to dive deep into the intricacies of NFT projects’ operations and potential upside through the adoption of more traditional infrastructures such as gaming, the very space we shall begin with.
The Rise Of NFT Gaming
The popularity of NFT games is accelerating, with companies like Axie Infinity, Decentraland, and Sandbox pushing new decentralised narratives and acquiring ardent armies of players along the way. The mainstream gaming industry is undoubtedly taking note of this, and mass adoption of NFTs through accessible, fun activities, appears to be coming ever closer, with gaming looking set to become the primary on-ramp for the industry.
Accessibility and seamlessness can hardly be achieved without considering people’s needs and wants. However, consideration alone can’t build terrific ecosystems that thrive because some key elements are required to do this as it might be that the success rate of many NFT projects will drop. At SparkWorld*, we, a team of dedicated enthusiasts in the NFT environment, believe they are: community, technology, and utility — without them, neither growth, innovation, or proper use cases can be developed for such emerging markets as the one of NFTs.
Community is the force behind one’s trust and expansion — values that mean the most to a team that might have the technology but not adoption. The network effect always occurs, whether it is of positive or negative outcomes, and “word-of-mouth” referrals are the leading chess piece of any industry’s success.
With a community, one can sense the level of belief from the ecosystem participants, acquiring a clearer picture of what direction to take in the future.
The team at SparkWorld*, being, enthusiasts ourselves, dedicated to the cause of fairness, try to encourage others to build communities, and are starting to do it extensively ourselves.
Technology is the trickier part of the equation. In business, it is one of the most crucial yet most difficult to create user experiences that would not need replacement in the near future.
Below the user experience blanket lie the inner mechanisms that make the gears of any ecosystem turn, and wrong configurations of them can lead to a painful experience everyone must deal with.
Technology is the epitome of innovation and the path forward for our society and wishing to build more decentralised systems. Many projects have started relying on better optimised and promising platforms like Avalanche living on the AVAX blockchain, designed for performance and lower gas fees than the alternatives have — chain and ecosystem decisions matter a lot.
The type of technology optimisations a decentralised project does, if at all, determines how long the infrastructure could be sustained, and where the still undiscovered opportunities lie. NFT projects, especially those gaming-focused, should always thoughtfully consider the infrastructure they choose in such ways that their mission and values do not go extinct.
The implementation of new concepts, ideas, and learning, are essential parts of an NFT project’s process which is sometimes painful, but in the end, technology focus is oftentimes the best thing one can do when trying to create new things from scrap metal.
Utility incorporation is another factor to focus on that can increase one’s chances of success in the competitive decentralised NFT environment that we visit every day.
Whilst the majority of crypto and NFT projects largely focus on producing scarcity and capitalising on the fact that they are at the top of the distribution pyramid, the outliers matter the most.
Outliers, in this case, are the projects with their full attention on the use and impact of the technology they are building. Of course, one can sit around looking forward to seeing the value of an asset increase, but we should hope that most people wish to see how the product or service can be practical to them on a daily basis and enrich their experience.
Gamifying The Creation Of Value
It is difficult to create new types of value when the incentives are largely monetary. What matters in the extravagant decentralised ecosystems that numerous projects are building, is fun and user engagement through gamified activities that push fairness and distributed excitement forward.
However, new value creation can oftentimes be difficult to achieve when one is not considering the problems to be solved in order to have this value build up.
With the increasing number of projects interested in the development and production of NFT gaming solutions for access, interactivity, and fairness, the three crucial elements mentioned above are things that value creators should start implementing extensively. Community, technology, utility are some key focus areas that could be solved to create new sorts of value, along with:
- Lack of users’ trust in fair allocation of digital assets by enabling access to prediction mechanisms for everyone
- Gas fee wastage, unnecessary structures and incentives by not allowing false project starts, algorithmically eliminating gas fees through allocated rewards
- NFT project anonymity and lack of transparency by conducting due diligence internally and in the future, allowing the community to help make decisions
Community helps projects accelerate, engaging in a gamified fashion; technology acts as the foundation for the tokenomics and on-chain logistics structures that make up the ecosystem; utility ensures that no participant will ever be stuck in a no-action loop waiting for something positive to happen.
In the curious case of gaming and NFT acceleration, our explorations reach a conclusion which states that once the three characteristics — community, utility, technology — get implemented extensively, the underlying project almost loses its traditional “project” status and becomes something-of-a cultural phenomenon, a value creating organisation not following the traditional path, something truly special, an equilibrium that could be meant to belong on the SparkWorld* marketplace once it launches.
Where The Future Of NFT Gaming Leads
New inventions in NFT ecosystems have delivered the ability to address and solve issues like unfairness, false starts, and no transparency, through the use of one of the most advanced on-chain mechanisms — Fair Predictive Launches (FPLs). The FPL proposition, at its core, is about bringing more fair launch allocations to the NFT market that will recreate the decentralised environment in such a way that no member is left behind.
For example, on the SparkWorld* platform, the emerging gaming projects will be able to properly and adequately distribute the NFTs they produce, receiving fair allocations of capital. At the same time, the users of the platform — NFT gamers & enthusiasts — will get to predict further behavior, earning yields and NFTs, creating a fun and engaging environment for all.
The future of fairness, access, and transparency is closer to the gates of DeFi by the day, and there haven’t been better opportunities and time to tackle the negatives, whether one is a gaming project, researcher, or individual. We, a strong team of community-focused and technical thought leaders, welcome both gaming and NFT communities, and every other enthusiast, to join or partner with us in order to build terrific mechanisms for the future of decentralisation and digital freedom.