8.1 The World's First GAMEFI & Metaverse

iGAMES is constructing a genuine virtual society driven by games, commerce, users, and data. We are breaking away from the old world's allocation rules, redefining GAMEFI and the metaverse, and achieving the privatization of user data value.

From 2021 to the present, both the play-to-earn core of gameFI 1.0 and the x-to-earn core of GameFi 2.0 have enjoyed their moments of popularity. However, whether in the single-token model or the dual-token model, both versions of GameFi eventually entered a "death spiral."

From the perspective of the history of gaming development, the "Nugget-making model" is indeed a remarkable innovation. Yet, it hasn't effectively addressed the issue of "where the money comes from," inevitably leading to a scenario of "early players making money, late players losing money." This severely disrupts the ecological balance of the game, resulting in an inevitable short lifecycle. Most game developers have recognized this problem and attempted various approaches, such as the "three-token model," "low-return, long-cycle Nugget-making model," and even the elimination of the "Nugget-making model." However, these incremental innovations haven't tackled the fundamental issue, merely postponing the eruption of the problem.

iGAMES, forged with the blessings of higher powers, has embarked upon a profound journey, delving into the depths of contemplation. In light of the aforementioned analysis, iGAMES endeavors to transcend mundane limitations and emerge as a formidable force, dedicated to offering viable solutions.

What should GameFi 3.0 look like?

Interoperability Across Blockchains: GameFi 3.0 will further drive interoperability and compatibility between different blockchain networks. Players can freely move and trade virtual assets across various games and platforms, regardless of the underlying blockchain.

Social Engagement and Multiplayer Interaction: GameFi 3.0 will emphasize enhancing the social and multiplayer aspects of games. Players can cooperate, compete, and interact with others, creating a richer and more engaging gaming experience.

Real Economic Impact: GameFi 3.0 will reinforce the connection between virtual economies and the real world economy. Players can earn real currency through economic activities within games, and virtual assets can have broader applications and value in the real world.

Decentralized Autonomous Organizations (DAO) Applications: GameFi 3.0 will extensively apply the concept of Decentralized Autonomous Organizations (DAO). Players can participate in the governance and decision-making processes of games, collectively shaping the game's development direction and rules, achieving a more fair and democratic gaming ecosystem.

Enhanced Interactivity and Immersion: GameFi 3.0 will leverage advanced technologies (such as virtual reality, augmented reality, blockchain interactions, etc.) to enhance game interactivity and immersion. Players can engage more deeply in the game world, gaining a more authentic and realistic gaming experience.

Brand and Cross-Industry Collaborations: GameFi 3.0 will encourage game developers to collaborate with brands from various industries, fostering opportunities for cross-industry partnerships. For instance, collaborations with artists, musicians, sports stars, etc., can introduce real-world elements into games, enriching game content and experiences.

Can iGAMES provide the funding for Nugget-making?

iGAMES is committed to providing players with innovative gaming experiences and economic models to ensure they receive meaningful returns from their gameplay.

iGAMES provides a series of mechanisms that give players the opportunity to obtain financial returns by participating in the game. The Play To Earn mechanism allows players to earn tokens or other encrypted assets by completing tasks, challenges or other in-game activities. Such a design enables players to convert their time and effort into real economic value.

In addition, iGAMES also has a reward and revenue mechanism related to platform tokens, providing players with additional revenue opportunities. By holding and using platform tokens, players can enjoy unique rights and benefits, including participating in platform governance and sharing platform revenue.

However, the exact form and amount of money returned will depend on player participation, market factors, and the rules and mechanics of the game's internal economy. iGAMES encourages players to actively participate in the game, understand and use various opportunities provided by the platform to gain rewards.

iGAMES will continue to work hard to innovate and improve our game and economic model to ensure that players can enjoy meaningful financial returns. At the same time, players are welcome to provide feedback and suggestions to help continuously improve the experience and value of iGAMES.

How to connect project developers and precise users through business model innovation to achieve a win-win situation?

Provide value-driven products and services: Ensure that project developers provide valuable and attractive products and services that meet user needs and solve their problems. By understanding users' pain points and expectations, project developers can create attractive products and connect with precise users.

Data-driven user insight: collect and analyze user data to understand user behavior, preferences and needs. This can provide project developers with insights into user behavior and trends, helping them better understand users and provide personalized products and services.

Community building and interaction: By building an active community, project developers can connect with precise users and promote interaction. This can be done through social media, forums, chat groups, etc. Project developers can communicate with users, share the latest developments, answer questions, collect feedback, etc., and establish a solid user relationship.

Personalization and customization: Provide personalized and customized products and services to meet the specific needs and preferences of users. By understanding the individual needs of users, project developers can provide customized solutions to increase user satisfaction and loyalty.

Two-way incentive mechanism: establish an incentive mechanism so that project developers and users can benefit from each other. For example, project developers can provide users with rewards, rewards or privileges by introducing a token economic model to incentivize them to participate and promote the project. At the same time, user participation and contribution can also bring growth and value to project developers.

Partnerships: Establish partnerships with partners in related industries to expand the project's influence and user base. By cooperating with partners to carry out activities such as marketing promotion, resource sharing and user sharing, the coverage of users can be expanded and the participation of users can be increased.

How to help more traditional gaming developers make the switch to GameFi?

Provide education and training: conduct training courses, seminars and workshops for Web 2.0 developers, introducing Web 3.0 concepts, technologies and tools. This can help them understand the fundamentals of blockchain, decentralization, and the crypto-economy, and acquire relevant development skills.

Provide easy-to-use development tools and resources: provide Web 2.0 developers with simplified and easy-to-use development tools, frameworks and documents to help them quickly get started and start application development in the Web 3.0 environment. This can lower their barriers to entry and speed up their transition to Web 3.0.

Promote cross-platform interoperability: Provide cross-platform interoperability and integration solutions, enabling Web 2.0 developers to more easily connect and integrate their existing applications and technologies with the Web 3.0 ecosystem. This reduces their cost and effort to develop from scratch.

Providing Incentive Mechanisms: Offer incentive mechanisms to encourage Web 2.0 developers to enter the Web 3.0 space and actively participate. This could involve providing development rewards, project sponsorships, startup accelerators, and other forms of support, ensuring that they feel tangible returns and assistance during the transition.

Establishing Collaborative Relationships and Ecosystem: Forge partnerships with the Web 2.0 developer community, tech companies, and entrepreneurial ecosystems to collectively drive the development and application of Web 3.0. Accelerating the involvement of Web 2.0 developers and fostering the prosperity of Web 3.0 can be achieved through resource sharing, collaborative project development, mutual support, and facilitating communication.

Showcasing Success Stories and Role Models: Present successful Web 3.0 projects and application cases to demonstrate opportunities and potential within the Web 3.0 domain to Web 2.0 developers. This can be achieved through events, articles, speeches, and other avenues, sparking their interest and encouraging them to explore new domains and innovations.