Simon Sun from Laplap elaborated the key factors for success of GameFi’
Crypto gaming has grown in popularity due to its ability to allow players to collect and trade virtual assets that can be exchanged and traded anywhere in the world. Laplap, a new generation GameFi player guild that proposed a unique “publish to earn” model, believes that the future of GameFi relies on communities that intrigue, educate, and coordinate ordinary players.
Ongoing innovations in blockchain technology, cryptography, and tokenization have made it possible for players in GameFi to play games as a livelihood. These constant innovations have proven that games are not only collections of intangible figures but can also represent real monetary value.
Organizations that help to attract players into GameFi have played an important role in the thriving of GameFi, according to Simon Sun, the European Marketing Director at Laplap.
“The emergence of organizations like Yield Guild Games (YGG) helped GameFi become a reality to ordinary people. To participate in P2E gaming, gamers need access to in-game NFTs, which some people cannot afford. YGG offsets this limitation, providing community support and scholarships to promising gamers,” Simon said.
Simon explained the business logic behind YGG’s success.
“What YGG did at first was simple. For the game Axie Infinity, YGG proposes an in-game asset rental project. Players can get three NFT game characters rented by YGG to start the game. After that, 10% of the tokens earned by the three characters in the game will be given to YGG, 70% will be kept by the players, and 20% goes to union managers, ” Simon said.
“In this process, YGG not only benefits in reality by the growing player’s bases but also benefits in the virtual world of GameFi, where they were constantly acquiring virtual assets.”
Although YGG has made its way by leveraging its community-owned assets to their maximum and rewarding all token holders, Simon believes there is still great growth potential for player communities.
“We believe this profit-sharing model could continue to solve some of the problems in GameFi. The empowerment of players in the future will dramatically change the current power distribution system in the game industry.”
Simon expects that in the future, the community will not only have the power to determine token reward distribution to holders but also will be able to Influence the development of the games, like encouraging the Gamefi vendor to build more complex gaming mechanics that allow more players to play to earn.
The Outlook of Laplap
Laplap is building a Web3 player ecosystem focused on Gamefi with players generated content and SocialF, aiming to integrate Gamefi and Socialfi with an original publish-to-earn approach that leads players to discover and participate in the latest Gamefi projects, according to Simon.
“Besides the play-to-earn model, we also allow users to participate in the launching stage of the GameFi projects by voting based on the playability of each game. After the game is released, community members could continue to earn by playing the game or contributing to the development of the game in ways like helping to do promotions, give advice, participate in the voting,” Simon said.
“The future of GameFi relies on the communities that intrigue, educate, and coordinate ordinary players, and that’s what we’re trying to do. We aim to bridge the gap between GameFi vendor, the community, and ordinary player, ”Simon said.
The unequal relationship between big investors ( So-called “whales”) and average players has long been an issue in GameFi. However, Simon stressed that Laplap will solve this problem by its unique “publish to earn” model. The whales can get some of the revenue players earned through the whole process of launching by holding the guild NFT and investing in the early stage of the game. They no longer need to dump tokens when the price of in-game tokens is high, which makes the ecosystem more stable.
Simon believed that with the efforts of a group of game guilds, GameFi will soon become the entrance to Metaverse for ordinary people. Players will no longer be the exploitees of traditional game companies, but the builders of the community, the managers of DAO, and the sharers of the revenue created in the GameFi metaverse.