Simon Sun from Laplap identified the key factors for the success of GameFi.
Crypto gaming has grown in popularity as it enables gamers to collect and trade virtual assets that can be exchanged and traded anywhere in the world. Laplap, a new generation GameFi players’ guild that proposed a unique “publish to earn” model, believes the future of GameFi depends on communities that fascinate, educate and coordinate common players.
Ongoing innovations in blockchain technology, cryptography, and tokenization have enabled gamers in GameFi to play games for a living. These constant innovations have proven that games are not just collections of intangible numbers, but can also represent real monetary value.
According to Simon Sun, European Marketing Director at Laplap, organizations that help attract gamers to GameFi have played an important role in GameFi’s thriving.
“The emergence of organizations like Yield Guild Games (YGG) helped make GameFi a reality for ordinary people. In order to participate in P2E games, players need access to in-game NFTs, which some people cannot afford. YGG compensates for this limitation by offering community support and scholarships to promising players, ”said Simon.
YGG’s approach
Simon explained the business logic behind YGG’s success.
“What YGG did in the beginning was easy. For the game Axie Infinity, YGG proposes a project to rent assets in the game. Players can rent three NFT tokens from 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% will go to union managers, ”said Simon.
“In this process, YGG not only benefits in reality from the growing player bases, but also benefits from the virtual world of GameFi, where they were constantly acquiring virtual assets. ”
Although YGG has found its way into making the most of its community-owned assets and rewarding all token holders, Simon believes there is still great growth potential for gaming communities.
“We believe this profit-sharing model could continue to solve some of GameFi’s problems. The empowerment of gamers in the future will dramatically change the current power distribution system in the gaming industry. “
Simon expects that in the future the community will not only have the power to determine the distribution of token rewards to the owners, but also to influence the development of the games, for example by encouraging the Gamefi provider to develop more complex game mechanics, which allow more players to play in order to earn.
The prospects from Laplap
Laplap is building a web3 player ecosystem focused on Gamefi with player-generated content and SocialF to integrate Gamefi and SocialFi with an original publish-to-earn approach that Simon says will lead players to the latest Gamefi Discover projects and participate in them.
“In addition to the play-to-earn model, we also enable users to participate in the introductory phase of GameFi projects by voting based on the playability of each game. After the game is released, community members can continue to make money playing the game or contributing to the development of the game, for example by running promotions, giving advice or voting, ”said Simon.
“The future of GameFi depends on the communities that fascinate, educate and coordinate ordinary gamers, and that is exactly what we are trying to do. Our goal is to close the gap between GameFi providers, the community and the normal player, ”said Simon.
The unequal relationship between large investors (so-called “whales”) and average gamers has long been an issue at GameFi. However, Simon emphasized that Laplap will solve this problem through its unique “publish to earn” model. The whales can get a portion of the revenue players earn throughout the startup process by holding the guild NFT and investing in the early stages of the game. You no longer need to ditch 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 would soon become the gateway to Metaverse for ordinary people. Players will no longer be the exploiters of traditional game companies, but rather the builders of the community, the managers of DAO, and the shareholders of the revenue generated in the GameFi metaverse.
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