Is the “Play-to-Earn” Party Over?
Over the last 9 months, the Pocket Arena Team has been working hard to create a sustainable business model based on our gaming assets and blockchain tech assets. There are many debates and questions that ask if the Play2Earn model is really sustainable in the gaming market.
The Pocket Arena Team went through a substantial amount of trial and error due to the challenge presented by some players who sought to exploit our games and discourage other peer players. This left us busy patching the game SDK and updating our systems to prevent this exploitation. It was also noted that the methods of exploitation are getting smarter!)
In spite of the pitfalls of play-to-earn games, we still believe that they have a future if the NFT becomes the key facilitator of the metaverse and consists of various play-to-earn games with Esports features. Enabling and authenticating digital ownership of various gaming items, NFTs in combination with smart contracts, is a core facilitator of the transactional metaverse and play-to-earn games.
On top of this, equipping the marketplace for NFTs will be the key infrastructure allowing us to build a strong ecosystem for play-to-earn NFT games. The NFT marketplace for Pocket Arena will be running on our own L2 solution (Falk), which will be available for Web3 game developers and brands with no gas fee (except for the only 1% of the traded price for game developers & 1.75% of traded price for brands).
FALK — ETH/BSC supported layer 2 for game developers
Earlier this year, 2022, me and our tech team started to develop our own Ethereum L2 sidechain which also supports Binance Smart Chain via bridging. This L2 development has been implemented by our internal blockchain & security tech team under my architecture, design and control (all in-house).
So far, our latest achievement is that we have successfully tested the bridging between ERC721 and BEP 721 on our Ethereum test net. I have not encountered any ETH/BSC supporting L2 solutions in the current L2 market, which are optimised for game developers. Either Polygon for Opensea or ImmutableX for ERC-721 are used. Polygon is good for arts and collectables, but not optimised for Web3 game developers. Immutable X seems to be the best L2 for Web 3 game developers. The trading fee is a minimum 2% or higher. The biggest downside is that it supports only Ethereum and cannot be used for BSC-based Web3 games. In the current market, many P2E game projects are based on BSC. Therefore, half of the web3 games (maybe more than half) will not be covered.
Falk may become the first game developer-friendly L2 solution and service platform in the market that supports both ERC721 and BEP721. Another beauty of Falk is that there will be no minting-fee, no gas-fee, no set-up fee and no monthly fee (except for the only 1% of trading fee from seller), which will be especially welcomed by indie and small web 3 game developers. We also support the IPFS format as Token ID to verify the authenticity of the NFT. The game related properties for the corresponding NFT (such as the power level of the game item) will be transmitted via the Falk system to the IPFS and will be updated on a daily basis.
As an NFT-as-a-service platform, developer-friendly approach is essential. Emoji Games, as a long-time game developer since 2005, are aware of the common behaviours of game developers, so we are currently developing with a special focus on developer-friendly UI/UX (e.g., test mode, uploading/minting NFTs in bulk etc) and the Falk API which will be distributed to developers for free upon a simple sign-up.
Web3 NFT Studio for Brand
Big waves have been initiated by a few international brands that are preparing for Web 3 community building. Just a few days ago Starbucks unveiled Starbucks Odyssey, which is the scaled corporate project of building an NFT digital loyalty programme and building NFT community to engage with their members and partners. Recently I encountered a job posting by Addidas HQ in Luzern, Switzerland, seeking to hire a Head of Web 3 Strategy. Also, there is a big success story about the NFT project by the big department store (Shinsegae) in South Korea.
On top of our existing gamification studio for brands (www.brandedminigames.com), many of which have been used by international brands (e.g. BMW, KFC, Samsung, Kia etc), we are currently upgrading this white label DIY platform into a web 3 version. Both large and small brands can easily mint NFTs and provide their own customised NFT marketplaces and metaverse option by using our NFT studio. Thus, any brand can simply initiate their own web 3 projects by using our NFT studio with ease. Beta release is planned for Q4 2022.
Our L2 solution Falk would be the key component of the Pocket Arena ecosystem, expanding and offering for web 3 game developers and brands.
Falk will be firstly show-cased with our own games Castle Defence and Castle Town (PA casual games integrated), followed by worldwide web 3 game developers and brands. There are no limitations in the industry of brands for web 3 projects rendering it highly scalable. For the Pocket Arena ecosystem, we have been insisting only one token economy from the beginning — POC. There will be no second token for Falk.
The bear market has started already, early this year and there are lots of fears of a global recession, worse even than now. Bubbles popped out and lots of water (liquidity) drained in the swimming pool. The time is coming closer to find out who was swimming with a proper swimming suit for the web 3 journey and the wide extension of the POC ecosystem will be ready to go with the launch of Falk.
CEO, Emoji Games