Entity GameFi: Opening the Gates for Web3 Mass Adoption
Entity is all about enhancing the MultiversX ecosystem and kickstarting mass adoption of Web3. Since the GameFi sector is critical to achieving these goals, the Entity Launchpad will support innovation and growth in the exciting new world of decentralized gaming.
It’s still day one for GameFi
GameFi is potentially one of the largest use cases for blockchain technology. The power to own part of your favorite games and enjoy full custody over your digital assets is truly revolutionary.
However, there are only around 800,000 active Web3 gamers out of about 3 billion total gamers worldwide. So, how come more players around the world haven’t joined the GameFi movement already?
Here are a few of the current roadblocks:
- Many Play to Earn (P2E) games have repetitive gameplay that is more about grinding for tokens than delivering a truly fun gaming experience
- Non-crypto natives can be afraid of the learning curve or initial costs
- Not enough P2E games leverage the power of Web3 in imaginative ways
With proper support and a powerful blockchain like MultiversX, the time is right for builders to conquer these obstacles.
MVX: the place to build
MultiversX is a great place to build GameFi projects for many reasons, including its scalable infrastructure, true ownership of NFTs, metadata capabilities, low fees and lightning-fast transaction speeds.
To help GameFi become more popular with gamers around the world, the MultiversX ecosystem needs innovators with their own fresh ideas, dedicated teams and strong business plans.
GameFi doesn’t need to just be Web2 gaming with tokens and NFTs tacked on. Blockchain technology opens up a wide range of radical possibilities and are a great place to experiment with new technology such as VR and AI.
Entity is here to help these brave pioneers.
Level up with Entity
Among other focuses like DeFi, GameFi is a core part of Entity’s comprehensive mission to open the gates for Web3 mass adoption.
The Entity Launchpad and Launch Pool will help kickstart high quality blockchain gaming projects that can potentially onboard a large amount of users to MultiversX. These launches will help scale the ecosystem while also generating significant long-term value for the Entity community.
In addition to providing a fully compliant launch platform, Entity will empower GameFi builders with important resources and incubation. Entity will also offer specialized tools to help builders grow their player base and reward gamers for helping test their products.
All GameFi projects building on MultiversX can potentially benefit from other Entity modules, such as hosting LDM sales to access more liquidity and diversify their treasuries. The community can already get a data-driven overview of Web3 games from the ecosystem on the Entity Project Monitor. Additionally, other modules like the Entity Staking Farms will offer a unified interface for users to earn passive income from their favorite projects alongside next-level analytics and charts.
Overall, Entity is here to help dedicated GameFi builders grow their communities and tap into the vast potential of Web3.
Choose your character
Although the Entity Launchpad is still fueling for launch, there are already some shining examples of GameFi projects throughout the ecosystem.
xLaunchpad (formerly Maiar Launchpad) is no stranger to GameFi. Holoride and Cantina Royale are both great use cases for MultiversX, with holoride focused on building a virtual reality ‘Motorverse’ while Cantina Royale is creating an addictive arcade-style shooter.
Several MultiversX GameFi builders are working on immersive world building and stunning graphics. For example, Age of Zalmoxis, Project Red and Cyberpunk City are each building unique games that have the potential to drive waves of new users to the network. Vampire Wars is pushing the idea of world building to the extreme, with the entire planet Earth becoming a virtual vampire hunting ground in their upcoming game.
Another way that GameFi projects are innovating is by pushing the limits of what is possible in Web3. Giants Village is creating a truly on-chain experience by using smart contracts and tokens in creative ways. Other builders like Gnogen are leveraging MultiversX’s metadata capabilities to develop gameplay mechanics around each NFT’s unique attributes.
No matter how your project is pushing the boundaries of GameFi, it’s important to make sure the game itself offers a fun experience. Knights of Cathena (KoC), for example, has developed novel game mechanics that are highly engaging. Rather than mindlessly farming for tokens, KoC is like a supercharged version of chess where players must carefully strategize every move to conquer opponents in a multiplayer fantasy world.
These examples are just the tip of the iceberg, with several other solid GameFi projects building on MultiversX such as WAM, Krogan, Aquaverse, and more.
Cheat codes for success
Let’s be clear- building a Web3 game isn’t easy.
Founders must overcome a range of hurdles, such as hiring the right game developers and marketers to stand out in an increasingly crowded field.
If you are thinking about starting a GameFi project, here are some tips to maximize your chances of success and help catch the attention of Entity:
- Make your onboarding process as simple as possible
- Leverage the possibilities of the blockchain in innovative ways
- Offer robust rewards to attract Web3 enthusiasts
- Make sure your core game mechanics are fun and engaging
- Develop a community-driven experience, since multiplayer modes and exposure on platforms like Twitch are important for adoption
- Focus on security and bot protection to ensure a level playing field
- Build a unique world with vibrant storylines, graphics and characters
Overall, it’s important to balance the most beloved elements of Web2 and Web3.
Building GameFi products that are the best of both worlds will be crucial for making blockchain gaming a mainstream hit around the globe.
Press start to play
GameFi has massive potential to onboard more users to Web3 and generate large amounts of new on-chain activity. Converting crypto-skeptical gamers to play blockchain games, however, is no easy feat.
Thankfully, Entity’s Launchpad and suite of next level Web3 tools are here to help bridge the gap between traditional gaming, GameFi, and the metaverse.
Does your gaming project have what it takes to launch on Entity? Submit your startup today to be considered for one of the first Entity launches!
Countdown to launch
Whether the first Entity Launchpad projects are from DeFi, GameFi, or beyond, we are confident that these launches will bring deep value and increased adoption to the ecosystem.
To stay up-to-date with our latest announcements, make sure to join the Entity Community on Twitter and Telegram and subscribe to Entity’s Official Newsletter.
Enhancing the MultiversX Ecosystem
Entity is a Launchpad and suite of cutting-edge tools for Web3 builders and investors. Entity is focused on catalyzing growth in key areas such as DeFi, GameFi, NFTs and real-world blockchain applications.
MultiversX is a highly scalable, secure and decentralized blockchain network created to enable radically new applications, for users, businesses, society, and the new metaverse frontier.
