What Would A Bear Market Do To A Game Token?
What Would a Bear Market do to a Game Token?
If you can’t read the entire article, here are what gamers, founders, investors, and the traditional gaming community can learn about SolChicks:
The current gaming industry: Blockchain games usher in the most prosperous period of the gaming industry. Many games built on the Ethereum or Binance Smart Chain Platform have recorded a great buzz and are welcomed by the gaming community.
Players’ benefits: The traditional gaming industry is worth about $336 billion. As gaming continues to outgrow on-demand entertainment, music, and film to be the most prominent media category globally, almost all the economic activities in the industry are centralized. This gives publishers and game developers exclusive rights to shape everything in the industry. The business use case benefits the few at the expense of the vast majority of players who have little or no say in the profit-sharing method from the sale of digital items, subscriptions, and in-game content. Things must change.
Incentivizing and Rewarding Players: The traditional custodial protocol of profit-sharing and ownership in the gaming world is on a transformative journey with the introduction of Play-To-Earn games. This new model enables players to own and earn digital assets that truly
are tradable in marketplaces or at the discretion of the players.
SolChicks to Dominate and Expand the Gaming Market: SolChicks is making a name as one of the fastest-growing P2E games on the blockchain. With adorable SolChick NFT collectibles, players can use their SolChicks as their characters in a unique gaming metaverse. In Particular, SolChicks allows players to collect, breed, and raise SolChicks landing on Solana.
What Would a Bear Market Do to a Game Token like SolChiks: Right now, the P2E gaming industry is growing unprecedentedly. As digital items increase in value, play-to-earn games will make the global economy adapt to its growth. This includes decentralizing assets and democratizing digital identity, and putting ownership into the player’s hands as the industry is decentralized. In essence, an NFT-Powered fantasy-P2E game like SolChicks will introduce new paradigms that unlock a unique variety of value creation and emerging digital environments, thereby enabling a decentralized convergence of digital and physical worlds.
Are we truly in a bear market?
If the global cryptocurrency industry enters a bear market, as many have predicted, it is easy to predict that the Play-To-Earn gaming industry will weather it successfully. NFT-based fantasy games are hitting a record high, and they continue to attract a lot of new gamers amidst the current dip in cryptocurrency prices. This raises the question, “why are people motivated to join the play-to-earn gamers even during a bear market?”. What is the motivation behind gamers flocking in millions every day to play these games?
As of November 2021, the total NFT market value valuation is 7 billion. This represents about a 20, 165% increase in the amount spent for NFTs from Q4 of 2020. However, the play-to-earn gamers are:
- Less than 2 million daily active users.
- Representing only 0.08% of the worldwide gamers.
- Leaving so much untapped potential and growth.
The answer then is natural, and it is that people not only want to have fun while playing but also want to be rewarded as gamers. These rewards are not only in-game results but ones that can be exchanged for cryptocurrencies or fiat with real-life values. For instance, Play-to-Earn games like SolChicks have experienced explosive growth in 2021 and are seen as a major source of income in developing countries. The future of work transcends blockchain-based financial products; it lies in the creator economy. SolChicks seeks to bridge the gap between gamers and developers by introducing distributed ownership to the global blockchain gaming industry.
Apart from giving gaming enthusiasts and gamers ownership and control over their in-game assets, play-to-earn games also allow them to increase the value of the digital assets attached to them while playing these games. This in-game economy is enhanced by the participants (gamers) in the ecosystem. Assets, ranging from cryptocurrencies, gaming tools, or weapons, can be sold as NFTs or tokenized on the blockchain. This reward mechanism and the ability to deliver long-term addictive entertainment for millions of global players prepare the game token economy for bear markets.
At first, many traditional gamers weren’t convinced they could earn life-changing rewards while playing games until the emergence of the game token. It demonstrates how revolutionary and life-changing crypto could be to an industry that was growing before the crypto bubble.
SolChicks: Defying the Odds
What will happen when a bear market hits blockchain gaming, a sector that hasn’t seen a downturn before? The most obvious answer is to look at SolChicks, the market leader whose vision is to be the fastest-growing P2E game built on the Solana blockchain. SolChicks’ vision is to be the fastest-growing play-to-earn game built on the Solana blockchain with real entertainment value. SolChicks want to recreate an MMORPG / MOBA game with real and proven entertainment value.
We are close to being plugged into a virtual economy, and everything wants to be linked with the Metaverse. The NFT Play-to-earn games and Metaverse are poised to be the greatest wealth creation opportunity that will change the gaming world and our society. SolChicks introduces a disruptive gaming model that rewards gamers for their time and commitment to the game by integrating gaming metaverse with amazing features.
This separation of gamers from blockchain enthusiasts is not unique, but Solchicks’s position is fraught with the natural battle of bull or bear in which the crypto market is embroiled. Solchicks not only has to appeal to two related customer bases; it also needs to appeal to two customers whose interests meet at the turning point of decentralization and entertainment. SolChicks is backed by investors and VCs like Goldentree, GD10, MetaVest Capital, and Spartan Group, including Yield Guild Games, while condensing such moneyed institutions into the hands of the common gamers makes Solchicks a “servant of two growing masters.” 2021 has shown that the gamer demographic has an interesting overlap with the early crypto adopters. There is an organic demand for player-owned in-game assets, and these are natural use cases for NFT games (at least in the case of Solchicks). A bear market will increase the appeal for players to make money in a GameFi token economy. The catalyst needed by the GameFi economy is high-quality addictive Blockchain games that gamers want to play and an experienced team that will make their tokenomics sustainable — Solchicks ticks all the boxes!
That Solchicks finds itself discussing growth in the bear market season is oddly a sign of its strength. No other Play-To-Earn game has played a leadership role in empowering the gamer’s community as SolChicks. If it is pulled by competition, that is only because it has set a standard with which other P2E games play their catch-up games. SolChicks comes with solutions and products beyond gaming — SolChicks is here to power realities.
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