Launch during the bear market — why we’re OK with it
According to the recent negative hype, one might conclude that launching a blockchain game during a bear market is unwise. However, opportunities exist during a market downturn, and we at BoomLand can leverage them with the right strategy. Let’s explore more.
What is a Bear Market?
A bear market is when stock/token prices drop by decent percentages from their recent highs. Investors lose confidence, and people start feeling pessimistic about the economy and the market. Capital investment can slow down, and the media spin hype about crypto scams and hacks. Some individuals and companies may lose significant money and go bankrupt. Confidence in the market can reach a low.
Is it a Crypto Winter or the Market Correction?
Is the market where it should have been if the NFT craze had never happened, or maybe even better? First, let’s compare the terms “bear market” and “crypto winter.” “A bear market is when the market is going down, and a crypto winter is when it goes sideways and doesn’t really do anything,” — the CEO of RDX Works, Piers Ridyard stated.
Describing the current market as going ‘sideways’ would be erroneous because $5bn (yes, billion) of investment into blockchain gaming and activity by web3 gaming studios suggest otherwise. Therefore, it is perhaps a bear market following the NFT boom in 2021, with a market correction after a period of exceptional growth.
“The bear market is a great opportunity for companies to mature and prove their products.” — Tommy Jamet, Head of Blockchain Product at BoomLand
Why are we ready for the launch during the bear market?
Here at BoomLand, we aim to make our platform and games sustainable for years. While the sector is in its infancy, we’re in it for the long game. Be it bear or crypto winter, a blockchain project with a robust and sustainable model will ride the crypto cycles of bull and bear to long-term success.
Check out the AMA with Lead Designer Piotr Murawski where he talks more about the in-game economy and sustainability of BoomLand: https://youtu.be/fE09LvWzuX0
The BoomLand team is highly motivated and working on launching our first game Hunters On-Chain. The current market state gave us certain advantages. We used this time to work on the product, create hundreds of smart contracts, audit their security, and work on the live-ops plan for future updates.
Live-ops process is a vital part of the game experience for the player. It defines how enjoyable the game meta will be for players. The term “meta” was introduced to mobile gaming long before Mark Zuckerberg decided to rename Facebook. But what it means for you as a player? After you learn all the game mechanics, how the basic game works and grind your way up to the top of the leaderboards, you need something fun to stay in the game. It can be new game mechanics, a core game loop, a thematic event — every piece of content that can make in-game progression fun and not a boringly grinding experience.
It’s common among web3 games to launch NFT sales long before the game launch. But since our team has extensive mobile game development experience, we wanted to bring smooth and engaging gameplay first. We prioritized development to be able to announce the roadmap for the first GAO, dates for minting, and the game release this month. Yes, we’re ready to release the game shortly after the NFT drop. That’s not it — every month, we will release new content for Hunters On-Chain. If you want to be among the first one who gets Founders’ Chest in Hunters On-Chain, join our Discord server and set notifications on the main “announcements” channel.
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The latest DappRadar report says: “Blockchain gaming is proving a true survivor during this bear market. We are on the cusp of finally seeing a good amount of blockchain games with truly immersive game mechanics that take entertainment to the next level. We will complete the transition from Play-to-Earn to Play-and-Earn.” And we’re at BoomLand happy to contribute to fun Play-and-Earn experiences for our players.
So, see you on the fun side, Landers and Hunters!
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