How tokenization can help boost fan engagement in order to drive more revenue for game developers
Anyone who has run a marathon (or knows someone who has) knows the months of training that go into it. And once you finally hit that achievement, you have the honor of saying you ran a marathon, along with a nice medal to back you up.
Much like the time and effort that runners devote to marathon training, gamers dedicate quite a lot to becoming proficient in their favorite games. But unlike the marathon runners who earn shiny medals for their hard work, the rewards that gamers earn for hitting different levels of achievement are not so tangible.
The Impact of Digital Technology on Gaming
Digital technology (and mobile in particular) has significantly changed gaming. On the one hand, it’s made gaming more accessible by giving everyone access to games right from their homes (or even their pockets). On the other hand, it’s made the reward aspect of gaming difficult.
From casual gamers to the more dedicated ones, we all like to be rewarded for hitting different achievements, honing our skills, and devoting our time. But in the digital world, rewarding gamers for those efforts has proven challenging.
In the realm of digital gaming, rewards often include purchasable power-ups or digital items that hold value within the game itself. However, the problem with these rewards is that they don’t hold any value within the real world or even within other games. Essentially, this situation limits the competitive and social nature of in-game rewards.
Monetizr is changing all of that.
Introducing In-Game Tokenization
We all want to feel like we’re working toward a goal and putting our time to good use. A tokenization system offers gamers an interesting, entertaining, and rewarding way to do just that.
Thanks to the rise of blockchain technology, which acts as a public digital ledger, we can create a tokenization system that assigns value to in-game money and items. Monetizr is bringing that vision to life with the release of the Monetizr token (MTZ).
So what exactly is tokenization and how does it work to reward gamers?
When game developers integrate Monetizr into their games, they can reward gamers with MTZ tokens for everything from spending time in the game to reaching certain achievements to engaging with ads. This setup creates three core benefits for gamers:
- Valued time. The tokens serve as a way to reward gamers for their time investment — for individual sessions as well as over periods of time as the players spend more time in game honing their skills.
- Real-world value. The tokens hold value within the game universe itself and the real world, as gamers can exchange them for physical products (such as branded collectibles).
- Universal reward. The tokens also hold value across other games that have integrated Monetizr, giving gamers control over their rewards as they decide to move from one game to the next.
Of course these benefits are just three of many that this type of tokenization offers gamers.
And the benefits don’t stop with gamers. Tokenization can also benefit game developers, largely because of their ability to boost fan engagement.
How In-Game Tokens Boost Fan Engagement
Bringing it back to running a marathon, think about how the experience would change if people ran the 26.2 miles in private, with no fanfare, no photos, and no medal. It would be a completely different and far less rewarding experience. It’s safe to assume there are some people who wouldn’t even try, and those who do would be far less engaged during training.
Today’s gaming experience is much like that. Sure, gamers still play and do well because they want to, but even if you’re the best player in the world, you still miss being rewarded for your significant amount of time invested as well as the effort and skill it required to get there. As a result, the gaming experience isn’t as engaging as it could be.
Monetizr aims to resolve that challenge by putting fan engagement front and center using the MTZ token. They give gamers tangible rewards to work toward, which makes spending time within each game more worthwhile. This tokenization also fuels gamers’ appetites to continue playing, creates more competition, and raises excitement from gamers — all of which create a significantly more engaging experience.
With Fan Engagement Comes Revenue
Of course every game developer wants to create the best possible game experience, and increasing fan engagement is a sure sign of success.
But at the end of the day, game developers still need to monetize their games, and that’s where fan engagement truly pays off. That’s because the more gamers are engaged, the more time they are likely to spend within the game. And the more time they spend within the game, the more likely they are to make in-app purchases, view ads, share achievements with friends, and purchase branded collectibles.
As a result of these benefits, it’s clear that fan engagement is a critical piece of the puzzle when it comes to developing a successful game, and in the world of digital gaming, tokenization is quickly emerging as the best path to get there.
If you want to learn more about how Monetizr is using tokenization to enhance the gaming experience, be sure to join us on Slack — or visit https://www.monetizr.io to find out how you can get involved.