Unchanged in the operation of Blockchain Games After funding of $ 200 million – Yalla Match

As blockchain technology continues to evolve, the gaming industry has been quick to adopt it. Cryptocurrencies and the NFT paved the way for a new form of gambling economies where assets have real world value.

Players who have spent hours upgrading their characters and grinding rare items now have more incentive to do so than ever before. Blockchain games reward them for their time through a model known as play-for-profit (P2E) games.

This has become especially popular in parts of Southeast Asia, where some have been able to earn full-time income just through games.

However, over time, the flaws began to appear. It is becoming clear that P2E models are not always stable. They often rely on new users who invest in the ecosystem and once the interest runs out, they will no longer be able to pay the returns.

“The ‘play for profit’ model that shaped the first iteration of blockchain games creates an unstable ecosystem,” explains Justin Hulog, Head of Studio at Immutable, a leading platform in NFT technology.

“Creating products where the only reason to play is to win is wrong and you lose the point of the game. Too often, these financial analyzes are predatory and unsustainable in the long run. ”

Introducing “play and win” games.

It’s only a small change in wording, but the implications are significant. Continuous champions of a gaming model in which it is possible to earn monetary rewards, but the main focus remains on play and fun.

We believe that games should be fun. Instead of turning people’s favorite transition into a “job,” we focus on fun and engaging gameplay while still empowering players with ownership and benefits.

– Justin Hulog, Head of Studio at Immutable

The game and win model is featured in the main Immutable show, Gods Unchained. Created in 2018, it is an online trading card game where players compete in duels against each other.

Gods Unchained is a player-to-player (PvP) trading card game / Credits: Gamers Unite

Gods Unchained uses the $ GODS cryptocurrency as in-game currency, which users can earn by playing the game. Coins can then be exchanged for paper money or used to unlock in-game services.

“Our focus at $ GODS has always been about unlocking additional services for our community. With $ GODS, players can create new NFTs that can be used in-game or marketed. “We recently released a new Shine Fusing feature that allows players to burn their NFTs to also create a rare NFT,” says Hulog.

By ensuring that $ GODS has the desired tools, Immutable is able to increase demand and prevent mass sales. This is where play-for-profit games often get stuck.

“We are working to open more use cases for GODS, such as betting, voting and governance,” he added.

While Gods Unchained players are able to make money through the game, it does not appear as the main focus or point of sale.

$ 200 million to fund expansion plans

As of January 2022, Gods Unchained had about 80,000 active players, with $ GODS down to a market value of over $ 10 million.

Following its success, Immutable is now preparing to launch a second blockchain game – Guild of Guardians – which already has a community of 400,000 people.

In addition, the platform secured $ 200 million in Series C funding in early March, led by Temasek and other investors, including Animoca Brands and Tencent.

Immutable is now valued at $ 2.5 billion and has strong plans to expand in the coming months.

Guardian Guild
Preview of the Guild of Guardians, an upcoming mobile game from Immutable / Image Credits: Fixed

First, we have plans to double the size of our company to 400 people. That means hiring more than 200 new employees worldwide over the next year in a range of positions.

From a monetary point of view, we are fortunate to have more than four years in a row, even with heavy employment. This means we can expand our workforce even when other traditional technology and crypto companies have cut employment.

– Justin Hulog, Head of Studio at Immutable

Immutable will also use the funds to invest in its NFT market, Immutable X, and expand its gaming studio.

“To be a leader in blockchain games, we must not only build owned and operated games, such as Gods Unchained and the Guild of Guardian, but also become the main platform for developers looking to build blockchain games.”

Given the success of NFT Games in countries such as Indonesia and the Philippines, Immutable is also looking at the Southeast Asian market as one of its main target markets.

“This area is very important in terms of how we think about growing at Immutable. In addition to providing access to its existing products, the company is looking to create tailored offers for this market as well. ”

“We understand the richness of diversity in these regions, with large communities with different motivations, needs and languages. As such, we prioritize localization as one of our key expansion strategies. It’s more than just translating products and marketing into local languages. It is about designing our product and content to meet the needs and interests of each local market and their diverse communities. “

To achieve this goal, Immutable has begun to expand its recruitment operations in Southeast Asia.

The future of NFT and blockchain gaming

Although the recent market crash has reduced interest in NFTs, Immutable remains fully convinced of its place in our digital future.

NFTs will be the icons of the world and games will be their first massive vertical discovery. Video game assets have always been a highly sought after digital collection.

In 2020, players spend $ 74 billion on in-game items just to collect them and do nothing in return because they want to get those items. With NFTs, they can own these items instead of licensing them from gaming companies.

– Justin Hulog, Head of Studio at Immutable

This technology will ensure that the time and money that players spend on games are no longer an expensive cost. However, the potential gain will not drive the adoption of users separately.

“Games with great games, such as Gods Unchained and Guild of Guardian, that players want to play even without incentives, will be a major factor in increasing the mass adoption of blockchain games,” he added.

Isolated image credit: IGN Southeast Asia / Unchanged

Leave a Comment