Economical GameFi Solutions
ML SEED Sandbox for Gamefi is an extended feature to support rapid delivery of a Gamefi type of projects leveraging ML SEED. This is achieved by leveraging ML SEED CDE with extended support to Unity and MapBox for gaming and location based web application development and testing, together with building blocks and solution templates for crypto assets and DeFi on ML SEED
Problem Statement
The traditional gaming industry has been facing challenges with player retention and engagement. As players become more sophisticated and demand more interactive and immersive gaming experiences, traditional game developers are struggling to keep up.
Additionally, traditional gaming models often lack transparency and do not provide players with ownership or control over in-game assets and economies, leading to issues with fraud, theft, and poor user experiences.
Solution
By integrating GameFi elements into their existing products or services, businesses can create new in-game assets or economies that players can access and use. These assets can be designed to have real-world value, which can create new revenue streams for the business.
For example, a fashion brand could create a GameFi experience that allows players to collect virtual clothing items that can be worn in-game or redeemed for discounts on real-world clothing purchases.
This can create a new level of engagement for customers and incentivize them to purchase more from the brand. Additionally, the brand can leverage blockchain technology to provide transparency and ownership over the in-game assets, which can increase trust and reduce fraud.
Use Case Study:
GEMS E-SPORTS
A platform that integrates E-Sports into
the web 3.0 era.
Project Background
GEMS is an Esports 3.0 aggregator platform that offers a unique online to offline gaming experience. Their platform is designed to integrate Gamefi, Metaverse, and Socialfi elements to propel Esports into the Web3 space.
They have a range of unique features that sets them apart from other gaming platforms. Some of these features include:
- Gamefi integration: GEMS platform integrates Gamefi elements that enable players to earn rewards and earn cryptocurrencies by playing games on our platform.
- Metaverse integration: Our Metaverse integration enables players to experience gaming in a fully immersive and interactive environment.
- Socialfi integration: We integrate social elements into our platform, enabling players to interact and connect with each other.
- O2O ecosystem: Our O2O ecosystem offers a unique online to offline gaming experience, enabling players to connect and play games in the real world.
Morpheus Labs x GEMS E-Sports
Morpheus Lans is working closely with GEMS to develop their web3 aggregation gaming platform. As park of their collaboration, the development will focus on their Gamefi, Metaverse, Socialfi, and Tokenization components.
The initial component includes:
- Developing an NFT marketplace for gamers to purchase their collectibles and allowing some of the NFT to have rental features attributes for in-game items of different gamefi projects. The NFT marketplace is created using NFT customizable solution template from the ML SEED library.
- Organizers can also hold game tournaments to give gamers the opportunity to compete and create a more engaging community within the platform. There will be multiple testing and development before rolling out the tournament feature, this will be facilitated using ML SEED simulation, testing, and monitoring tools, this is to ensure that GEMS Platform’s Gamefi mechanic will provide a fail-safe and end-to-end environment for all versions of the game tournament before the main launch.
- To enable its SocialFi element, GEMS Platform aims to build detailed gamer profiles (using soulbound tokens), while also keeping gamers engaged and committed to the platform as it rewards gamers with its native tokens and other GameFi element. ML SEED Collaborative Development Environment (CDE) tool is used to develop and maintain the SocialFi aspect with developers working from different parts of the world (cross-countries collaboration).
New Revenue Streams
New Revenue Streams - GameFi allows businesses to monetize their digital assets, such as in-game items and virtual real estate, and create new revenue streams through secondary markets. This can generate additional revenue and increase the overall value of the business.
Increased Customer Engagement
Increased Customer Engagement - By incorporating gamification elements, such as game mechanics and reward systems, businesses can increase user engagement with their products or services.
This can lead to increased retention and loyalty, as well as higher conversion rates.
Innovation and Differentiation
Innovation and Differentiation - By incorporating GameFi into their business strategy, businesses can differentiate themselves from their competitors and demonstrate innovation in their industry.
This can lead to increased brand recognition and appeal to a younger, tech-savvy audience who are interested in blockchain-based gaming and digital assets.
