Before you consider an ICO in gaming, consider the following:
Elementeum Games has shared some of their lessons learned through the process of their pre-release of the Ether Legends Collectible Trading Card game ICO launch.
Included are a few highlights in the area of targeted audiences that the team shared in regards to their ICO.
Through the experience of utilizing social media and airdrops the team quickly realized there are three types of potential contributors.
1. The Cryptocurrency Collector – These are the folks only interested in participating in Airdrops which will help you promote your brand, but primarily only to others with similar interests in collecting cryptocurrency or participating in airdrops. These people tend to want an opportunity in how to make a quick buck and could care less what your product is really about.
Conclusion: Will help spread the word, but not to the right targeted market. The cryptocurrency collector will not contribute to your ICO due to lack of understanding or interest. They Cryptocurrency Collector willl not particiate in your ICO.
2. The Gamer – Gamers have a real interest in the vision and product but are less likely to participate in the hype of cryptocurrency where they see the obstacle of having too many steps to contribute to the project. Cryptocurrency is still in its infancy and seems to be a deterrent based on multi-level complexities surrounding it.
Conclusion: Part of a loyal fan base, but not the right targeted market for ICO success. Gamers will not contribute to your ICO.
3. The Crypto Gamer – Perfect, right? Yes. These are the folks who have dabbled enough in the cryptocurrency, AND play games. These folks have a good understanding of the value and utility that can be brought to gaming platforms; regarding ownership of digital content and security. The challenge is these potential contributors are far and few between.
Conclusion: Part of a loyal fan base, the right targeted market for ICO success, but there are not enough crypto gamers out there YET and a lot of junk to sift through. Crypto Gamers will contribute to your ICO!
Highlights of some of the lessons learned:
No amount of money in marketing is going to overcome the hurdles of cryptocurrency complexities in its current state, avoid the market hype and count on a lack of understanding in cryptocurrency and blockchain utility. It is difficult to bridge the gap of people’s understanding in utility of the blockchain until the technology has gone through some maturation (This also includes the developer tools). Although blockchain will have a major impact to gaming world, it’s not yet easy enough for the masses to use, let alone participate in an ICO.
1. Have a demonstrative product, the idea isn’t enough. Focus on the game aspects in having something to demonstrate the game and utility that can be placed in the gamer’s hands.
2. Focus on the target market of gamers, the game itself and talk about the blockchain technology benefits secondary; Don’t make cryptocurrency the focus (Gamers aren’t following the hype train of crypto and it’s too cumbersome in its current state). Additionally, your game can’t suck and has to compete against all “games” for longevity and playerbase growth, not just crypto games.
3. Consider ‘seamless integration perspective’ of cryptocurrency as it relates to your game; As a computer is labeled with “Intel Inside” for its technology and processing, “Your Game” happens to be “Powered by the blockchain” – This perspective relates to having a product that works, no one cares how it works, as long as it works and whatever platform it is built on is safe and secure with added benefit, introduced incrementally.
Recommendation and conclusion for those considering a game ‘like’ ICO:
Save your time and money and put it into developing your game or product. Incrementally release your game to show the value and demonstration of the game with cryptocurrency being a driver to the technology that supports your gaming platform.
What is Elementeum Games doing with the Ether Legends Collectible Trading Card Game?
Even though the softcap was not met through the ICO, Elementeum Games and the Ether Legends project is self-funded and will go on. The idea behind the crowdfunding of an ICO initially was to get enough money to expedite the release of the digital trading card game. Ether Legends has a unique aspect of having a physical trading card game in which those cards can be redeemed digitally to the blockchain for digital asset ownership.
Elementeum Games has applied some of the lessons learned and focused their energy on finishing the physical trading card game, branding and game mechanics. This is the primary foundation for the digital game and associated key features of collectability and content ownership.
The game has been completely designed with blockchain technology in mind. The game has its own in-game cryptocurrency, Elementeum, and added benefits for those who own it.
Rest assured there will be another opportunity to get your hands on this in-game digital currency. In the meantime, development is focused on the physical card game with seamless integration of the digital in-game ecosystem, asset redemption, digital collectability, player benefits and utilization of blockchain technology.
Progress since ICO launch…
– Game mechanics have been finalized with initial focus group input.
– Card design has been finalized.
– All characters for the first release have been completed.
– All smart contracts have been developed for account and character ownership.
– Wallet account interface design complete.
– Alpha/Beta sign up for the physical trading card game
– Testing of QR code and blockchain redemption smart contract of physical cards
– Final touches, packaging, Kickstarter setup / execution (Tiered packages)
– Final testing of all smart contracts and 721 non-fungible tokens
– Web client interface for visualization of digital assets with marketplace features
Elementeum Games will be offering its physical cards for Alpha/Beta testing with a sign up available on their site in the near future.
If you would like more details Contact firstname.lastname@example.org