The world of casual gaming has seen a massive surge in popularity over the past decade, with games like Fortnite making it easy and accessible for anyone with a smartphone, PC, or gaming console to jump in and play.
Indeed, the global gaming industry is now worth more than the music and film industries combined, with a value of $300 billion.
New Opportunities
However, the challenge for game developers has been how to generate revenue while keeping the game free. In-game purchases and advertising have been the primary means of monetization in the past, but crypto offers a new way of revenue generation for developers while creating a more rewarding and engaging experience for players.
Furthermore, gaming has traditionally been conceptualized as a passive pastime without earning potential. It tends to be thought of as a hobby for the vast majority of participants in the industry – essentially, everyone other than top-tier professionals who earn money through winning competitions or streaming revenue.
But now, the use of cryptocurrency and blockchain in gaming also allows for play-to-earn gaming, where developers can enjoy new revenue streams while still allowing a free-to-play game and gamers get real rewards in return for their play.
It also allows gamers to truly own their characters or accessories, or even lands inside games as NFTs that can increase in value the more they play, and can be traded with, or even rented to other players for rewards.
This creates a more immersive experience for players, as not only do they have a chance of potentially making a living from an enjoyable hobby, but they also have a sense of ownership over their in-game assets.
Issues with current Play-To Earn Games
However, the current model of play-to-earn gaming has its flaws. Many games have focused solely on the earning mechanism, resulting in games with low production value and little thought or planning put into the game's mechanics, design, or economy.
This has resulted in games that are no longer fun, engaging, or entertaining for players, as the primary incentive for playing has become earning rather than enjoyment.
To be sustainable and successful, the world of play-to-earn gaming needs to build upon the best of web2 gaming and not stray too far down a niche path. The focus should be on creating fun-first, entertaining gameplay that players will enjoy even if they don't need the money. Only then can the concept of play-to-earn gaming become a mainstream phenomenon.
The MagicCraft Difference
And this is where MagicCraft comes in. By focusing on a ‘’Game-First’’ development strategy, we focus on the following key goals to bring a massively improved gaming experience for all, making the possibility of earning a living through gaming becoming increasingly realistic.
We create truly exciting, competitive MOBA gameplay with a massive multiplayer element. We ensure a feeling of rapid action by creating short but intense five minute gameplay sessions, where our players can battle each other for rewards in $MCRT - our native token.
MagicCraft also works on creating a richly detailed world, filled with warrior, mage and other fighting NFT characters, all with developed backstories, special powers and differing skills.
We also pioneer new utilities for our NFT characters and digital assets within the game, working on ways for our community to trade or rent NFTs to each other for extra rewards and in-world utilities.
MagicCraft is developing at a real pace, and the last six months have seen us go from concept to playable beta, with our first huge tournaments for MCRT coming later this year.
We are confident that our title will be the first to truly demonstrate the value of blockchain and crypto to the casual gaming world, as we take play-to-earn strongly into the gaming mainstream in 2023.
Indeed, the global gaming industry is now worth more than the music and film industries combined, with a value of $300 billion.
New Opportunities
However, the challenge for game developers has been how to generate revenue while keeping the game free. In-game purchases and advertising have been the primary means of monetization in the past, but crypto offers a new way of revenue generation for developers while creating a more rewarding and engaging experience for players.
Furthermore, gaming has traditionally been conceptualized as a passive pastime without earning potential. It tends to be thought of as a hobby for the vast majority of participants in the industry – essentially, everyone other than top-tier professionals who earn money through winning competitions or streaming revenue.
But now, the use of cryptocurrency and blockchain in gaming also allows for play-to-earn gaming, where developers can enjoy new revenue streams while still allowing a free-to-play game and gamers get real rewards in return for their play.
It also allows gamers to truly own their characters or accessories, or even lands inside games as NFTs that can increase in value the more they play, and can be traded with, or even rented to other players for rewards.
This creates a more immersive experience for players, as not only do they have a chance of potentially making a living from an enjoyable hobby, but they also have a sense of ownership over their in-game assets.
Issues with current Play-To Earn Games
However, the current model of play-to-earn gaming has its flaws. Many games have focused solely on the earning mechanism, resulting in games with low production value and little thought or planning put into the game's mechanics, design, or economy.
This has resulted in games that are no longer fun, engaging, or entertaining for players, as the primary incentive for playing has become earning rather than enjoyment.
To be sustainable and successful, the world of play-to-earn gaming needs to build upon the best of web2 gaming and not stray too far down a niche path. The focus should be on creating fun-first, entertaining gameplay that players will enjoy even if they don't need the money. Only then can the concept of play-to-earn gaming become a mainstream phenomenon.
The MagicCraft Difference
And this is where MagicCraft comes in. By focusing on a ‘’Game-First’’ development strategy, we focus on the following key goals to bring a massively improved gaming experience for all, making the possibility of earning a living through gaming becoming increasingly realistic.
We create truly exciting, competitive MOBA gameplay with a massive multiplayer element. We ensure a feeling of rapid action by creating short but intense five minute gameplay sessions, where our players can battle each other for rewards in $MCRT - our native token.
MagicCraft also works on creating a richly detailed world, filled with warrior, mage and other fighting NFT characters, all with developed backstories, special powers and differing skills.
We also pioneer new utilities for our NFT characters and digital assets within the game, working on ways for our community to trade or rent NFTs to each other for extra rewards and in-world utilities.
MagicCraft is developing at a real pace, and the last six months have seen us go from concept to playable beta, with our first huge tournaments for MCRT coming later this year.
We are confident that our title will be the first to truly demonstrate the value of blockchain and crypto to the casual gaming world, as we take play-to-earn strongly into the gaming mainstream in 2023.