Nakamoto Games CEO Tor’s Observations And Insights Into The Decentralized, Blockchain-Based Play-To-Earn Gaming Space
One of the biggest trends in the decentralized gaming space over the last two years has been the phenomenal growth of blockchain-based free-to-play and play-to-earn platforms. One of the leading innovators in this space is Nakamoto Games, the development company behind a wide range of successful free-to-play and play-to-earn titles. Nakamoto Games has experienced unprecedented growth since its launch and has pioneered many cutting-edge features and services for gamers. These include in-game interactivity, exceptional game mechanics, lucrative earning opportunities, and the creation of a Metaverse with accurate, real-world economics and trade.
To learn more about Nakamoto Games, why it was started, and to better understand some of the overarching trends we see in the decentralized gaming industry, we at Moncurr PR spoke with Tor, the CEO of Nakamoto Games, for his insights into the industry and where he sees the industry heading over the next several quarters.
Thank you for speaking with us today, Tor.
My pleasure. I’m happy to be here.
So, the question we always get from the community is, what is Nakamoto Games all about, and why was it founded? Could you address these queries from the community for us?
Sure. Nakamoto Games is a play-to-earn ecosystem with a sublime suite of blockchain-based games that are accessible to people all around the world. The platform was launched in October 2021 and since then has successfully brought a rich list of exciting gaming options to the decentralized gaming space. These include revamps of retro classics, first-person shooters, racing games, puzzle games, and more. There is even an interactive Metaverse gaming world built with real-world mechanics and economics designed to bring accurate and realistic experiences to players.
I see. You mentioned free to play games. What exactly are those? How do free-to-play earning models work? Can your platform and your players earn under such a model?
Free-to-play games are games that give players access to either all or a significant portion of a game’s content without any up-front payment or payments to continue playing. Free-to-play games are different from traditional commercial gaming titles which typically require a payment of some sort (such as the purchase of a copy of the game or a user license to use the game) before the game can be played.
Like other free online services, free-to-play models generate revenue and income via ads and in-game purchases. By first creating an end-to-end, user-focused ecosystem and providing top-notch services and features, gamers are enticed to join the platform. From there, by offering rewards for playing games, users are incentivized to continue playing the titles they enjoy. During gameplay, ads can be served, and in-game purchases can also be made, generating revenue for the platform and individual titles.
So that’s the main source of revenue for Nakamoto Games?
Primarily, yes. Nakamoto Games acts as a gateway to all of the free-to-play gaming titles active on the Nakamoto Games platform. By providing a wide range of gaming options, Nakamoto Games will expand its relevant offerings to a broad audience base – which is all blockchain-based gamers, a user group that has been growing exponentially over the last several years. It is important to remember that the free-to-play model is the basis of the play-to-earn model since play-to-earn titles are usually provided for free. However, players can earn from their gameplay once they perform well enough. Once players earn in such games and start spending on the platform, Nakamoto Games can earn revenues from those expenditures as well.
Exactly how big is the free-to-play market?
Right now, the online gaming market is valued at over $300 billion. Online gaming is the fastest growing industry in the entertainment world, outpacing the markets for both music and movies. Over 500 million new gamers were onboarded in the past three years as the share of users that participate in gaming continues to grow. Blockchain gaming is also capturing a growing share of the online gaming market and this trend has accelerated with the emergence of play-to-earn games.
That’s a huge market. So, is it correct to assume that ecosystem growth is an important part of your strategy? How does the free-to-play model benefit Nakamoto Games’ ecosystem?
The free-to-play earning model allows Nakamoto Games to deliver immersive, interactive, and highly engaging gaming titles to tens of millions of global players. Since there is no up-front cost to play free-to-play games, barriers to entry and participation are virtually nonexistent. This makes it easier to bring new gamers into the fold. Once they have entered the ecosystem, they can enjoy a wide range of gaming titles, access to draws and airdrops, and the opportunity to earn from their gameplay.
What about play to earn titles? Do free-to-play titles enhance participation in your play-to-earn games?
Yes, the two generally work together. Free-to-play can help grow the audiences and user base of play-to-earn games because a critical aspect of ecosystem and platform growth and adoption is user onboarding. Even with exciting titles and releases, without players, no platform, ecosystem, or gaming studio can survive. By using free-to-play as an on-ramp to play-to-earn, Nakamoto Games is bringing the best of both worlds – low-cost gaming participation and in-game earning opportunities – to its rapidly growing user base.
How exactly does Nakamoto Games reward free-to-play players?
Free-to-play players can earn in-game tokens and in-game items and they are also rewarded with the entertainment they receive from playing interesting and engaging online games for free. They also benefit from access to the Nakamoto Games suite of services, from online chat rooms and staking services to lucky draws and token airdrops.
What about developers? How do you incentivize them to join your platform?
We work closely with game designers and developers, and we provide an SDK to help roll out new games for studios of all types and sizes. In the end, the ultimate goal is to deliver the best possible gaming experiences to our players, and the decision to provide payouts and rewards for different games depends on the developer of the game in question. However, regarding the question, the answer is yes. Free-to-play gamers can be rewarded with NAKA tokens. For example, if a player plays well enough to win a tournament or a set of challenges or wins the weekly jackpot, or is selected for an airdrop, then these are some of the ways that players can win NAKA tokens even with free-to- play title.
What are the tie-ins between free-to-play and the value of the Nakamoto Games (NAKA) cryptocurrency?
NAKA is the lifeblood of the Nakamoto Games ecosystem and is the de facto currency of the platform. Free-to-play games can increase the value of the NAKA token by increasing the demand for token rewards. The more NAKA that gamers earn, the more they will spend in-game and on other items, such as entries to pay-to-play games, extra lives, and in-game enhancements such as skins or abilities. The more players, the higher the demand for NAKA, and the higher the demand for NAKA means higher value for NAKA.
Are all of your games free-to-play games?
No, not all games on the Nakamoto Games platform are free-to-play. Some games require an entry fee – payable in NAKA tokens from a platform-connected wallet – for participation.
Where do you see the market headed over the rest of 2022 and beyond?
For us, our focus is on continuing the development of our platform, bringing new features and opportunities to our users (such as staking and the NAKAVERSE), and releasing a steady stream of fun and interactive gaming titles. We are on about 17 games now, and we hope to release several dozen more over the second half of 2022.
Is there anything else you would like to add for our readers before we wrap up?
Yes. Our success would not have been possible without the support of our community and the resources of our partners. We have steadily grown and are even adding resource headcounts despite the current bear market. This is a testimony to the resilience of our model and the market demand for what we have to offer. We set a high bar for ourselves and our players and strive to deliver the best gaming experiences and earning opportunities to players all around the world.
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