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Blockchain, cryptocurrency, and the NFT gold rush are forcing countless brands and industries to reassess their long-term strategies and move toward a decentralized finance (DeFi) future. The gaming industry in particular – a sector that more and more people will no doubt embrace as jobs become increasingly automated and remote working becomes normalized – has seen a massive move towards crypto under the form of decentralized game-to-win applications, or “dApps”.
In 2021, according to Statista, the global market value of gaming reached over $178 billion and is expected to gross over $268 billion by 2025. While GameFi dApps (blockchain app games in which players can earning cryptocurrency and NFTs) most of this growth – with February 2020 from crypto.com GameFi: past, present and future report detailing that they have a current market capitalization of $40.99 billion – they remain in their teens. The volatility of their DeFi nature and the complexity of their token economies have proven to be significant hurdles in securing investors and demonstrating their legitimacy to the general public.
However, content is still king and a major asset that developers need to leverage to overcome these hurdles. Here are content strategies to lay the groundwork for GameFi’s growth.
Related: 5 reasons to start with DeFi
1. Use Wiki Pages, Blogs, and Lightweight Articles
Crypto and NFTs remain relatively esoteric concepts on their own. Add to that gameplay narratives, rules, and tokenomics and it’s easy to see why investors, the general public, and even mainstream gamers are hesitant to embrace this emerging industry. Therefore, circulating descriptive content that clearly and simply delineates the different layers of a GameFi project is key to engaging target audiences, reaching crypto newcomers, and conveying an intelligible narrative.
Although a whitepaper is a prerequisite for explaining and presenting any blockchain project to investors, they are usually exhaustive documents with very technical and confusing terminology. Litepapers, however, serve as handy teasers for white papers and GameFi projects, and are better at capturing the fleeting attention spans of this digital age. They convey the main pillars and components of the project with simplicity and offer potentially worried investors a less intimidating entry point to understanding a project.
In addition to litepapers, developers can incorporate Wiki pages to describe various aspects of game protocol, from worldbuilding to tokenomics. Since GameFi dApps are typically focused on Decentralized Autonomous Organizations (DAOs), Wiki pages provide greater community engagement by allowing token holders to edit and contribute information.
Likewise, blog posts allow developers to keep NFT communities and crypto newcomers informed and updated on the progress of a project. Recurring posts should provide guidance and in-depth logistics on each element of the game to demonstrate support and encourage adoption. Blog posts and Wiki pages are also less formal than white or light-hearted papers and provide the opportunity to expose brand personality, a necessary ingredient to appeal to a wider audience and mitigate the daunting characteristics of the protocol.
Related: Can white papers help boost your business?
2. Share walkthroughs and tutorials on social media
As useful as litepapers, wiki pages, and blogs can be, the gaming community and general public are infinitely more captivated by dynamic visuals than lists or prose (no matter how quirky your font). Additionally, any GameFi dApp is naturally more conceivable and digestible in its visual presentation, making social media a key asset for developers to leverage.
According to the Washington Post, around 100 billion hours of gaming content were watched on YouTube in 2020, with Google reporting that walkthroughs and how-to videos were among its top content categories. For GameFi developers looking for opportunities for growth and exposure, social media platforms like YouTube and Facebook are essential spaces to mass-circulate walkthroughs, tutorials, and even engaging gameplay moments. . Such casual content introduces the gaming experience to new users and helps traditional gamers assimilate into the gaming ecosystem to win by highlighting day-to-day gameplay.
3. Adopt Live Players as Influencers
Although influencer marketing is often seen as its own strategy, it is actually an integral piece of a larger content marketing puzzle. But rather than turning to conventional social media influencers, GameFi projects can find more targeted avenues through live gamers and platforms like YouTube Gaming and Facebooks Watch that host their content.
According to Statista, gaming’s most popular streaming service, Twitch, racked up more than 5.79 billion hours of total watch time in the third quarter of 2021 alone. Platforms like Twitch and their streamers have served as instrumental conduits for gaming brands to generate exposure and awareness. Due to their active forums and high community engagement, they are also good at generating conversations and gauging impressions.
Just as conventional Instagram and TikTok influencers create trends, promote products, and build awareness, live gamers can do the same for GameFi projects, bringing their content to the most relevant demographics, educating them with niche gameplay and providing positive feedback.
Related: How Live Streaming Can Attract More Customers
There is no doubting the potential for games to earn and other dApps looking to tap into the crypto movement. Yet developers still have a long way to go to persuade the world of its inherent long-term value. When it comes to communicating this value and potential, it is crucial to employ a measured content strategy that generates awareness. Adopting live gamers as influencers, circulating walkthroughs on social media, and distributing delineative content such as Wiki pages, blog posts, and litepapers are effective methods that emphasize the most attractive aspects of a GameFi project and lay the foundation for exponential growth.