Web3 community shares tips for a successful GameFi project

From creating e-sports competitions with huge prize pools to making game tokens more relevant to holders, members of the community share their thoughts on GameFi.

As the GameFi space continues its journey to attract gamers to a new gaming paradigm, community members shared their takes on what they think a mature GameFi project needs to succeed. 

From creating e-sports competitions with huge prize pools to making the game tokens more relevant for the token holders, GameFi community members shared their takes on what the space needs.

One Reddit user suggested that GameFi projects need to appeal to several target audiences. This includes whales who will provide funding, earners who are mostly kids and people from developing countries and those who play for fun that will leave good reviews for the game.

Another community member pointed out the need to improve the reputation of the space. According to the Redditor, there are some that consider GameFi a scam and this needs to be changed. In addition, the community member also highlighted that it would help if GameFi projects held e-sports competitions with high prize pools as rewards.

Meanwhile, one user said that a matured GameFi project must have a way to make its token relevant for gamers. This suggests that further use cases must be added. In addition, the user also suggested the integration of decentralized finance (DeFi) liquidity mining for the tokens.

Going back to the basics of gaming, a community member highlighted that the most important factor that GameFi projects should focus on is making the game fun. The Redditor believes that making the game fun and engaging will make users come back “day in and day out.”

Related: Big Time and other Web3 games take home the gold at the inaugural GAM3 awards

While some gamers may be against GameFi, a recent survey showed that some are willing to play more blockchain games if they are given opportunities to earn cryptos like Bitcoin (BTC). The survey also showed that more gamers are interested in earning BTC while playing compared to earning nonfungible tokens (NFTs).