The blockchain has been transforming the centralized and locked-in Web2 ecosystem ironSource currently uses. In this article, you will find four ways from ironSource the blockchain and its implementation will add value to your games for you.
A quick intro to blockchain
The blockchain is effectively an online registry with its primary selling points being its security and decentralized nature. The blockchain is exceedingly difficult to manipulate and essentially monopoly-resistant. This technology is interoperable, meaning that the assets stored within it can be easily moved from one application or platform to another that is on-chain.
Value #1: Increase in-app purchases through true user-ownership
By their very nature, Web2 in-app purchases cannot generate value for users outside of the play experience, making all in-app purchases ultimately sunk costs. However, the tradability and true user ownership afforded by blockchain technology allow for a marketplace to exist where users can exchange right of their NFTs. As a result, users can sell their game assets to other users to recoup their costs if they no longer want to play a game. This has the benefit of offering a safety net to users on their purchases, which further eases users’ wariness of their purchases being sunk costs.
Increased longevity and true ownership for users is an essentially motivating force toward more in-app purchases.
Value #2: New monetization opportunities through royalties
Blockchain provides a whole new form of monetization for developers: royalties. Royalties will lengthen the LTV of your games and their attached assets. While Web2 in-app purchases are essentially one-and-done sales, Web3 royalty fees are charged per transaction. For every NFT trade or sale, there is a royalty attached, creating a new way to monetize your users across the lifespan of your titles, making those titles generate more revenue for longer.
Value #3: Increase efficiency and retention with user-generated content
User-generated content has many advantages for developers. First is the efficiency it adds to development time since the in-game assets can functionally be crowd-sourced.
One of the most time-consuming elements of game development is ideating and building game assets. Through users’ ability to customize and personalize assets within a game, game worlds can be partly or completely filled with the ideas of their users. This user-generated content boosts game development efficiency for you – users can take on the lion-share of building assets, allowing them to build the world they want while you can focus on the rest of your game.
The second is how user-generated content can be used to aid in user retention. Through customization and personalization tools, users have a hand in creating the game world they occupy. This gives your users a reason to see themselves within your game and be a part of the world they helped create.
Value #4: Improve user acquisition through interoperability and openness
The openness inherent to the technology creates new user acquisition opportunities thanks to interoperability. Interoperable assets allow users and you to move both user-generated and developer-created assets from one on-chain game to another. This allows you to generate interest, essentially aiding in user acquisition. That is, by showing assets from your game to another, you can find a potentially interested user and attract him to your game.
Blockchain technology offers developers empowerment and value
The blockchain offers a variety of value to developers that they would not otherwise be able to access. By its decentralized nature, the blockchain offers opportunities for monetization, growth and creativity that don’t exist within the Web2 marketplace.
Implementing the blockchain within mobile games will allow developers to reach new avenues while bolstering their existing systems. Moreover, the blockchain allows users to share in the value generated by this implementation and creates a stronger bond between user and developer – a better bond means better games and a better market.