Gaming is without doubt one of the most prolific entertainment industries in the digital age. In 2020, the global gaming market was valued at 162.32 billion dollars. This number is projected to be 295.63 billion by 2026. It is also estimated that nearly one-third of the world’s population play video games, which translates into 2.1 billion people playing a minimum of once a month.
The online gaming industry is not only one of the most profitable, it is also among the oldest and most well-developed Internet sectors. Likewise, fundraising for gaming projects is another well-beaten track with numerous big names such as Kickstarter, Gambitious, and Crowcube.
So what is left for Gamestarter to explore? There are few inherent problems in Gamestarter’s targeted markets – gaming, NFTs, and fundraising, along with the solutions that we provide.
For indie game developers and content creators
Every game developer knows that building a good game is no piece of cake. In contrast, this task takes tremendous talent and hours of dedication. However, the industry rarely does justice to their efforts with it being super common for game creators to give up equity or worse, integrity to get the much-needed funding for their projects. Commitment to a single platform or even signing off their own intellectual properties are among the sacrifices that game creators have to take for their brainchild to be published.
This is where Gamestarter comes in. Its mission is to revolutionize the sector of fundraising for gaming projects with NFTs. Indie game devs and content creators will be given a whole new channel of financial support to incubate their ideas – through pre-sale of in-game assets in the form of NFTs.
NFTs or non-fungible tokens amazed the whole crypto world with their explosion in early 2021 when new records were set every week. February 2021 was the best month for NFTs, in which we witnessed a growth of almost 400% from $71M of the month before to $342M.
Thus, NFTs are promising to provide a tenable solution here as they help game builders to faster monetize their ideas.
Gamestarter will function as an NFT market that hosts the trading of all in-game assets brought by game creators. This provides devs with stable access to market demand without any charge until they reach their funding goals. Furthermore, Gamestarter helps boost a project’s public visibility with its massive fan base made up of game enthusiasts. Game creators will be able to develop their own community within the Gamestarter universe.
For NFT collectors and gamers
NFTs are known for having multiple forms and formats. Though NFTs are most famous for being digital artworks, anything can be an NFT as long as it holds specific properties such as uniqueness, provenance, cultural relevance and authorship. One example of this is that Twitter’s founder Jack Dorsey promoted an NFT of the first-ever tweet, with bids hitting $2.5m.
This low entry barrier helps encourage the adoption of cryptocurrency, but it also means that the majority of NFTs minted on the Ethereum blockchain will be rendered valueless in the future, while only a few of them will ultimately maintain or increase their value. This is a big problem for NFT buyers as they have to be especially careful with this type of asset to avoid throwing money down the drain.
As a fundraising platform, Gamestarter helps tackle this problem by being a comprehensive screening tool. Every project that is listed on Gamestarter will have to be verified and evaluated by experts. Therefore, the NFTs coming from Gamestarter-listed projects are more trustworthy and thus make for better investments. Additionally, as an NFT marketplace, Gamestarter contributes a healthy circulation of NFT supply and demand, which is the most critical factor determining an asset’s liquidity. NFT owners are given access to a big market where they can conveniently buy and sell NFTs. Because of these reasons, being part of an in-game ecosystem will surely benefit gaming and NFT enthusiasts.
To wrap it, Gamestarter aims at providing a groundbreaking solution based on NFTs to the difficulties encountered by game creators as well as players. Stay tuned for the updates of our launch!