Research Summary
The report provides an in-depth analysis of the web3 game Pixels, its strategic migration to the Ronin blockchain, and its economic model. It also discusses the launch of Warframe on iOS and its performance. Additionally, it highlights the services of Naavik, a gamification consulting firm.
Key Takeaways
Pixels’ Strategic Migration to Ronin Blockchain
- Successful Transition: Pixels’ migration to the Ronin blockchain in October 2023 resulted in a tenfold increase in daily active unique wallets (DAUWs) within two days, rising from 20K to 70K. This move was aimed at reducing gas fees and tapping into the Axie Infinity user base.
- Impressive Growth: By February 20th, 2024, DAUWs reached 316.8K, and the Ronin network saw active addresses surge from 20K to 897K. The value of Ronin’s token, $RON, also increased from $0.50 to $3.46.
Pixels’ Economic Model and Token Transition
- Token Transition: Pixels faced economic challenges with the $BERRY token experiencing a 2% daily inflation rate, leading to the decision to sunset $BERRY in favor of $PIXEL as the main token. The transition involved an automatic exchange for players at a rate of 1,000 $BERRY for 7.6175 $PIXEL.
- Successful $PIXEL Launch: The $PIXEL token launch on Binance saw a remarkable 24-hour trading volume exceeding $500M, reflecting strong market interest and significant token value appreciation.
Warframe’s Launch on iOS
- Successful Launch: Warframe, an action RPG/looter shooter, launched on iOS 11 years after its initial release, showcasing the game’s longevity and adaptability to new platforms. Since its release, Warframe Mobile has achieved over 600K downloads and generated approximately $100K in revenue.
- Monetization Challenges: Warframe Mobile’s first-week Revenue Per Download (RPD) in the U.S. was around $0.20, significantly lower than Diablo Immortal’s $3.00, indicating room for improvement in monetization.
Naavik’s Gamification Consulting Services
- Expertise in Gamification: Naavik offers gamification consulting services designed to enhance user retention, engagement, and revenue by integrating game mechanics into various applications. The company’s expertise in gamification is recognized as a key factor in their expansion and the positive feedback from clients.
Actionable Insights
- Exploring Blockchain Migration: Other web3 games could consider migrating to different blockchains, like Pixels did with Ronin, to tap into existing user bases and reduce gas fees.
- Monitoring Token Transitions: The transition from $BERRY to $PIXEL in Pixels could serve as a case study for other web3 games facing economic challenges due to inflationary tokens.
- Considering Mobile Adaptation: The successful launch of Warframe on iOS suggests that other PC/console games could explore mobile adaptations to reach a wider audience and extend their longevity.
- Improving Monetization Strategies: Warframe Mobile’s low RPD indicates the need for improved monetization strategies in mobile games, which could involve optimizing in-game purchases or introducing premium features.
- Utilizing Gamification Consulting Services: Companies looking to enhance user engagement and retention could consider utilizing gamification consulting services like those offered by Naavik.
