Compared to the previous wave of GameFi projects, which were heavily feature-focused

Compared to the previous wave of GameFi projects, which focused heavily on for-profit gaming features rather than gaming experience, the latest wave of blockchain-inspired games cost at least seven to eight figures and spend years in production before reaching the market.

This is what Yezi, COO of Korean game studio Seraph, says. “We spent over $10 million in development costs,” he told Cointelegraph of the upcoming Arbitrum Dark Fantasy ARPG. Seraph: In the dark. “Initially, our project was self-financed and self-developed. We recently launched our first external fundraising round, which has already been completed, and an official announcement will be made soon.

For Yezi, Web3 blockchain games actually have significant advantages over their Web2 counterparts. “Web3 games encourage a greater sense of co-creation and promotion between players,” he commented. “The interaction between Web2 and Web3 players creates a unique chemistry that energizes market transactions and attracts more participants.”

However, the blockchain developer also highlighted the need for new GameFi projects to provide players with a better gaming experience while using high-quality tokens: “Players are no longer satisfied with simple revenue calculation models like games previous ones from Axies Infinity and StepN. .” As Yeezy explained. Seraphim: In the dark Its launch was recent before the start of the season, which generated a significant response:

“More than 60,000 players participated, including more than 30,000 with advanced game characters and more than 10,000 users making purchases. During this testing phase, we generated $3 million in cash revenue and were able to allocate over $1 million to token buybacks, as per paragraph in our white paper.

Seraphim: Introduction to Into the Dark. Source: Steam

He continued: “This testing phase initially helped push and convert traditional users to the Web3 domain, particularly through live streams for veteran players. » The game is scheduled to launch later this year, with a free version and a paid version, if players wish to participate in trading and monetization.

Currently, the minimum price of NFT equipment is 0.2 Ether (ETH), and there is an entry fee of $50 to access the in-game transaction market. “Seraph Studio does not have the planning to release other games at the moment. However, our internally developed incubator portfolio ActPass will become a gaming asset issuance platform in the near future and launch more high-quality games through investments or collaborations.

Last month, Cointelegraph reported that Web2 players spent hundreds — and sometimes thousands — on in-game purchases they were supposed to keep, but were often left without anything lasting. On the other hand, blockchain interoperability has at least partially solved the problem by allowing players to buy, sell, and own their immutable assets in the game.

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