In contrast to the preceding phase of GameFi projects, which prioritize play-to-earn features over gameplay, the next wave of blockchain-inspired games incur production costs of seven to eight figures and require years to reach the market. Yezi, the chief operational officer of Korean game developer Seraph, claims as much. Regarding the company’s impending Arbitrum dark fantasy ARPG Seraph: In the Darkness, he said, “We have spent over $10 million on development costs.” Our project was first self-developed and self-funded. We just started our first round of external funding, which is already finished, and we will shortly make an official announcement.
According to Yezi, Web3 blockchain games are really rather advantageous over Web2 ones. He said, “Players’ sense of co-creation and promotion is enhanced by Web3 games.” “A special chemistry is created between Web2 and Web3 players that energizes market transactions and draws more participants.” The blockchain developer did, however, also highlight the necessity for more recent GameFi projects to offer players a better gaming experience in addition to high-quality tokenomics: “They are not content with profit-calculating games like Axies Infinity and StepN,” he stated. Yezi reveals that during the recent preseason launch of Seraph: In the Darkness, there was a remarkable level of participation.
More than 60,000 people took part, of whom more than 30,000 had improved gaming characters and more than 10,000 had made purchases. We generated $3 million in fiat revenues during this test phase, and in accordance with our white paper’s stipulation, we were able to set aside more than $1 million for token buybacks.
“This test phase preliminarily achieved the payment and conversion of traditional users to the Web3 domain, especially through veteran players’ livestreams,” he said. Later this year, the game will be released with both a free-to-play version and a premium one for those who want to trade and earn money from it. At the moment, NFT equipment has a floor price of 0.2 Ether ETH, and accessing the in-game transactions market costs $50. “At this time, Seraph Studio has no intentions to release any other games. But soon, thanks to partnerships or investments, our in-house built custodial wallet ActPass will launch more high-caliber games and function as a platform for the issue of gaming assets,” Yezi stated.
It was revealed last month that Web2 gamers had frequently spent hundreds, if not thousands, of dollars on in-game items that they were meant to keep, but they had frequently left with nothing substantial. Conversely, the problem has been partially resolved by blockchain operability, which permits players to purchase, sell, and retain ownership of their immutable in-game assets.