The world of video games is constantly evolving, and the latest innovation is GameFi. It's an interesting concept that’s a blend of traditional gaming with the financial potential of decentralized finance (DeFi). This exciting new market segment leverages blockchain technology to create "play-to-earn" (P2E) experiences. The GameFi app allows players to acquire valuable in-game cryptocurrencies and non-fungible tokens (NFTs). Players can trade, sell, or use them in other financial applications.
The magic behind GameFi lies in smart contracts. These self-executing programs power the entire ecosystem, ensuring fair gameplay and automated reward distribution. Each game typically utilizes multiple smart contracts for different functions, managing everything from asset creation to player incentives and the in-game economy.
GameFi isn't just a boon for players; it opens up exciting possibilities for developers as well. By adopting the P2E model, developers can create new revenue streams, attract a dedicated audience, and gain valuable investor backing. Early adopters are already reaping the rewards, and analysts predict the GameFi sector will reach a staggering USD 104.5 billion valuation by 2028 (source: Crypto News).
So, how do you ensure you benefit from this lucrative industry? If you have a GameFi app and are unaware of how to effectively market it, you will not be able to sustain in this space. However, an experienced game marketing agency can help you achieve the desired results.
A gaming agency must be aware of current market rules and regulations. When looking for a qualified GameFi agency, make sure they have a good understanding of the gaming business and its market worth. You should ideally work alongside an agency whose employees are enthusiastic about both gaming and marketing. They should be able to ask you the right questions to align better with your vision and aim. Before you decide to go with one, remember to:
There are several sorts of GameFi firms to choose from, and you must select one that meets your requirements. If you need content creation or SEO work done, you should look for an agency with a good reputation in these areas or choose an agency for its media and strategy experience. So, before considering whether you need to run a full-fledged brand campaign or just some social media help, make a list of your objectives and then choose an agency that will help you achieve them.
Once you’ve prepared a list of your objectives, remember that "one size fits all" cannot work here. You might come across many agencies that focus on aesthetics over content when creating websites. However, based on what they promote on their website, you should be able to get a reasonable sense of their capabilities. There will be case studies of their previous work, which you must carefully examine that can help you make an informed decision.
Budget will play a key role in the marketing agency you ultimately settle on. The cost of digital marketing varies depending on the services you want. In terms of rates, however, different marketing agencies have criteria. Go for a company that adheres to market standards and works within your budget.
Is the GameFi app still in the development stage? If yes, Convey that to the agency you will choose. Employ a digital marketing agency that can grow with you as your GameFi app grows and evolves. Gaming is a dynamic market, and specialist gaming companies (typically staffed by marketers who play games) keep up with industry trends and grasp the subtle variations between marketing games to Generation Z and selling to millennials.
Marketing is an investment. If it goes wrong, you will lose a lot more than just money. Look at some of the client-facing practices that each gaming agency has employed. What methods have they used in the past to market the GameFi apps? Learn more about the steps or processes they would follow to plan market campaigns for your GameFi app. Some other points to factor in:
1. Strong knowledge and love of the gaming industry:
Take a keen interest in how the agency promotes itself. Are they truly immersed in the gaming industry? The insights they share will be a testament to that. How is their website designed? Do they have a social media presence? These aspects matter so that you can get a pulse of the agency.
2. Understanding of the GameFi economy:
GameFi is a specialized section of the gaming and crypto universe. One needs to understand both to navigate the many details about it. Ideally, you should check a marketing agency's blogs and websites to see mentions of GameFi and related knowledge resources to check their understanding of these industries.
3. Experience in the areas you require:
Firstly, find out if the agency has any prior experience with the services you are looking for. If they do, check out their approach and see whether it aligns with yours. If not, you will have to bring their team up to speed, but this would require time and resources from your end. So, make sure you keep in mind all this beforehand.
4. Experience with other games:
If an agency offers you a team of employees with basic gaming expertise and nothing else, they will be unable to comprehend your business goals. An experienced game marketing agency will know what motivates gamers to participate in the game and their preferences. For further proof, you can request the agency for a case study on their success with another GameFi app.
A good marketer anticipates how players will respond to specific features or decisions before they are implemented and will manage your expectations while also adapting the consumer-facing information. You will develop a deeper understanding of who you are making the game for, as well as why people will buy it, in collaboration with marketers. Overall, your team will be more focused and data-driven, ensuring that your game achieves the success it deserves.
5. Powerful testimonials:
Check out client testimonials before hiring a digital marketing agency for your GameFi app. You can always look up the online reviews. Too many negative reviews are a sign that you should continue your search. Is there a design, content, or video that you liked while looking at their earlier work? It's essential to gauge that the agency you have picked can deliver results.
When game developers collaborate with generic marketing organizations that don't understand the gaming industry's methods and features, they might run into problems. You won't be able to run campaigns you want if your agency doesn't understand your needs.
Here at Game Marketing Genie, we take the guesswork out of the equation and use our decades of expertise to execute effective campaigns. With one free consultation call, you can find out if our team of specialists can deliver what you want. Our gaming marketing agency can offer a full-service package or satisfy your niche needs in PR, ROI boost, SEO, ASO, growth hacking, and more. Book your free consultation today! Click here.