After the popularity of TON mini-games temporarily faded, the voice of the blockchain game track seemed to have subsided. However, in recent major industry exhibitions, such as Singapore Token2049, Bangkok THBW2024, and Dubai Binance Blockchain Week, we can see the vitality of blockchain game projects, and the active figures of new and old blockchain games can be seen in the key booths. Among them, Seraph has attracted a lot of attention with its positioning as a next-generation AAA blockchain game and its eye-catching design. This article will try to analyze Seraph's game design, economic model and globalization strategy, and explore how blockchain game track projects can break through bottlenecks and the inspiration they may bring to the future development of GameFi.
Project Background
Seraph is a AAA loot game developed by Seraph Studio. The project has received over $10 million in investment, which is sufficient to achieve its goals in technology research and development, game development, and ecosystem construction.
Seraph started A test in April 2023, and has gone through B test, Chaos Legacy Test, Preseason and Season 0. Season 1 will start soon. Official data shows that the number of participating players has reached 90,000. It is currently the top game on BNB Chain. Seraph booths are set up at BNB Incubation Alliance (BIA) live events, and it is exhibited near the entrance of the main exhibition hall at the Binance Blockchain Week event in Dubai. Richard Teng, CEO of Binance, took a group photo and tweeted, which indirectly showed BNB Chain's strong support for its ecological leading project.
According to the data officially displayed by Seraph, its player base is widely distributed in many countries and regions around the world, with relatively prominent markets in Europe, North America and Southeast Asia, and fast user growth and high activity. The Southeast Asian market may have a higher acceptance of blockchain games, with more obvious player numbers and growth rates. Seraph has currently achieved revenue of over 10 million US dollars, mainly from service fees collected from players' paid top-ups in the game and free trade of NFT-based equipment between players.
Game content: Classic gameplay that has been proven in the market
Seraph currently supports PC and Android, and will be available on Steam, Google Play and iOS in the future. The game graphics and gameplay belong to the classic ARPG (action role-playing). Players use magic or combat skills to kill monsters and bosses in a dark world of Western fantasy style. In the process of coping with more difficult challenges, they constantly obtain weapons and equipment with stronger attributes and cool appearance through monster drops.
Simply put, after entering the game, you first create a game character, then accept tasks to experience the plot, operate the character to move, attack, and use skills to defeat the enemy and pass a series of challenges. During this period, you will continue to familiarize yourself with the character's skills and gameplay, and upgrade to level 60. After level 60, you will enter the core gameplay of the game, that is, the treasure-hunting gameplay. Players repeatedly challenge monsters and bosses in more difficult dungeons to obtain more advanced and rare equipment to improve themselves, forming a positive cycle of treasure-hunting games. With multiple difficulty levels and different gameplay season modes, you can experience more difficult challenges and fresher and more exciting game experiences.
It should be noted that the watershed between Seraph's Web2 and Web3 is the treasure-hunting stage after level 60. Although you can continue to play the game by swiping treasures, if you want to use the game process to swipe treasures and trade to earn profits, you need to buy an NFT equipment with real money (equivalent to the "entry ticket" and start-up capital to make money), and then participate in specific challenges to obtain randomly dropped treasure chests to open valuable NFTs, NFT fragments or out-of-print costumes.
Accustomed to the common click-based games and light-playing games in the blockchain game market, it is no exaggeration to say that Seraph's graphics and content are somewhat "surprising", and it can indeed be said to be benchmarking Web2 AAA games. The basic systems such as character upgrades, skills, and equipment are complete and in-depth, and you can form a powerful BD (school) through skill learning and equipment matching. If you are a deep Web2 game player, these will feel very familiar and easy to use. This set of gameplay has almost spanned the entire Web2 game era and is still popular today. It can be said to be enduring and fully verified by the market.
Within this gameplay framework and without affecting the underlying fun of the game, Seraph seamlessly integrates the NFTization of equipment and the free trading market between players into the game to build a self-sustaining in-game economic system. This idea is more reasonable and easier to accept for a gamer.
Economic Model: “Everything is tradable” and “Play and Earn”
Seraph's economic model combines the concept of "everything is tradable" with "Play and Earn" to create a self-sustaining and sustainable game economic system by allowing players to trade in-game equipment NFTs:
1. NFT-based equipment: All gold-making equipment in the game are tradable NFTs, and players have the opportunity to obtain them from treasure chests when they clear dungeons in the game. These equipment not only have game attributes, but also have different rarity and collection value, and can be sold to other players on the trading market within the game platform to earn profits.
2. Player-driven free trading market: The built-in trading market of the game can trade all assets in the game. Players set their own prices, and market supply and demand determine price fluctuations. The decentralized market mechanism enables players to truly own the assets in the game.
3. Revenue mechanism and “play and earn” model: Players obtain equipment and props through in-game treasure hunting, monster fighting, cooperative challenges, etc., and trade them in the market, thus realizing the possibility of obtaining actual economic returns through gaming behavior.
4. Self-sustaining economic ecosystem: As the number of players continues to grow, the market demand within the game will continue to expand, driving more transactions and liquidity. This will continue to enhance the stability of the entire ecosystem, and continuously improve the gaming experience and revenue potential.
Comparative Analysis of In-Game NFTs and Artwork NFTs
As mentioned before, Seraph currently generates over $10 million in revenue, part of which is based on the trading of in-game equipment NFTs. We know that the NFT sector seems to have become a thing of the past, and even NFTs are scary to talk about. However, Seraph, an NFT ecosystem based on in-game weapons, equipment, and items, shows a different picture. Here is a simple comparison between the NFTs released by mainstream artists/celebrity and Seraph:
1. Source and acquisition method: Artist/star NFTs are mainly given value by personal brands. Their generation has nothing to do with actual use and is more dependent on the creator's popularity and fan base. This type of NFT is acquired in a single way and is usually acquired through purchase, lacking interactivity. Game equipment NFTs are acquired by players through clearing dungeons or through synthesis, and are directly linked to the player's efforts. This acquisition method increases the fun and sense of achievement, while also allowing players to have a higher sense of recognition of the value of the item.
2. Functionality and applicable scenarios: Artist/star NFTs are mostly collectibles, with only ornamental value or symbolic significance, and lack practical functions. Their value comes more from fans’ emotions or limited scarcity rather than actual use; game equipment NFTs have relatively clear functionality, which can enhance player character attributes, improve gold-making efficiency, etc. Players can not only collect them, but also trade them inside and outside the game to realize economic value. This practicality makes them more attractive.
3. Market driving force and value stability: Artist/star NFTs rely on the brand influence of the creator. If the creator’s popularity declines or market interest shifts, their value is likely to fluctuate or even return to zero. The value of game equipment NFTs is determined by the supply and demand relationship of the in-game ecosystem. Rare equipment is directly linked to market demand. If the game is active, the liquidity and value of the equipment NFT will stabilize accordingly.
4. User participation and interactivity: The process of obtaining artist/star NFTs is simple, and users only need to purchase them, lacking a sense of active participation. This passive consumption model may make it difficult for users to maintain their enthusiasm; game equipment NFTs are obtained by players through game behavior, and the participation process is interactive and interesting. This model encourages players to continue to invest time and energy and improve community activity.
In short, compared with the single attribute and volatility of artist/star NFTs, game equipment NFTs perform better in functionality, market driving force and user participation. Artist/star NFTs are too dependent on the personal influence of the creators. Once the popularity declines, their value is difficult to maintain. Equipment NFTs are part of the game experience. Players can not only enhance their sense of achievement in the game through use, but also obtain actual benefits through transactions, which is more sustainable. Therefore, although the scope of application of game NFTs is limited by the audience of the game itself, its design logic and transaction value are more reasonable.
Seraph's revenue data is a verification of the maturity and effectiveness of its NFT economic model, demonstrating the strong self-sustaining ability of this model. The economic returns obtained by players in the game experience will further expand the appeal of the game and bring in more players, and more players will further promote the healthy development of the in-game trading market. On this basis, Seraph continues to update the game content to give players a fresher gaming experience, which can form a positive economic flywheel.
Asset Management System: Lowering the Barrier for Web2 Players to Enter Web3
The main obstacle that Web2 players face when entering Web3 games is the complexity of blockchain technology, including wallet creation, private key management, and on-chain transaction processes. Seraph links the ActPass account and asset management system in the game. Players log in through email/account, abstract the encrypted wallet and private key management links, build in MPC wallet, and manage assets and transactions in ActPass. This design has the following advantages:
1. Generate a wallet with one click, making the operation more convenient: Most Web3 games require downloading and configuring an independent wallet. ActPass is integrated into the Seraph game. Players can generate a wallet with one click and bind their account directly without jumping to external applications. This design is similar to the email or social login method of Web2 games, which can significantly lower the threshold.
2. Built-in asset management, reducing operational burden: Asset management in blockchain games usually involves complex on-chain transactions, while ActPass stores digital assets such as equipment and props directly in the built-in wallet, supporting fast transactions and management within the game. Players can complete operations without switching platforms, eliminating the cumbersome signature process.
3. Hide complexity and optimize user experience: ActPass automatically handles gas fees, allowing players to pay with fiat currency or stablecoins, shielding most blockchain technical details. Players do not need to learn additional complex processes and can focus on game content, which makes the experience smoother; at the same time, thanks to the low gas, fast speed and security of BNB Chain's second-layer network opBNB chain, players can save gas costs for transactions, item uplink and downlink, and other activities.
In short, this design keeps the game content and the Web3 asset management system isolated to a certain extent, avoiding the bad experience of repeated asset verification and wallet interaction in many Web3 games. This can effectively lower the technical and psychological barriers for Web2 players to switch to Web3 games, bringing higher user conversion rates and market penetration, and can be regarded as an excellent solution to link Web2 and Web3.
Exploration of incremental markets: the bridge between Web2 and Web3
In the context of fierce competition in the stock market, expanding new user groups has become an important task in the Web3 field. As a representative of the incremental market of Web3, blockchain games are an important way to attract Web2 players to enter Web3 with their high user stickiness and interactivity. In particular, AAA-level heavy-duty blockchain games, compared with traditional light blockchain applications, rely on higher technical levels, stronger immersion and richer ecology, bringing new possibilities for Web2 user conversion.
Through the above analysis of Seraph, here are some design ideas for similar games that can be used as reference:
1. Lower the entry barrier: Integrate a convenient Web3 wallet to simplify asset management and transaction processes, allowing Web2 players to participate smoothly without complex blockchain knowledge.
2. Strengthen economic incentives: Adopting the "Play and Earn" model, players obtain NFT equipment through game behaviors (such as brushing treasures, challenges), and obtain actual benefits through market transactions, thereby enhancing their motivation to participate.
3. Provide an immersive experience: Through high-quality graphics, rich plots, and diverse gameplay, the game is closer to the traditional AAA game experience, making it easier for Web2 players to accept and invest.
4. Balanced economic system: Maintain an active trading market and promote long-term player participation by properly designing scarcity and market supply and demand (such as limited equipment or functional props).
The potential of the incremental market for blockchain games cannot be ignored. According to BusinessResearch's forecast, the GameFi market size is expected to reach US$90.51 billion in 2031, with a growth space of 10 to 15 times. In the current bull market, the blockchain game track has not really taken off. It is hoped that with the emergence of more high-quality blockchain games, the simple and rough impression of Web3 games will gradually change, and bring more players to the Web3 industry.
