Abstract: The gaming industry is changing rapidly with NFT gaming trends overpowering traditional gaming. The global gaming industry is expected to reach $314.4 billion by 2026, registering a CAGR of 9.64%. Gaming is one of the fastest-growing industries globally, which is turning from a hobby-centric industry to a profit-making industry for gamers. The emergence of trends like NFT and Metaverse is fuelling the transformation within the gaming industry. With gaming turning into a profitable profession, an increase in the appetite is inevitable. The ambiguity in legal regulations, user experience, and market saturation are some of the factors emerging as challenges in traditional gaming. NFT gaming is aimed at tackling these challenges with better innovation and new technologies. Let’s have a look at Vulcan Forged, one of the top NFT gaming projects.
Goal: The vision behind Vulcan Forged is to build a community-based easy-to-play and easy-to-build gaming ecosystem.
Vulcan Forged: Vulcan Forged is a community-based project that supports developers through its development programs for the development of world-class blockchain games. It is a one-stop-shop where gaming enthusiasts can access popular games and trade digital assets on the NFT marketplace. Removing gas for game developers has been one of Vulcan Forged’s biggest achievements. It is a non-fungible token (NFT) game studio, marketplace, and dApp incubator with 10+ games, a 100,000+ community, and one of the top 5 NFT marketplaces by volume. VulcanDex, the world’s first cross-chain decentralized exchange for gaming, is a part of the Vulcan Forged ecosystem.
Approach: The NFT gaming industry is evolving with the emergence of NFT gaming ecosystems. Vulcan Forged has witnessed steady growth despite tough competition in the market. For decoding Vulcan Forged’s rise in the gaming industry, we are going to have a look at several factors.
Strong Team Comprising Seasoned Experts: The Vulcan Forged team comprises seasoned experts with years of experience in the gaming and blockchain industry. CEO Jamie Thompson is a seasoned entertainment professional with expertise in-game marketing, blockchain development, team management, and system architecture. The illustrators, designers, and blockchain developers at Vulcan Forged continue to power the project with highly interactive games and an enhanced user experience.
Increased Community Partnership: Partnerships play a key role in the rise of any project. Blockchain projects thrive on use cases, real-world adoption, and collaborations with other players within the crypto space. Vulcan Forged has partnered with leading players including Polygon, Artefy, Defi 11, Spark, Blockchain Game Alliance, The Sandbox, Vaival Technologies, and Venly. Partnering with top companies within the crypto space has helped Vulcan Forged reach a greater audience while unlocking access to more resources for the refinement of the project. Partnerships bring along great expertise and feedback from industry experts. Vulcan Forged has utilized these partnerships to market its project better, establishing a brand value. The platform collaborated with The Sandbox on Multiverse characters, benefitting from the multiverse hype.
Listing on Top Exchanges: Vulcan Forged’s primary token, $PYR is listed on leading crypto exchanges like Binance, Kucoin, Huobi, Coinex, and Bittrex. Listing $PYR on top exchanges including Binance, the largest crypto exchange globally has helped Vulcan Forged boost trading volume and bring liquidity to the ecosystem. $PYR price has seen steady growth since the launch, attracting substantial investment from gamers and crypto enthusiasts globally. $PYR is available for trading in $USDT, $USD, and $BTC trading pairs. This allows users the flexibility to trade at their convenience. Besides the economic gains, listing on top exchanges also boosts the brand value of a project. Top exchanges like Binance and Kucoin deliver confidence, legality, and security, helping a project in building a strong reputation.
Effective Marketing with PRs, Influencers: Marketing a project is vital to its success and Vulcan Forged has been doing it quite successfully. Crypto is an extremely volatile market where hyping a project occasionally can do wonders for the project. Vulcan Forged partners with top influencers globally to create hype around the project on social media platforms. Collaborating with top startup funding launchpads including Zuvomo has helped the project establish itself as a reputed play-2-earn gaming platform. Vulcan Forged continues to attract more and more gaming enthusiasts globally.
Major Investments: The expansion of Vulcan Forged has been fuelled by major investments including a VC investment by TDefi. Investors bring along a lot of connections and years of expertise. Vulcan Forged has capitalized on connections within the industry to scale and expand.
World’s First Gaming Dex: VulcanDex, the world’s first cross-chain decentralized exchange for gaming, is an integral part of the Vulcan ecosystem. On VulcanDex, users can stake their tokens to contribute to the ecosystem. Vulcan rewards the contributors with rare NFTs, attracting more and more users to contribute to the project’s liquidity. Hundreds of gaming NFTs are listed on VulcanDex’s NFT marketplace. Gaming enthusiasts and those interested in collecting collectibles can place their bids to purchase the NFTs. This brings a huge number of NFT enthusiasts to the exchange, adding to the project’s user base and popularity.
Strong Tokenomics: We evaluated VulcanForged’s tokenomics to develop an understanding of the project and the reasons behind such huge demand for $PYR. $PYR, the native token of Vulcan Forged, is a multi-utility token that is used for fee settlement, staking to obtain privileges, participation in Defi game launchpads, play-to-earn benefits, gaming platform pools, and discounted marketplace usage. 10% of the entire PYR supply is allocated to the LAVA (Play-to-Earn), capturing the P2E bandwagon as well, reaching a wider audience. The token utilities are clearly defined, adding to the project’s success.
Crowdfunding for Game Development: The project has successfully built a vibrant community by onboarding gaming enthusiasts who are allowed to fund the operations of third-party game developers within the Vulcan ecosystem. For every third-party funding, Vulcan retains a small margin of the interest rate on those loans (in PYR), adding to the gains.
Conclusion
Vulcan Forged has used partnerships, influencers, and marketing to attract participation from the gaming community. Jumping on the play-2-earn bandwagon, the project focuses on transforming gaming into a profitable business for gaming enthusiasts. Listing on top exchanges and collaborations with leading industry players has helped Vulcan establish itself as a reputable gaming platform. The hype around blockchain gaming has been used to the benefit of the project. Here are some of the factors that define the project’s success:
- A strong and experienced team
- Listing on top exchanges
- Collaborations with leading players within the crypto space
- Effective tokenomics with multiple token use cases
- Increased participation of the community
- Investments and Crowdfundings
- Effective marketing through influencers