Helping the GameFi track craze, how Web3 social network Soulbound redefines the gaming experience

Whether it is seen from the increasingly high number of users and transactions or the high-frequency and high-value financing activities, the popularity of SocialFi projects such as Friend.tech and Farcaster is making this track a hot topic. At the same time, the GameFi track, which has been dormant for a long time, has also ushered in the "Indian Summer" in the near future, but it is still difficult to overcome the dilemma of large-scale application.

As the market continues to heat up, Soulbound, which recently launched the Galxe Quests event, deserves attention. As a Web3 social platform focused on games, Soulbound allows gamers to earn money, showcase their skills and communicate with like-minded people by integrating UGC, NFT derivatives and game distribution into its social network functions.

Combining social networking and Web3 to innovate game experience and value

Currently, the market’s interest in and participation in GameFi is increasing day by day. According to Google Trends data, the search popularity of GameFi has increased by nearly 69.5% since the beginning of this year. At the same time, according to a report released by DappRadar in mid-May, the total investment in blockchain games reached US$288 million in the first quarter of 2024, and the total investment in this field in April reached US$988 million, which is the highest since The highest level since January 2021. At the same time, the number of unique daily active wallets for blockchain games also reached a record high of 2.9 million.

At a time when GameFi is showing strong signs of recovery and growth, Soulbound’s launch of the Web3 social network for gamers will help the GameFi ecosystem grow better. Soulbound features in-game missions with partners, allowing players to earn rewards for completing missions and track their progress on leaderboards. Player rewards also come in various forms, including exclusive sticker packs, tokens, NFTs, game items (such as weapons, skins, and other game resources), etc.

Among them, Soulbound’s gamified task platform can track players on the chain On-chain and off-chain achievements to create comprehensive gamer profiles. Not only does the profile serve as a badge of honor to showcase a user's achievements and accolades, and give them access to exclusive offers and rewards, it's also a way for gamers to show off their skills and connect with users who share their passion for gaming. And the personal profile on Soulbound is not limited to avatars in the traditional sense, but also provides a comprehensive portfolio, including displaying the user's content, activities, purchases, earnings and social interactions, etc., and users can also earn through followers and creators and other metrics to track your growth and influence on the platform, thereby creating a personalized space that reflects your gaming journey.

At the same time, adhering to the principles of fairness and sustainability, Soulbound continues to generate revenue through transaction fees, brand partnerships and premium feature subscriptions, redefining online interaction and empowering gamers and creators. At the same time, it also provides them with more monetization opportunities, which also provides more possibilities for the sustainable development of the platform.

In addition, Soulbound has also pioneered the Sticker Store specially set up for the community, allowing users, artists and brands to create and sell sticker packs made from NFT or original images in this market, not only for artists and creators Providing new sources of income will also activate the innovation capabilities of the game market. Soulbound facilitates collaboration between artists and game brands in the mission system, where they can create exclusive sticker sets as part of the game mission rewards. While artists have access to the gaming community, top games' collaboration with these Web3's most popular artists will also elevate the art of Web3 games to the AAA level.

Of course, Soulbound’s homepage will track popular sticker trends so that game developers can discover the most popular artists on social platforms. The Sticker Store will also provide comprehensive statistics on sticker popularity and usage, and will become a center for digital expression and commerce. It’s worth mentioning that the entire bounty system also provides streamers with additional opportunities to monetize content and integrates seamlessly with their current streaming platforms.

Simply put, Soulbound sets new standards for games by combining social networking, gamification, and NFTs, allowing players to truly own digital identities and achievements while cultivating a community based on fairness, collaboration, and true ownership. community, thereby providing a new gaming experience and value for gamers, streamers, guilds, artists, etc.

Introducing a dual-token economic model and establishing a creator economy

Compared with the centralized social platform business operation model, the incentive mechanism is an important innovation of SocialFi and a powerful tool to encourage user participation . Soulbound is building project value and increasing player activity through a dual-token economic model and a creator economy.

In terms of token economics, since the previous Axie Infinity fire, the dual-token economic model has become the standard configuration of GameFi in recent years, and Soulbound is no exception. At the heart of Soulbound’s dual-token economy are Soulbucks ($SBX), an ERC−20 ecosystem token that serves as the primary medium of exchange within the platform and has multiple uses. Users will be able to use $SBX to reward them Like meme posts, gameplay clips, Twitch videos and streams, or buy/gift stickers to their Soulmate. The introduction of the token not only provides users with more choices and flexibility, but also makes Soulbound’s user experience more engaging and rewarding.

$DRIP is another core token of the Soulbound ecosystem, mainly used for user rewards and Interact with content, play games and complete tasks, but are not transferable. Users can earn $DRIP points by completing tasks on the Soulbound platform, placing stickers on liked posts, and creating and sharing content. Of course, users can also earn more $DRIP by affixing stickers to content, recommending friends, and creating communities. The $DRIP score will help quantify the reputation players have established in Web3 games, and can also unlock tokens. The rewards and airdrops of $SBX and upgrading their account levels will also encourage users to participate more actively in platform activities.

In the context of decentralization, Soulbound has also established a more interactive creator economy. Timeline Feed is a featured feature of Soulbound, which provides users with a space to create, share and interact with content. From memes to gaming videos, Timeline Feed showcases user-generated content that deepens and fosters connections and conversations among gamers.

At the same time, functions such as "post", "comment" and "share" will also enhance player engagement, allowing users to meaningfully interact with content. It is worth mentioning that Soulbound has recently launched a reward function. High-quality content can be rewarded in a peer-to-peer manner. While increasing the way to monetize content, it will also help encourage users to create higher-quality content.

In summary, Soulbound not only enhances the participation and value of game players by providing rich content creation, diverse interactive functions, and motivating economic models, but also promotes the sustainability of the platform. Development and growth potential.

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