How to Monetize Your In-Game Items: A Guide for Developers

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Web3 has changed the way we play games. The whole user experience has been revamped, from onboarding to buying in-game assets. One of the best things about web3 is monetization. Now you don’t need to become a big creator to start earning while playing games. Even new gamers can start blockchain games play to earn from day one. Not only gamers, but even companies have also increased their source of revenue. Companies have also started to find more ways to monetize their game and increase the time players spend on their games. In this article, we will know what are the different ways to monetize in-game items from a developer's perspective.

Different ways for developers to monetize

Monetizing in-game assets are one of the main sources of revenue for many gaming blockchain projects. Earlier gaming companies were very limited in their source of revenue. But now with NFTs, Gaming companies have found new ways to monetize. Here are some of the proven approaches how to monetize your in-game items from a developer's perspective.

Subscriptions

It is a model which asks you to pay a monthly equivalent fee in place of upfront costs. This model is used massively in multiplayer online (MMO games), where players pay a subscription fee to access the game’s servers, exclusive content, and special missions.

It offers players a sense of exclusivity and community, as it is only for those who have paid the subscription fee. This is not only used by gaming companies but also by big gaming platforms like Xbox, Amazon Luna, and PlayStation. Popular games that use this model are:

World of Warcraft

Final Fantasy XIV

Loot Boxes

Loot Boxes are a kind of virtual box in games that are accessed either through gameplay or are purchased with in-game virtual currencies or real-world money. Loot boxes are randomized rewards, which increase the anticipation of gamers of what is in the loot box before opening it.

Although loot boxes can be very poorly implemented, there are still responsible monetization options such as blind buys that can be used. The thrill of finding a rare cosmetic in a loot box is unbeatable. Popular games that use this model are:

FIFA series

Overwatch

Call of Duty

Cosmetic Upgrades

Selling cosmetics or skins can lead to the ultimate way to express individuality. Cosmetics usually means clothing, accessories, or even unique skins for player avatar and their gear.

There are two ways people can earn skins: first is by playing and in return, you get basic cosmetics, but if you want to earn special and limited skins, you need to pay real money to buy them.

Players tend to want to assert their status within only games, so making skins available reflects certain achievements. Famous games that use this model are:

Fortnite

Dota 2

Star Wars

Season Passes and Battle Passes

Season Pass or Battle Pass is a way for players to access additional content and features during a specific game season or a period of time. This includes new characters, skins, weapons, levels, and other upgrades. This also increases players’ gaming experience and increases engagement over a longer period of time. This is also one of the major sources of revenue for these gaming companies. Popular games which use these models are:

PUBG

Fortnite

Opt-in Events

Opt-in events refer to the optional events or activities that are organized by the communities to increase engagement. These events are not mandatory, rather they provide an opportunity for higher engagements and possibly earn unique rewards or bonuses. This is also done as a form of marketing to attract new gamers to their platform.

Limited Time offers

Limited-time offers are those in-game promotions that create urgency in gamers to perform a particular transaction. It is also a kind of promotional event which is usually done to encourage player engagement and increase revenue.

They may include special in-game events, time-limited challenges, limited-edition items, or in-game currency bundles.

Tips for increasing users’ purchases of in-game items?

Blockchain games earn money via in-game items marketplace

It’s a matter of fact that in game items are one of the major sources of revenue for any gaming company. So it is very important for developers to create the game in such a way that gamers are being promoted to do more transactions than average. Here are a few tricks which can help to increase the transactions in the games.

Offer Unique Benefits.

Give offers to regular users

Focus on a selected niche

Introduce Scarcity

Provide limited-time offers

Listen to player feedback

How can developers use NFTs properly?

NFTs in game are really one of the biggest opportunities in the gaming industry. There are many cases of crypto games project make profit via nft blockchain game, as well as large gaming conglomerates are trying to create closed ecosystems with game nfts . In the end, it’s all up to the developers how they use NFTs in their games. Having a proper login system, or creating a in-game item marketplace where buyers and sellers can buy and sell their assets is what a real game is looking for.

Since NFTs are a new technology, developers find it harder to implement a flawless experience for gamers. Especially there are other problems like regulations, privacy or user onboarding is a big problem for developers.

Make Real Crytpo Games Without Investment

Platforms like Mirror World helps developer to implement NFTs in the game in a very easy process. Whether it is creating a custom in-game marketplace or a proper user onboarding system. Mirror World handles easily with the help of SDK tailered to various programing platforms that game developers are familiar with.

Mirror World Smart Platform Chains and Platforms Support

Now developers can also easily implement NFTs in gaming and help users onboard into their games and start building crypto game without investment. In the upcoming years, we are going to see a lot of most profitable blockchain games with NFTs, it’s up to you how you use NFTs and integrate them with your game.