The metaverse is a fast-growing and fascinating world where the limits of technology, interaction, and community all meet. When creating a metaverse for people to join and use, it’s important to remove barriers from entry, and allow everyone to play at least in some basic experience. One of the largest barriers of entry to a starting metaverse is price.
The metaverse we have created, Metaversol, is completely free to play and explore. This provides many benefits to the project overall, from user growth to marketing. Let’s together dive into the specific benefits of a free metaverse game, and why we believe it’s the best choice for users and the game itself.
Community is an Important Metric in the Metaverse
Whether your favorite metaverse is focused on land and building, or playing games, it’s essential to have a strong and diverse community to support the game. No one likes joining a game server and seeing only a few people in it, or having to run around for minutes just to find a sign of life. A substantial (based on the size of your metaverse perhaps) and growing community is important to maintain a good user experience. If you have player vs player or team vs team games in your metaverse, who will you play with?
The players of a metaverse project often become the providers of social media marketing growth and virality. If the metaverse has a solid community, they will often have solid social media marketing support, but only if their metaverse and games are an actual fun shareable experience. These brand evangelists will grow the metaverse project faster than most any other marketing plan, likely increasing users and any sales very quickly. With a paid metaverse experience, you’ll have much fewer of these fans, which can make it more difficult to benefit from the social crowd aspect of marketing.
Reducing Friction to Registration & First Time Play
Many games on Steam and even for video game consoles don’t do very well in the long run. Friction, essentially the difficulty in initially onboarding players to your game, comes in many forms, from game size (hard drive space is a limited resource for many) to initial cost to play.
If you want a global metaverse experience, fair for all to access, even those without extra money to play, you want it to be free. It’s also often a jarring experience to start a game or metaverse for the first time and be asked for a credit card payment or similar. In the web 3.0 cryptocurrency world, some users dislike being “doxxed” or going through KYC (Know Your Customer) just to try out a new game or technology.
Ways to Monetize a Metaverse Instead of Charging for Access
It’s important to note that hiring developers, designers, and a whole team to create a fun and playable metaverse experience is not an affordable endeavor. Developers and 3D graphic designers are not cheap, and shouldn’t be for their skilled labor. On top of that, metaverse companies have marketing, legal, leadership, community managers and many other compartments that require proper funding. So where do these companies get their funding?
A game/metaverse studio has a variety of options for obtaining funding for their project. With big companies like Meta (Facebook) setting a high bar by proposing to take a large percentage of sales of any in-metaverse items. That model has not been met with positive feedback from what we have seen. Another model is monetizing certain features or benefits in the metaverse, as we have chosen to explore with our NFT Passes, each used for claiming 1 plot of virtual land in Metaversol, as well as the number of placeable items in your metaverse property. A 3rd model is charging a fee to play and/or access the full metaverse, which as we have discussed above creates some friction and community growth problems. The final model for raising of funds is investors and venture capitalists (commonly referred to as VCs) The traditional investor/VC funding option allows for quick growth and scaling, but of course comes with the downsides of outside influence and possible loss of control of a passionate team of their own project.
Additional streams of revenue for metaverse companies may be ticketing for events like concerts, renting of area or items, in-real-life merchandise sales, and many other facets of ecommerce and gaming that we haven’t yet explored.
It’s likely we will see many more ways for metaverse games to monetize their experience, from percentages of sales like Meta, to NFTs like we use, to the sale of characters (avatars), access to the full metaverse or parts of it, and more. We hope you find a metaverse experience that fits your needs and financial situation, and that you enjoy every minute of your journey. Thanks for reading 🙂