Missed a GamesBeat Summit Next 2022 session? All sessions are now available for viewing in our on-demand library. Click here to start watching.
Mighty Bear Games has been handing out free non-fungible tokens (NFTs) ahead of its arrival Mighty action heroes Web3 game. And it found a way to roll out the red carpet for fans excited to join a fledgling blockchain gaming community.
Simon Davis, CEO of Singapore-based Mighty Bear Games, said in an interview with GamesBeat that the company wanted to figure out a way to build the right community with the right supporters through the Red Carpet meta program. The company’s upcoming Mighty Action Heroes is a real-time multiplayer third-person battle royale available for early access December 16-18.
Instead of auctioning its NFTs to the highest bidder, Mighty Bear Games gave its MightyNet Genesis Pass NFTs to players for free.
To create the community from scratch, Mighty Bear looked to the blockchain itself to find people who had invested in other blockchain game NFTs similar to Mighty Bear’s whimsical battle royale title. And from the blockchain – the immutable ledger technology – it could easily tell how long those players had held on to their tokens.
It didn’t want to find players who would receive free tokens and then immediately flip them over to other players and sell the tokens for a profit, Davis said.
So the company started making its own tokens for Mighty Action Heroes. And it compiled a list of people it planned to invite to mint their own free tokens. These players were blockchain savvy per se, as you have to be to mint NFTs. So the company invited those people and gave them priority in hitting.
Recognize where NFCS are popular
While many Western gamers have expressed their hostility to NFTs, Asian gamers are welcoming the new tokens and business models, much like what happened to free-to-play games decades ago. Davis said the company has many fans in places like Hong Kong, Japan, Africa and other areas outside the West.
“I think that’s really cool. Web three is very big, especially in developing countries. And yet pretty much everyone I see is making games aimed at Western gamers,” Davis said. “And it’s like they’re missing the biggest opportunity and not really listening or observing who their community really is. And so we make games for our community, and we see that we have fans in India or Hong Kong or Japan and then we go out and build content that we know will resonate with them because we want our appreciation for them show and also their culture.”
Getting back to the hitting, the key to a successful blockchain game token is getting people to hold onto it. If everyone is a speculator and they sell their tokens quickly, it will inevitably result in the price of the NFTs crashing and everyone running for the door.
To discourage speculators, Mighty Bear set the coin price at around $15 worth of Eth, (0.01337 ETH), the cryptocurrency associated with Ethereum. Davis said the company didn’t want to price the minting of the tokens for hundreds of dollars; after all it is a game.
In the past, there were other currency strategies. Companies would ask fans to grind, follow and retweet on Twitter, hang out in the Discord community and otherwise be active in order to get a spot on the admit list. Then other companies started asking for applications and explaining why they should be on the accept list.
“We’ve taken a different approach, looking at the communities that we think really embody the values of the fanbase we’re trying to build,” Davis said.
The team identified a few thousand wallets belonging to people who had kept collections for a long time. It invited those people and thought about 30% of them would accept the tokens. They had to remember to appear on the mint days at the end of November.
After those players punched their tokens, the company opened the floodgates for a new batch of collections. And within minutes, the collections were all minted. While the number of tokens was limited, Davis said it was important to get the right players playing from the start.
Davis said he is proud of the game the team is building and that the company is proving that it is building a real game and it’s worth playing.
And it gave them incentives to hold onto the tokens for a long time.
Again, Mighty Bear wants the right communities to be part of the MightyNet community. Decentralization knows no boundaries and the right community or person can appear anywhere on the internet. The Red Carpet meta allowed the company to bring these people directly to the community.
For Mighty Bear, it’s really about finding people who are invested in and emotionally connected to the studio’s project, and who want to be part of the wider MightyNet ecosystem and Mighty Bear tokens for a long time to come want to keep it, Davis said. It will also reward those holders with in-game items that are valuable to those who play the game.
This is important at a time when holding tokens and cryptocurrencies is difficult. The market for both collapsed in 2022 and things like the bankruptcy of FTX and others don’t add to any optimism. Giving players an incentive to hold and real utility for the NFTs beyond a collectible.
As awareness of the Web3 space grows, it becomes more difficult to cut through the noise to find the right thing
communities that not only support a specific project, but also want to stay for the long term.
There is already so much competition in the space, even getting exposure for a new project is difficult.
“The other aspects of doing things right is to incentivize them to stick with it,” Davis said. “You find the right type of person to hang onto it and then make them believe it’s going to happen. And if it does, it will be there for the long haul. And the way to do that is to have a real game.”
The Red Carpet meta approach can help Mighty Bear build an ecosystem from the ground up in the right way, or more specifically, the way they want to build: with people who share the same interests and values as Mighty Bear , and who want to contribute to the long-term success of projects to which they have been invited.
The company recently launched the MightyNet Genesis Pass through an invite process. The invitees had to meet specific criteria, such as being members of other communities such as CryptoPunk, Bored Ape Yacht Club, Mutant Ape Yacht Club, CloneX, Doodles, Space Doodles, landowners of Axie Infinity, and more.
In addition, Mighty Bear Games launched the Big Bear Syndicate PFP Collection (profile photo), which is more accessible and larger. It comes in a two-part collection, the first of which was released last weekend. It’s directly linked to Mighty Bear’s upcoming multiplayer third-person web3 native battle-royale, Mighty Action Heroes, so the studio wants Red Carpet gamers and so invited people from other web3 gaming communities to join the community.
Ahead of the BBS coin last weekend, Mighty Bear rolled out the red carpet to gaming communities. Holders of any of the following game-related collections were invited to participate in a raffle with committed
place them on the admission list for their community. All lottery links for places on the admission list have been released on Twitter via the @PlayMightyHero account.
The Big Bear Syndicate is the MightyNet’s Gen 1 PFP Collection. Be part of the Big Bear Syndicate of
holding a PFP (or several) will set players up for success in the game.
Members who own this collection are guaranteed the world’s earliest access to Mighty Action Heroes, a top-notch battle royale built for the blockchain, and have additional utilities right at their doorstep.
Perks for holders include using the NFTs as a PFP or an in-game avatar, playing Mighty Action Heroes before someone else on the very first early access weekend, and hibernating your bear characters to earn honey and that exchange for in-game rewards.
Holders will also receive special holder-only skins for in-game use, can invite friends to join the early access squad in Mighty Action Heroes, and get instant access to a collection-specific section for holders of the Mighty Action Heroes Discord.
While batting, Davis kept an eye out for people who had technical issues with wallets or access to NFTs.
“I would say one of the barriers to mass adoption is not just the chore of buying cryptos, which is big enough, but also just the fact that it feels scary,” he said. “And it’s not intuitive. And so I think as a developer, we have a responsibility to move the space forward as well. So we’re looking at ways we can help people make these things easier. So I hope we can tell you a bit more about the current model.”
Regulations don’t necessarily make it any easier. For example, Mighty Bear Games can punch the NFTs themselves and then send an NFT directly to someone’s wallet. But if you send an NFT to the wallet of someone who is in an area where it is not allowed, you may be breaking a country’s regulations. So people should be responsible for claiming their own NFTs and minting the tokens themselves.
As for the response to the coin process, Davis said, “People are very happy with the way the team communicated, and the actual coin process on the site was very smooth, very error-free. The price of the assets we released have remained fairly stable. And it shows that people really believe in the ecosystem.”
Mighty Bear Games will continue to work on the game through early access and will hopefully launch the title in the middle of next year. If people wait that long, they will be rewarded.
“People who lock their tokens show their commitment to the ecosystem. And so we reward them with endgame goodies. So we’re looking at how we can reward people more generously the longer they keep their NFTs,” he said. “When the game launches, they’ll have a ton of game items and heroes and cool stuff to play with, some of which will only be available to people who lock.”
Davis doesn’t necessarily expect any given price to be the bottom. He knows that if you have only 3% to 4% of the total supply at any given point, that’s a healthy market.
“I think, more importantly, we’re just showing people that there’s value, and things are coming to the game, and it’s worth holding on to,” he said.
GamesBeat’s credo in covering the gaming industry is “where passion meets business”. What does this mean? We want to tell you how important the news is to you — not only as a decision maker in a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat helps you learn about and have fun with the industry. Discover our Briefings.
Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.