Touchpoint Welcomes HiFi Gaming Society

Oct 5, 2022

Initiating the Next Phase of Crypto Gaming

In light of the number of new crypto games hitting the market, observers have called 2022 “the year for crypto gaming”. Does this mean crypto gaming is about to reach its tipping point into mainstream acceptance? Not quite: to achieve mass popularity, crypto games need to attract regular gamers outside the web3 bubble, not just dedicated crypto fans. But several barriers prevent gamers from fully embracing crypto, including the cost of tokens or NFTs, as well as the risks and volatility of crypto.

We are, therefore, all the more pleased to welcome to the Touchpoint Open Builders Program HiFi Gaming Society, a project that wants to make it easier for anyone to enter the world of crypto gaming and explore different games and gaming communities. Read on to learn how HiFi Gaming Society plans to foster the age of Crypto Gaming 2.0.

The problem: Web3 “play 2 earn” games aren’t gaining line of sight into massive gamer communities. The incentive aspect doesn’t and shouldn’t outweigh the fun gamers expect to have, and web3 games aren’t bringing enough enjoyment. For this reason, many gamers are looking for a way to explore and discover web3 gaming without having to make a big commitment in terms of focus, time, and especially cost.

Meanwhile, off-chain game developers wanting to get involved in web3 have identified many risks for transforming existing player systems into web3-enabled environments. Major risks include cost, quality, and sustainability.

The solution: HiFi Gaming Society acts as an entry point for players seeking to explore web3 gaming with rewards and incentives. Our platform combines off-chain and on-chain workflows in a fun and engaging way to help users decide what gaming ecosystems to participate in. We’ve developed “earnables” as a discovery workflow for players to learn about our partner’s web3 gaming environments. Players who elect to participate can complete offers and earn rewards with incentives to increase their reputation.

Economy
Image: HiFi Gaming Society.


Earnables include elements of scarcity like use limits and expirations to drive demand. We also provide additional fun for gamers looking to earn with our mission packs (another form of earnable) to allow gamers to activate earnings for many different Steam games (the Steam platform is integrated into our platform). Additionally, we’ve published our own hyper casual games with our larger game and metaverse in development. We’ll soon launch our integrated NFT marketplace where brands can showcase NFTs to engage communities and we’ll release various HIFI-branded NFT collections paving the way for reputation-based badges and brand-building toward our metacommerce.

Combining your game and community with our platform is a great way to increase active users. We enable game developers to publish their games, build incentives for exploring their ecosystem, and we promote the games and communities with competitions and events. We aim to make onboarding extremely simple.

Our seasoned team - representing talent across USA, UK, Germany, Vietnam, and Indonesian - come from gaming, decentralized finance, recruiting/employment technology, and fintech/blockchain. Web3 continues to attract massive investment and will unlock value for everyone who has a stake in gaming, including game developers, brands, publishers, players, artists, influencers, and guilds.

We also understand it is necessary to be an efficient business with clear revenue channels. Many games and web3 products fail because they forget this very important aspect. We aim to sustain our ecosystem with scarcity, token buybacks from revenue earned from integrations, NFT marketplace purchases, fees, and ad revenue generated from quest conversions. We also burn a portion of our transaction fee revenue regularly.”

Can projects like HiFi help kick start mainstream adoption of crypto games? We’re eager to find out when HiFi Gaming launches on Shimmer. In the meantime, visit https://hifigamingsociety.com to find out more.

About Touchpoint

HiFi Gaming Society joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to funding, experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Shimmer networks. You can learn more about how Touchpoint works and how to become a part of it here.

About Assembly

Assembly is a scalable multi-chain network for sharded, composable smart contracts. It will deliver flexibility, scalability, and interoperability, and is a smart contract network for mainstream innovation and mass adoption. It does so by offering inexpensive, fast, and secure smart contracts, trustless and feeless smart contract interoperability, full customization and composability of dApps, compatibility with Ethereum virtual machine, and other benefits.

In Assembly, anyone can launch their own smart contract chains with the flexibility to customize fee and incentive structures. The chains are overseen by permissionless and decentral dynamic validator committees of nodes that execute and validate smart contracts; these validators are assigned to their chains by a root chain through a marketplace, and the validators are rewarded with the network’s native token, ASMB.

Disclaimer

Every project that participates in Touchpoint is given the opportunity to introduce itself in its own words. Statements made by projects are not verified by Touchpoint, Shimmer, Assembly, or the IOTA Foundation and should not be taken as an endorsement. Individuals are advised to always conduct their own due diligence when engaging with any crypto projects.


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