More firms in the cryptocurrency industry are leveraging the popularity of gaming to create Web3-enabled games as they aim to improve customer engagement.
Speaking at Paris Blockchain Week, Alex T, CMO of $DOGS, a Telegram-native memecoin, highlighted that the familiarity of games plays a key role in building trust between users and the platform.
“For many projects, the challenge is how do they grab attention? How to make sure they retain it for the long term? Games, especially ones they [customers] are familiar with, is one of the best ways to move forward,” he said.
Robby Yung, CEO of investments at Animoca Brands, agreed that gaming’s familiarity makes it a powerful tool for customer engagement. As one of the most popular forms of entertainment, gaming naturally serves as a gateway for onboarding new clients, he said.
“As far as consuming entertainment in ways that utilises digital asset infrastructure, games are at the leading edge. They are the natural complement,” he said.
Yung also noted that gaming not only attracts new customers but also helps build loyalty. However, he acknowledged that while customers typically enjoy the gaming experience, they often require some form of incentive to maintain retention.
“If I have a choice of two airlines, and the price and everything else is equal, I will pick the one where I get more points because I already have an investment in that loyalty program,” he says.
“I see gaming the same way. You don’t play a game, necessarily, just for the points, but if I have a choice of two similar games that I like, and one pays me. I’ll pick the one that pays me.”
As more companies recognise the value of gaming in driving engagement, its use is expanding beyond cryptocurrency and DeFi firms, beginning to make its way into the marketing strategies of traditional financial services companies.
Yung pointed out that one major development in the industry today, compared to three or four years ago, is the emergence of a complete ecosystem of companies that support the gaming sector, particularly those offering payment solutions.