TLDR
The next major application of Web3 is in gaming. Web3-powered games will operate on Layer 2, ensuring minimal transaction fees and high transactions per second (TPS). To seize this opportunity, early collaboration with game projects and expansion across different mainstream Layer 2 platforms is essential.
In just a short span since its inception in August, Identity Hub (IDHub) has successfully garnered a substantial user base, numbering in the thousands. However, the challenge we face lies in effectively harnessing this user base to propagate the value and capabilities of IDHub. This proposal delves into the factors currently limiting our user-base expansion and presents a strategic approach to address these challenges.
Challenges in Spreading IDHub
Unclear Usage Scenario: Many users who have engaged with IDHub find themselves at a crossroads after completing initial tasks, lacking clarity on subsequent actions. This uncertainty leads to a lack of motivation to advocate for IDHub within their networks.
Business-Oriented Nature: IDHub, being tailored for business-oriented purposes, necessitates a bridge between B-end customers and C-end users, a dynamic commonly referred to as the B2B2C model. This model has the potential to significantly enhance our reach.
Strategic Approach
To capitalize on the points mentioned above, our strategy revolves around leveraging the inherent potential of IDHub by fostering partnerships with B-end users to effectively connect with a wider C-end audience. By creating a symbiotic relationship that drives a cascade effect, wherein B-end users collaborate with IDHub to access C-end users, we aim to establish a virtuous cycle of growth.
Choosing the Right Path
The next logical step in this trajectory is to meticulously select a targeted avenue for expansion. After careful analysis, three potential tracks stand out: Games, Decentralized Finance (DeFi), and Social Networking.
Excluding DeFi: Given that the project's objectives do not align with the user portrait requirements of DeFi projects, which predominantly focus on Total Value Locked (TVL), we find it prudent to exclude the DeFi track from our immediate focus.
Eliminating Social Networking: While the notion of Web3 social networking holds promise, the current landscape lacks the robustness needed for IDHub's strategic alignment. Collaborations with projects in the social networking domain might be explored in the future, but the existing scope appears to be limiting.
Focusing on Gaming: In light of these considerations, the gaming track emerges as the most auspicious avenue. The burgeoning Web3 gaming sector has attracted substantial venture capital investment, indicating a confluence of capital and user interest. This fertile ground of opportunity aligns well with IDHub's growth trajectory.
The next Question: What are the requirements of game project stakeholders?
Answer: Precise User Segmentation and Profiling
Role of User Segmentation: Game enthusiasts generally align with the Pareto principle, with paying users constituting around 20%. Among these, only a small fraction are willing to make substantial monetary contributions to gaming. To enable targeted outreach and incentivization, the project stakeholders require comprehensive insights into these high-value users.
Role of User Profiling: Facilitating Strategic Engagement. Many project stakeholders adopt a strategic approach, selecting affluent users from well-known gaming communities to execute focused campaigns, such as airdrops. Understanding details like a user's gaming history, current game preferences, and financial investment in games is pivotal for this purpose. This information is especially pertinent to wallet addresses.
Based on the above analysis, I suggest that the usage cases and promotion strategies of IDhub are as follows:
Phase 1: Selecting the Optimal Layer 2 Ecosystem
Evaluating Layer 2 Solutions: Begin by identifying a suitable Layer 2 public chain, such as Arbitrum, that offers advantages like low gas fees and a substantial user base. Additional options with similar attributes include emerging platforms like opBNB, Matic Layer2, and Combo.
Phase 2: Strategic Integration and Collaboration
Strategic Partner Selection: Identify a prominent game project operating within the chosen Layer 2 ecosystem. Secure an agreement to seamlessly integrate the game's on-chain logic into the IDHUB, establishing a reciprocal arrangement. Negotiate a strategic partnership with the game project to jointly foster growth.
Phase 3: Synergistic Data Utilization and Expansion
Data Synergy and Collaborative Expansion: Utilize the accrued data in tandem with other game projects to forge synergistic collaborations within the IDHub framework. The tripartite benefits are as follows:
Benefit for Game Projects: Enable access to targeted wallet addresses upon payment, unveiling user portraits. This data is pivotal for personalized outreach and incentives.
User Empowerment: Users capitalize on project party authorization fees by contributing their authorization data.
Platform Facilitation: Litentry, functioning as the platform, earns commissions for facilitating these interactions.
Phase 4: Sustainable Growth and Network Expansion
Continued Growth and Network Expansion: Maintain an ongoing partnership with game projects, fostering user engagement and amplifying presence across diverse blockchain chains. This iterative approach ensures steady expansion and deeper integration within the gaming landscape.
By methodically executing these phases, a symbiotic ecosystem is cultivated, promoting engagement among stakeholders, empowering users, and propelling the progressive expansion of IDHub's influence across varied blockchain networks.
Very interesting initiative that narrows down from Defi or social use cases to focus solely on Gaming!
I like this proposal for the fact that it is 'skating towards where the puck will end up'. The potential of Web3 gaming is one of the brewing narrative for a while now. Some potential downside for looking at gaming as a use-case are mostly around the data side of things. Due to the high amount of data & TPS, it could potentially make indexation of the raw blockchain data and labeling of the data more complex and difficult. A good supportive data provider is crucial here to unlock that usecase.
From a business development standpoint it makes a lot of sense to validate this usecase with potential partners. 👍 ⚗️
Immutable X , BSC, Optimism / Artbitrum / Polygon are good layer 2 for gaming and NFTs. Do you have ETA implementation once the proposals have been accepted and the KPI target?