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sweetpea

Mar 19 2024

Edited

Collectibles is prime for game mechanics = crafting / Panini NFT Marketplace

General

Gamification

Live Operations

Panini

For those who haven't dug into Panini's NFT marketplace (BETA), its worth watching. We all likely collected cards early in our youth where we collected a set (for me the Bears 1985 team). At the end, all we got was satisfaction of completing it. Gaming has built up a big industry around player motivations, of which, one of the biggest is "Achievement", which is completing tasks. Game designers motivated this by offering a 'chase' item that can only be gained by completing a certain of tasks. More sophisticated systems have crafting, sending players on multiple engagement loops (battling, collecting, doing tasks) to play off this motivation of completing tasks for a prized reward. Some systems in games I've been a part of would cost players thousands of dollars and n weeks.
I've always viewed modern collectibles as a prime playground to unleash gamification systems. For example, Go do a break, get x. Take x, go grade at PSA and depending on grade value, get y, or z. Take y or z to be eligible for a new break. Along the way, each action rewards with a unique currency to be used for engagement rewards or monetary rewards, all reinforcing the core loop (see image I created for a basic example of a core loop for crafting).
My point is, Panini is testing out some basic quests and crafting events that are pushing the industry towards this gamification, which I think will unleash substantial LTV unlock. This is on web3 largely since it eliminates the friction of physical which is a huge barrier, but one if done right can be turned into an asset.
I started to do a typical PM tear down, but then stopped. The friction points of adding to your wallet essentially would see your retention drop to d7 = 0%. These friction points (loading wallet, etc) will be solved in due time, but I wonder if there is something that can be done with existing infrastructure of collectibles.
But for now, check out Panini NFT marketplace.

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