A Global Phenomenon in the Mobile MOBA Scene

Since its launch in 2016, Mobile Legends Bang Bang NFT (MLBB) has emerged as a dominant force in the mobile multiplayer online battle arena (MOBA) genre. Competing alongside titans like Honor of Kings and Brawl Stars, MLBB has consistently ranked as the third highest-grossing MOBA over the past three years. With over one billion downloads and 100 million monthly active users, it has carved out a significant presence, particularly in Southeast Asia.

The game’s popularity is further evidenced by impressive download statistics from the first half of 2021, when Sensor Tower reported 54 million downloads, making it the most downloaded-mobile MOBA. This success on platforms like Google Play and the App Store has solidified MLBB’s position in the market.

Venturing into the NFT Space

In a bold move to embrace the future of gaming, MLBB launched its first-ever NFT collection, “The Aspirants,” on January 11, 2024. This collaboration with NFKings introduced 24,700 digital figures and creations available through mystery boxes on the Binance NFT marketplace. The collection, featuring popular characters like Fanny and Layla, generated over $617,500 in just two minutes, reflecting the enthusiastic response from fans.

As the success of Mobile Legends: Bang Bang’s NFT collection demonstrates, the integration of NFTs (Non-Fungible Tokens) has become a significant trend in the gaming industry. Now, let’s delve deeper into how NFT could revolutionize Web3 gaming, bridging the gap between crypto enthusiasts and traditional gamers while addressing the inherent challenges of the Web3 landscape.

Classification of Game Players

By categorizing users based on their preference for gaming and possession of cryptographic assets, we can delineate four quadrants:

  • Game enthusiasts also hold cryptographic assets, enjoying gaming for its entertainment value while participating in the cryptocurrency market.
  • Game enthusiasts without cryptographic assets derive pleasure from gaming but face high barriers to entry in crypto-based games.
  • Non-gaming enthusiasts interested in exploring crypto gaming.
  • Non-gaming enthusiasts with cryptographic assets seek avenues to profit through gaming proxies.

The Struggles of Web3 Gaming

As a gateway to Web3, Web3 gaming serves the dual function of educating Web2 players and enticing more Web2 users into Web3. However, the unique nature of Web3 gaming presents several challenges:

High barriers continually dissuade traditional users.

Most games adopt a hybrid Web2.5 approach, with non-crypto players accessing non-blockchain versions while Web3 players engage in blockchain games, leading to economic fragmentation.

There’s a need for a method to lower the barriers and enable non-crypto users to experience Web3 gaming seamlessly. One approach is to directly reduce barriers through methods like abstract accounts. Another involves shifting the high barriers onto Web3 players, akin to assisting in setting up a ChatGPT account. NFT lending represents the latter approach. It not only allows more non-crypto players to enter the game but also enables players with limited or no assets to participate.

About CipherBC

CipherBC stands as a market leader in digital asset custody and payment solutions. Catering to businesses seeking a secure and efficient transition to Web3 transformation, ensuring the security of assets and We are committed to the mission of “ fostering financial freedom.” In line with this objective, we provide asset owners with a complete range of services, encompassing asset custody, merchant payments, clearing and other financial services.

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