Empowering local gaming scene with an up-and-coming blockchain rewards platform.
Access to games are made easier along with the rapid development of smartphones. Instead of being restricted to gaming hardware setup, people can play mobile games anywhere and anytime. The trend shows that the number of users will continue to grow along with the market. Yet it brings forth a new issue where the amount of time and money spent by regular users on these games are rewarded by nothing but satisfaction. On the other hand, the global distribution of games raises the stakes and local developers face tight competition in terms of quality and users’ attention. That’s where Mfun comes in.
Mfun is a rewards platform aiming to build a balanced and mutually beneficial gaming ecosystem while allowing the community to grow. Gamers will be rewarded for what they invest into the games while content providers can promote their products and acquire users more effectively. Utilizing the blockchain technology, which stores information in linked “blocks”, its database is much safer due to its decentralized nature as each “block” is separately encrypted and each user holds a private key. An Mfun account also allows users to avoid signing up separately for each game and reducing the risk of data breach.
So how does it work? After registering to an e-wallet service provider and connecting it to Mfun, users are automatically connected when they play games seamlessly integrated into the platform, noticeable by its logo on the download page or in-game. The rewards come in the form of cryptocurrency called Mfun tokens, which can be earned by simply playing games for certain amount of time, watching advertisements, completing surveys or installing recommended apps. User can freely choose on how to earn these tokens, which can then be gifted or used for in-app purchases on any game across the platform, eliminating the process of credit top-up or credit card payment and further improving their gaming experience.
These tokens come from the rewards pool pitched in by local game developers and publishers. Mfun saves them from the necessity to allocate a huge portion of their budget for advertising and third party expenses such as payment channels. They can instead make the most of the effective promotion within the platform and reach the right audience, directly reward users for playing, enhance their games and develop new products to increase their competitiveness, while also benefiting from monetization improvement, in-app purchases increase and payment process acceleration.
Mfun takes a low transaction fee and Brian Fan, co-founder of Mfun explained that the company was not founded to simply make profits. “What we want to do is similar to a social project,” he said. “This is about building a community of game developers and users and giving the value back to them so it becomes a more balanced ecosystem.”
The platform is expected to roll out progressively from Q4 2018, starting in Indonesia as the largest market for gaming in Southeast Asia before continuing to expand in other countries. Currently, Mfun has exclusive partnerships with renowned Indonesian game developer Agate Studio, top gaming media and community Duniaku.net, and popular social app Yogrt. It will sign up more game developers and publishers along with other content providers while working on its plan to also integrate PC games into the platform.