PLUS: Why the Creator League Failed?

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Here are key highlights of this week:

• Trikon Vault is live

• Creator league implodes

• Is Friend-tech dead?

Let’s get started!

Trikon Vault is Live 🚀

After months of hard work, we are proud to finally unveil our MVP product in Trikon Vault. We have set out on a goal to make Web3 accessible to everyone. This is step one of that journey, where we eliminate the complexities of traditional crypto wallets.

Previously, you had to go through a tedious process to set up your wallet to send and receive tokens. If we talk in the case of gaming, it's a whole nother story. You had to deal with constant pop-ups and have a different wallet for each game you play.

Well, say goodbye to all of that from now! With Trikon Vault, you can enjoy uninterrupted and frictionless gaming. You can login with familiar options, like your Google or Discord account. You also don’t have to worry about storing your different game assets. As you can store all assets in the Vault itself.

We have so much more in the store for y’all in the coming months. So stay tuned, and if you haven’t already, go register your wallet on Trikon.io.

Creator League Implodes 💀

Imagine creating something new, fun, creator friendly — But the entire thing implodes because you didn’t mention you were using blockchain technology. Not only that, you had to lay off your employees 😭

We are talking about the Creator League by eFuse. The company started a creator league esports that was fan controlled. The fan has to buy a game pass worth $20 and they can compete to win a couple hundred thousand. Not a bad deal, right?

Seeing the concept of the Creator League intrigued many people in the community. The lineup of internet personalities was also amazing.

But this is when things went south. The community found out the passes sold were on a blockchain. And they didn’t like associating with anything crypto related. Naturally, the creators sided with their fans and withdrew from the competition.

And for what? The passes sold were not even NFTs. They are soulbound tokens, meaning they can’t be traded. So there was basically nothing speculative about this in any way. But because the perception of crypto is so bad the creators didn’t want to do anything related to it.

This is a real problem now!!! While maybe the company should have mentioned how they’re using blockchain more clearly, it is clear as day that the sentiment is negative when it comes to crypto.

Is Friend-tech Dead? 📉

We see so many new trends pop up in crypto and we tend to avoid paying attention, thinking it has no legs to sustain the growth. Recently, the trend has been SocialFi, with Friend.tech capturing the most mindshare.

However, despite the initial success, many believe the application is pretty much dead, considering how transactions fell off a cliff. More importantly, the user acquisition outside of Web3 has also slowed down.

So is Friend-tech really dead? Let’s dive into more granular metrics.

Looking at volume or number of transactions may be a wrong metric to look at for something that was released a month ago. While it does give a high-level overview, we need to check more engagement based metrics to get a better understanding.

Firstly, retention has been a great indicator for how active users are. According to the recent data released by their team, 50+% of key holders still use the app after a week of their first interaction.

The average time is another data pointer shared by the team. On average, a key holder spends about 30 minutes a day on the app, with the highest for a day being 2 hrs. Active key holders is probably the most important metric of all shared by the team. As of 30th August, the total active users of Friend.tech are 20,000.

Besides metrics, I think the resurgence of Friend.tech is now happening. People are expecting an airdrop based on their trading volume of keys, activity on the app, and time spent messaging.

Based on recent airdrops that are happening every Friday, I observed that collecting keys is having more weightage than from being a creator on the app. This is leading to more and more market participants speculating (more like farming lol) to get as many points as possible.

We all know incentive schemes are a feature and bug. So far, it has been a feature to help Friend.tech bootstrap early liquidity and loyal users. Let’s see how the sentiment changes in the coming months.

Game Updates

• Trikon partners with Cryptopia to unlock a new wave of gamers into the new Web3 space.

• Neowizl, a Korean game publisher, and its Web3 subsidiary, Intella X, have joined Avax's Arcad3 program.

• Meta Toy City has revealed its plans to develop a mobile MMORPG on the Immutable zkEVM platform.

• Castle of Blackwater, a social deduction game, has announced its intention to build on Beam, a platform by Merit Circle.

• Illuvium and Cards of Ethernity are collaborating to release 2,222 Booster Packs and host a 30-day ranked tournament with a $10,000 prize pool.

• Parallel has unveiled details about their upcoming third comic installment, "The Priming Issue 3," with the primary sale scheduled to commence on September 15th.

Get Started on Trikon Today 👋

At Trikon, we are pushing the envelope in Web3 gaming with our game distribution platform integrated with unique wallet and marketplace solutions. From onboarding and game discovery to asset management, we can provide a truly uninterrupted gaming experience.

Want to try it out? Register on our website and you’ll be among the first to get early access.

Join our discord community.

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