With NFTs making their rise in Q1 of 2021, Womplay’s governing company, Spielworks, is developing an integratable infrastructure that would enable organizations to issue NFTs as rewards natively.
Berlin, May 2021—Spielworks, a leading blockchain startup specializing in gaming and decentralized finance (DeFi) solutions, introduces NFTs to its gaming loyalty platform Womplay.
The NFTs represent playable characters and other in-game content from Womplay’s listed partner game titles, and will be given to players as rewards for their in-game achievements and tasks they complete on the platform. The initial line-up is inspired by Hero Zero, a mobile game played by millions of people worldwide.
As of mid-May, Spielworks’s gaming loyalty platform entity Womplay hosts 21 mainstream top-tier game titles and more than 800,000 users, offering them rewards in cryptocurrencies regularly for both mobile and desktop games. Gamers are now able to earn collectible in-game items or rare art pieces as NFTs, which can be exchanged or used otherwise in the Womplay ecosystem to access exclusive features or unlock more rewards. Recipients will be able to utilize these boxed NFTs with other synthetic assets to earn more benefits on the Womplay platform—some of which will be derived from partner platforms. Womplay is ultimately aiming to promote exchanging and holding NFTs within the ecosystem rather than cashing them out.
Furthermore, Spielworks will be providing infrastructure to businesses to issue and interact with NFTs natively, from their own applications. The solution will utilize the publishers’ game intellectual property and allow them to issue the NFTs without the need to interact with the underlying blockchain, which is managed by Spielworks. Game publishers, who issue NFTs regularly, will be the first to pilot Spielworks’s solution.
“We are excited and proud to be launching this new NFT-rewards infrastructure program for the gaming world and beyond,” says Adrian Krion, Spielworks CEO. “NFTs have opened an entirely new universe for gaming companies to incentivize players to play more, and have barely scratched the surface with it. Even beyond the gaming realm, there is enormous potential to use them as incentives for customer retention and other CRM applications.”
The average gamer spends six hours and 20 minutes each week playing online games, according to a 2020 report by Limelight Networks. Players also earn assets in most types of online games both actively and passively, and these assets have potential value in a market setting, which can be enabled by blockchain technology. A number of blockchain companies have already begun developing NFT marketplaces for gamers to trade their tokens amid the latest hype.
In early 2021, NFTs took the world by storm with items selling for exorbitant prices, some as high as millions of dollars, including Twitter CEO Jack Dorsey’s first ever tweet. With the limitless possibilities of items that can be digitized and commodified as NFTs, organizations of all kinds can harness the unique nature of these digital mints as rewards or gifts for customer bases—similarly to how games currently reward players for playing.
The project aims to eventually afford companies of all kinds the opportunity to operate independent NFT issuances natively. Beyond the NFT rewards program on Womplay, the launch of the project is part of a broader plan to enable the creative implementation of NFTs into DeFi applications, such as collateralized lending.
With its headquarters located in Berlin, Spielworks was incubated in 2018 by CHAINWISE Group, a leading blockchain consulting agency. Co-founded and led by Swen E. Hallasch and Adrian Krion, Spielworks brings the benefits of blockchain to mass-market gaming: True ownership of digital assets, secure handling of tokens and comfortable interaction with exceptional blockchain games. For more information, visit https://www.spielworks.com
Adrian Krion, CEO of Spielworks