Neopets is a widely popular gaming IP that is making a comeback as a Web3 game introducing NFTs, metaverse, and Play-to-earn mechanics.
The original Neopets game that players from the early 2000s used to play all day is making a comeback in an exciting web3 format. The original game's iconic components work in combination with fresh features and activities in Neopets Metaverse. Neopets Metaverse expects that the Alpha Release will appeal to both seasoned Neopians and attract prospective gamers from all around the world.
The Alpha launch will feature a variety of Neopet customization and care systems. Additionally, personalized Neohomes that you can design, build, and visit, a brand-new battle combat system. It will also feature a variety of PvE (Player versus Environment) initiatives to train and grow the litter. And recreated shops and P2P Marketplaces that offer a personalized approach to buy, sell, and trade items.
Dominic Law, CEO of Neopets, believes the twenty-year-old virtual pet game has all the necessary components to succeed as a Web3 offering. Even as the future of Web3 gaming is uncertain during a crypto winter, Law is constructing a blockchain-based 3D virtual environment for these fantastical creatures from a base in Hong Kong.
When Law, who is now 35 years old, joined Netdragon Websoft, a Chinese online gaming business that had bought the virtual pet game in 2017, he reconnected with Neopets after more than 20 years. The Harvard Business School graduate claims that after realizing the possibility of merging Web3 technology with online games, he saw a chance to bring the iconic title to market.
Win Crypto Tokens in Neopets Metaverse
Neopets Metaverse is a game that lets players compete against other players' pets. The aim is to win crypto tokens and virtual goods that players can use to create NFTs. Law expects that the new game, which will see a launch window as early as the first quarter of 2024, will bring back pleasant memories for the 150 million Neopets players globally and guide them to Web3 as the website did with Web1.
Dominic Law says:
“Neopets is one of the first online games that introduced the world of the internet to its players. That’s what we’re trying to replicate with Neopets Metaverse. We want to be one of the first fun games to introduce the world of Web3 to our previous user base. And to users who are new to Neopets.”
Some tech-focused capitalists are optimistic about the potential of Law's Web3 game, despite the fact that Netdragon's investors did not share Law's enthusiasm—the Hong Kong-listed company's shares are down around 6% since the start of 2021. Neopets Meta reported in January that it had secured $4 million from investors. Including the venture capital firms IDG Capital and Hashkey Capital, the blockchain funds Polygon Ventures and Blizzard Avalanche Ecosystem Fund, and investors.
Neopets NFTs, Metaverse, and Web3
Law confronts a difficult task in bringing his Web3 vision to life. It is challenging even with millions of dollars in finance and the support of its parent business, which has a $1.1 billion market worth. This is true during the current crypto winter. Play-to-earn is a feature of Web3 games that draws players around. Yet, rather than being played by regular players, play-to-earn games were primarily played by speculators. Many financially motivated gamers left the games as crypto winter descended after a spate of corporate failures, leaving the games with few users and crypto tokens that are worth practically nothing.
Over 5,000 Neopets NFT owners and passionate Neopets gamers have already received some trial runs of Neopets Metaverse. Some of them had no desire to continue living in the 3D virtual environment. The Neopets enthusiast said that it "feels like an unconnected game that has paid to inject the Neopets IP." This explains why Neopets Metaverse attracted him to Web3 for the first time.
These remarks follow criticism from the Neopets community. It is vocally against the combination of NFTs with the nostalgic label when its Web3 pivot started two years ago. The community expressed worries about possible money grabs and environmental damage.
Dominic Law: “Neopets is one of the first online games that introduced the world of the internet to its players. That’s what we’re trying to replicate with Neopets Metaverse.”
Any Lee on Web3 Games Mainstream Adoption
According to Any Lee, a partner at Hong Kong-based cryptocurrency firm Everest Ventures Group, Web3 games won't become widely popular for at least another two years. He claims that lowering the technological barrier by providing free NFTs and centralized logins that are already linked to a cryptocurrency wallet will help attract traditional gamers. However, Lee says that in order to keep these players, there needs to be "strong social components." Such as in-game chats as well as a platform that enables users to easily share their gaming experiences.
Web3 gaming, in Law's opinion, will lead the next development in the gaming sector. “The sky is the limit. There is no reason why we cannot foresee a world in which all three billion gamers are Web3 gamers. "It would be fantastic if we could accomplish what Neopets.com was able to do in Web1."
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