Adding “free-to-win” to the free-to-play model is a revolution with a crazy acronym.
The free-to-play (F2P) gaming industry is soaring. Three years ago, the revenue on app stores from free-to-play games overtook revenue from pay-to-play games – and the industry has never looked back.
Free-to-play, of course, rests on a business model that anticipates that some percentage of players will spend money on in-game virtual products that are beneficial but not essential to enjoyment of the game. Statistics indicate that the number of players who spend in free-to-play games is small, but the accumulated returns in micro-revenue of a dollar here or a fiver there add up to billions of dollars a year.
Even so, whether players invest money in games, or only time, they are not receiving anything tangible in return. They have fun, obviously, or they wouldn’t do it. They get in-game status, badges, recognition – intangible rewards. But nothing of real value.
In the United States alone, people spend 271 million hours a day playing online and mobile games. Extrapolate that across the rest of the world, where gaming is expanding at exponential rates. Then think about the fact that all of these hours – and billions of dollars – are being invested in games that offer nothing tangible in return. What if people could actually receive something valuable for their time?
One company thinks it has the answer – and what the result will be.
BidOkee is an online retail and gaming app currently in development. The CEO of the company says that, when BidOkee hits the app stores in a few months, it will represent a revolutionary new era in gaming and etail.
“People are spending a colossal amount of their down time on free-to-play mobile games,” says Eyal Lichtmann. “We are adding a huge new value proposition to the genre: ‘free-to-win’”
BidOkee will reward players for in-game achievements and other actions with points that can be used on BidOkee’s integrated online auction site. Players can bid on or “buy now” valuable consumer goods like electronics, apparel, housewares or gift cards. The BidOkee game itself is familiar and intuitive – like the most popular game apps in the world today. And players can get valuable stuff without spending a cent.
BidOkee has adopted the admittedly unwieldy acronym F2PF2W for their free-to-play, free-to-win value proposition. The acronym may be awkward but the proposition is straightforward.
“BidOkee is making playtime rewards real,” Lichtmann says. “And when we launch, it will mark the beginning of a genuinely new era in the gaming industry. Players are going to be able to earn tangible rewards for playing an amazing, visually stunning game. F2PF2W is a hard thing to get your mouth around, but we’d better get used to it, because it is what’s next in gaming and etail.”
Lichtmann adds that, before revolutionizing gaming and online retail, BidOkee is going to revolutionize crowdfunding.
To fund the development of the BidOkee app, Lichtmann’s company is launching a revolutionary gamified crowdfunding project.
“This is the first gamified crowdfunding site that rewards backers with points they can use to bid for real, valuable products on an integrated auction platform,” says Lichtmann. “Like the app being developed, the crowdfunding project is gamified – backers receive points to use in an integrated auction, getting a taste for the app they are helping to create.”
Also like the game being developed, the crowdfunding project reflects BidOkee’s F2PF2W ethos.
“You do not need to contribute cash to be part of our crowdfunding campaign,” Lichtmann says. “We have a ‘give or get’ strategy. You can give money or you can get your friends to join. Other crowdfunding campaigns have a ‘give or get lost’ attitude.”