In the current digital era, Web3 games are rapidly rising and becoming one of the hottest topics. Why is this trend so attractive? The main reasons are as follows:
The huge value of the game industry: The market value of the game industry reaches billions of dollars, making it one of the most potential markets in the world.
Revenue exceeds that of other entertainment industries: The revenue of games has exceeded that of the music and film industries combined, showing its strong appeal and market potential.
Ease of access: Average players can easily get started with the game without having a deep understanding of blockchain technology, which lowers the barrier to entry.
Among the many Web3 games, Shrapnel ($SHRAP) caught my attention. This article will delve into what makes Shrapnel unique and its future potential.
Basic concepts of Shrapnel
Shrapnel is a new and well-performing Web3 game that performs as follows:
Small market capitalization: The current market capitalization is less than $100 million, which means there is still a lot of potential for growth.
The token price has performed well: in the past 60 days, the price of $SHRAP has increased by 330%, showing the market’s confidence in it.
This game isn't just an ordinary first-person shooter (FPS), it's a high-stakes treasure hunt. Players compete in contested areas for valuable materials dropped from the half-destroyed remains of the moon, and the token $SHRAP adds a whole new dimension to the game.
The rise of the creator economy
Shrapnel not only encourages users to participate in the game, but also incentivizes the entire creator economy. Players can create maps, skins, and gear and earn $SHRAP rewards. This design not only increases the fun of the game, but also provides players with additional revenue opportunities.
Shrapnel’s core team has a very strong background, and its members have participated in the development of well-known games such as “Halo” and “World of Warcraft”. In addition, members of the advisory team include professionals from games such as SEAL Team 6 and "Fortnite", which has laid a solid foundation for Shrapnel's success.
room for improvement
Despite Shrapnel's many advantages, there is still room for improvement. Its development roadmap is exciting, but needs strengthening in two areas:
Details on long-term plans: More details are needed on how to sustain the game in the long term.
Marketing Strategy: Shrapnel’s marketing plan should be included in the roadmap to attract more players and investors.
According to DefiLlama data, Shrapnel is performing well on fundamentals:
Positives: TVL continues to grow: Shrapnel’s total value locked (TVL) continues to rise, showing users’ trust in the platform.
Trading volume growth: $SHRAP’s trading volume has continued to grow over the past 7 days and 30 days.
negative factors
Lack of third-party audit: Shrapnel has not yet conducted a third-party audit, which may affect investor confidence.
Token unlocking issue
Another metric worth noting is $SHRAP’s token unlocks:
87% of tokens are yet to be unlocked: this means that there are still a large number of tokens in the market that have not yet been circulated.
47% of tokens are allocated to the team and investors: this may cause supply pressure in the market.
However, thankfully: the tokens are locked for 5 years: this reduces the risk of selling in the short term.
The main unlock will not begin until the end of 2024: this gives holders enough time to observe market movements.
degree of decentralization
In terms of decentralization, $SHRAP’s tokens are mostly concentrated in a few wallets, which raises some concerns. However, upon further investigation, it was discovered that these wallets were consistent with unlocked escrow wallets, so there was no cause for concern.
In addition, Shrapnel’s marketing strategy on social media has also been quite successful, attracting the attention of many well-known KOLs, such as @AlexBeckerNT, @crypthoem and @Flowslikeosmo. Strong marketing capabilities are critical to project development.
Shrapnel’s market competition
Compared to other games, Shrapnel faces relatively little competition. As the first Web3 FPS game, $SHRAP's gameplay and marketing strategies are comparable to major franchise games such as COD. Although competitors such as Off The Grid (battle royale type games) will occupy the main market share, $SHRAP still has a chance to stand out in the Web3 market.
When to buy? The final question is: when is the best time to buy? There is no perfect answer to this question. However, after several consecutive weeks of gains, $SHRAP may soon form an accumulation zone. Investors should focus on the 3-4 week resistance and support levels within the stable range in order to make informed decisions.
In summary: Shrapnel is a Web3 game with great potential, showing strong growth potential both in terms of token performance and game design. As the market develops further, Shrapnel may become a leader in Web3 games.