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1. PROJECT OVERVIEW: WHAT IS WAM?
WAM is a play-to-earn crypto-gaming platform where everybody can play & compete with friends in simple hyper-casual tournaments to earn crypto rewards. The platform can be accessed on any mobile web browser or downloaded from Google Play and the AppStore.
On WAM.app, the more a player wins the more their in-platform rank grows, just like normal real-life leaderboards in competitive sports. Once a player advances their rank they can participate in more rewarding tournaments with higher entrance fees & reward pools.
Each tournament has a reward pool where WAM.app adds a fixed amount of $WAM for every player who pays the entrance fee. At the end of the tournament the rewards are distributed algorithmically to a percentage of the top players based on their score and ranking.
They got the inspiration from real life amateur sports tournaments where millions of people from all over the world compete in games like: football, basketball, rugby, tennis, billiards, darts and many more, just to have fun and spend time together with friends and family. The pandemic showed them the importance of sharing experiences and keeping in touch with our peers and doing it on a digital platform with people from all over the globe is the simplest way to do it.
On WAM.app players can:
- Participate in tournaments to win rewards in $WAM
- Be the OWNER of one or many games from the platform (as NFTs)
- Trade NFTs won in specific tournaments on the marketplace
- Build their player profile by winning tournaments
- Grow an audience of fans to engage with them through custom tournaments
- Create their own games with AI assisted technology using their phones
2. GO-TO-MARKET STRATEGY
Launched in February 2021 as public beta WAM reached more than 2.5M players in less than 2 months with tournaments reaching as many as 10k players and +3.5M players in total until Nov 2021.
After this initial success they decided to create the mobile apps where to this date they have been downloaded more than 180K times so far.
They currently have 313k registered accounts, and 1.5 hour average engagement time in the last 30 days.
Going forward, the marketing strategy consists of a mix between their own affiliate marketing program where they partner up with premium publishers, influencers and gaming communities while also growing the internal media buying team.
3. PRODUCT ROADMAP
They started building the version of the app you can see now live on WAM.app almost 2 years ago. It took almost one year in development until they launched the beta version of the web app this year in February.
After 4 months they released the mobile apps as well. But over the summer, they had loads of messages from the users where they were asking "How can I earn? How can I withdraw? How can I make money?". Seeing the play-to-earn field evolving and also listening to the users feedback they decided this September that they have to migrate the platform to crypto.
4. REVENUE STREAMS
- Tournament fees: 10% from each tournament reward pool
- In-game revivals: To continue from the same score, a player can choose to pay for a revival
- NFTs: Initial sales of NFTs (games, avatars, ingame items) & a royalty fee for each recurring transaction
- Marketplace: All transactions on the marketplace will have a 3% fee
5. PRODUCT DIVE
WAM is a play-to-earn hyper-casual gaming platform focused on quick tournaments where users pay an entrance fee and compete to rank higher on the leaderboard until the tournament ends.
WAM is a social gaming platform as each player has their own user profile where other people can see stats about that player ( wins, $WAM won, rank ).
The UI is Tiktok style and is comprised of 5 walls:
- Amateur - tournaments with the lowest entry fee ( apro $5 in $WAM )
- Semi-pro - these tournaments can be accessed after each player surpasses 5k in won $WAM
- Pro - tournaments one can enter after reaching $250k in won $WAM
- Legend - tournaments accessible to those who reached $1M in $WAM winnings
- Private - the tournaments the user makes to invite friends
To enter a tournament, players have to pay an entry fee (in $WAM) that goes into a smart contract which is automatically generated by a smart contract generator. Each tournament lasts a variable number of days and $WAM will be locked until the tournament ends.
When the tournament does end, the backend informs the smart contract of the winners and the reward pool is re-distributed to them. WAM is looking to be a simple platform that can be used by the masses to win crypto rewards. As 1.5B people around the world already consider themselves casual games players, it's easy to see how their product can really help the crypto adoption.
6. TECHNOLOGIES USED AND CREATED BY THE PROJECT
They have a wide range of technologies used for the platform – Node.js, Golang, Laravel, Vue.js are just the main ones. Also they are using Solidity for blockchain development. The main focus until now was to go more on the consumer side than on the technology, and to create a platform that people will love. Thus so far they did not build any technologies from scratch.
But they plan to develop it own game builder tool, which will use OpenAI Codex in order to make it easy for everyone to create their own hyper-casual game, just by giving simple instructions and with minimum UI interaction.
7. TOKEN ECONOMY
The token has a few different utilities:
1. Play-To-Earn: In order to join the tournaments on WAM.app you'll need to have $WAM; You join the tournaments, make a great score (skill based) and win a good position in the leaderboard in order to receive a % of the tournament reward pool; this is the main utility cause any player who wants to join WAM.app need to have $WAM;
2. Own-To-Earn: They plan to allow people to OWN games on the platform. The games will be owned as NFTs and you can earn $WAM from the tournaments created on that game. They see a lot of potential in this regarding the token utility, cause in order to have a chance to own a game on our platform you will need to lock and hold $WAM.
3. Market-To-Earn: Marketers can rent a game from an Owner and promote or create tournaments on it. This way they will earn revenue from the users they bring on these tournaments.
4. Develop-To-Earn: They'll have a third party developer program where people who own $WAM can invest in the games that developers plan to build. These games will be then published on WAM.app and those who invested in the game will get a % from the reward pools of the tournaments created with the game. This is also connected with (2) because the developers will also be the first owners of the NFTs created for their games.
5. Staking & Liquidity Mining: Provide $WAM liquidity to earn APY. they'll also have NFT passes for some special tournaments where the reward pool is guaranteed by the platform. These NFTs can be earned as a reward for staking.