Spores Network White Paper
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4 - Problem Statement
There are a few challenges that Blockchain entrepreneurs and retail investors face when engaging in a blockchain project:
Insufficient Industry Expertise
Many gaming studios are attempting to join the blockchain gaming market and contribute to its growth, but many lack blockchain expertise. As a result, they spent too much time learning about Web 3.0 rather than focusing on improving the core gameplay features that translate into an amazing gaming experience for players.
Furthermore, many crypto launchpads out there are lacking expertise and experience in the Gaming and Metaverse industry. Without proper support in marketing, blockchain, tokenomic and financial management from industry experts, great GameFi and Metaverse projects could potentially fail.
Lack of Project Due Diligence
The growing popularity of Blockchain and Cryptocurrency has not only attracted interest from investors. but also caught the attention of scammers. It’s not uncommon for crypto investors to fall victim to incompetent teams, rug pulls, or other scams.
When looking to participate in launchpads in the crypto space, it can be difficult for retail investors to find one that they can really trust due to poor vetting and due diligence process on the crypto project. This can lead to significant financial loss for retail investors as poor-quality projects are selected in the first place by the publisher.
Funding
As the Blockchain gaming industry continues to expand rapidly, more gaming companies are attracting investments from institutional investors and retail investors, leading to fiercer competition. Launchpad model helps game and metaverse studios to raise funds in a community-driven way through Initial game offerings (IGOs), Initial NFT Offering (INOs) and Initial Dex Offerings (IDOs). There is nothing better for a project than to issue tokens directly in a strong community of investors and traders poised and ready to invest. The start-ups also benefit from the strong extensive partnership network and access to top tier Venture Capitals
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