Unlocking the Best Blockchain Wallet for your Web 3 Games: Decision-Making Framework
Korean Blockchain Wallet Series #3
TL;DR
Blockchain wallets offer different functionalities, making it necessary to establish clear criteria when deciding on the best wallet for a particular game.
To select the right blockchain wallet for a game, the decision-making framework should be based on six main criteria: 1) user experience & interface design, 2) functionality, 3) developer support, 4) security and compliance, 5) cost structure, and 6) brand awareness and reference.
Project leader must prioritize each criterion based on the game's characteristics and strategy, structuring the decision-making process accordingly.
Introduction
As discussed in the previous parts of this series, AAA game companies have released blockchain wallets that prioritize transactional functionality to expand their token ecosystems, while blockchain-native wallets have launched more universal options for in-app and in-game purchases. These wallets differ in functionality and use varying terminology to describe the same features.
Given the lack of a market standard, game companies are often challenged and confused about which blockchain wallet to adopt. In this third part, we will provide a decision-making framework for game companies to consider when selecting a blockchain wallet. By referring to this framework, game companies can establish a rational and clearer decision-making structure for selecting a blockchain wallet.
Decision Process
Accurately Identifying Criteria and Setting Weights are Key
As outlined in the previous article, game companies should identify the most important criteria for selecting a blockchain wallet based on their game's characteristics and assign different weights to each criterion for a proper evaluation. Without accurately assessing their game's status, game companies may set incorrect weights and select an inappropriate blockchain wallet. Therefore, it is essential for game companies to have a clear understanding of their game's objectives, resource allocation, and current status before utilizing the decision criteria.
Setting Clear Objectives For Your Game
As blockchain games evolve and become more diverse, with games such as Play-to-Earn (P2E) focusing on tokens, games that provide NFTs for items or characters, and games that put all actions on-chain, the requirements for a suitable wallet vary depending on the type of blockchain game. Therefore, game companies must set clear objectives and prioritize them based on the characteristics of the blockchain game they plan to launch when choosing the appropriate blockchain wallet.
Reviewing your resources
Resources can be categorized into three groups: human capital, financials, and technology. The scope of blockchain functionality and wallet requirements will vary based on an organization's human capital capabilities. Development support from the wallet provider is also crucial if internal resources are limited.
Financial resources are directly related to the costs associated with wallet integration (e.g., liquidity). It is essential to confirm the available funds for the blockchain game and verify payment capabilities during the wallet selection process.
Lastly, technological resources play a critical role in selecting a suitable blockchain wallet. Blockchain technology differs from traditional game development technology, and it is necessary to confirm the blockchain expertise of the internal development team. It is important to consider if the integration process and supporting documents are user-friendly for developers working on the project.
Decision-Making Framework
Decision criteria should be expressed in numerical values or binary options, and ratings should be determined based on the consensus of key personnel, as evaluations of each criterion may be subjective.
The framework provided in the shared link can be downloaded for free and used as a reference, tailored to the specific circumstances of each company. It is important to note that blockchain wallets are rapidly evolving, and decision criteria that are appropriate today may not be relevant in the future.
