RE-IMAGINING THE WORLD OF FIREARMS WITH NFTs
If you were to create an environment for NFT gaming, you’d be hard-pressed to think of better dynamics than those that already exist in the blockchain gaming space. As high-powered gaming giants capitalized on the popularity and incentive mechanisms of NFT, the global firearm and hunting industry seems like an even better fit for NFT in many respects. That’s a consequence of the industry’s market size, gamer’s purchasing behavior, and innovation potential. It’s tempting to think of gaming as an almost singularly big market outside the traditional entertainment industry. While there are reports to justify this claim, doing so ignores the scale of exceptional growth recorded in the gaming industry post-Covid-19.
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According to Statista, there were about 2.7 billion gamers worldwide in 2021, with more than 300 Billion USD estimated direct and indirect value of the gaming industry as reported by Accenture. This worldwide increase in digital gaming spending highlights the impact of digital revenues. The growth is not only due to COVID-19; the gaming industry was making inroads into in-game monetization and live service revenues before the outbreak of the pandemic. Nevertheless, the urge for togetherness and social coercion led many holdouts and physical retail spaces to embrace digital in-game purchases. What does this mean?
It means the global gaming industry boasts a massive opportunity for consumers and developers. Intuitively, we have always held this belief but with the emergence of NFTs and the growing popularity of Metaverse, the society organized itself around centers of gaming and digital collectibles; we have seen Play-to-Earn gaming and Race-to-Earn gaming for dog and horse enthusiasts. These various use cases act as a locus of connection, transaction, and earning. Unfortunately, the early NFT and Metaverse movers mostly neglected a massive industry with an estimated market size of USD 6.14 billion in 2019 and projected to reach about USD 9.33 billion in 2027, representing a CAGR of 6.15% in the forecast period. Digital Arms recognized this absence, understood the market opportunities for purchasing, owning, and trading digital firearms and accessories, and reversed it. In doing that, Digital Arms became the face of a new, first-of-its-kind business built on the blockchain: Firearm NFT
Rather than abstracting the established human connection in the firearm and hunting industry, Digital Arms lean into them. For them, that meant creating an ecosystem where users can trade valuable firearm NFTs. The platform, while adopting the Hunter Token ($HNTR) as an alternative deflationary currency, also provides Digital Armory — a digital marketplace that facilitates the trading of NFTs and other digital assets. Essentially, Digital Arms’ offerings fundamentally disrupt the complexion of the global firearm, gaming, and hunting industry. It opens up new opportunities for merchants and consumers on their platform. Fascinatingly, their legacies may not be defined by these attributes. By aggregating and decentralizing access to firearm accessories and tradable NFTs, they enable true economic empowerment and onboard new users into the future of gaming in the Metaverse.
-Exclusive IP rights with the world’s most sought after firearm brands
Digital Arms works closely with industry-leading brands, thoughtfully choosing who to partner with. Only those firearm brands that meet specific standards make the cut. To make it possible for firearm enthusiasts and collectors to purchase and own branded firearm NFTs, it is necessary to obtain exclusive IP rights from the manufacturers of these accessories. For instance, the long-term licensing agreement with Barrett, a leader in long-range, large-caliber precision rifles, is a strong statement of building leverage to secure preferential terms to design, develop, and market the first-ever licensed firearm NFT that can be used in games and other digital platforms. That Digital Arms was able to sign an exclusive agreement with six world-class industry brands illustrates how they plan to innovate the fundamentals of their core offering. If any competitor enters the space, they need time to foster this relationship and build new technological competencies. In reality, this doesn’t demonstrate a radical departure from the hunting and firearm industry. Instead, it represents an evolution, using blockchain to remap an existing industry that had existed for many decades.
- Deliver pre-rigged ultra-realistic gaming NFTs built from the CAD used to manufacture the actual firearm
Many firearm enthusiasts dream of a day owning a digital replica of a physical firearm. That dream has now become a reality through the Digital Arms initiative approach. Perhaps the sole reason Digital Arms seems primed to transform and lead the firearm NFT marketplace is by delivering pre-rigged ultra-realistic gaming NFTs built explicitly from the Computer-Aided Design (CAD) used to manufacture the real firearm. This solution introduces an immersive experience in gaming and hunting. It also ensures that people who couldn’t afford a real firearm can now purchase, own, and trade their favorite firearms and accessories on the digital armory platform. It’s the first advancement that moves firearms from the reality of practical weapons into digital assets.
- Gaming platforms to leverage Digital Arms NFT community crossover
In short, Digital Arms wants to bring both online and offline firearm enthusiasts into one platform. Part of their genius is that no or little effort is required to have a behavioral change for both consumers and merchants — consumers buy their favorite firearm NFT and make a crossover to the gaming platform for Play-to-Earn games. If consumer penetration is so high, that suggests an already-established market with unique buying behavior, undercutting the reason for unnecessary promotion or marketing.
-Deliver manufacturers effortless monetization
Digital Arms provides an effortless monetization strategy for the merchants and manufacturers on their platform. They know they are tapping into an army of global, highly-networked merchants by partnering with them. This attractive proposition enables Digital Arms to boast a catalog of exclusive products and special discounts. Being a competitive advantage, it will compound as Digital Arms aggregate more merchants and partner with more manufacturers. For this reason, a newcomer to the industry will likely struggle from a product perspective.
- Recognized as the leading blockchain company
Being recognized as the pioneer and leader in the firearm NFT industry means building consumer-centric defensibility. Digital Arms finds itself in a leading but envious position by taking an axially different approach — addressing a vast market populated by passionate gamers and hunting enthusiasts who have waited so long to have an NFT of their own. This differentiated, opinionated approach will likely attract early challengers, but two of their offerings are probably designed to address this challenge:
- E-Commerce and Auction Site: This is a dedicated e-commerce platform with auction functionalities. The platform will allow merchant integration and peer-to-peer transactions. Also, merchants can create their store and pay an advertising fee in $HNTR token to promote their store.
- Wallets: Since many users on the platform may be first-timers, Digital Arms provides an easy-to-use hot wallet for this category of users. Experienced users can connect to the platform with their own wallets. These two solutions will increase lifetime-value metrics and enhance healthy merchant growth.
Already, Digital Arms has demonstrated its willingness to experiment and innovate, with a desire to expand its territories and offerings far beyond the firearm world into NFT, e-commerce, and booking sites; to become everything the global firearm, gaming, and hunting industry has been lacking. If we wanted, we could speak more plainly: Digital Arms has no competitors; they are their own competitors.
For more information about Digital Arms and the Hunter Token, read the company whitepaper at https://docsend.com/view/gcfdaiymvyqcakkh.
Join the Digital Arms movement over at their Discord: https://discord.com/invite/digital-arms.
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