How does a financial analyst become a tech entrepreneur at the forefront of Web3 gaming?
“Web3 games shouldn’t focus on token prices or cash grabs. The key is to make gaming fun and integrate tokens and NFTs as a part of the gaming experience.” - @caseygrooms
Join us as Casey Grooms, co-founder of Soulbound, shares his incredible transformation from crunching numbers at Wells Fargo to revolutionizing the gaming industry. Discover how Casey’s early ventures into Web3 in 2017 with a music tech company set the stage for Soulbound's evolution.
Initially focused on tracking in-game achievements, Soulbound has now grown into a vibrant social gaming platform that offers a Twitch-like experience specifically for Web3 gamers. Casey’s journey and insights offer a captivating glimpse into the future of gaming and content creation.
Casey also reveals groundbreaking revenue models that are changing how gamers and micro-streamers monetize their passion in the Web3 space. Imagine transitioning from traditional gaming models to earn-to-play systems where your engagement translates to real rewards!
Soulbound's bounty boards, user-generated content, and community-building features provide multiple income streams. Exciting innovations like integrated live streaming and prediction markets promise even more opportunities for creators to boost their earnings. Plus, get a sneak peek into Soulbound's upcoming Telegram app designed to gamify streaming and betting. Don’t miss out on this chance to learn how Web3 is redefining what it means to be a gamer and a content creator.
The Evolution of Social Gaming: Insights from Casey Grooms of Soulbound
In a recent episode of the Web3 CMO Stories podcast, Joeri Billast welcomed Casey Grooms, co-founder of Soulbound, to discuss the dynamic and evolving world of Web3 gaming. The conversation spanned Casey’s journey into the Web3 space and Soulbound’s innovative approach in revolutionizing social gaming. Below are key insights and takeaways from their discussion.
A Fascinating Journey into Web3
Casey Grooms has had an impressive career trajectory, beginning as a financial analyst at Wells Fargo and evolving into the founder of multiple startups. Among them was PocketMath, the world’s largest self-serve mobile advertising platform. His journey into Web3 began in 2017 when he co-founded a music tech company aimed at decentralizing the music industry. The idea was to allow artists to tokenize their work and create deeper fan engagement.
“We built a platform where artists could instantly create their own tokens, allowing fans to invest early and benefit from the artist’s future success,” Casey shared.
The Advent of Soulbound
Soulbound was conceived about two years ago with a vision to track in-game achievements throughout the Metaverse and Web3 gaming. Casey explained the platform’s initial focus:
“We wanted to bring the tracking of in-game achievements similar to how Steam operates, but for Web3. Since Steam is against crypto-based games, we saw an opportunity.”
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This led to the creation of a social gaming platform that tracks in-game quests and achievements, allowing users to showcase these accomplishments on their profiles. To enhance user engagement, Soulbound integrated User-Generated Content (UGC) features, enabling users to share gameplay clips and screenshots.
Revolutionizing Live Streaming
Soulbound’s latest feature is a live streaming service tailored specifically for Web3 gamers. Casey described this as a new version of “Twitch for Web3,” where gamers can stream their gameplay and earn rewards in real-time.
“We are about to launch a live streaming feature where users can stream their gameplay and get paid in real-time. We’re also adding a bounty system, where game partners put up funds, and users earn by streaming and fulfilling specific tasks.”
Bridging Web2 and Web3 Gaming
A key challenge that Web3 gaming faces is bridging the gap with traditional Web2 gaming. According to Casey, the focus should be on delivering fun and engaging experiences rather than financial incentives alone.
“Web3 games shouldn’t focus on token prices or cash grabs. The key is to make gaming fun and integrate tokens and NFTs as a part of the gaming experience.”
He emphasized that appealing to younger gamers, who are more open to Web3, requires creating rewarding yet non-commercialized gaming experiences.
Innovative Revenue Models for Gamers
Casey also touched on the emerging revenue models for gamers, especially micro-streamers. The introduction of a bounty board system and the support for UGC offers unique opportunities for content creators.
“Our bounty boards allow gamers to earn by streaming their gameplay. Additionally, our Soulbound streamers will create unique content and earn from our upcoming token drop. We also support UGC, allowing content creators to sell emotes, stickers, and more.”
Community Building in Web3
Community building is a fundamental aspect of Web3 projects, and Soulbound has adopted strategies to merge and grow gaming communities. Casey shared some successful methods they have implemented.
“We collaborate with game partners to merge communities. Hosting daily and weekly tournaments and game nights has been very effective in activating and engaging users.”
These community events encourage gamers to create user-generated content and help sustain a vibrant, interactive ecosystem.
Fun New Possibilities in Live Streaming
Soulbound’s live streaming platform adds another layer of engagement by integrating prediction markets. This allows viewers to bet on in-game events in real-time, creating an immersive experience for both streamers and viewers.
“Users can bet on fun, random outcomes during streams, such as whether a player will pick their nose in the next 30 seconds or win their match. This gamification drives revenue for content creators and enhances viewer engagement.”
Get Involved with Soulbound
For those interested in learning more about Soulbound, Casey encouraged listeners to connect and join the community.
“Visit soulbound.gg, follow us on Twitter at soulbound_gg, and join our Discord. You can also contact me directly via email at casey@soulbound.gg.”
Conclusion
Casey Grooms’ insights into Web3 gaming, community building, and innovative revenue models provide a clear picture of the future of social gaming within the Web3 ecosystem. The evolution of gaming platforms like Soulbound demonstrates how user-generated content, live streaming, and community engagement will shape the next phase of the gaming industry.
Key Takeaways:
1.Journey into Web3: Casey’s career path, from financial analyst to Web3 innovator, highlights the exciting opportunities in decentralized technology.
2.Soulbound’s Evolution: Soulbound started with tracking in-game achievements and has since grown to include UGC and live streaming.
3.Bridging Web2 and Web3: Games should focus on fun and engagement to attract traditional gamers, rather than emphasizing token prices.
4.Innovative Revenue Models: The bounty board system and UGC features offer sustainable revenue streams for streamers and content creators.
5.Community Engagement: Collaborations with game partners and hosting events are key strategies for building an active and engaged community.
6.Live Streaming Potential: New features like prediction markets add layers of fun and revenue-generating opportunities for both viewers and streamers.
Soulbound continues to innovate in the Web3 space, transforming the way social gaming and community engagement are approached in the gaming industry.
Casey Grooms