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If you use Instagram, there's a good possibility that in addition to the yusheng throwing and Chinese New Year attire you saw, you also saw your friends' virtual avatars and QR codes encouraging you to add them on Bondee.
The nation has gone crazy for this brand-new software from Singaporean tech startup Metadream, which over the weekend rose to the top of the free app charts in both the Apple App Store and Google Play Store.
It's not hard to understand why. You may design animated avatars and personalise your own virtual space in the app, and by adding friends, you can use the in-app chat feature to communicate with them. Additionally, you can go into their rooms and write on the walls.
Why are Singaporeans so enthralled by Bondee?
Bondee has been fun for me because it lets me see what my pals are up to. As a former student of Nanyang Technological University's School of Art, Design, and Media, Tan Yue Ling joked, "And it helps that I get to hang out with my buddies exactly like we did in university.
"It's good to still be able to communicate online, even if represented virtually through an avatar, since that we've graduated and can't get together as frequently as we used to."
Boone chat
Having a conversation with Bondee / Photo by PhilStar Life
In fact, Bondee's social features appear to be a major draw for users. The programme gives you the option to join interest groups in addition to adding friends and talking, as well as send messages to make new acquaintances.
Additionally, it helps that the app enables you to add friends by displaying your avatar's style choices on social media and urging others to sign up for the service.
A lot of appreciation has also been given to the graphics, which are 3D and customizable, allowing users to select what they want and show off their preferences. The graphics are lifelike, but not so much that they become uncanny valley-like and unsettling.
But while it could be fun to browse through all the various décor and fashion trends for an hour or two, these elements are ultimately just social and cosmetic. This is nothing new in and of themselves.
I immediately thought, "Isn't this just like Animal Crossing?" when I first learned about Bondee.
Players in Bondee can perform many of the same actions as Animal Crossing, but on a much greater scale.
Pet Crossing
Image from Animal Crossing | Source: IGN
"In my opinion, Animal Crossing is a much superior game overall. Additional features include time-limited events. In addition, I need to beautify a full island. Hazel Lim, an enthusiastic gamer, adds, "And I can add pals to create the island with them.
However, the fact that there appear to be plans to bring NFTs into Bondee strikes me as being the most suspect.
Users express worries about forthcoming NFT features
As it turns out, many players appear to share this apprehension, and they have good reason to be concerned.
NFTs have been hailed by industry veterans as one of the pillars of the upcoming bull run in cryptocurrencies, and prices have been rising over the previous two weeks.
Players would find damning evidence that NFT integrations are very much in Metadream's plans if they cared to read Bondee's privacy policy. It is mentioned that users will be able to buy B-beans with fiat money and exchange them for NFTs.
nft bondee beans
In Bondee's private policy, NFT is mentioned. Photo Credit: Burhan via Twitter
In addition to this, Metadream has already faced criticism for allegedly improperly processing consumer credit card information, while the business has refuted the accusations.
How much time can Bondee retain its throne?
There is no doubt that Bondee has attracted the interest of many in the cryptocurrency world. One reason for this is the number of individuals who can be attracted to social platforms with the correct combination of social features thanks to its instant success.
Bondee is not, however, the pioneer in his field. There is already a rival for it: Decentraland.
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Decentraland music event / Photo by NFTs.
WTF
You can add friends, communicate with them, make new friends, conduct meetups, and more, much like Bondee. On the metaverse, some of the more inventive people have even managed to host large-scale events like concerts and virtual fashion weeks.
Despite this, Decentraland has not been able to keep a large number of members due to the lack of other activities that would keep them online except socialising.
After all, why not use the standard messaging apps like Telegram or WhatsApp if you want to chat someone, especially someone you know?
Decentraland is currently experiencing a user shortage as a result of the inability to maintain interest in the platform.
Decentraland's creative director Sam Hamilton asserted that there are typically 8,000 users daily, despite DappRadar's estimation that there are fewer than a thousand active users daily.
individuals that are currently active on Decentraland and The Sandbox
Active users on Decentraland and The Sandbox, according to this image from New World Notes.
Bondee may be experiencing great numbers right now, but it remains to be seen if they can continue their success.
NFTs will play a role in this, as many people have predicted.
The most typical application of NFTs in games is as collectibles that produce additional NFTs or tokens that can be exchanged for money. Axie Infinity, an NFT game that adheres to this same premise, has so far had the most success.
NFT games, however, are not a quick fix that can be applied to any game to generate easy cash.
In reality, even Axie Infinity has struggled to maintain player engagement. These games, which are marketed with the phrase "play to earn," eventually turn into a tedious grind that players engage in in order to acquire tokens for a profit; after the enjoyment factor wears off, the tokens are sold and the games are abandoned.
The number of players for Axie Infinity has been dwindling
The number of players for Axie Infinity has been dropping.
Is there any chance Bondee will succeed if Axie Infinity couldn't? The novelty of customising your avatar may last for a time, but if fresh activities and new designs are not consistently planned and released, it is possible that Bondee's novelty will fade.
Even a tiny player exodus might start a vicious cycle where all but the most devoted gamers depart for platforms like Bondee that rely so heavily on socialisation components to attract new users.
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NFTs are not a magic bullet.
NFTs are obviously not a miracle cure that Metadream can just deploy to make Bondee a long-term success instead of an overnight hit.
However, that is not to suggest that NFTs have no benefits to offer Bondee. Instead, Metadream has to understand that NFT integrations are serious business and that failure in the metaverse is not treated kindly.
Porsche's NFT mint debuted last week, and the company received scorn for its efforts. After the NFT community mocked the event and criticised Porsche on Twitter, Porsche issued a statement calling a halt to the initiative, citing a lack of support from the community.
Porsche said that they are reducing the availability of their NFTs.
The NFT community declined to support the initiative for the obvious reason that Porsche NFTs were nothing more than digital copies of genuine automobiles with no practical purpose.
Members of the NFT community are selective about the causes they back since they are not just another market from which businesses may profit.
Understanding the Web3 community and providing genuine value to clients are essential for successful NFT releases. Examples of how NFTs and Web3 releases can be done include Tiffany & Co. and Nike.
Nike launched its own community-based platform for users to create and buy digital wearables, as well as doubles as an educational platform to onboard its Web2 audience onto the Web3 space, rather than rushing towards an NFT mint. Nike did this by making acquisitions and partnerships in the metaverse and Web3 space.
When it first unveiled its CryptoKicks line, NFTs fetched more than $100,000 per shoe.
When Tiffany and Co. made their NFTs redeemable for actual jewellery, the collection—named NFTiff—sold out in less than 20 minutes of the mint's opening. This release is thought to have earned the corporation about $12,5 million in revenue.
NFT releases can be profitable, but businesses should exercise caution in their approach, and Bondee is no different.
The truth is that there are many NFTs available for those looking to enter the Web3 market, and Bondee has yet to establish why its specific brand of NFTs is worthwhile purchasing.
The community that Bondee has recruited, on the other hand, appears to be dubious about its intended NFT release, and for good cause.
The fact that Metadream appears to be concealing NFT integration ambitions within the fineprint does not help matters either because it is still unclear how Bondee's NFTs would benefit consumers.
It will be challenging to predict how Bondee's NFT release will be received by either its present player base or NFT aficionados if the integrations are limited to premium collections of clothing or decorative items.
Even though Bondee has experienced considerable success over the past week, it currently feels as though the neighbourhood is holding its breath for what's to come. Whether Bondee will be recognised for introducing a breath of fresh air to the NFT scene or if they will eventually be forgotten depends on how they handle the delicate position.
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