In Brief:
Brand Revival: Tokyo Games prepares to re-enter the gaming market with a refocused approach but has not disclosed detailed plans.
Failure Analysis: Following financial burdens and user experience issues, Tokyo Beast was shut down despite its early success.
Strategic Shift: The company now plans to develop a platform with legal betting options, learning from its previous operational challenges.
Tokyo Games Announces Strategic Shift Following Earlier Setbacks
Tokyo Games is making a comeback after the dissolution of its initial gaming venture, Tokyo Beast, marked by early achievements but eventual failure due to unsustainable costs and difficulties in user experience. The foundation’s return was signaled in an October 16 post, though details about the new initiative were sparse.
Rise and Fall of Tokyo Beast
Tokyo Beast, which launched on June 8, initially gained traction as a web3 game featuring advanced 3D combat and interactive rewards. The game allowed players to manage and breed android fighters, competing in timed battles. It saw over 300,000 downloads and generated $1 million in revenue in its first week. However, the model proved to be financially unsustainable. Generous prize distributions and a model that let players earn rewards without financial input led to a decline, prompting the decision to close the game on August 24.
Compensating Players and Winding Down
In response to the shutdown, Tokyo Games set up a compensation scheme that distributed $350,000 in USDC to the players for various in-game items and assets. This refund process was completed by September 30 as all game-related digital content was erased from platforms.
Pivoting to Legal Betting
Despite these challenges, Tokyo Games observed that the betting features within Tokyo Beast were well-received, hinting at a potential new direction for their business model. Moving forward, they are keen on developing a platform centered around legal betting, aiming to capitalize on the interest shown during their initial foray.
Community Reaction to the New Direction
This new focus has not been without its detractors. Certain sectors of the web3 gaming community have been critical, lamenting the pivot to betting as misguided. Others remain cautiously optimistic, hoping the new approach may redeem the previous project’s assets.
The Uncertain Status of TGT Token
The TGT token, initially integral to Tokyo Beast’s operations for staking and match predictions, faces an uncertain future. While it had a crucial role in the original game’s ecosystem, the company has yet to clarify how it might be utilized moving forward, leaving stakeholders awaiting further announcements.
Tokyo Games is poised to reshape its strategy by learning from past experiences and possibly revitalizing its presence in the gaming industry with a fresh focus on legalized betting mechanisms.
