Cheelee says another word

by Arthur · November 2, 2022

The GameFi sector has made a big buzz in the tech and crypto world in 2022, after attracting huge attention from users and investors alike. According to the Binance Research Half-Year Report 2022, capital investments in GameFi exceeded USD 4.1 billion in the first half of 2022.

However, the state of the industry is far from prosperous: the life cycle of an average project is limited. The reasons are poor in-game economy design, low quality gameplay and UX, as well as the complicated perception of crypto across a wide audience. Among key industry drivers in 2022, experts assume the transfer of traditional Web2 companies to GameFi, increase of investments, smoothing of the user experience and the explosion in crypto adoption.

And what about the way to appeal to the audience that is far from Web3 economy and experiences, but very responsive to gamification, creativity and education?

Table of Contents

Attention economy is the key

147 minutes – this is the daily time spent on social networks by Internet users worldwide in 2022, says Statista. It is about 2.5 hours that many users relax scrolling the news feed without having any idea how to make profit from it. Although this audience is large and eager for new opportunities, and a number of social platforms already exist, none of them has previously presented a synergy of old but gold revenue principles of attention economy with well-balanced sustainable business model and advanced interface. .

You might ask, hasn’t anyone introduced some sort of Web3 TikTok yet? It looks like the answer is “no”, but it’s very likely to happen soon with the launch of Cheelee – a GameFi card video platform from the creators of the NUTSon app with a 1.5 million user base and 3 years of development history.

Attention is a highly profitable capital asset and modern currency as it can be converted into money and wealth. In the traditional Web2 creator economy, bloggers are the best examples of making money from it, and the team behind Cheelee brought this idea to a wider audience of users who see, create and play within the blockchain-based platform and have no special knowledge of blogging.

Eavesdropping on Web2 and Web3 approaches

It would be wrong to call Cheelee a pure blockchain project, as a significant part of the economy relies on basic principles of monetization that we used to monitor on Instagram or TikTok. Revenue for the app is split between sales of NFTs and traditional social media profits from advertising, brand partnerships and in-game purchases. The other part of this mix is about 30% of the overall income. Additionally, the company has created the Stabily Fund which consistently collects 70% of ad revenue and in-app purchases as well as 100% of profits from NFTs and in-app transactions. It sounds like a really well-balanced model, and no surprise – a number of experts from various fields and crypto VC funds (eg Ryan Horn, Binance NFT BD Director and David McKie, former CBDO of Philips Electronics) have endorsed this type of economy as an important intercept of Web2 and Web3 best principles. As we investigated, the project was backed by a number of private investors and VC funds, including Veligera Capital (US), Infinity Technology Fund (UAE) and VC SILA (CIS).

Beyond the hype

From a practical point of view, it is very nice to admit that Cheelee is a Free-to-Play title that presents NFT glasses to every new user. The company lowers the barrier to entry, thereby inviting a large global audience of 4.5B social media users to test the platform and enjoy viewing and creating content. Each pair of glasses has a limited but renewable attention rate, as well as a number of other features: lenses, radar, battery, memory and frame – all of which affect the amount and speed of rewards earned by the owner.

The GameFi mechanics of Cheelee inject an additional element of insecurity to prevent the platform from hacks and malicious exploitation. It attracts differentiated groups of interest and skills in Web3 and crypto: for those less involved in this sphere, Cheelee offers a practical, high-quality interface and transparent educational interaction with users. That is why the future of this platform is closely connected with the mass adoption of digital and crypto assets.

The app is expected in the coming winter and we strongly recommend shifting the sources of the attention economy from hanging out in regular social events to testing this new safe and exciting Watch & Play & Earn platform. Follow Cheelee’s news on Telegram, Twitterand Discord and don’t miss a great chill’n’earn opportunity next month!