Yuga Labs, the company behind Bored Apes and CryptoPunks, has partnered with Helika, a Web3 analytics platform, to enhance Web3 gaming analytics. Helika has recently raised $4 million to expand its platform and utilizes wallet information to capture data about user behavior and track it across a social graph.
Using data analysis to enhance products and target gamers
By aggregating individual data into cohorts of users with similar behavior, Helika can provide broader insights into gaming preferences and behavior. Leading Helika’s funding round was Diagram Ventures, with participation from strategic angels, including game entrepreneur Marc Alloul from Montreal.
The platform’s objective is to provide gaming studios and NFT projects with a suite of products that can help boost growth and product performance. These products include gathering sales and royalty data, analyzing user wallet activity, onboarding new users, and determining optimal mint pricing for NFT drops.
Yuga Labs is currently developing multiple game initiatives and has enlisted Helika to aid in the decision-making process on which games to pursue. By utilizing the Helika platform, Yuga can gain an understanding of how users interact with their products, leading to informed strategic decisions.
The lack of visibility into the reach, retention, and revenue of NFT collections has been a significant hurdle for many Web3 gaming studios and NFT projects. However, Helika’s platform provides much-needed insights into these issues, empowering top Web3 companies to make better strategic decisions.
Partnering with the largest web3 gaming and Metaverse projects
To provide analytics, Helika has partnered with several companies, including Sandbox, Azra Games, Azuki, and five triple-A game studios. Helika has analyzed the performance of Yuga’s skill-based game, Dookey Dash, and uncovered fascinating data indicating that its performance matches and, in some cases, surpasses that of comparable Web2 games. Y
Yuga Labs introduced complex and innovative mint mechanics through a narrative-driven experience that familiarized new players with the world of Web3. Impressively, over 75% of Dookey Dash players were new to the Bored Ape Yacht Club ecosystem.
Yuga Labs’ chief gaming officer, Spencer Tucker, has established methods to determine internal and external benchmarks for Dookey Dash to focus the team’s efforts and attention on future improvements. Tucker stated:
“We’re trying to push the boundaries, especially on the blockchain tech side. It’s an interesting problem space. I don’t think a lot of people understand the complexities of designing and building Web3 games. There are so many things that are so counterintuitive to Web2 gaming that you would never even have to consider. Just because people own the content they can sell it. And like what that does to your game design and balance and stuff is complex, to say the least.”
Helika aids Yuga Labs in expanding its empire
Helika’s platform provided valuable visibility into the product, assisting Yuga Labs in better understanding how to enhance the player experience. Upon analysis, Yuga Labs discovered that Dookey Dash’s engagement was more robust and more extended than initially anticipated, indicating impressive retention rates and a high influx of new players into the ecosystem.
The analytics company is merging data from Yuga’s on-chain and off-chain events to build a comprehensive player profile. From there, it generates competitive analytics to inform developers about a player’s activity on other applications outside their game.
According to Anton Umnov, the CEO of Helika, this feature enables developers to understand their competitive landscape and track the movements of players in and out of their applications. By using Helika, developers can gain insights into their users’ behavior and optimize their gaming experience to meet their needs better.
Helika plays a crucial role in unlocking the value of both Web2 and Web3 game data. With its capacity to offer comprehensive analytics to Web3 gaming, the industry can anticipate better-informed strategic decisions, deeper insight into user behavior and interests, and a more tailored gaming experience.