The pursuit of gaming fun will save GameFi and push it into the mainstream = Blockchain gaming organisation.
Kevin Hsiao, Executive President of the Asian Blockchain Gaming Alliance (ABGA), said he is looking to several 'triple-A' blockchain game titles to push GameFi into the mainstream and save it from a bear market.
In an interview with Cointelegraph during Asia Crypto Week, Xiao pointed out that one of the obstacles to mainstream adoption is that current GameFi titles do not care about 'game performance' or user enjoyment, but rather about Non-Functional Tokens (NFT) and play-to-earn (P2E) features, he noted.
In the P2E model, gamers typically buy NFTs to play the game and then earn game tokens that can be converted into Bitcoin (BTC), Ethereum (ETH), legal tender or stablecoin.
Xiao acknowledges that the current GameFi is fun for many, but says that for future titles to become mainstream, there needs to be a 'balance' to cater for different user preferences.
In his opinion, by moving away from the 'genealogy of existing projects' and taking cues from the mainstream games industry, developers will be able to incorporate features for those who want to play 'for fun' rather than for profit.
In his presentation at a conference in Singapore, Mr Hsiao introduced a number of titles that he considered worthy of a 'triple-A' title, including Illuvium, Phantom Galaxies and Big Time.
Illuvium is an open-world exploratory NFT creature collector and autobattler game, Phantom Galaxies is an online third-person RPG with NFT mech customisation, Big Time is an NFT weapon and clothing customisation It's a monster hunting action RPG.
Backed by a 'very talented team' and 'a lot of money from investors', Xiao said that it could be 'something different', at least 'compared to other recent projects', and if it can build a strong user base by the next bull market, it could be a game changer for GameFi. He stated that this could be the case. According to Xiao, "we will see results this year or next year".
Launched in Singapore on 25 November 2021, the Asia Blockchain Gaming Alliance (ABGA) is a non-profit organisation co-sponsored by companies in the gaming industry.