Evolution of GameFi and improvement of the user experience is essential.

2022 Nov 08

GameFi's constantly evolving model "can make today's AAA gaming companies look like peanuts". Says Jack, of Skale, the multi-chain ethereum native network powering Web3 games.winning hand containing one kong (or pung) of a value honorific, esp. mahjongCEO. Indeed, blockchain-based gaming and metaverse projects have shown resilience in a bear market that has dragged many players in the virtual currency industry down, as DappRadar reported, with $1.3 billion in the most recent quarterFunding is in place.

However, finding a sustainable GameFi model remains challenging. User experience is one of the biggest problems in the industry due to the cost of gas and the complexity of buying, owning and trading NFTs.

winning hand containing one kong (or pung) of a value honorific, esp. mahjongHe noted that "charging users a fee every time they launch a transaction or smart contract discourages them from playing", adding that "there is a lot of work to be done on usability to appeal to the mass market".

According to DappRadar, despite usability challenges, Web3 games accounted for nearly half of blockchain activity across 50 networks in the last quarter, with 912,000 unique active wallets per day interacting with the game's smart contracts in September alone. interacting with the game's smart contracts.

The most common in-game business models include P2E (play-to-earn), where players can earn rewards such as tokens or NFTs (non-replacement tokens), and P2O (play-to-own), which is a more detailed version of P2E that provides players with proof of ownership of rewards and peer-to-peer transactions ), which is a more detailed form of P2E.Recent analysis of Absolute Reports.predicts massive growth for GameFi within the next six years, with P2E gaming estimated to be valued at USD 2.8 billion between 2022 and 2028.

'We are witnessing the birth of many different economies with different distribution mechanisms and the development of different token models (single tokens, two tokens, NFT-driven, etc.). Only time will tell how suitable and reliable each is in the long term in an open global market," Sonny Ziopani, research analyst at Delphi Digital, told Cointelegraph.

While virtual currency gaming companies are gaining prominence in the industry, some studios are looking to AAA games (high-budget, popular games produced and distributed by major publishers) as a reference to improve usability.

Founded in 2020, game studio Gunzilla Games aims to combine gaming and blockchain, allowing players to own assets as NFTs in the game and access full customisation of characters and weapons.

Brad Korolev, co-founder and CEO of Gunzilla, told Cointelegraph about the company's approach to the gaming experience, "All blockchain-related functions exist in the background, so gamers don't have to set up a wallet, swap tokens, or any other 'normal ' There is no need to perform virtual currency-related tasks".

'We see GameFi at a critical juncture. On the one hand, GameFi has the incredibly unique ability to attract the next billion users into the virtual currency space (given how many gamers there are worldwide). On the other hand, it also states that gamification does not cater to traditional gamers and is only focused on the blockchain and the play-to-earn aspect of gaming".


Source: https://jp.cointelegraph.com/news/aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo