NFT gaming trends in 23 years: industry executives expect more major companies to enter the market

2023 Jan 14

Despite gamers' hard hits against the evangelical gaming companies that have gradually started to deal with non-replaceable tokens (NFTs), executives in the NFT gaming industry expect more traditional gaming companies to enter the sector this year.

A range of industry experts shared their insights on 23 years of trends in NFT gaming, from the entry of mainstream gaming companies to the appropriateness of NFT gaming models such as Play-to-Earn (P2E) and Move-to-Earn (M2E). shared their insights.

Traditional gaming studio adoption ranked second in factors affecting the advance of blockchain gaming Source: BGA report

Alexander Larsen, co-founder of SkyMavis, the company behind the popular P2E game Accy Infinity, told Cointelegraph that it is only a matter of time before more major companies enter the sector. However, he also believes that these companies will refrain from entering the market until they have games that generate billions of dollars in revenue.

Apart from companies specialising in games production, Larsen also pointed to the entry of tech giants such as Google. And the Google Cloud is a validator of the Ronin network.What we are doing.and added: "We are looking forward to seeing big tech companies like Google and Microsoft step even deeper into the blockchain gaming industry".

Asked for his opinion on the adequacy of P2E in 23 years, Mr Larsen acknowledged that the model is currently flawed, explaining that

'As a pioneer of the first P2E games, I can say with certainty that this model will not work as it stands. The game must first of all be fun, and furthermore it must have a solid economic backing that allows players to earn."

Zoe Wei, Senior Business Director at BNB Chain, agrees with Larsen. According to Ms Wei, further experimentation and analysis is needed to make the token economy of most games sustainable.

Mr Wei noted that "too much emphasis was placed on the earning mechanism and not enough consideration was given to the enjoyment of the game." Nevertheless, he expressed the view that both P2E and M2E concepts would be adequate by the end of 2011, although they need to be further improved.

Apart from the NFT gaming model, Mr Wei also shared his views on the entry into the sector by traditional game production companies. Blockchain technology and NFT, Wei said, he believes, have "obvious benefits" for game producers and gamers. He added that "countless game studios have already entered Web3 in the past year and this trend will continue for 23 years".

Meanwhile, Carlos Pereira, a partner at Bitcraft Ventures, a venture capital company focused on games, is also confident that this year will see more games companies entering the market. Mr Pereira explained that

'22 saw a number of funding rounds relating to projects spun off from traditional games companies in the US and Europe. This trend is expected to continue, with several high-profile public launches expected in '23."

Pereira also noted that while Asian gaming companies are becoming increasingly public about their intentions to promote the virtual currency sector, Western companies are also "more cautious about PR", despite a surge in entry. However, he believes that the trend of increased entry will continue.

Asked for his opinion on P2E, Pereira argued that the first version of the concept should be scrapped. 'I would like to see the first implementation of Play to Earn buried for good'. According to Mr Pereira, such a concept has no appeal to players to pay to play it and does not make sense as a business model.

Commenting on other trends in NFT gaming in 23, Alex Altgaussen, co-founder of the NFT game Banksters, said that community members will have higher standards in 23. Althgaussen said that 21 and 22 acted as a filter, exposing NFT games that were only trying to take advantage of users, explaining that

'The days of anyone promising a cool website and a game are over.'

This means that in 23 years, NFT game investors will not jump in easily, but will check assets, product development, partnerships and media performance before investing money in NFT games.