Traditional companies will not take the lead in the next generation of web3 games = WAX co-founder

2022 Nov 05

According to William Quigley, co-founder and CEO of WAX, conventional thinking about games held by the companies developing them and the players themselves could slow the spread of Web3 games.

Speaking on a panel at the Web Summit in Portugal, Quigley said that "trying to make a video game using blockchain is a hassle" and revealed that many products on the market are browser-based but use in-game digital assets on the blockchain. The CEO of WAX added that NFTs (non-replacement tokens) gave independent developers an advantage, allowing them to conduct pre-sales and raise the necessary funds.

'For the most part, it's independent game developers that are making blockchain-based games,' says Quigley. 'The big, triple-A title game companies haven't embraced this yet, and probably for good reason. Because they don't know what the revenue model will be and how it will change their games'.

'I think the big games with millions of sustained daily users will come from new start-up studios. I don't think they will come from the traditional video game market', says Quigley.

Also on the Web Summit panel, Bozena Rezab, co-founder and CEO of Gamee, pointed out that while NFT pre-sales may have some advantages, they also have the potential to 'trap' gamers and developers who want a particular product by putting them in a binding relationship. Quigley also notes that many traditional gamers "can't stand NFTs" because they "pollute the gameplay" and could potentially hold back companies looking to adopt blockchain-based games.

'The biggest novelty for blockchain-powered gaming will be augmented reality (AR) and virtual reality (VR),' says Quigley. 'Then the main revenue model for AR and VR games will probably be tradable items, NFTs, or whatever we call them. I think that would be the next big increase in users'.'