Traditional ideas about games, coming from both the companies that develop them and the gamers themselves, could hold back the adoption of Web 3.0 games, according to WAX co-founder and CEO William Quigley.
Speaking to Cointelegraph at a Web Summit panel held in Portugal on Nov. 3, Quigley said that “trying to build a video game using a blockchain is a headache”, clarifying that many of the products on the market are browser-based but use in-game digital assets on the blockchain. The WAX CEO added that non-fungible tokens, or NFTs, had given independent developers an advantage in games, allowing them to pre-sell and raise needed funds.
“For the most part, the people who are building [juegos basados en blockchain] today they are independent game developers,” Quigley said. “The big triple-A video game companies haven’t embraced it yet, and probably for good reason: They’re not sure what the revenue model is going to be; they’re not sure how it’s going to change their game.”
And he added:
“Actually, I think the first big games that have several million persistent users a day will come from new studios starting out. I doubt they’ll come from the traditional gaming market.”
Also on the Web Summit panel, Gamee co-founder and CEO, Bozena Rezab said that pre-selling NFTs may offer some advantages, but has the potential to “lock in” developers by putting them in a binding relationship with gamers looking for a certain product. Quigley said many traditional gamers “can’t stand NFTs” for “polluting the game,” something that could hold back companies looking to adopt blockchain-based games.
“The biggest kind of novelty on the horizon that could allow blockchain-based gaming to take off would be augmented reality, virtual reality,” Quigley said. “When that happens, I suspect the main revenue model for AR and VR games is going to be something like a tradable item, an NFT or whatever we call it. That, I think, will be the next big user surge.”
As the cryptocurrency and blockchain space continues to grow, so has the number of options available to users interested in having the technology integrated into their favorite games. SupraOracles reported that the market cap of the top 5 most used gaming tokens was approximately $25 billion in February, with the total gaming market predicted to reach over $583 billion by 2030.
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