Crypto games can become a “killer application” in blockchain technology
An Atari executive has suggested that the scalability of crypto games could one day eclipse all other blockchain-related activities put together – and stated that playing cryptocurrencies “could be a killer application in blockchain technology” because “it there are more players than dealers “. the world.”
Crypto games can become “killer apps” in blockchain technology
Maxime Bucaille, product manager at major video game maker Atari, spoke at a conference hosted by CoinGecko entitled “NFTs Gone Wild” during a panel entitled “What’s Next for Crypto Game?” – Bucaille stated that Atari, once the largest gaming company in the world, has been focusing on blockchain since “early 2020” – primarily focusing on “education” and “investing”.
However, he added that the company is currently “developing a Metaverse product” that will go live “in the second quarter” of fiscal 2022.
“We’re really optimistic about blockchain. We currently spend most of our time developing blockchain. “
Robbie Cochrane, co-founder and COO of ChainGuardians, a science fiction-inspired metaverse and non-fungible token (NFT) platform, said on the same panel that the move by ChainGuardians Atari “embodies the power of interoperability” – an element he claims “does not exist” outside of the blockchain realm.
The event was moderated by Ethan Ng, Co-Founder and CEO of WonderHero, who indicated that there is more potential for growth in this area as “non-gamers can also participate in the blockchain game”. He said there is an opportunity for “commentators, audiences and content creators”. [không chơi game] others “not only participate, but are also” paid “for their contributions.
There are still many difficulties facing the crypto game
Cochrane and Bucaille agree that the game-fi industry still has many rivers to overcome.
Game-Fi refers to the phenomenon where players can actually make money on their games or tokens by playing games. Early Game-Fi pioneers included play-for-money titles like Sky Mavis’ Axie Infinity, which enabled players to collect cryptocurrency by earning in-game currency, as well as creating and selling NFTs.
Many have hastily identified Game-Fi as the next big engine of growth in the crypto space, but both Cochrane and Bucaille have stated that gambling for money is still in the “exploration” phase – although gambling for money is still in development The dizzying growth of Axie Infinity.
“Everyone has seen Axie’s growth and its potential to disrupt countries’ economies. But there are challenges in maintaining this growth. “
Both he and Bucaille agree that problems can arise when the Axie Infinity reaches “peak growth” or when the user base begins to stabilize or even decrease.
In contrast, Cochrane claims his own company “hasn’t fully turned on the gaming economy for monetization just yet,” adding that others in this area “turned” the game off for their own money after a month to refine it further .
The CEO of Atari agrees and points out that there was confusion at the first decentralized exchanges and “first Uniswap” [UNI] is born, then a suitable model will be found. “
However, he noted, “Most people still don’t know how to buy from Uniswap and instead buy tokens on large centralized exchanges like Coinbase. The same is currently true for Game-Fi, he says.
The participants also have their say about the future of the metaverse. Cochrane pointed out the importance of the fact that traditional gaming IPs (intellectual owners) are “stepping into the hyper-centralized and decentralized economy”. As an example, he cites Dencentraland’s partnerships with brands such as Southeby’s and Coca Cola.
Says Meta’s most recent Metaverse pivot (the company formerly known as Facebook) was “discovered” and explains that the Metaverse is essentially “Social Media 2.0”.
“In the Metaverse you can imagine a more real version of yourself. Buying leather in the Metaverse is more valuable than buying a Louis Vuitton jacket, because where you have the greatest presence, you invest the most. “
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