Establishing the principle of play to win applied to the gaming sector was clearly not to everyone’s taste. A formula on which the economic model was based monetization of gaming experiences and digital objects using native cryptocurrencies. As a spearhead, the phenomenal success of the game Axie Infinity (AXS) at the heart of this very dynamic… 2021.
Because since this record breaking, allowing some players to make a living from their gaming activity, things got a little complicated. With the main obstacle being the general decline in the cryptocurrency market making these in-game tokenomics very often impossible to sustain. To the point of procrastination Axie Infinity to review his copy, by going to play AND win. But definitely the blockchain gaming industry, or GameFiis experiencing a “massive change” that no longer fits this trend.
Play to win – Lowers confidence
Tough opponents of the principle of digital monetization of the gaming sector will be able to rejoice. Because even if the historic game to win enthusiasts will not cease to exist, this model seems to have fallen out of favor with professionals in the sector. In any case, this is shown by a recent survey conducted by the structure Blockchain Gaming Alliance (BGA) published today. The latter was conducted with 347 professionals from 252 different projects or companies in the blockchain sector.
And obviously the trend is towards a “return to normality”, according to Rowan Zwiers, co-founder of consulting firm Blockminds interviewed as part of this survey. A dynamic that the figures of this study seem to confirm. Because in 2021, 68% of people asked about the game to win saw it as the main growth driver for blockchain gaming. Confidence was revised down significantly, now falling to 22.5% !
” Looking specifically at blockchain gaming, 30% of respondents cited crypto winter as the most important negative event to hinder industry growth in 2022. Additionally, 27.7% said fear, uncertainty and doubt (FUD) are now their main challenge at the organizational level. The latter can be attributed to the fallout across the industry following the collapse of Three Arrows Capital (3AC), Terra Network and FTX.”
GameFi – Enhance your gaming experience
At any value, the blockchain gaming industry is absolutely unbeatable. With the main objective greater consideration for improving the gaming experience, voted for 35.7% of respondents. And this while continuing to work on the issue of “ownership of assets” which remains the most important point for 69% of them. With, in second and third place, “player reward models (35.2%) and new revenue models (34.3%)”. Because it’s obviously not about making a final cross in “profit”.
ABOUT Pedro Hedderahead of research and analytics at Dapp Insights, the goal is to “pave the way for the next generation of gaming Web3“. with the year 2023 considered by the latter as “decisive” in the field. Because even if the game model to win has “turned out to be unstable”, according to Rowan Zwiers, it has finally made it possible to demonstrate the need to develop a new generation of blockchain games. And it’s not the giant Square-Enix who will say otherwise…
Because it’s not about giving up the game. And as explained Felix Hartmann, chief investment officer of Hartmann Metaverse Ventures, “capital has gotten smarter and more demanding.” With the objective to aim, according to the latter, developing “high-fidelity games based on Unreal Engine that integrates web3 and AI (artificial intelligence)”. Another hype or true sustainable model?