WHAT IS FUTURE OF NFT GAMING IN 2023?

Are Web3, cryptocurrencies and NFTs taboo among so-called lifelong video game players? In the world of games, the reception of web3 games is quite mixed. It is enough to remember the position reversal of Ubisoft CEO, Yves Guillemot , on the integration of NFT in his games.
 

However, the numbers speak for themselves: since the beginning of 2022, NFT gaming development more than 5 billion dollars have been invested in the development of blockchain games . Would there still be a market?

To find out, the company Laboratorios Coda conducted a survey of 6,921 candidates divided between the US, England, Brazil, South Africa and Japan. 81% of the players the panel gathered were unfamiliar with cryptocurrency; 16% were knowledgeable about NFT gaming and 3% were non-gamer cryptocurrency users.

For the entire panel questioned, the main interest in playing an NFT game is to earn cryptocurrencies and not to play for fun. In this, we see that Web3-gaming has not reached its goal so far. The economic interest works for a while in a public won over to the crypto cause, but the general public just wants to have fun.

WEB3-GAMING: MULTIPLE BARRIERS TO ENTRY

The web3 player must install the correct network, acquire cryptos and send them. For that, it is obviously necessary to have bought some and therefore be listed on a stock exchange .Often having a wallet like Metamask is mandatory

Crypto-gaming, will the barriers to entry be gradually erased?

For now, investing in an nft game is a real obstacle course for a newbie. And at that point, the player motivated by curiosity hasn’t reached the end of his concerns. Because many play to earn require an investment before even having started playing . We are talking here about several hundred euros to acquire a first NFT to start the game.

However, blockchain technology is so powerful and disruptive that all is not lost. GameFi could significantly outperform traditional AAA games, as long as companies in the sector manage to face the main challenges they face today.

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WILL GAMEFI SOON BE AHEAD OF AAA GAMES?

According to data published in DappRadar’s BGA Games report in October 2022, blockchain games and metaverse projects accounted for $1.3 billion in transactions during the last quarter.

This figure is 48% down compared to the second quarter of this year. However, it represents nearly double last year’s total fundraising as a whole.

Despite the crypto winter, blockchain gaming and metaverse projects continue to grow compared to 2021. Recently, SKALE Labs CEO Jack O’Holleran has noted the same thing: “Today’s AAA game companies” might “look like peanuts.” before the continuous evolution of GameFi.

To clarify, Skale is an Ethereum (ETH) based multi-chain network that powers web3 games, while AAA games refer to those produced by large publishers and benefiting from a relatively large budget and media coverage.

CHALLENGES TO OVERCOME, BUSINESS MODEL TO FIND

Although GameFi has development potential that could allow it to surpass traditional games, companies in the sector must face a series of challenges .

The difficult challenge ahead is also an opportunity for Calo Metaverse to prove stronger with the right mission and vision from us. The desire to create value not only from financial profits, but also brings a lot of useful knowledge for you to better understand the Metaverse World, the value of mental health improves when you practice with Calo Outdoor and Calo Indoor every day, and hours of stress-reducing entertainment with gamefi features that we incorporate when you join in app.