Depending on the person you are asking, blockchain gaming could be or will be the next trend in Web3 or an unpopular trend that businesses should steer clear of engaging in.
The market is divided and determining an objective temperature about the subject isn't easy. Minecraft removed NFTs from their famous title. GameStop launched an NFT market and The WAX blockchain has grown into an important hub of Web3 gaming as well Axie Infinity has been striving to recover from the infamous $615 million hack that occurred at the beginning of the year. Two of the most played games using NFTs, Decentraland, and The Sandbox are battling to surpass the 1,000 active monthly players.
Whatever way a person or company is feeling about blockchain-based games they'll certainly influence the future of the industry. The implications that NFTs bring to the gaming industry over the long term is yet to be observed. However, we can make some educated speculations.
Blockchain gaming's future
To gain a better understanding of the situation in the gaming industry that uses blockchain technology nft has spoken with Sekip Gokalp who is the Core Strategist for the Web3 gaming company Infinite Arcade. The company creates an meta layer that incorporates metaverse dynamics , such as NFT ownership in games that are already in existence They also work alongside gaming companies to make existing games more profitable.
Gokalp is the co-founder and CEO of the mobile game publishing platform Coda that launched Infinite Arcade in February after spending the majority of its resources to planning ahead for the future in blockchain-based gaming. Its Coda platform has grown so well-known that it houses more than 15,000 mobile game developers.
"We started a soul search," Gokalp stated about the company's recent shift to blockchain-based gaming. "We tried to understand: what is our role in a very late-stage mobile gaming market where there is little room for disruption and innovation left?"
The solution? Honing in on Web3. Gokalp tried his hand at Bitcoin during 2014 following an introduction to cryptocurrency by a group of friends. He then started investing in the early stages of Web3 tech companies in the year 2016 , following the sale of an ad tech firm he had developed successfully. In 2021, as Axie infinity as well as Sandbox Sandbox were making waves in the gaming world Gokalp was eager to make it as close as he could. "At some point, I realized I was spending as much time exploring these games for fun as I was running a company," Gokalp explained. "That's what led to Infinite Arcade."
It's remarkable that a successful gaming platform that is free to play eliminated its traditional business to enter blockchain gaming. When asked whether IA will bet on the growth of the sector, Gokalp said: "100 percent."
Blockchain is an extremely pro-blockchain viewpoint to consider a range of widely-varying opinions about the potential of blockchain technology in the world of gaming. However, Gokalp doesn't care about even the loudest anti-blockchain people as he believes that this is a healthy debate is not dissimilar to the crypto community itself.
"There's so much out there in both camps," Gokalp observed. "There is an insane tribalism of all kinds. In crypto, there's no unification. Therefore, I believe it is beneficial to speak out and challenge things. But to say that a specific technology isn't suitable to be used in A, B or C scenarios is a broad statement and, often, is just not true."
Gokalp believes the genie has come in the bottle for blockchain technology. It's not feasible for the technology to disappear completely. It doesn't matter if people like the idea or not Web3 has its role and applications for games.
Ownership, not P2E usage cases will determine the direction of mainstream adoption
Gokalp shares the opinion of skeptics, that players of play-to-earn-games should concentrate in the direction of "play" and less on "earn" if they want to draw in users. The current emphasis on cases of financialization Gokalp believes is also likely to be a natural aspect of the growth of Web3 in the gaming industry.
"The fun core of a game is really what makes the game a game," Gokalp said. "But there are new opportunities with crypto -- the actual ownership of tokens and assets and all this happening on-chain in real time without the need for permission to do this -- provided a simple use-case for financialization for many things. It's very natural looking back. Perhaps a few years from the present when we think about the initial exploration phase, where the focus is on the money and the focus is on money, it will seem like a normal thing."
But, Gokalp said that the studios that create the top games are those who are successful in the gaming market. This means that the most successful games are ones that keep their customers returning.
"The financialization use cases are niche," Gokalp declared. "And it's not a most common use scenario. I believe ownership will be commonplace. The possession of things that are the result of a game that you play is the best chance to become more mainstream in the longer term."
Gokalp is also aware that in talking about game development, the VC fund and investors over the past one year, it's evident that the games that are receiving funding have far fromthe ones that are focused on the financial aspect. Games that have basic Web3 principles are believed to be among the most appealing in this respect.
Web3 must confront its technical issue
Much like many other people of this Web3 sector, Gokalp believes that the technical hurdle that Web3 is a barrier for users is among the major factors that hinder its widespread acceptance, whether in gaming or in any other sector.
"People need a seamless, invisible, completely abstracted away kind of experience, whether they're touching a blockchain indirectly or directly," Gokalp said in detail. "For those who use blockchains, it should to be as simple as signing into Spotify by using Facebook's login and the rest is handled by the system in background. It's only when you're trying to access assets that require an immutable chain you'll have know that you're moving assets or funds and they can be lost."
Gaming Gokalp states, is the top to get people onboarded to Web3. Being one of the most popular types of consumption entertainment, it's more likely to succeed than any other. Web3 is also flexible to the fundamentals upon the basis of which Web3 is constructed in comparison against other fields.
"I'm not an idealist, but I think it's games," Gokalp told the nft right now. "They're far more decentralized, bottom-up, creative, driven by the right mindset and the right kind of people. Social media is controlled by companies that are bound to be impacted by true decentralization. They know they are aware of it. They don't want to. And it's obvious that they're trying to avoid it and attempt to take ownership of it. I am awestruck by their conviction. But , obviously, we know from their past behavior what is most likely to be the future behaviour will be from these businesses. I would like to see them not get Web3 also."
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