The celebrated connection between blockchain and gaming has encountered several obstacles that have left many wondering if the new crypto and gaming sector will ever live up to its potential.
In the fifth episode Hashing It Out podcast, Cointelegraph’s Elisha Owusu Akyaw and Animoca Brands CEO Robby Yung discuss how the blockchain gaming industry is pushing forward despite the challenges.
Robby Yung believes the problems are on both sides. As for blockchain developers, Yung argues that the industry has been unable to educate the masses about the benefits of blockchain technology. According to Yung, people need to understand that owning their digital assets is a disruptive technology.
On the other hand, Yung points out that the gaming industry has a conservative trend where players are reluctant to change. Yung recalled the backlash from mobile gamers and free-to-play games they experienced as prime examples of conservative culture among gamers.
Yung recalled how mobile gamers disliked the personal computer (PC) and console gaming communities, who felt that mobile phones could not provide an authentic gaming experience. He also cited the rejection of free games they received for introducing the concept of free-to-play and paying for in-game items. Yung believes that the value of blockchain technology will eventually convince traditional players.
Some analysts say so blockchain games are not fun and monetary rewards alone may not be enough to attract adoption. The CEO of Animoca Brands believes such criticism is unfair to a fledgling industry that is barely three years old. According to Yung, it takes time to make decent games. He was referring to the mobile gaming industry where most of the games that were launched before Angry Birds are not memorable and development can be slow in the gaming industry.
In the episode, Elisha and Yung also discuss:
- How game developers can raise capital
- Tokenomics for blockchain games
- The dynamics of free-to-play gaming with tokenized assets.