Home CryptocurrencyBitcoin GameFi needs a wider selection of products to take off, says Animoca Brands CEO

GameFi needs a wider selection of products to take off, says Animoca Brands CEO

by SuperiorInvest

According to Robby Yung, CEO of Animoca Brands, the lack of a wide selection of high-quality products is what has so far prevented crypto games from gaining traction among mainstream users.

One of the newest and most promising crypto sectors, GameFi, or blockchain-enabled gaming, allows video game players to earn cash rewards and take ownership of in-game items.

Despite the huge potential of the industry, the number of products available in this area is still not enough to attract mainstream users, Yung emphasized in the latest Cointelegraph research panel on venture capital investing. Using an example from the history of mobile gaming, Yung pointed out that it took several years to reach a “critical mass” of available titles.

“The blockchain gaming space is still so nascent in terms of the time it takes to make a good game,” Yung said.

The CEO also pointed to the rapid pace at which the crypto-gaming sector is changing and the need for companies to be agile and flexible.

“This agility has been an essential skill in this market for years and will continue to be so,” he emphasized.

To learn more about venture capital investing trends in 2023, check out full panel on our YouTube channel and don’t forget to subscribe!

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