Tuesday, 27 February 2024

Crypto News

Execs weigh in on blockchain gaming future

Execs weigh in on blockchain gaming future

As Web3 gaming showed resilience despite the crypto bear market, professionals working in the space predict that the next year will be more eventful for the blockchain gaming niche. 

Henry Chang, the CEO of the South Korean game development company Wemade, believes that there will be an increase in blockchain-based games released in 2024. Chang told Cointelegraph in a statement that there will be more complex applications of Web3 within games. Chang said:

“As developers gain experience and confidence, we should also see greater experimentation and sophisticated use of blockchain elements in-game mechanics and gameplay, and a wider variety of Web3 games of different genres.”

Besides the number of games coming out, Chang also noted that more gaming studios are bound to include Web3 in their portfolio. The executive believes that this is due to the inherent characteristics of blockchain gaming, which allows it to provide new revenue streams, create new experiences and make community engagement more immersive through token-gated benefits. 

Chang also pointed out that gaming combined with the blockchain returns in-game asset ownership to gamers, connects the real-world economy to games and makes games interoperable by tying them into “a cohesive whole.”

Bartosz Skwarczek, the founder and CEO of G2A Capital Group, the company behind the gaming marketplace G2A, echoed many of Chang’s sentiments and said there will be more collaboration between traditional industry players and Web3 startups in 2024.

According to a press release on Nov. 2, Microsoft backed Chang’s Wemade with its Web3 push. On Nov. 16, Skwarczek’s G2A, which is a traditional game vendor, opened its own NFT marketplace focused on Web3 games.

Skwarczek told Cointelegraph that more collaborations will lead to more mainstream Web3 gaming adoption. Skwarczek said: 

“With improved accessibility and user-friendly interfaces, we can also expect more elaborate game designs and more engaging gameplay mechanics, attracting a broader audience.” 

The executive believes that integrating nonfungible tokens (NFTs) for in-game assets and the…

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