Why The Future Of Gaming Will Be On Channel & More Breaking News Here
According to many people actively involved in blockchain gaming, the promise of player-owned assets and circular token economies is seen as the logical evolution of entertainment and will change the way people view gaming, as Cryptoslate reports. .
Anthony Yoon, the general partner of ROK Capital, is one of them. Yoon said in an interview with CryptoSlate that he believes blockchain is where gaming will go in the future, which is why his fund has sponsored a number of blockchain gaming companies looking to get in. in the Korean gaming market. The fund backed Ignite Tournaments, a mobile esports play-to-earn organizer that also operates as a streaming platform with cryptocurrency and NFT payments. The ROK GameFi wallet also includes Nine Chronicles, a fully decentralized RPG, and CyBall, a football-themed P2E blockchain game, Cryptoslate noted.
Cryptoslate noted that GameFi projects’ attempt to compete with well-established games from major studios is one of their toughest hurdles. Yoon claimed that more and more new GameFi projects are trying to compete with AAA titles like Ubisoft or EA, which are pretty much all doomed to fail.
Instead of looking for GameFi projects to support well-funded games, ROK Capital wants to attract established game studios in the blockchain industry. Blockchain gaming is of interest to a lot of “curious crypto studios”, according to Yoon.
Yoon’s home country of South Korea is the world’s fourth-largest gaming market, so even a small increase in GameFi usage can expand the fledgling industry to millions of consumers. For game designers, the nation is Mecca, and the majority of them could just switch to blockchain gaming.
Yoon thinks it will take another year before we see the full potential of the blockchain gaming industry. According to him, the industry will not fully realize its potential and demonstrate that it is here to stay until more GameFi projects release their alphas and more AAA studios enter the market.
(With information from Cryptoslate)
Also Read: Sato Technologies’ Fanny Philip on the Impact of the Bear Market on Cryptocurrency Companies
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