Industry execs expect more big players to jump in

Despite the bullying that gamers give to traditional gaming companies stepping into non-fungible tokens (NFTs), executives working in the NFT gaming industry believe that more traditional gaming companies will enter the market this year. I look forward to participating in this field.

From the entry of mainstream gaming companies to the relevance of NFT gaming models such as Play-to-Earn (P2E) and Move-to-earn (M2E), various industry experts are discussing NFT gaming trends for 2023. I have shared my insights.

Adoption of traditional game studios ranked second in factors affecting the advancement of blockchain games.Source: BGA Report

Aleksander Larsen, co-founder of Sky Mavis, the team behind the popular P2E game Axie Infinity, told Cointelegraph it’s only a matter of time before more big players enter the space. . But Larsen also thinks these companies will hold out until they see their games generate billions in revenue.

Apart from gaming-focused studios, Larsen noted that tech giants like Google are involved, and noted that Google Cloud also runs a Ronin Network validator. “Google and he are excited to see big tech companies like Microsoft going even deeper into the blockchain gaming industry,” he added.

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When asked about the relevance of P2E in 2023, Sky Mavis executives admitted that the model is currently flawed. He explained:

“As a pioneer of the first play 2 earning game, I can confidently say that it will not work in its current state. It has to be fun.”

Zoe Wei, senior business director at BNB Chain, agreed with Larsen’s thoughts.Executives said further experimentation and analysis are needed to make the token economy sustainable for most games.

“There was too much emphasis on the acquisition mechanics and not enough on the fun of the game,” says Wei. Nevertheless, Wei believes that both P2E and he M2E concepts are relevant in his 2023, but need further improvement.

Aside from the NFT game model, Wei also commented on the topic of traditional game producers entering the space. Wei believes blockchain technology and his NFTs will bring “undeniable benefits” to game producers and gamers. “This he has already seen countless game studios enter web3 in a year and this is a trend he will continue into 2023,” he added.

Related: Final Fantasy creator reveals ‘aggressive investment’ in blockchain games

Meanwhile, Carlos Pereira, a partner at Bitkraft Ventures, a gaming-focused venture capital firm, is also confident that more gaming businesses will emerge this year. He explained:

“2022 has seen a number of funding rounds related to spin-off type projects from traditional US and European gaming businesses. I expect it to continue.”

Pereira also said that while Asian gaming companies have become more public with their crypto push, Western companies have also swooped in, but are “more cautious about PR.” Nonetheless, executives believe the trend will continue.

When asked about P2E, executives argued that the first iteration of the concept should be phased out. “I hope this first implementation of Play to Earn is completely buried,” he said. According to Pereira, such a concept doesn’t make sense as a business model because there was no way to attract paying gamers to play.

Regarding other NFT gaming trends for 2023, Alex Altgausen, co-founder of NFT game Banksters, says community members will have higher standards in 2023. According to Altgausen, 2021 and he published his NFT games, which acted like filters and were published solely to take advantage of users. He explained:

“Gone are the days when a cute website and the promise of a game could do anything.”

This means that 2023 will not be an easy jump for NFT game investors who can see their assets, product development, partnerships and media footprint before investing in an NFT game.