The famous convergence of blockchain and gaming has run into some hurdles that have left us wondering if the new sector of cryptocurrencies and gaming can live up to its potential.
In the fifth episode of hashing In the podcast, Cointelegraph’s Elisha Owus Akyaw and Animoka Brands CEO Robbie Yun discuss how the blockchain gaming industry is moving forward despite challenges.
Robby Yung believes there is a problem on both sides. Regarding blockchain developers, Yung argues that the industry has failed to educate the public about the benefits of blockchain technology. According to Yung, people need to understand that owning their digital assets is a breakthrough technology.
On the contrary, Yung emphasizes that the gaming industry has a conservative streak and gamers are reluctant to change. Yung recalled Backlash Mobile He Gamers and free-to-play games experienced as a classic example of a conservative culture among gamers.
Yung recalled that mobile gamers were hated by the personal computer (PC) and console gaming communities. He also noted the backlash that free-to-play games have received for introducing the concept of free-to-play and paying for in-game items. Yung believes the value of blockchain technology will eventually convince traditional gamers.
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Some analysts argue that blockchain games are not fun and that financial rewards alone may not be enough to attract adoption. The CEO of Animoca Brands believes such criticism is unfair to an infant industry that is only three years old. According to Yung, making a decent game takes time. He noted that the majority of games released before Angry Birds were unmemorable, and his gaming industry on mobile could slow down development.
In this episode, Elisha and Jung also discuss:
- How Game Developers Raise Funds
- Tokennomics for blockchain games
- Free game dynamics with tokenized assets.