NFT games have edge over money in, no money out games: Polygon’s Urvit Goel

Urvit Goel, Polygon’s vice president of global business development for games, believes that games that integrate non-fungible tokens (NFTs) will have a natural advantage over traditional games, where users cannot sell in-game items. I’m here.

Goel spoke candidly with Cointelegraph in Seoul last week about Polygon (MATIC)’s efforts to popularize NFT games and why Korean game publishers like Neowiz and Nexon are jumping headlong into the space. rice field.

One of Goel’s main arguments is that the traditional business model that NFT games compete against may be inherently weak. In traditional games, users typically purchase in-game items with real money, but cannot sell those items to get back the value of their dollars.

However, most games in the Gaming Finance (GameFi) space allow users to purchase items as non-fungible tokens and sell them when the game is finished playing. Goel called the traditional model “money in, no money out,” emphasizing that gamers should be able to get at least some of the value of the dollars they put into the game back.

We just want users to own the content they buy. And if they choose to sell it, if they choose to keep it, that’s great. […] But even if you get a penny back, it’s better than nothing, right?”

Goel said he saw clear signs that traditional game publishers were gearing up for a big push to GameFi, starting with South Korean gaming giant Nexon, which owns the MapleStory title. In June, he announced that a version of his flagship title would be on-chain. Maplestory N according to Go to game news media mmorpg.

Polygon has also partnered with Korea’s Neowiz to chain new and existing titles.

He noted that the entry of such big players is creating a “little domino effect” on the industry to “show that they are still innovative.” Bosses from large companies entering the field hinted that they must have great confidence in the technology.

These developers dont need to rely on blockchain to run a successful business. They are already making hundreds of millions, if not billions, of dollars in revenue from traditional web teaming. increase.”

Goels thoughts on games and blockchain align with ROK Capitals Anthony Yoon, who told Cointelegraph that Gamepay and cryptocurrencies are a natural fit for publishers.

Related: Game Developer Explains Why Blockchain Should Be ‘Invisible’ In P2E Games: KBW 2022

Part of Goel’s confidence in the bright future of NFT games and GameFi comes from buzz within the community. He said he had no hard data to back up his opinion, but said many people within his large community of “millions of followers” were excited about the new gaming products coming to the channel. he believes

To me, the data speaks far better than an article written by a journalist about why ‘X’ NFTs are better.