Twitch founder: Why NFTs will change the gaming industry

Time:2022-02-15 Source: 765 views NFT Copy share

Many gamers seem to be very dissatisfied with the game studios that release NFTs, but in fact NFTs are not only a better business model for games, but also have more benefits for players. Here's why I think GameFi will become the mainstream business model for gaming over the next decade:

First, NFTs give studios better access to fundraising, it gives studios access to a new capital market and the ability to raise funds from the masses. For example, I recently invested in SynCity HQ, a new Web 3.0 game, they are building a "mafia metaverse", and the studio raised $3 million in its initial NFT offering.

Second, NFTs are also a better game mode. Web3.0 games are an open economy, and by building games on open and programmable assets (Token + NFT), they will create far more economic value than any game. Imagine if developers could build new game content on top of V-Bucks and skins in Fortnite, and Epic would receive royalties for every transaction in the game. While Fortnite is huge enough today, an open-source Fortnite would be even bigger because it would be a real economic platform.

In addition, the NFT mode is also more suitable for gamers. Allowing gamers to own the assets they buy and earn in-game allows them to truly participate in and benefit from the game's potential growth. What's more, NFTs could allow some players to retain some financial power when switching to new games.

So why are there still many people criticizing the NFT game mode? Here are my answers to some common questions:



1. "This is just the studio's way of making money"

In fact, game studios have long embraced the marketing model of selling in-game items to players, but digital products purchased by players are not currently available for resale. The ownership that NFT brings to players can definitely generate higher economic value for players.



2. "Chain games are not real games"

This reminds me of people's criticism of free-to-play games in 2008, when games like Mafia Wars, FarmVille, and the like were similarly questioned. We need enough time for good developers to create a more perfect gaming experience. In fact, everyone who invests in games knows that there are great teams building in this space right now.



3. "Game NFTs are not truly decentralized because they rely on models and assets in a centralized game client"

Crypto is both a technology and a social movement. Only by putting in-game goods on the blockchain can people believe that they have participation rights and ownership, and are more willing to buy these blockchain-backed game assets. At the same time, the NFT model will also make others more willing to build new content on top of them.

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