Kevin Shao, who is the Executive President of the Asia Blockchain Gaming Alliance (ABGA), says GameFi can make the leap from success to mainstream acceptance with several “AAA” blockchain gaming titles.
Addressing Current GameFi Titles
One obstacle to mainstream adoption, according to the Executive President, is that current GameFi titles tend to focus on non-fungible tokens (NFTs) and play-to-earn (P2E) features without paying attention to the “game performance,” and the enjoyment of users.
Usually, in a P2E model, gamers buy NFTs to play the game and win gaming tokens. They can then convert those tokens to Bitcoin (BTC), Ethereum (ETH), fiat currency, or stablecoins.
Future Titles Should Find a “Balance”, Shao Says
He acknowledges that GameFi’s current titles are enjoyable for a lot of people, but if he wants the games to go mainstream, they need to find a “balance” to appeal to different tastes.
As he perceives it, developers could adopt features from the mainstream gaming industry by moving away from the “existing project lineage” and incorporating features that cater to those who want to play “for fun” rather than profit.
As part of a presentation he gave at a conference in Singapore, Shao highlighted a number of GameFi “AAA” titles he believes could fit the bill, such as Illuvium build on ETH blockchain, Phantom Galaxies build on Polygon blockchain, and Big Time on ETH blockchain.
Illuvium is an open-world exploration, NFT creature collection, and auto-battles game. Phantom Galaxies is a Third-person RPG that uses NFTs to customize, while NFTs are used to customize weapons and clothing in Big Time, an RPG monster hunting action game.
It could be a game-changing experience for GameFi if they can build a strong user base before the next bull market, according to Shao, since they have a strong team behind them and an investor bankroll that could allow them to do “something different,” at least “compared to other projects recently.”