Blockchain-based play-to-earn (P2E) games stole the show in 2021, exploding from a fringe hobby into a major part of the decentralized space. They even helped people in developing economies put food on the table, as these games’ economic models do not shun things like farming in-game currency and items to re-sell to other players, which many non-blockchain massively multiplayer online games (MMOs) frown on, to say the least.
The mainstream gaming industry was taking notes as the P2E rocketship shot for the moon — and its flight has left the industry bitterly splintered. On the one hand, top executives from leading games companies, such as Ubisoft and Square Enix, set their sights on the new market, seeing new business models, new revenue streams, new monetization opportunities — and telling investors that they’re in on what the cool kids are doing can always score a few bonus points.
Related: Play-to-earn games are ushering in the next generation of platforms
On the other hand, though, gamers themselves were less impressed, lashing out against blockchain initiatives even from beloved developers. Developers aren’t rushing to embrace the novel tech, it seems: About 70% of game developers have no appetite for blockchain or crypto, a major recent poll showed. This also means that 30% are interested to various degrees, but the overall sentiment is negative.
Interestningly, the survey included some of the concerns that developers had about developing games on the blockchain. These mostly amounted to all the regular criticisms the crypto community has long grown used to — the environmental impact, scams and monetization concerns. Well, let’s get things straight once again, this time focusing especially on the gaming world.
No, blockchain doesn’t have to set Earth on fire
Blockchain’s environmental impact is the lowest-hanging fruit for a critic to go after but, at this point, this probably has more to do with the perception of the industry than its actual state of affairs. Yes, it is true that…