With blockchain slowly finding its way into the video gaming industry, sector veterans and executives of nonfungible token (NFT) blockchain WAX believe that there will be more connections between games and blockchain networks in the future.
In a Cointelegraph interview, WAX head of publishing David Kim and WAX Studios head of game studios Michael Rubinelli shared their insights on NFTs, the metaverse and blockchain gaming.
According to Kim, despite having less search interest on Google, engagement with games, the metaverse and NFTs is not dead. “On the WAX blockchain, we saw a doubling of the number of sales transactions at the start of Q4 2021, and it has remained elevated ever since,” he said.
“I’m not sure if the ‘hype’ will go back up, but we believe that long term, interest in and engagement with metaverses and NFTs will grow ad infinitum as utility increases and security concerns are allayed.”
On the other hand, when asked about the future of play-to-earn (P2E) gaming models, Rubinelli compared P2E implementation to the adoption of free-to-play and microtransactions within gaming. Having more than 20 years in the gaming industry, the gaming executive thinks that a similar pattern is playing out.
“We believe strongly that there will be some element of play-to-earn or play-and-earn in most games within the next few years. Most of these will be blockchain-connected but not fully running on blockchain.”
In a 2021 report published by the blockchain gaming alliance, a survey showed that many respondents share the same sentiment as the WAX executives when asked how much the blockchain industry is likely to leverage blockchain in the next two years.
Source: Blockchain Gaming Alliance 2021 Survey Report
Talking about the challenges that blockchain games face, Rubinelli mentioned that scalability is still a major concern. “Right now, the biggest challenge is the lack of ability for most blockchains to scale,” he said.
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