Gaming Industry and Macroeconomic Trends
Michael Rubinelli, Chief Gaming Officer at WAX, discussed how global macroeconomic trends impact the gaming industry and investment in a recent interview with Cryptonews. He acknowledged that these trends have a significant influence on venture capital. Rubinelli pointed out that there was an initial overreaction to the success of games like Axie Infinity, leading to a rush of investment. However, many projects received funding without proper due diligence, which resulted in failures during the subsequent crypto-winter. Rubinelli noted that venture capitalists have become more risk-averse as a result. Despite this, he believes the gaming industry will adapt and offer promising opportunities for investors as it matures.
The Future of Blockchain Gaming
Rubinelli predicts that blockchain-enabled games will coexist with traditional non-Web3 titles on popular platforms such as Google Play and the App Store. He believes that within the next 3 to 5 years, the majority of newly launched games will incorporate mechanisms for players to sell their digital assets. Game publishers and developers must find a balance between generating revenue and ensuring players don’t feel restricted by in-game purchases. Rubinelli sees the current landscape of blockchain gaming as being at a pivotal crossroads, on the verge of achieving mainstream acceptance. The industry has faced challenges with non-game developers trying to gamify decentralized finance websites, but recent funding has allowed AAA game developers to create authentic gaming experiences.
Competition and Distribution
According to Rubinelli, blockchain games featuring on traditional platforms like Epic Games Store have numerous benefits without drawbacks. Wide adoption relies on effective communication of the gaming experience to both current and potential audiences. For example, WAX’s game Brawlers aims to resonate with all players by offering familiar elements within an enjoyable game. Rubinelli emphasized that they compete not only with other games but also with various entertainment options people have in their daily lives. The team’s goal is to make players feel that their time in the game is a justified choice, which presents its own challenges.
Hot Take: The Maturing Web3 Gaming Industry
The gaming industry is not immune to macroeconomic trends and investment fluctuations. While there may have been an overcorrection in the gaming investment landscape, venture capitalists are becoming more cautious. However, as the industry adapts and refines its investment models, it will continue to offer promising opportunities for investors. Blockchain gaming stands at a pivotal crossroads, poised for mainstream acceptance. The future will see the growth of blockchain-enabled games alongside traditional titles on popular platforms. Game developers must strike a balance between revenue generation and player satisfaction. The release of high-quality games is set to revolutionize the blockchain gaming sphere and counter skepticism surrounding Web3 gaming.
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