In the past year, blockchain-based gaming has expanded significantly as an innovative alternative to conventional gaming. While the two industries are vastly distinct, some market participants foresee a unified future.
“I was in the early days of mobile gaming, right after the iPhone came out, the App Store came out,” Chris Akhavan, chief gaming officer at NFT marketplace Magic Eden, told TechCrunch. “I remember there was an attitude among traditional gaming companies at the time that mobile games were stupid.”
These gaming groups, according to Akhavan, perceive mobile games as “really small, unimpressive games” that nobody will want to play. “ Frankly, many of the large traditional gaming firms disregarded mobile [games] for the first several years, creating opportunity for new mobile gaming companies such as King, which is now acquired by Activision, to earn a profit and grow significantly.
Akhavan stated that as a result, large gaming companies were hyper-focused on the mobile gaming market and began acquiring smaller games to compete.
“We think the same journey is going to happen in Web3,” Akhavan said. “Over the past year, billions of dollars have been invested in the new Web3 gaming studios and they will lead the way in building the ecosystem and showing the true side of the opportunity, which is about to scale.”
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