Urvit Goel, Polygon’s vice president of worldwide business development for gaming, thinks that games that use non-fungible tokens (NFTs) have an advantage over traditional games that don’t let players trade their in-game assets.
Goel talked to people in Seoul about how Polygon (MATIC) is trying to spread NFT games and why Neowiz and Nixon are joining the market. Goel also said that traditional business models that are used to compare NFTs may not be as good. In traditional games, people can buy in-game items with real money, but those items have no resale value and can’t be sold to make money back. But in most games in the gaming finance (GameFi) space, players can buy products in the form of non-fungible tokens (NFTs) and then sell them when they are done playing the game. Goel said it was important to call the old method “money in, money out” because players could get at least some of the money they put into the game back.
Goel saw clear signs that traditional game publishers were getting ready to make big moves in the GameFi sector, starting with Nexon, which owns the MapleStory label and is based in South Korea. According to the gaming news site mmorpg, Nexon said in June that they will release a version of their main product called MapleStory N on-chain. Polygon has also teamed up with South Korean company Neowiz to bring both new and old games to the blockchain. Goel says that corporations that want to get into the blockchain space need to know about the space.
Goel’s ideas about gaming and blockchain are the same as those of Anthony Yoon of ROK Capital, who told the magazine that GameFi and cryptocurrency are for publishers. Goel is optimistic about the future of NFT gaming and GameFi in part because of how the community acts.
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