From additional game businesses entering the market to the continued relevance of popular concepts, a number of industry experts revealed their predictions for future NFT gaming trends.
Even though gamers pick on traditional gaming companies that try out nonfungible tokens (NFTs), executives in the NFT gaming industry are hopeful that more traditional gaming companies will jump into the space this year.
From major gaming firms entering the market to the usefulness of NFT gaming models such as play-to-earn (P2E) and move-to-earn (M2E), various industry professionals expressed their predictions for NFT gaming in 2023.
Aleksander Larsen, co-founder of Sky Mavis, the creators of the popular P2E game Axie Infinity, said that it is only a matter of time until more major players enter the market. Larsen also believes that big companies will hold off until a game generates billions of dollars in revenue.
In addition to game-focused firms, Larsen noted the participation of tech giants such as Google, noting that Google Cloud also operates a Ronin Network validator. “I’m excited to see big tech giants like Google and Microsoft get even deeper into the blockchain gaming industry,” he added.
When asked about the relevance of P2E in 2023, the Sky Mavis executive acknowledged that the concept is now flawed.
He explained that: “As the pioneers behind the first play-2-earn game, I can say with confidence it does not work in its current state. Games need to be fun first with a solid economy backing, which can enable some players to earn.”
Larsen’s ideas were shared by Zoe Wei, who is the senior business director at BNB Chain. The executive says that more testing and analysis are needed to make the token economies of most games work in the longterm. “The focus was too strong on the earn mechanism and not enough on the enjoyability of games,” Wei said.
In addition to discussing the NFT gaming models, Wei also discussed the topic of traditional game developers coming into the market. Wei believes blockchain technology and NFTs have “undeniable benefits” for game developers and players. “We have already seen countless gaming studios venture into Web3 over the past year, and this is a trend that will continue into 2023,” he added.
Carlos Pereira, a partner at Bitkraft Ventures, a gaming-focused venture capital firm, is similarly optimistic that this year will see a rise in the number of gaming startups.
He explained that: “In 2022 we saw many funding rounds related to spin-off type projects from traditional U.S. and Europe gaming businesses and we expect the trend to continue, with some high-profile public launches in 2023.”
While Asian gaming companies are more public in their crypto push, Pereira noted that western gaming companies are also entering the market, but are “being more cautious with their PR.” However, the executive is confident that the trend will continue.
When questioned regarding P2E, the executive stated that the initial version of the concept should be phased out. “We hope this first implementation of play-to-earn is buried for good,” he said.
Alex Altgausen, the co-founder of the NFT game Banksters, also said community members will have higher standards in 2023. This is another trend that will be happening in NFT gaming. Altgausen says that 2021 and 2022 worked like filters to find NFT games that only want to take advantage of users.
He explained that: “The era of anyone with a cute website and a game promise has ended.”
Before investing in non-fungible token games in 2023, investors will be able to evaluate assets, product development, collaborations, and media footprints.
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