GameFi and crypto 'natural fit' for game publishers: KBW 2022
Korean experts believe that crypto would play a major role in the gaming ecosystem, and within the next 3 years, the majority of games might have an in-game crypto economy. South Korea is considered the fourth biggest gaming market and one of the biggest blockchain adopters. However, the country has banned play-to-earn (P2E) blockchain games due to the crypto integration. The new pro-crypto president Yoon Suk-yeol had hinted at lifting the ban, but the government has yet to show any significant effort.Anthony Yoon, managing partner of blockchain investment and accelerator firm ROK Capital,....
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San Francisco-based social and mobile game monetization specialist SuperRewards announced on 31st March that it will allow users to buy in-game virtual currencies from publishers such as A Thinking Ape, East Side Games Studio and Ninja Kiwi using bitcoin. Bitcoin payments made by SuperRewards customers will be processed and converted to fiat currency by fellow San Francisco-based startup Coinbase. SuperRewards will then pay game publishers in US dollars. Speaking to CoinDesk, SuperRewards co-founder Lyal Avery, indicated that adding bitcoin as a payment option lets his company take....
NFT gaming business models could represent an attractive innovation for gaming publishers as they begin to make more of their titles available to play on blockchain. Polygon’s VP of Global Business Development for gaming Urvit Goel believes games that integrate nonfungible tokens (NFTs) have a natural edge on traditional games that don’t allow users to sell their in-game items.Goel spoke candidly with Cointelegraph in Seoul last week about Polygon’s (MATIC) push toward helping NFT games proliferate and why game publishers in South Korea like Neowiz and Nexon are diving headfirst into the....
While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022. GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential.The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely....
Real Realm is coming to be a game-changer in the GameFi universe. Now, players have a platform to enjoy their favorite war strategy game while still enjoying many other benefits that come with it, without necessarily spending funds. Blockchain technology has revolutionized the gaming sector, with GameFi snowballing. NFTs are quickly being adopted, with gamers […]
GameFi isn’t a new concept, in fact, CryptoKitties was the first project to bring this concept to light in 2017. It is known for pioneering the play-to-earn gaming model, which is now the standard basis that all blockchain games follow. The model was a huge hit, bringing the game 1.5 million users and $40 million in transaction volume. The fact that this occurred during the early years of the crypto market was a significant achievement for the game. Since then, the sector has evolved in response to increasing user demands. Today, there are around 1,498 GameFi projects, with numbers rising....