Friday, July 10, 2020

What the Future Holds for the Blockchain Gaming Industry

Blockchain continues to gain respectable traction but the future of gaming products built on it have not elicited the same response it has garnered on the media: VentureBeat explores this issue in the latest TRON summit.

Gaming is Important for Blockchain

The gaming world has one of the largest communities in the world, and it is no surprise that not less than four gamers are part of the top 15 earners on YouTube rich list. If the games built on blockchain becomes so massively adopted that they are stopped being referred to as ‘blockchain games,’ but simply called ‘games’ instead, then it would be no error if blockchain is termed ‘mainstream’ by then.

There are thousands of games on popular blockchain platforms such as Ethereum and TRON already in 2019, but only few can even boast at least 10 daily users.

Blockchain Games Suck

Games that have caught enough attention have only made waves in the crypto community only rather than in the circle of real gamers. Little wonder the games have been from simple to chance of highly rewarding. Apart from crypto kitties—which is quite a simple concept in its own right compared to modern games—successful blockchain games have been mostly gambling platforms. A twitter user recently brought it into the attention of the media that TronBet was raking in millions of daily users every day and was surprised no one had talked about it, well what did he expect? It’s a gambling platform. Users of the current games built on the blockchain are only going there if there is a good return of their on investment, not because the game is super fun. If you need super fun, all you have to do is whip up a free version of Call of Duty. 

During the recent TRON summit that held in January, Jared Psigoda—CEO of BitGuild, in a joint interview with other CEOs Taehoon Kim of nWay game makers and Dan Chao, maker of Crypto Assault—said the major reason blockchain games are not popular is because they are simply not good.

”Our biggest problem right now, to be frank, is that most of the blockchain games that are being made suck. 2018 wasn’t too great of a year for blockchain games. It’s going to require time,” he said.

What the Future Holds

The three CEOs agree the blockchain gaming industry is still in its nascent stage, and following the recent involvement of Ubisoft in blockchain games, more powerhouses are bound to follow soon. However, Psigoda believes that if big players such as EA and Activision do not sweep in soon to buy blockchain gaming startups, the startups might soon get big enough in the next half a decade to buy them instead.

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