ABGA’s Chief Says, “Blockbuster” May Be The Option To Save GameFi

ABGA’s Chief Says, “Blockbuster” May Be The Option To Save GameFi

Blockchain
September 29, 2022 by Diana Ambolis
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Kevin Shao thinks that future blockchain games should strike a “balance” between the tastes of several players to increase the genre’s popularity and move it closer to the mainstream. Kevin Shao, executive president of the Asia Blockchain Gaming Alliance (ABGA), has said that he is resting his chances on a handful of “triple-A” blockchain gaming
ABGA's Chief Says, "Blockbuster" May Be The Option To Save GameFi

Kevin Shao thinks that future blockchain games should strike a “balance” between the tastes of several players to increase the genre’s popularity and move it closer to the mainstream. Kevin Shao, executive president of the Asia Blockchain Gaming Alliance (ABGA), has said that he is resting his chances on a handful of “triple-A” blockchain gaming titles that might help GameFi break into the mainstream and save it from the bear market.

During Asia Crypto Week, Shao gave an interview in which he stated that one of the obstacles preventing widespread adoption of GameFi is the fact that many current GameFi titles prioritize nonfungible tokens (NFTs) and play-to-earn (P2E) features without regard for “game performance” or user enjoyment. Players must frequently acquire an NFT to participate in a P2E model. If they do, they will be eligible to earn gaming tokens, which they can trade for Bitcoin (BTC), Ether (ETH), fiat cash, or stablecoins.

Also read: Top 5 Blockchain Protocols Based On Last 5 Years.

Even while he acknowledges that the current GameFi games are enjoyable for many players, Shao says that if GameFi wants to increase its popularity, future releases must strike a “balance” that satisfies the interests of various customers. In his opinion, if developers stepped away from the “existing project lineage,” they may begin to take lessons from the mainstream game industry and offer features for individuals who play “for fun” rather than for profit.

Shao listed Illuvium, Phantom Galaxies, and Big Time as examples of “triple-A” games at a conference presentation in Singapore. Shao believes that these games may satisfy the criteria. Illuvium is a game of open-world exploration, collecting NFT creatures, and auto-battle. Phantom Galaxies is an online third-person RPG that utilizes nonfungible tokens (NFTs) for mech customization.

Big Time is an RPG monster-hunting action game that uses non-game-playable items for weapon and outfit customization. Shao added that they are supported by “extremely excellent teams” and substantial investment capital. This point might be a game-changer if GameFi can create a significant user base before the next bull market. According to Shao, the most likely timeframe for seeing the result is “maybe this year or next year.”

The Asia Blockchain Gaming Alliance (ABGA) was formally created in Singapore on November 25, 2021. Several organizations within the gaming industry sponsor this non-profit group.