Entrevista WAX Studios/ WAX Studios intervew - Spanish/English

He mantenido una entrevista con el Jefe de Publicaciones de WAX Studios para el periódico Información de la provincia de Alicante en España. David Kim es un veterano en la industria del entretenimiento, donde ha trabajado durante más de dos décadas para grandes marcas como Warner Bros, 20th Century Fox o Sony Pictures Entertainment. Ahora dedica la mayor parte de su tiempo a WAX, abordando los principales problemas de adopción masiva en el espacio de juegos blockchain.

David Kim: «La mayoría de las experiencias digitales inmersivas usarán la tecnología blockchain»

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I had an interview with the Head of Publishing at WAX Studios for the newspaper Información in the province of Alicante in Spain.

David Kim: "Most immersive digital experiences will use blockchain technology"

David Kim is a veteran in the entertainment industry, where he has worked for more than two decades for major brands such as Warner Bros, 20th Century Fox or Sony Pictures Entertainment. He now devotes most of his time to WAX, addressing the main issues of mass adoption in the blockchain gaming space.

In the ongoing winter in the cryptoasset world, play-to-earn games and the NFTs that go with them, it seems that they are not doing so badly. The number of users making contact with the blockchain to play has increased, as has the number of wallets that have been opened to deposit the cryptocurrencies or tokens earned while playing. Of particular note is the decentralised WAX-Worldwide Asset eXchange blockchain, which appeared in 2017 focused on the creation, sale and trading of NFTs. This blockchain has even surpassed Ethereum, making it easier and cheaper to create or obtain a non-fungible NFT/Token.

1.- The number of users playing on the blockchain increased by 2000% compared to last year, according to April data from DappRadar. Wax has been a key part of this increase. What does this blockchain have to offer, both for developers and users, that has sparked so much interest?

WAX attracts gamers because it fosters accessible, enjoyable, and interactive gaming experiences. It builds off what was already established by the Web2 gaming ecosystem,and introduces Web3 services such as WAX Cloud Wallet and NFT and marketplace smart contract standards, which provide an easier-to-use Web2-like experience for players than any other blockchain.

WAX has consistently dominated the Play-to-Earn scene, thanks to titles such as Alien Worlds and Splinterlands, which have been sitting at the top of the DappRadar charts throughout 2021. Already, we have an estimated 400,000 daily users.

It also doesn’t hurt that WAX has no gas fees for transactions, and minting NFTs costs mere pennies, making NFT-based GameFi much more practical and accessible.

WAX also appeals to game developers for multiple reasons. It has more daily users than any other chain and has more than 13 million user accounts. It also offers the highest scalability and transaction capacity of any chain and can process over 20 million transactions per day, which is often more than all other major blockchains combined.

Moreover, WAX is among the most energy-efficient blockchains in the industry, over 125,000 times more so than Ethereum. The network only produces 110 tons of carbon annually, roughly equivalent to 5 average Americans. Moreover, WAX is certified carbon neutral, offsetting over 210 tons of carbon a year. Taken together, these benefits amount to what is by far the most game-friendly blockchain available today.

2.- About metaverse, experts agree the future of Wax looks extremely bright. What do you predict for the future of the metaverse?

We believe that before long, most immersive digital experiences will utilize blockchain technology to empower participants with ownership and control of their digital items and information. The metaverse will likely have some form of gamified structure, regardless of whether you're engaging in entertainment, socializing, or both.

We see a future where entire communities spring up around various ‘metaverses’ and ultimately interact with each other to expand further. This infrastructure will be more comprehensive and rewarding than any digital entertainment that has come before.

3.- Where are play-to-earn games in terms of graphic design when compared to modern video games?

The current offerings for Web3 games lag behind the graphical quality of modern, mainstream industry titles. There are multiple reasons for this. One is that many current games were developed by teams that were familiar with blockchain development but not game development and are more interested in game-fi than gameplay. As a result, the graphics, mechanics, and general gameplay become an afterthought.

Modern video games also take many years to develop, and blockchain gaming has really only been around for a little over 1 year. There are modern video games connected to blockchain which are currently in development which you'll probably start seeing come to market starting towards the end of this year and early next

4.- Is there a difference in minting an NFT in Wax, when the NFT is of a digital artwork or if it is an NFT accompanying a physical artwork such as a sculpture or a painting?

The short answer is no, regardless of whether the NFT is of a purely digital nature, like art, or if it uses our vIRL technology to represent a physical item, minting is basically the same. What changes is the metadata and what that represents and is linked to. Our proprietary vIRL NFTs enable users to separate ownership from possession, allowing both creators and collectors save on shipping and reduce emissions by removing the carbon footprint incurred from trading collectibles in real life. That being said, vIRL NFT holders can still trade or redeem their NFTs at any time.

5.- How important is decentralisation to you? And more specifically, what does decentralisation mean for Web3.0?

It is incredibly important; it’s one of the most beneficial aspects of Web3 gaming. Allowing users to truly own in-game assets and participate in game economies is revolutionary. And now the genie is out of the bottle, it’s going to be difficult for many web3 gaming converts to go back to paying for items they can’t resell or trade. The more decentralized Web3 is, the more choices owners of in-game assets will have in what to do with them.

Decentralization of the blockchain backbone of Web3 also provides security benefits. As we saw with what happened on Ronin, blockchains that are not sufficiently decentralized are easier targets for hacking.

6.- My final question for you is, how was your overall experience working on the Ethereum blockchain, and as per the Wax website, why is it difficult for good projects to gain momentum on the Ethereum?

Overall, Ethereum’s “first-mover” advantage made it an ideal place for early GameFi to proliferate. Hence, selling NFTs such as virtual land and in-game items generally gets the most traction on Ethereum. However, the current issues with throughput and fees limit adoption and overall engagement.

This is why many of the more successful titles have been on fundamentally faster and cheaper chains, like WAX.

Nuria Menargues (GiC Art)