Will GameFi do better without Play-to-earn?
What’s your biggest attraction towards GameFi projects? if we are being honest, play-to-earn will form majority of the answers…probably 100% of the answers. Axie infinity’s success quickly influenced an outpour of decentralized gaming projects with earning opportunity for gamers and investors alike. Binance smart chain’s ‘Cryptoblades’ posted astonishing price gains as users flocked the platform to play the game which rewards them with tradable tokens and Non-Fungible Tokens. Success stories from players littered the crypto space as more people flocked the platform. A ton of other similar platforms would quickly emerge, a new trend was birthed! Lot of users testified to earning more than their annual salary from simply playing ‘games’ on the blockchain.
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Hypes, disappointments and inefficiencies; many of the new and existing blockchain-based games failed to meet up with users’ expectations; financial and technological expectations. Technically, most of these games were far from properly developed. Users would describe them as ‘3D casinos’. You’d expect these shortcomings for projects built on an impatient community of users with high hopes of turning their financial conditions around by simply playing games on blockchain platforms.
“It’s a scam!” says users whose expectations weren’t met by the new game released by developers after just three weeks of development. But technical issues are hardly the main disappointment. Lamentations steam mainly from users’ inability to earn as much as expected from the games. In some cases, users run into losses leading to more intense ‘scam’ allegations. GameFi projects easily suffer huge price loss and endless backlash. Investors, disappointed with the low earning potentials continue to air their views in the sternest way, further confirming the fact that cryptocurrency enthusiasts are in fact more concerned about the earnings, and not the gameplay itself. Well, it’s reasonable.
The direct juxtaposition of gaming and earning in GameFi projects haven’t really worked best as the normal human greed gets the better of these projects. little shortcomings results in heavy price drops and loss of interest. In a space where investors are quick to suspect ‘scams’ (and rightly so); emerging technologies like GameFi faces a huge war between good and Bad…and the ugly.
But, how far has GameFi gone exactly? I’ll say, ‘very far’. Unfortunately, this is hard to realize when players are more focused on earning and will gladly shove aside a good game if it doesn’t offer a good earning opportunity. Passion aside, GameFi platforms has attracted more users in a very short period time than most popular games. EA Sports’ FIFA21 recorded an astonishing 31 million players on both PC and consoles, an additional 6 million players from its previous record. Taking into consideration, the global and resource availability, GameFi platform has outperformed even the most popular football game. Axie infinity has reportedly recorded an excess of a million daily players!
This impressive growth is however, influenced by earning opportunities as human greed comes into play once again. Despite the enormous number of daily users, players on GameFi platform hardly complain about technological shortcomings if the earning is good. To be fair, most people would do the same, why complain when the money is good? A rhetoric with a simple answer.
While most mainstream games don’t have direct earning opportunities, players develop a way to make external earnings by contributing to the games’ growth. Popular ‘Call of duty’ players make tangible income streaming their gameplay of streaming platforms. Game critics and analysts make good incomes as well. In plain words, players flock to these games for the real fun they drive from just playing the game. In contrast, GameFi’s Play-to-earn gets rid of the fun and users care least about the game play and how fun they are…the money will bring the fun, lol.
Will GameFi do better without play-to-earn? Well, YES and NO. Withdrawing earning opportunities from decentralized gaming platforms will allow faster technological growth, however, an opposite effect is expected on adoption as fewer people will play without earning; very few. NO, for short term and Yes, for long term. Taking off earning opportunities will inevitably reduce participation, but on the brighter side, the pressure to deliver in short period will be taken off the shoulders of game developers. Project development will as well move more smoothly as price talks won’t impede development. On the long run, the release of well developed games with really fun and interesting gameplay will drive even more users.
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Hello @joelagbo
My answer to whether GameFi will work better without playing to win, is a resounding NO, and I say that more because of the current context of games running on the blockchain, where users choose to participate as investors and not precisely as players, or well that's my point of vitas, I may be wrong.
Best regards, be well.
That is the main problem of NFT games today, people are entering with the sole objective of taking part of that money as new users or investing in, and not to really have fun, as it should be the case, there will always be players and investors. It is clear that if you do not have a "good game developed" that draws the attention of the end user, it is very likely that everything will end in a "could be and was not". The ROL games, the 3D games, metaverse, the multigame, all this needs a healthy and continuous evolution at the same time as innovation, and a lot, a lot of creativity so that when the player enters the game it gives him the sensation of playing to a game that seems very familiar to you, let's take the example of Pokemon. I would like to know if the best known companies today will have this vision in the near future, EA PLAY, UBISOFT, NINTENDO, CAPCOM, SEGA..etc To be honest there is still a long way ahead
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Facts, there's still a long way ahead. But with the current 'money grab' approach from investors and players, I'm not sure we will get to a good level any time soon.
Same I think, all should be considered when mass adoption comes true, we are still in a range in which we don't know yet where it will be truly move.
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We are in the very, very early stage of Play-to-Earn... You can count GOOD blockchain games in the fingers of ONE hand... Yes, it is a mess in the space, but it's always like that when you are developing something NEW, exploring possibilities, testing, etc...
I was playing games (for free) the whole of my life, but when I tried P2E, earned some crypto, and had FUN, I have never looked back... I think that that will happen with a lot of people when they do the same, but of course, there will be "traditional gaming" also... Playing for FREE, being just a consumer filling money of the game developers... Yes, there is still a lot more money in standard games, but don't forget where that money goes, and where the money goes in blockchain games... ;)
Games like FIFA, CoD, or similar will add some blockchain features eventually, and then, we will see the real bloom of crypto and P2E!
I have picked this post on behalf of the @OurPick project and it will be highlighted in the next post!
It's very easy to have fun when you're earning for almost free, the fun here isn't coming from the game but the money...which is odd and not the way it was designed to be. play-to-earn is in its early stage, but truth be told, it hasn't done so well.