12.2 C
Los Angeles
Friday, March 31, 2023
HomeCryptoGameFi and crypto 'natural...

GameFi and crypto ‘natural fit’ for game publishers: KBW 2022

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 yet to showed any significant effort.

Anthony Yoon, managing partner of blockchain investment and accelerator firm ROK Capital, in an exclusive interview with Cointelegraph, said that GameFi is a natural fit for Korean game publishers. Yoon shed light on the current state of GameFi in the country and how game studios are approaching blockchain integration during the Korean Blockchain Week 2022 (KBW)

Yoon explained that there are two thought processes among Web2 gaming companies looking to shift to web3 and blockchain gaming. Where one camp is looking for ways to derive value for their projects and create their ecosystem on blockchain from scratch, and token integration is the last step, while the other camp they are ready to launch a token first and outsource the technology.

Talking about the popularity of global blockchain projects such as Solana (SOL) and Polygon (Matic)  against the native Korean projects, Yoon explained that their popularity is not just dependent on the amount of capital they bring in but more so on the infrastructure and ecosystem they have to offer. He explained:

“From a feasibility perspective, I think something that these gaming studios also look at – are their users on this chain. Is there an ecosystem on this chain? Is there infrastructure on the chain?”

Yoon also said that while native chains do play a key role in developing the ecosystem, but the major focus of game studios is to build for a global ecosystem.

Related: Web2 adoption key to Metaverse success, Klaytn Foundation — KBW 2022

In another chat, WeMade CEO Henry Chang talked with Cointelegraph about current trends in the GameFi sector, its potential future and WeMade’s new gaming blockchain platform Wemix.

Chang said that even though crypto-integrated blockchain games are banned in Korea, crypto definitely has a utility in the gaming industry. He added that crypto would find a place in most of the games in the coming years. He concluded by saying – for crypto games to be successful, they must have a formidable in-game economy.

Source link

Most Popular


Please enter your comment!
Please enter your name here

More from Author

U.S. troops diagnosed with traumatic brain injuries after attacks in Syria

Six US troops have been diagnosed with traumatic brain injuries (TBI) following Iran-backed attacks in Syria last week that he killed an American contractorthe Pentagon said Thursday.The six diagnoses of TBI bring the number of Americans who sustained injuries in the attack to...

Brandi Glanville Fires Back at Alleged ‘RHUGT’ Incident With Caroline Manzo

Brandi Glanville hits back at so-called 'RHUGT' affair with Caroline Manzo | Entertainment Tonight ...

Will Apple Acquire Disney? An Influential Analyst Thinks So.

Could iMickey happen soon?Laura Martin, a Wall Street a senior investment banker Needhamthey believe that apple can find Disney in a grand combination that may...

Expats to benefit in Spain as Brits could claim paid childcare with new Family Law | World | News

U Spanish The government on Tuesday passed a new Family Law that extends existing benefits to same-sex couples and adds new childcare allowances for everyone.The project, which is estimated to cost 700 million euros per year, will still have to face its final examination in Parliament, but...

Metallica Release Their Best Single Yet With Pummeling Thrash Epic, ‘72 Season’

Earlier this week Metallica was to be laughed at the title of their upcoming eleventh album, 72 seasons, which suggested heavy 'thrash' metal as the main course. Today we present the release of a song that is close to eight minutes long and it is safe...

Doctors Without Borders in Ukraine reports on what Russia left in its wake : NPR

NPR's Adrian Florido talks to Christopher Stokes, who heads MSF's Ukraine operation. A recent report by the organization says that the medical situation in the frontline areas is dire. ...

YouTube’s new metric shows an artist’s reach across all formats, including Shorts

YouTube he announced today that it is expanding its Analytics for Artists tool by adding data related to YouTube Shorts to the "Total Reach" metric, which gives artists and their teams an overview of how well their music is reaching people on YouTube. Prior to this...

Mexican experts say mummy exhibit may pose health risks

Mexican government experts say they are concerned that a traveling exhibit of mummies from the 1800s may pose a risk to public health.MEXICO CITY -- Mexican government experts said Thursday they are concerned that a traveling exhibit of mummies from the 1800s may pose a risk to...

Thanasis Antetokounmpo Ejected For Headbutting Blake Griffin

Thursday night's game between the Milwaukee Bucks and Boston Celtics started with a lot of buzz. After all, the Bucks and Celtics are at the top of the Eastern Conference standings, and the two teams will play a separate game in front of a national audience with...

From ‘Money Heist’ To ‘Murder Mystery 2,’ Actor Enrique Arce Sets His Sights On Hollywood

Spanish player Enrique Arce is on cloud nine. He has been acting around, promoting Murder Mystery 2, The comedy follows Adam Sandler and Jennifer Aniston, who are now full-time detectives, who are also thrown into the investigation of a murder and robbery, in which they are...