Crypto Crash demonstrates confidence not seen in Web3, NFT and Blockchain Gaming

It is impossible not to ignore the huge death going on in the crypto market amid the falling prices of Bitcoin, Ethereum and most other currencies, the closing of the exchange due to volatility in the absence of regulatory bodies to calm the panic, and now new layoffs on similar crypto staples. Coinbase.

While I don’t like to see anyone get a job or make money, this has become a big “we’ve told you” opportunity from the gaming community. For the better part of the year so far, we’ve been criticized on all sides by evangelicals who say web3, blockchain-based games and NFT navigation services are the future of the world. Business.

Now, whoever is working with the big crypto industry is breaking down any real controversy that these dime-a-dozen projects are in a position to significantly boost the class of the industry in some way. If they had not been seen before, even though the market was said to be high and the returns were large, it would have been known that those things could be melted down very quickly, and there would have been a lot of them.

Here are some suggestions on how to make the web3 game available in the last year or so:

  • The “game-to-earn” concept is where gaming businesses are set up to get players to spin to make money with real wealth. The main feature of this is Axie Infinity, but before this current crypto collapse, the economic feudalism of that game had completely collapsed.
  • Then there’s the web3 metaverse, which lands about 200 PR pitches in my inbox every day. This is based on various platforms like Decentraland that make headlines because they are selling millions in real “metaverse” property, and again, these are games with game numbers. apart from the top 300 games on Steam (1,200 are currently on Decentraland as of. I’m writing this), you don’t hear stories like a lot of top sales right now .
  • Then there’s the idea of ​​NFTs teaming up with serious games, something Ubisoft has actually tried, and at least one game that has cut post-launch support, Ghost Recon Breakpoint. Other companies that have previously reported reliance on web3 and NFT such as EA and Square Enix have perhaps followed suit, with each “end of the game” demonstration on Summer Games Fest, the E3 replacement that is going on right now, you won’t hear. Nothing, about crypto, web3, blockchain or NFT.

All of these ideas pose the same big problem:

Web3 games continue this idea that they can create financial, digital or real -world real estate businesses that can be a source of added value to the ideas of traditional games. But what the larger market has shown is too much Established cryptocurrencies, major competitors like Bitcoin and Ethereum and the exchanges that support them, are the wild west and can really change, if not completely collapse. If we can’t trust Bitcoin’s relative stability with these major risks, why should we believe in Axie’s “Smooth Love Potion” or the real estate market in Decentraland. You don’t have to. You don’t have to. And most of the players didn’t.

I can’t imagine a web3 game project in the years to come that will generate so much confidence that it won’t increase in months. And even if players-to-earn and earn money are downgraded, while they’re just getting started, then you’ll be left alone with… games that aren’t as fun as NFT/blockchain gifts- free of the rest. the business. So this will end.

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