According to many who are actively involved in blockchain gaming, the promise of player-owned assets and circular token economies is thought to be the logical evolution of entertainment and will alter how people perceive gaming, as reported by Cryptoslate.
Anthony Yoon, the general partner at ROK Capital, is one of them. Yoon stated in an interview with CryptoSlate that he thinks blockchain is where games will go in the future, which is why his fund has sponsored a number of blockchain gaming businesses looking to enter the Korean gaming market. The fund has supported Ignite Tournaments, a mobile play-to-earn esports organiser that also functions as a streaming platform with payments in cryptocurrencies and NFTs. The ROK GameFi portfolio also includes Nine Chronicles, a fully decentralised RPG, and CyBall, a P2E blockchain game with a football theme, Cryptoslate noted.
Cryptoslate noted that the attempt of GameFi projects to compete with well-established games from larger studios is one of their most challenging obstacles. Yoon claimed that more new GameFi projects are trying to compete with AAA titles like Ubisoft or EA, practically all of which are doomed to failure.
Instead of seeking for GameFi projects to take on well-funded games, ROK Capital wants to attract established gaming studios to the blockchain industry. Blockchain gaming interests a lot of “crypto inquisitive studios,” according to Yoon.
Yoon’s home country of South Korea is the fourth-largest gaming market in the world, so even a tiny rise in GameFi usage may expand the fledgling sector to millions of consumers. For game designers, the nation is a Mecca, and the majority of them could simply shift to blockchain gaming.
Yoon thinks it will be another year before we see the full potential of the blockchain gaming sector. According to him, the industry won’t fully realise its potential and demonstrate that it is here to stay until more GameFi projects release their alphas and more AAA studios enter the market.
(With insights from Cryptoslate)
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