Animoca Brands CEO predicts better blockchain games in 2023

Many people are unsure if the recently formed industry of cryptocurrencies and gaming will ever reach its full potential because the lauded union between blockchain and gaming has run into a number of roadblocks.

Elisha Owusu Akyaw of Cointelegraph and Robby Yung, CEO of Animoca Brands, talk about how the blockchain gaming sector is advancing in spite of obstacles in the sixth episode of the Hashing It Out podcast.

According to Robby Yung, there are problems on both sides. Regarding blockchain developers, Yung contends that the sector has failed to inform the general public of the advantages of the technology. People need to realize that owning their digital property is a revolutionary piece of technology, says Yung.

On the other hand, Yung emphasizes that gamers have been hesitant to adapt due to the conservative nature of the gaming business. Yung recalled the opposition that free-to-play games and mobile players faced as outstanding instances of the conservative attitude within the gaming community.

Yung recalled how mobile gamers were viewed negatively by the PC and console gaming groups, who believed that mobile devices could not deliver a real gaming experience. He also mentioned the opposition that free-to-play games encountered when they first introduced the idea of playing for free and purchasing in-game things. Yung is confident that traditional gamers will eventually be won over by blockchain technology.

Some observers contend that blockchain games are not entertaining and that monetary awards could not be sufficient to encourage adoption. According to the CEO of Animoca Brands, such criticism is unjust for a young, barely three-year-old industry. It takes time to create good games, according to Yung. He made a reference to the mobile gaming market, where the bulk of titles that debuted before Angry Birds are forgettable and where industry growth might be sluggish.

Furthermore in the episode, Elisha and Yung talk about:

  • How to raise money for game creators.
  • Tokenomics for games on the blockchain.
  • the workings of tokenized assets in free-to-play games.

For the whole picture of the gaming industry, listen to episode five of Hashing It Out on the Spotify, Apple Podcasts, Google Podcasts, or TuneIn podcasts page.

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