SHOW ALL

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Game publishers explore alternatives as Play-to-Earn thrives in NFT.NYC

The Play-to-Earn (P2E) business model may not be dead, but a panel at the NFT NYC 2023 said that game producers and developers are looking into other ways to replace it.

Chase Freo, the CEO of the gaming site OP Games, says that companies that called themselves P2E are changing their plans now that the prices of cryptocurrencies are going down. “It’s a model that is not sustainable at all,” he said, giving the example of how Axie Infinity changed some of its most popular games.

Speakers at NFT NYC 2023 discuss the downfall of Play-to-Earn business model

Minoru Yanai from Minto, a Japanese manga and anime design company, stated that game companies are now “looking at play and fun, and sometimes earn or swap,” adding that players can still earn tokens and rewards, but publishers and developers are concentrating more on being sustainable and adaptable.

Paul Flanagan, manager of business development at Estonian mobile game developer CM Games, stated that the fundamental issue with P2E models is that they are “zero-sum”

“As we all know, most of them are Ponzi schemes, so if you are putting branding sponsorship as a source of money that might work, but we still need to see that happening,” he said.

The panelists said that other options are growing in the industry, such as marketplaces and partnerships that let players return tokens to the game environment instead of playing and selling them.

“More companies right now are trying to make sure that the game has a really good core loop that enables these players to put back whatever they earn into the game. That’s very challenging […]. I don’t think Play-to-Earn is ever going to come back, but there will be variations of how it’s going to look like in the future,” stated Freo.

Following years of development, speakers noted that the Web3 gaming industry is releasing more tangible products on the market.

A better regulatory environment, particularly in East Asia, is also allowing Web3 gaming companies to raise more capital and pursue alternative business models and ways to enhance the player experience.

Source:

Content Source: cointelegraph.com

About Tina

Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

SHARE:
Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *