on the crypto
Play to Earn (P2E) is one of the most important features of today's blockchain games. Although not yet known to the public, they have already received the attention of several actors, including video game publishing studios.
In fact, many video game development studios have expressed interest and willingness to enter the cryptocurrency industry by creating blockchain-based games.
However, while such claims were once made, the reality is that most major video game studios are downsizing this strategy. This represents a real boon to the still nascent industry of P2E blockchain game developers native to the cryptocurrency community.
Implementation of Play to Earn Mechanisms in Video Games: More Disadvantages Than Advantages
A report published by Bloomberg indicates that many video game publishers are frowning upon the speculative and lucrative element of NFTs and cryptocurrencies in games. There are several reasons why most of the big development studios are choosing to stay away from Play to Earn and cryptocurrencies.
First, the implementation of an NFT function within a game can lead to inequalities between players. An inequality that, in the long run, will cause a division in the gaming community, as it separates those who can afford high-priced NFTs from those who cannot.
This argument was put forward by Minecraft developer Mojang Studio, but is also shared by many other mainstream game developers. For Mark Venturelli, developer of the hit game Relic Hunters, using NFT in a game can be detrimental to players' enjoyment. According to the author, NFTs can potentially turn what was supposed to be a simple source of entertainment into a crude money-making tool.
Also, for many gaming industry operators, there are still no significant use cases for cryptocurrencies or NFTs that can add real value to games.
Several research conducted in recent months have established that the video game industry as a whole doesn't particularly appreciate the Play to Earn system or the GameFi mechanism at this time.
According to a survey conducted in August by software consultancy Perforce, nearly 49% of the 300 developers surveyed believe NFTs have little or no impact on games.
Loss of interest from big publishers for the concept of blockchain-based Play to Earn games
Following the results of these various analyzes, it is not surprising that today the major studios have decided to put their previous cryptocurrency projects on hold.
Take-Two Interactive's example is a perfect representation of the ambivalence that currently prevails in the video game industry. In fact, the studio responsible for the popular open-world game GTA acquired mobile game developer Zynga for $ 11 billion last January. In announcing the acquisition of the studio, the publisher also said that Zynga's blockchain ambitions played a role in his decision.
However, while Zynga announced in February its intention to launch its first blockchain-related game later in the year, there has been no news from either Zynga or Take-Two Interactive since.
Similarly, Square Enix announced the launch of a Final Fantasy-themed NFT collection in July 2022. This announcement came just months after Square Enix made statements about its aggressive research, development and development efforts. investments in blockchain games.
How is the reluctance of big game studios good for the cryptocurrency industry?
For many experts, the current situation between the video game industry and the cryptocurrency industry can only be positive for the cryptocurrency world. Indeed, the withdrawal of most major developers could allow native cryptocurrency studios to develop their titles more organically.
They will be able to produce content much more in line with the spirit of cryptocurrency, as they will not be subjected to external pressure from multinationals. Only in this period will innovative projects have the opportunity to develop in peace.
