{"id":507088,"date":"2022-11-06T02:25:42","date_gmt":"2022-11-05T23:25:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/90-of-gamefi-projects-are-ruining-the-industrys-reputation\/"},"modified":"2022-11-06T02:25:42","modified_gmt":"2022-11-05T23:25:42","slug":"90-of-gamefi-projects-are-ruining-the-industrys-reputation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/90-of-gamefi-projects-are-ruining-the-industrys-reputation\/","title":{"rendered":"# 90% of GameFi projects are ruining the industry\u2019s reputation"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d6854bb128\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d6854bb128\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/90-of-gamefi-projects-are-ruining-the-industrys-reputation\/#%E2%80%9D_90_of_GameFi_projects_are_ruining_the_industrys_reputation_%E2%80%9C\" >&#8221; 90% of GameFi projects are ruining the industry\u2019s reputation &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_90_of_GameFi_projects_are_ruining_the_industrys_reputation_%E2%80%9C\"><\/span>&#8221; 90% of GameFi projects are ruining the industry\u2019s reputation &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzhhNjgzOTctOTIwNi00ZGE0LWJlM2ItYzFiMDkyNDczZTUyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Fi industry is set to unleash its massive potential within the next six years. According to Absolute Reports data, its estimated value will grow to $2.8 billion by 2028, with a compound annual growth rate of 20.4% in the same period.<\/p>\n<p>It\u2019s a quieter and perhaps less scandalous branch compared to the more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>worthy centralized finance (CeFi) and decentralized finance (DeFi) spaces, but this hasn\u2019t impacted its force nor its promise. Even in the depth of a bear market, crypto gaming has proven to be the most resilient compared to other market sectors.\u00a0<\/p>\n<p>However, there is a problem with the GameFi industry: The difference in quality between teaser trailers and delivered products is often stark enough to get under the skin of the eager gamers who put their faith in them. As that becomes the case with more and more titles, the entire industry suffers. <\/p>\n<p>The more that customers\u2019 expectations are unmet and dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed, the further mass adoption slips further from our reach. Developers must work on what they can actually build, not overpromise and underdeliver. And, we just don\u2019t see that as often as we should. <\/p>\n<p>This pain point is not insignificant. Gaming doesn\u2019t exist in a bubble, but rather it\u2019s increasingly a convergence point where Web2 and Web3 meet and develop innovative ways to integrate one reality with the other. The likes of Animoca Brands went as far as saying that \u201cthe gaming industry is closer to a metaverse than any other\u201d and \u201cGameFi could become an onboarding point for metaverse and introduce people to digital ownership.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Japan is losing its place as the world&#8217;s gaming capital because of crypto hostility<\/em><\/strong><\/p>\n<p>Well, since GameFi plays such an important role in the advent of Web3, is it too much to ask that it starts protecting its reputation?<\/p>\n<p>The play-to-earn nonfungible token (NFT) game industry is still a relatively nascent one, with no doubt that the future of blockchain-based games holds many exciting AAA titles, but from today\u2019s standpoint, all we see is visually stunning, overdone and inflated teasers that developers just seem to not be able to build. <\/p>\n<p>In theory, it should not be such an uphill battle. At Murasaki of BCG studio, developers have been working on more than 30 mobile game titles, but they always know roughly how long and how much it takes to build each one. It\u2019s not rocket <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">science<\/a>: if something like Genshin Impact costs $200m to produce and took over two years to build, how can you say you\u2019re working on an AAA title with only $4 million or even $50 million and it\u2019s going to be ready within a few months? It\u2019s just unrealistic.<\/p>\n<p>The standard development and release schedule is the same for everyone: publish a white paper with a clear blueprint of the work developers are setting out to do, release a teaser trailer to ramp up the excitement, raise funds by selling NFTs and tokens for development and, finally, start developing. Somehow, for 90% of GameFi projects, something happens between the trailer release and the development phase that causes games to look amateur-ish and disappointing.<\/p>\n<p>I\u2019m not the only one criticizing Pixelmon and its somewhat depressing NFT drop \u2014 one user even <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/news\/pixelmon-fiasco-augurs-trouble-frothy-194022150.html\">tweeted<\/a>, \u201cThanks @Pixelmon, worst mint of my life!! I\u2019m quitting NFTs.\u201d When comparing the project roadmap, which had promised \u201cthe largest and highest quality game the NFT space has ever seen,\u201d to the actual product Pixelmon released, which looked nothing like the slick demo they\u2019d created anticipation with only a few months prior, it\u2019s easy to see why people would be disappointed.<\/p>\n<p>Think of it like this: it\u2019s like selling the ownership of a building by showing a 1\/100 scale mock of the building but omitting how long it\u2019s going to take to build and refusing to say how much money you\u2019re willing to spend along the way. Then, when you finally reveal what you\u2019ve been working on, instead of a skyscraper, it\u2019s a shed. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>GameFi developers could be facing big fines and hard time<\/em><\/strong><\/p>\n<p>But, how long can that continue before users get too disillusioned with the space as a whole and end up quitting it before it\u2019s had a chance to reach its full potential?<\/p>\n<p>It may sound harsh, but the simple truth is that if you can\u2019t deliver what you promised, you should let others do it. 99% of developers have been overpromising and under-delivering consistently \u2014 they\u2019re making the rest of us honest and eager GameFi enthusiasts look bad and risking our industry\u2019s reputation, and for what? <\/p>\n<p>Such projects should get out of the space entirely and give GameFi a chance to redeem itself before users get tired of the charade. The stakes are too high to let them play with the future of GameFi any longer, or the dream of mass adoption will slip further and further from us and never turn into our reality. <\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Shinnosuke \u201cShin\u201d Murata<\/strong> is the founder of blockchain games developer Murasaki. He joined Japanese conglomerate Mitsui &amp; Co.in 2014, doing automotive finance and trading in Malaysia, Venezuela and Bolivia. He left Mitsui to join a second-year startup called Jiraffe as the company\u2019s first sales representative and later joined STVV, a Belgian football club, as its chief operating officer and assisted the club with creating a community token. He founded Murasaki in the Netherlands in 2019.<\/div>\n<\/div>\n<p><em>This article is for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/90-of-gamefi-projects-are-ruining-the-industry-s-reputation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 90% of GameFi projects are ruining the industry\u2019s reputation &#8220; The GameFi industry is set to unleash its massive potential within the next six years. According to Absolute Reports data, its estimated value will grow to $2.8 billion by 2028, with a compound annual growth rate of 20.4% in the same period. It\u2019s a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":507089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzhhNjgzOTctOTIwNi00ZGE0LWJlM2ItYzFiMDkyNDczZTUyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74863,74983,74868,133571,91498,80,10751],"class_list":["post-507088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-cryptocurrencies","tag-decentralization","tag-defi","tag-gamefi","tag-metaverse","tag-games","tag-gaming"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=507088"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/507089"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=507088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=507088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=507088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}