{"id":507673,"date":"2022-11-08T00:30:00","date_gmt":"2022-11-07T21:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo\/"},"modified":"2022-11-08T00:30:00","modified_gmt":"2022-11-07T21:30:00","slug":"aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo\/","title":{"rendered":"# AAA gaming companies will look like peanuts as GameFi evolves: Skale CEO"},"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-6a39b84a6e92b\" 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-6a39b84a6e92b\" 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\/aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo\/#%E2%80%9D_AAA_gaming_companies_will_look_like_peanuts_as_GameFi_evolves_Skale_CEO_%E2%80%9C\" >&#8221; AAA gaming companies will look like peanuts as GameFi evolves: Skale CEO &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_AAA_gaming_companies_will_look_like_peanuts_as_GameFi_evolves_Skale_CEO_%E2%80%9C\"><\/span>&#8221; AAA gaming companies will look like peanuts as GameFi evolves: Skale CEO &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNTM3ZGNjZjgtNGE0ZC00Y2NmLWE2YmYtYjJmNzA3MGIwNDE2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Fi&#8217;s constantly evolving model could make &#8220;today&#8217;s AAA game companies look like peanuts&#8221;, said Jack O\u2019Holleran, CEO of Skale \u00a0a multichain Ethereum native network that powers Web3 games. In fact, blockchain-based games and metaverse projects are showing resilience amid a winter that has dragged down many players in the crypto industry, with $1.3 billion\u00a0raised in the last quarter, as reported by D<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>Radar.\u00a0<\/p>\n<p>Finding a sustainable GameFi model, however, remains a challenge. User experience ranks amid the top struggles in the industry, mainly because of gas fees and the complexity of buying, owning and trading NFTs. &#8220;Charging users fees every time they transact or trigger a smart contract creates a disincentive to play,&#8221; noted O&#8217;Holleran, adding that &#8220;in order to appeal to the mass market, there\u2019s a ton of work that needs to be done around usability.&#8221;<\/p>\n<p>Despite usability challenges, Web3 games accounted for nearly half of blockchain activity across 50 networks in the last quarter, according to DappRadar, with 912,000 daily Unique Active Wallets (UAW) interacting with games\u2019 smart contracts in September only. <\/p>\n<p>Most common in-game business models include play-to-earn (P2E) &#8211; which allows players to earn rewards such as tokens and nonfungible tokens (NFTs) &#8211; and play-to-own (P2O), which is a more detailed version of P2E, providing players with proof of ownership of rewards for peer-to-peer trading. A recent analysis from Absolute Reports projects massive growth for the GameFi within the next six years, with P2E games estimated to achieve $2.8 billion between 2022 and 2028, a compound annual growth rate of 20.4%. <\/p>\n<p>&#8220;We&#8217;re witnessing the birth of many different economies with different distribution mechanisms as well as the development of different token models (single token, 2 token, NFT driven, etc.). Only time will tell how suitable and reliable each of these will be over the long term in open global markets,&#8221; Delphi Digital research analyst Sonny Tsiopani told Cointelegraph.<\/p>\n<p><strong><em>Related:\u00a0Decentralized gaming IDs provide another avenue of interoperability in Web3<\/em><\/strong><\/p>\n<p>While crypto gaming companies are coming to dominate the industry, AAA games \u2014 high-budget, high-profile games produced and distributed by large publishers \u2014 aim now to improve usability.<\/p>\n<p>Gunzilla Games, a game studio founded in 2020, combines AAA content with blockchain under the hood, allowing players to access full character and weapon customization through owning them as NFTs within the game. <\/p>\n<p>&#8220;All blockchain-related features will reside in the background, meaning gamers will never need to set up any wallets, swap any tokens, or perform any of the &#8220;usual&#8221; crypto-related tasks.&#8221;, told Cointelegraph Vlad Korolev, co-founder &amp; CEO Gunzilla on how the company is working on gaming experience. He also noted:<\/p>\n<blockquote><p>&#8220;We see GameFi is at a critical crossroads. On one hand, GameFi has the incredibly unique ability to attract the next 1 billion users to the crypto space (given how many gamers there are worldwide). On the other hand, gamification does not cater to traditional gamers and focuses heavily on just the blockchain and the play-to-earn aspect of gaming.&#8221;<\/p><\/blockquote>\n<p>Improving gamers&#8217; experience may also mean a shift from the revenue model for many companies in the space, as free transactions could boost adoption among traditional gamers &#8220;Web3 has been focused on the DeFi, where users can absorb the cost of a transaction directly. That\u2019s in contrast to a game where even at 5 cents per transaction, it\u2019s simply not acceptable as even simple games would be instantly cost prohibitive,&#8221; commented O&#8217;Holleran.\u00a0<\/p>\n<p>The\u00a0market capitalization of blockchain games was around $25 billion at the start of 2022.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/aaa-gaming-companies-will-look-like-peanuts-as-gamefi-evolves-skale-ceo\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; AAA gaming companies will look like peanuts as GameFi evolves: Skale CEO &#8220; GameFi&#8217;s constantly evolving model could make &#8220;today&#8217;s AAA game companies look like peanuts&#8221;, said Jack O\u2019Holleran, CEO of Skale \u00a0a multichain Ethereum native network that powers Web3 games. In fact, blockchain-based games and metaverse projects are showing resilience amid a winter&#8230;<\/p>\n","protected":false},"author":1,"featured_media":507674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNTM3ZGNjZjgtNGE0ZC00Y2NmLWE2YmYtYjJmNzA3MGIwNDE2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,133571,95118,93542,74355,80],"class_list":["post-507673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-gamefi","tag-nft","tag-web3","tag-adoption","tag-games"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507673","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=507673"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507673\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/507674"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=507673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=507673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=507673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}