Home » Traditional firms likely won’t be leading the charge in the next generation of Web3 games — WAX CEO

Traditional firms likely won’t be leading the charge in the next generation of Web3 games — WAX CEO

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According to WAX co-founder and CEO William Quigley, traditional thinking about games, which stems from both the companies developing games and the players themselves, can slow adoption of Web3 games.

Speaking to Cointelegraph at the Web Summit panel in Portugal on November 3, Quigley said, “Trying to build a video game using blockchain is a big deal.” In-game digital assets on the blockchain, although many of our products are based on browsers. His CEO of WAX added: Non-fungible tokenor NFTs, gave independent developers an edge over their games so they could conduct presales to raise the necessary funding.

“Most of the time the people building [blockchain-based games] Today, we’re independent game developers,” said Quigley. “The major triple-A title video game companies haven’t embraced it yet, and perhaps for good reason — they’re not sure what the revenue model will be. I’m not sure how it will change.”

he added:

“In fact, I think the first big games with millions of daily daily users will come from new startup studios. I doubt they’ll come from the traditional video game market.”

WAX co-founder and CEO William Quigley speaking at Web Summit

Also at the Web Summit panel, Gamee co-founder and CEO Bozena Rezab said that pre-sales of NFTs may offer some advantages, but they are not binding with gamers looking for specific products. said that it could “trap” developers by putting them in a relationship. Quigley said many traditional gamers “can’t stand NFTs because of the pollution.”[ing] This is something that could be a drag on companies looking to adopt blockchain-based games.

“The biggest new thing that could allow blockchain-based games to take off is augmented reality, virtual reality,” said Quigley. “When that happens, I think the primary revenue model for AR, VR games will be something like tradable items, NFTs, or whatever we call it. I think it will be a big leap forward.”

Related: Blockchain Gaming and Metaverse Project Raises $1.3 Billion in Q3: DappRadar

As a space of cryptography and blockchain continues to growand there are also many options available for users interested in integrating technology into their favorite games. report The five most-used in-game tokens had a market cap of around $25 billion in February. predicted It is expected to reach over $583 billion by 2030.