Can Gamefi still unlock the meta verse?

Can Gamefi still unlock the meta verse?

Has Gamefi's Mission to create a uniform meta verse through the collapse of the in-game economies and the Push-Back from Gaming-NFT? According to Ornella Hernandez of Blockwork, the answer is no. Blockchain gaming is still a driving force behind the interoperability of virtual worlds. And the demand for games will remain independent of the economic conditions. In my conversation with Ornella, we help to keep all the market conditions, competing factions and future effects on the meta persons up to date.

ornella is not alone with its positive attitude. Absolut Published a report in which over 2.8 billion games are forecast over the next six years.

But the Gamefi industry has to solve an identity crisis before it can produce a new paradigm. The industry tries to move a shift from the play-to-ear model to a play-and-earn model. Ornella believes that the industry has to go one step further and to change the terminology of "blockchain games and change fun in the chain". It must direct its innovative energy to progress in gaming instead of in-game economies.

She also says that the face of the gaming changes. More and more women show interest because hyper-casual games are becoming increasingly popular. If Gamefi wants to produce a gaming-first culture, it should include these types of games and the general variety of presentation.

What are Play-to-ear games and is Play-and-Earn a real solution?

Play-to-ear games are the first generation of Gamefi. Games like Axie Infinity that reward players with digital assets for success in the game fall into this category. These digital assets can then be bought and sold on a secondary market. In this model, the architect mainly focuses on designing an in-game economy that gives its digital assets a long-term value.

The popularity of this model exploded in 2021 because it prepared the way for a new source of income for gamers. And it was particularly popular with people in developing countries because it offered new social mobility in the middle of a pandeme -related economic weakening.

This new economic incentive, however, became a source of considerable criticism. Many claimed that the popularity of games like Axie Infinity was only supported by their financialization. And if it lost its profitability, the gameplay would stop.

his critics were confirmed to some extent when the native token SLP from Axie Infinity fell from its all-time high from $ 0.0044. At the same time, the weekly user base of 2.7 million users dropped to 368,000. The game also suffered a cross-bridge fishing-hack that led to more than $ 625 million at the time.

Despite the confluence of negative messages, including new insider trade claims, the game is still alive and well -being. In July, the developers published a new version of the game called Origin, and as a result Sales from Nft axies are back on the advance.

This upgrade is part of a step to address critics of Play-to-Earn by an attempt to improves the play-and-earn. In this model, game architects prioritize the gameplay compared to the in-game economy in order to gain engagement regardless of the financial reward. The tokenomics are then designed in such a way that it gives the entire experience a secondary value.

For example, new users can play the game with a free starter package in Origin. Before the upgrade, users had to buy three avatars called Axies to play. Since this update, the number of new monthly accounts has increased from 4,030 in June to 5,387 in July.

Although this increase in new users is a trend reversal, it is still unclear whether the new play-and-ear philosophy can be won over the “earn” nature of the gameplay. Since the developers Axie Infinity originally designed with the financialization component, it is difficult to argue that the upgrade is really "play-and-earn".

Industry needs games that integrate gaming-first philosophy from the start to test this new model. Ornella retains a watchful eye Sternenatlas and Schrapnell as possible examples in your weekly web3 watch report. Star Atlas is a captivating strategy game on space research, territorial conquest and political supremacy. Your virtual world is huge and contains a growing discord community of 220,000 people. And Shrapnel, an ego shooter who tries to record it with Call of Duty and Halo, recently organized two panels on Comic con . They are based on the Avalanche blockchain and integrate the play-and-ear philosophy through the use of narrative game design.

What role will play-and-ears play in meta-verse?

Institutional investors are waiting to see if on-chain games manage to attract gameplay outside the crypto-native ecosystem. If there is signs of a crossover attraction, this opens the industry for a 178-billion dollar gaming industry. But it is even more important that an increase in users will form the basis for a uniform meta -verse.

ornella defines the meta person as an infinitely scaling virtual space with its own digital economy, but basically it is about the gamification of social interaction. However, the industry cannot agree on what this virtual space is and what future it has. So there are various virtual spaces/economies that all compete with the meta -verses.

In a follow -up interview, Ornella explained that interoperability is a solution to this problem. Instead of waiting for the final sequence of a virtual world like The Sandbox or Decentraland, these worlds will find a way to transfer meaning and value across virtual borders.

The blockchain technology theoretically offers the infrastructure for interoperability, but not the incentive. Ornella explains that the gamification of digital social interaction will ultimately advance this significant progress. And the user base acquired by the gaming-first play-and-ear model could offer the social basis for this networked reality.

the metaverse as a gamification of social interaction

One could argue that the web has always been about social connections and will always go. In Web1, individuals had a large part of the connection infrastructure, but not the actual content. In Web2, social interaction with platforms such as Facebook was more centralized. And in Web3, which is also known as Ownership Economy, users have the option of adopting direct ownership of their online identity and expression. But what does this property really offer?

property sets limits. Like house certificates, it offers a kind of score card with which the value can be measured in relation to others. That is why private property has always been a form of gamification.

digital proof of ownership. They are simply a new way to use property for social capital - and vice versa. We see this in the NFT culture. Influencers use their social capital to increase the minimum price of NFTS and people with financial resources buy these NFTs to acquire social capital. NFTs can even be used as loan security.

This gamification of social interaction is a clear and present license plate from Web3. But there is no neutral and decentralized space for digital expression. There must be a space in which ownership of a virtual world in addition to ownership of other virtual worlds can be expressed and used. NFT marketplaces and social media platforms are examples of neutral online areas that appear an appearance, but the user experience is limited. And the platforms are controlled and operated centrally. On the basic level, the meta personum offers a solution by expanding the neutral and mutual space between virtual worlds to become immersive.

and with the increase in virtual worlds and the games it contains also grows the demand for a uniform meta verse. This demand looks as if users would ask for new ways to use their property of digital assets. These could be opportunities to unlock new experiences, to gain access to exclusive networks or to monetize digital creations. This congenital tendency towards social gamification is the reason why a uniform meta verse feels inevitable. And that's why Gamefi is so important to open up this future.

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The contribution can Gamefi still unlock the metaverse? is not a financial advice.