Kevin Shao, executive president of the Asia Blockchain Game Alliance (ABGA), said he is eyeing three “triple-A” blockchain games that could help propel GameFi into the mainstream and save it from a bear market.
Speaking to Cointelegraph during Asia Crypto Week, the CEO told Cointelegraph that one of the barriers to mainstream adoption is that current GameFi titles often focus on non-tethered tokens (NFTs) and game-to-earn (P2E) features, “game performance,” and user enjoyment.
In the P2E model, players typically buy NFT to play the game and can win game tokens that can then be converted into Bitcoin (BTC), Ethereum (ETH), fiat currency or stablecoins.
While he knows that these current GameFi titles are fun for a lot of people, Shao says that future titles will need to find a “balance” to accommodate different user tastes if the original is to take off.
In his opinion, by stepping out of the “existing project line”, developers can start taking cues from the mainstream gaming industry and include features for people who want to play for “fun” rather than for profit.
In a presentation at the conference in Singapore, Shao highlighted three upcoming AAA titles that he believes are shaping up to be the changes the GameFi industry needs – Illuvium, Phantom Galaxies and Big Time.
Illuvium is an open-world exploration, NFT creature-collecting and auto-combat game, Phantom Galaxies is an online third-person RPG using NFTs and mechs, and Big Time is an RPG monster-hunting action game with NFTs used to customize weapons and costumes. .
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Shao says they have a “very good team” behind them and a big bank of investors, which will allow them to do “something different”, at least “compared to other projects recently”, and if they can build it, GameFi will change the game. A strong user base ahead of the next bull market.
According to Shao, we will see the results “maybe this year or next year”.
The Asian Blockchain Game Alliance (ABGA) was launched in Singapore on November 25, 2021 and is a non-profit organization formed by organizations in the gaming industry.