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Peer-to-peer (P2E) games are one of the most widely played types of metaverse games today. But P2E games are exactly what they sound like—games where players earn cryptocurrencies and/or NFTs—if you’re still not up to speed. P2E games seem like a great idea on paper as they allow players to have fun while earning money. But the question is, how long will these games last?
Three cryptocurrency specialists spoke on a panel at the Wild Digital SEA 2022 technology conference at Kacha Group. The panelists specifically:
* StepVR Founder and CEO Cheng Guo
* Polygon China leader Cora Chen
* U-Zyn Chua, co-founder and CTO of Cake Defy in Singapore
Now, it’s more about earning than playing.
As blockchain technology is still new to society, it’s common to have questions about its stability and sustainability.
In particular, P2E games, which are not without their own controversies, have not shied away from this in games related to the metaverse, as Yu-Z from Cake Defy showed during the discussion. “We see more players playing it for money farming than for fun,” Yu-Zin said. So you play more for money than for fun.
Many of these games are covered by inflation, he continued. The more you play, the more tokens you earn, and the more players you attract. But when blockchain was first launched, it said mining was its main game.
According to Yu-Zin, mining is basically a game where you do something to improve yourself and also improve the ecosystem. Because the mining you do increases the reliability of the blockchain and its strength and security. However, it has yet to find this breakthrough in P2E games. According to him, everyone who plows through a P2E game hurts society and other players by taking something away. He continued, “It’s a race, the bottom kind. Yu-Zin looks for games to find solutions that allow players to work together in a way that benefits everyone in the ecosystem.
Please make more P2E games accessible
The most important thing for a P2E game is that it is actually playable, according to Cheng Guo of StepVR in China. This change only takes place in the Metaverse because now we compete if we make a game [studios like] Blizzard and Activision, which spend billions of dollars each year on a select few games. It takes that much money to make the game.
Cheng thinks it’s unrealistic to expect NFT-related games to compete with games, given the budget gap. Rather, before new gaming methods, like StepVR technology, which the company’s creator likens to technology in Steven Spielberg’s sci-fi movie Ready Player One, can disrupt the gaming industry, the infrastructure needs to be strengthened.
The primary issue with P2E games, such as Cora from Polygon, the scale and infrastructure for Ethereum and the Web3 platform, is that the developers don’t know how to integrate the gaming experience, affordability and sustainability.
As players in the Web2 gaming industry move into it, she says, “Many immediately worry about establishing Tokinomics and don’t think about improving the quality of the game.”
She noticed that Web3 games are short-lived because players think about making money rather than having fun. Yu-Zin agreed and re-emphasized how important the size of the game is. He said developers should think about making the issue more sustainable by thinking of doing something in the game that will actually benefit the players instead of making the economy worse.
Changing the usual games
The panelists have so far focused on gameplay and the quality of the game. However, what exactly is a good game? Even among the panelists, there were some differing views on the subject matter.
Cheng said, “Overcoming the technical challenges of building a metaverse is more challenging than finding a decent game.”
The creator of StepVR thinks that creating a new game is more difficult than creating a Metaverse adaptation of an existing game format. So, his suggestion is to simply “change another way to play” rather than setting yourself up to create a new gameplay.
People appreciate it when they use the game from other video games like Counter-Strike, League of Legends and PUBG. Imagine PUBG players running around in a virtual world. And that’s what happened on our platform.
“Then we have the opportunity to incorporate Tokenomics into it.” Then it can be played. Fun to play.
Cheng said that StepVR confirmed this hypothesis last year, creating a Counter-Strike-like game that was “super easy to make”. The founder claims that the game has hosted more than 700,000 participants in a single game in the StepVR virtual reality platform.
Cora, however, has a slightly different perspective. She thinks having a crypto-native IP is especially important to encourage the use of Metavas.
She mentioned that we’ve talked to cryptocurrency game entrepreneurs who say they want to create a Web3 Counter-Strike or PUBG. But she has some concerns about these initiatives.
Are you sure you can attract more Web2 users to your platform? she asks. “Why did they choose to visit your platform? How many of them want to play the same game or want to play the same game again?”
As an example of a successful crypto-native game, Cora pointed to the popular P2E game Axie Infinity.
A metaverse game in the future
Playability aside, mass adoption is one of the community’s next goals. According to Cheng, infrastructure needs to be prioritized to encourage widespread adoption of the technology.
As Kora, Polygon have worked with well-known companies such as EA, Activision and others, there is no doubt that it will play a role in encouraging the wider adoption of the game in the future.
After the promise of blockchain technology, Yu-Zin said he wants to see more people using it. NFTs “exploit immutability,” he said. “Open execution and an open global stock machine is another part of the blockchain. That point, in my opinion, is currently underutilized.
As a result, according to U-Zin, games that make NFTs and include them outside the game, as well as games that use an open global stock machine that players trust, are the future of GameFi (decentralized gaming and finance).
By simply using NFT for GameFi and Metaverse, he says, “we’re missing a significant part of the benefits of blockchain.” Although these panelists are not entirely optimistic about the current state of P2E games, especially in terms of gameplay, they still seem to have faith in the industry as a whole.
It’s not just about “play to play,” but rather “play to earn,” said Myrtle Ann, who moderated the panel and is the founder and CEO of PlusWar and the founder and CEO of BlockTides.
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