Wednesday, April 17, 2024
HomeTechnologyGaming industry to have "blockchain-connected" future, says WAX studio executive

Gaming industry to have “blockchain-connected” future, says WAX studio executive

WAX executive Michael Rubinelli stated that the studio feels firmly that some aspect of play-to-earn or play-and-earn will be present in most games within the next five years.

Blockchain technology is making its mark in the video game business. Gaming industry veterans and executives of nonfungible token (NFT) blockchain WAX think that additional linkages between games and blockchain networks will emerge in the future. In an interview, WAX director of publishing David Kim and WAX Studios head of game studios Michael Rubinelli talk about the connection between NFTs, the metaverse, and blockchain gaming.

According to Kim, despite lower Google search interest in games, the metaverse, and NFTs, interaction with games, the metaverse, and NFTs is not dead. He emphasised that WAX expects a tripling of the number of sales transactions on the WAX blockchain at the start of Q4 2021. He added that he is not sure if the ‘hype’ will return, but we (WAX) believe that, in the long run, interest in and involvement with metaverses and NFTs will rise indefinitely as usefulness grows and security concerns are alleviated.

Rubinelli, on the other hand, equated P2E implementation to the acceptance of free-to-play and microtransactions in gaming when questioned about the future of play-to-earn (P2E) gaming models. With over 20 years of experience in the gaming sector, the gaming executive believes a similar pattern is unfolding. He remarked that WAX is certain that, over the next few years, most games will have some aspect of play-to-earn or play-and-earn. The majority of these will be blockchain-connected but not entirely blockchain-based.

When asked how much the blockchain sector is anticipated to utilise in the next two years, several respondents expressed the same impression as the WAX executives in the 2021 research issued by the blockchain gaming alliance. When discussing the issues that blockchain games face, Rubinelli stated that scalability is still a key worry. He added that right now, the main difficulty is the inability of most blockchains to grow.

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.


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