The metaverse, despite all the interest from venture capitalists and the world’s major brands, is struggling to attract users, and token prices have begun to reflect that. Tokens for the three major metaverse protocols (Decentraland’s MANA, Axie Infinity’s AXS, and The Sandbox’s SAND) are all down year to date, and significantly underperforming bitcoin (BTC).
Gamers, themselves, appear to be hostile to GameFi. Gaming giant Ubisoft’s non-fungible token (NFT) efforts fell flat, and an industry survey published during the Game Developers Conference showed that most studios are not interested in embracing crypto or NFTs.
“First, the ability to purchase NFTs or in-game currency effectively creates pay-to-win game mechanics, a quality that most major franchises and successful games avoid,” said Mason Nystrom, Research Analyst at Messari. “The most successful games often share an element of skill, opting to create a competitive multiplayer gaming experience and avoiding a ‘spam the credit card until you win’ option.”
Still, there are those in the industry who say quality gameplay can go hand in hand with GameFi and the metaverse. The question remains whether this view will become mainstream.
(All information was provided by CoinDesk)
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