NFT Rebranding? Web3 Gaming Community CEO's Candid Take

NFT Rebranding? Web3 Gaming Community CEO's Candid Take

Play-To-Earn Games News, P2E Games News | 08 May 2024 09:05 UTC

NFT rebranding is necessary for mass adoption of Web3 games, Community Gaming CEO Chris Gonsalves shares his thoughts on the matter.

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The adoption of Web3 games has yet to reach a broader audience beyond the cryptocurrency community. Despite the introduction of digital assets like non-fungible tokens (NFTs), these games have faced strong opposition from gamers who perceive them as a ploy to exploit players through small but frequent transactions. To address this, Community Gaming, a Web3 esports platform, has partnered with Game7, a decentralized autonomous organization (DAO) focused on Web3 gaming, to launch the 3XP Gaming Expo. The event aims to promote the benefits of digital assets in gaming and change the negative perception surrounding NFTs.

Community Gaming Partners with Game7 for NFT Web3 Rebranding

In an interview with Decrypt at ETH Denver, Chris Gonsalves, CEO of Community Gaming, acknowledged the negative branding surrounding NFTs. He also suggested that game developers should refer to them as "digital assets," "digital collectibles," or "legendary skins." Gonsalves argued that gamers are accustomed to purchasing skins and other in-game items, so they could embrace digital assets with a more positive outlook.

The 3XP Gaming Expo will take place in Los Angeles on June 8-9, ahead of the Electronic Entertainment Expo (E3) from June 13-16. The event will feature various discussions and exhibits showcasing the potential of digital assets in gaming. Additionally, the expo will provide a platform for game developers to showcase their blockchain-based games and other Web3 gaming products.

Through this collaboration, Community Gaming and Game7 hope to increase awareness and adoption of digital assets and Web3 gaming. As the gaming industry continues to evolve and embrace blockchain technology, events like the 3XP Gaming Expo could serve as catalysts for innovation and growth in this exciting new space.

The Challenge of NFT Mass Adoption in Gaming

According to Gonsalves, the slow uptake of Web3 games is attributable to low-quality experiences offered by some games and the prevalence of scams that have tarnished the industry's reputation. "Let's be real," Gonsalves said. "A lot of these games were not good, and they made promises they could not keep. We also had the profile picture craze, which created confusion. And gamers mistakenly believed that NFTs were only expensive animal art."

To rebuild trust in the industry and encourage more players to embrace blockchain-based gaming experiences, the gaming community must address these challenges. By partnering with the 3XP Gaming Expo, Community Gaming hopes to highlight the potential of digital assets in gaming and showcase some of the promising new Web3 games currently in development.

The Future of Web3 NFT Games

Chris Gonsalves believes that the future of Web3 gaming is bright, thanks in part to the entry of traditional game studio veterans into the space. Major publishers such as Activision Blizzard and Riot Games are creating Web3 games that prioritize gameplay over the hype around blockchain technology and tokenomics.

Gonsalves said that these game developers have the experience and expertise needed to create engaging games that can compete with popular titles like Call of Duty, Hearthstone, and Valorant. Unlike some previous Web3 games, which failed to meet gamers' expectations, these new titles are designed to provide a high-quality experience.

"They know what it takes to build a game," Gonsalves said. "They know how long it takes, and so they're not calling them NFTs and they're not leading with 'rah rah blockchain' and tokenomics."

The Future of Web3 NFT Games

As the gaming industry continues to evolve and explore the possibilities of Web3 technology, events like the 3XP Gaming Expo could prove instrumental in driving innovation and adoption. With the support of influential companies and industry players, Web3 gaming could soon become a mainstream phenomenon.

Chris Gonsalves, CEO of Community Gaming, believes that the future of Web3 gaming is bright, thanks in part to the entry of traditional game studio veterans into the space. According to Gonsalves, major publishers such as Activision Blizzard and Riot Games are creating Web3 games. These top gaming companies prioritize gameplay over the hype around blockchain technology and tokenomics.

Gonsalves said that these game developers have the experience and expertise needed to create engaging games that can compete with popular titles like Call of Duty, Hearthstone, and Valorant. Unlike some previous Web3 games, which failed to meet gamers' expectations, these new titles are designed to provide a high-quality experience.

NFT Rebranding Web3 Gaming Community CEO Candid Take (1)
NFT Rebranding Web3 Gaming Community CEO Candid Take

"They know what it takes to build a game," Gonsalves said. "They know how long it takes, and so they're not calling them NFTs and they're not leading with 'rah rah blockchain' and tokenomics."

As the Web3 gaming industry continues to grow and mature, the entry of established game studios could help to bridge the gap between traditional gaming and blockchain-based gaming experiences. With a focus on fun and engaging gameplay, Web3 games could soon become a mainstream phenomenon embraced by gamers worldwide.

Conclusion

Web3 gaming has been facing challenges, including criticism from gamers, scams, and poor gameplay. Non-fungible tokens (NFTs) have received a lot of backlash and negativity. As a result, there have been calls for NFT rebranding to change the negative perception of digital assets in gaming.

Chris Gonsalves, CEO of Community Gaming, suggests that referring to NFTs as "digital assets," "digital collectibles," or "legendary skins" could help to change gamers' perception of them. He believes that the future of Web3 gaming is bright, thanks in part to traditional game studio veterans entering the space. Major publishers such as Activision Blizzard and Riot Games are creating Web3 games, and they prioritize gameplay over the hype around blockchain technology and tokenomics.

Web3 gaming could soon become a mainstream phenomenon with the support of influential companies and industry players. Events like the 3XP Gaming Expo, which aims to promote the benefits of digital assets in gaming and change the negative perception surrounding NFTs, could serve as catalysts for innovation and growth in this exciting new space. As the gaming industry continues to evolve and explore the possibilities of Web3 technology, the future looks promising for blockchain-based gaming experiences.

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