NFT's And The Severe Backlash From Gamers

NFT's And The Severe Backlash From Gamers

Play To Earn Games | 09 May 2023 19:26 UTC

The game industry is excited about NFT's, but the gamer community is not amused.

Polygon’s Ryan Wyatt went candid on NFT's and its future in video gaming. Let's check out his thoughts.

Polygon Studio’s CEO Ryann Wyatt shared his candid insights on NFT's and their future in the video game industry. Wyatt also talked about the backlash NFT's face from the gamers and discussed the reasons behind it.

The gaming industry is excited about NFT's, but the gamer community is not amused.
The gaming industry is excited about NFT's, but the gamer community is not amused.

Ryann Wyatt was formerly working with YouTube and Polygon Studios roped him in to lead its “media hub”.

The media hub is designed to facilitate, support, and invest in web3 entertainment projects. Wyatt has a rich experience of 14 years in the game industry and closely followed the obsession with NFT's, blockchain, and Gamefi.

He also noticed how talented and skillful developers left the gaming giants like Riot Games and Activision Blizzard to “pursue this ambition of being an entrepreneur and build blockchain games.”

Video: NFT's In Gaming... Are We Doomed?

[embed]
[/embed]

While in an interview, Wyatt shared his thoughts on the recent trendy phenomenon of the NFT in the video game industry and why it is still facing severe backlash from gamers.

According to Wyatt, the people talking about crypto are more crypto natives and have less understanding of gaming. Despite this gap, crypto people are addressing the gaming audience which is causing problems.

Moreover, the backlash owing to the environmental impact of NFTs, scams, and money grab tactics is also rife among gamers. When asked about the backlash, Wyatt regarded the criticism as justifiable.

He reiterated that a lot of blockchain games have put money before fun and entertainment which has made the game no less than boring.

He further added that the recipe for a no-nonsense and acceptable NFT lies in thriving first and third-party markets based on games that have token systems. The importance lies in the utility of NFTs in accordance with what gamers want.

Wyatt added, “By no means should it be stretching across the games industry. People should think about it as just serving a subsection of it.”

The gaming industry is excited about NFT's, but the gamer community is not amused.
The gaming industry is excited about NFT's, but the gamer community is not amused.

In the interview, Wyatt also stressed the dynamics of the Counter-Strike Global Offensive game and how its billion-dollar worth of market thrived on skins and cosmetics.

He carried on with the example and added that what if these CSGO skins also acted as NFTs? “There’s clearly appetite for liquidity.

Those marketplaces validate it,” Wyatt says. The games that benefit the most from NFT's are those “where the point system turns into tokens, the marketplace is free and thriving, and it does not impact in-game dynamics at all.”

Gaming News Of Video Game Consultant;

Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s) , Play to Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.

Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.

If you want to stay up-to-date of Gumi Cryptos Capital, then follow me on Google News.

Tags

web3, blockchain, crypto, Blockchain games, future, NFTs, Gamefi, game industry, gaming news, token, games industry, Activision Blizzard, Riot games, youtube, Polygon Studios
See All
New Social Investing App: Dyor is Simplifying Web3 Investing

New Social Investing App: Dyor is Simplifying Web3 Investing

Dyor is pioneering the development of a decentralized investment application that holds the potential to redefine the Web3 landscape and the DeFi sector, as well as reshape the management of financial resources. While DeFi and Web3 offer promising investment prospects through decentralized, peer-to-peer transactions, they also present challenges for those less familiar with the technology.In contrast to traditional financial systems, which are centralized and provide customer support, DeFi relie...

Read more
It is the Time for Web3 Gaming to Notch It Up

It is the Time for Web3 Gaming to Notch It Up

Web3 gaming is an innovative fusion of blockchain technology and gaming, poised to have a significant impact on the industry. It combines the utility of blockchain within video games, creating a new category called Web3 games. Enthusiasts believe it holds immense potential and could emerge as a major player in the gaming landscape.While Web3 gaming has garnered excitement and investment, challenges are evident. Despite its growth, daily unique active wallets remain low compared to the global gam...

Read more
SAGA’s Multiverse Summit Takes Place Aboard a Yacht, Revealing Web3 Tech to Empower Multiverse

SAGA’s Multiverse Summit Takes Place Aboard a Yacht, Revealing Web3 Tech to Empower Multiverse

At the Multiverse Summit hosted by Saga, a leading Web3 infrastructure protocol, Liao from Saga unveiled several groundbreaking innovations aimed at transforming the gaming and entertainment industries. The summit took place aboard a yacht on the Rhine River during Gamescom 2023 in Cologne, Germany, and showcased Saga's commitment to revolutionizing the gaming landscape.Key highlights from the summit included the introduction of the latest version of the Saga protocol called Pegasus. This versio...

Read more
Crypto Gaming: Earning and Investing in Virtual Economies

Crypto Gaming: Earning and Investing in Virtual Economies

The convergence of cryptocurrency and gaming has given rise to a groundbreaking phenomenon called crypto gaming, where players can earn cryptocurrency while playing games. This article explores the world of crypto gaming, focusing on legitimate opportunities, popular games, methods of earning, and the potential for investment.Legitimate opportunities in crypto gaming provide players with immersive experiences where they can own in-game assets and trade them in open marketplaces, thereby enhancin...

Read more
PlayToEarnGames.com Newsletter 11: NFTs, RPGs & More!

PlayToEarnGames.com Newsletter 11: NFTs, RPGs & More!

This week in the Web3 game industry, significant developments took place as two top game releases, NFL Rivals and Champions Arena, transitioned from beta versions to full live releases on iOS and Android app stores. NFL Rivals, which already boasts a substantial fan base, achieved over 2 million downloads. Additionally, other games like Eternal Dragons, Everseed, and Rogue Nation introduced new updates. Alpha versions of Boss Fighters and Citizen Conflict were also unveiled, offering players pas...

Read more
Play-to-Earn (P2E) Games: Where Gaming and Crypto Converge

Play-to-Earn (P2E) Games: Where Gaming and Crypto Converge

Play-to-Earn (P2E) games are a revolutionary concept within the gaming world that leverage blockchain technology to combine gaming with cryptocurrency. These games offer players the opportunity to not only enjoy immersive gameplay but also earn real value through digital assets. Unlike traditional games, where rewards are confined to the virtual realm, P2E games allow players to translate their in-game achievements into tangible rewards like cryptocurrencies and non-fungible tokens (NFTs), which...

Read more
PlayToEarnGames.com

Welcome to PlayToEarnGames.com, your daily source for the latest NFTs and Cryptocurrency News. Whether it's PlayToEarn, cryptocurrencies, wallets, blockchain technology, trends & analysis, beta releases, or other game industry insights, our team of dedicated writers is here to keep you informed. But that's not all; we know that gaming is at the heart of it all.
In our P2E games section, we provide you with the best game reviews across a variety of top genres, including Play To Earn, Web3, Crypto, NFT, Metaverse, Blockchain, and much more. Our comprehensive game reviews cover everything you need to know, from gameplay instructions and videos to in-game footage and images. We also provide links to social media platforms like Twitter, Discord, and Reddit, whitepapers for deeper insights, and, of course, where you can play the game.
So, take a moment to explore our Play-To-Earn game website, and we sincerely hope you enjoy your visit. Stay tuned for the latest updates from the gaming industry and its up-to-date insights to game developers and their game details. So check our section Video Games, Gaming News, Game Developer, Game Trailers/Game Videos, and our Event Calendar with all the mints, drops and more.