Crypto Raiders drop knowledge with NFT Steez
Blockchain gaming and the play-to-earn model were at their peak in 2021, but over time the model declined as a few kinks were revealed and the broader non-fungible token (NFT) and crypto market hit some speed bumps. It’s safe to say that the sector is “down, but not out,” and it’s entirely possible that blockchain gaming could see another 2021-style surge as the market regains momentum.
On Friday, NFT Steez, a bi-weekly Twitter Space host by Alyssa Exposito and Ray Salmond, the founders of Crypto Raiders met to discuss the state of blockchain gaming, and the future of gaming-for-profit projects. According to the founders, Crypto Raiders is an NFT-based dungeon crawler, and in the episode, each of them agreed that the current blockchain gaming landscape should focus on sustainability and “fun” first.
Can the play-and-earn model work in Web3 games?
During the interview, founder Nick Kreupner spoke about the use of “hybrid models” for play-and-earn games, and Kreupner stated that the current sentiment is more so, due to the nature of people who are “short-term reactive” and quick to believe that they should be dismissed.
However, Kreupner acknowledges that while there is a natural tendency to assume the worst, in reality, ” [P2E] the model needs adjustments and several trials before it actually works.”
In fact, the team at Crypto Raiders has been looking for and sorting out the possibilities of hybrid models and how it can work as an interplay between on- and off-blockchain gaming.
Kreupner said it is important to highlight:
“Where do [player] the income comes from?”
This sentiment stems from the current landscape of play-and-earn models that typically derive their revenue from new players, which is why it is often seen or portrayed as a ponzi scheme.
According to Kreupner, a hybrid model will appear as both pay-to-play (P2P) and free-to-play (F2P). In this hybrid model, new players could easily enjoy the game for free, but they would need resources, or in this case, in-game assets farmed by the P2P players to progress.
Related: Crypto Raiders Explains How Blockchain Games Attract New Users to Web3
Fun rather than “funding” is the path to mass adoption
When asked about concerns about monetizing fun and games, Crypto Raiders realized that both traditional and Web3 players are concerned that monetizing game mechanics could harm their hobby.
As a solution, Crypto Raiders prefers “play-to-own” instead of “play-to-earn” as a way to drive home the value that players get with provenance compared to AAA games. Although many players have expressed a desire to have more ownership and autonomy when it comes to games, Kreupner states that it is not surprising that players think negatively about Web3 players.
“Gamers are really pushing back against microtransactions,” so when it comes to NFT gaming, the backlash is expected, but interestingly, many gamers would love the opportunity to be in the gaming sector “while making money from it,” says Kreupner.
While traditional gamers seem to have an aversion to Web3 games, David Titarenco emphasized the importance of game accessibility when it comes to adoption. When it comes to onboarding and the success of a Web3 game, Titarenco framed the ideation process as:
“Get your Midwestern grandmother to play it.”
Set and listen to the full episode of NFT Steez!
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