Top DAO Panel: Forefront of Blockchain — Game and NFT Recap
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Top DAO hosted our first panel discussion! The topic is about two hotest areas in the blockchain — Blockchain game and NFT, we invited 8 top runners in their respective areas. The guests include KAKA Chan-the official idol of KAKA, Chris Eisberg-the CEO of Straight Fire, Duke Vu-the CEO&founder of ULTI ARENA, Monte Thomas-the director of partnerships of PhoenixDAO, Sibtain Baqri-the ecosystem advisor of Cricket Foundation, Julian Voll-the co-CEO of PRIVI, NFT artist Kevin Abosch, and Geoff-CTO of Virtually Human Studio the company behind ZED RUN. Valuable insights and opinions are shared during the event, here is the full recap of the event!
First Panel — NFT
First question, please introduce yourself and your project?
Kevin Abosch: I’m an artist who uses among other technological methods, blockchain as a medium to make art. I’ve been working with blockchain since 2013. My latest projects 1111 and COMMENT OUT are both on OpenSea. I’m also Creative Director at Animoca Brands, parent company of The Sandbox Game and F1 Delta.
Sibtain Baqri: Hello! I am Sibtain Baqri, co-founder of SmartCricket.com. I have been in the cricket space on the management side for last 20 years. We have created an Eco-System exclusive to Cricket, called Cricket Foundation. We see a lot of potential on the Block Chain platform and an immediate scope for an NFT marketplace exclusively dedicated to Cricket and that’s what we are starting out with. We have already signed more than 50 ecosystem partners, most of whom are either leading players from all over the world or leading management groups of cricket and teams.
Monte Thosmas: I’m Monte Thomas, the Partnership Director of PhoenixDAO (www.phoenixdao.io) and one of the co-founders of the project. I’ve been in the evolving Blockchain space for over 5 years now. By training my breadth of experience covers Engineering, Data Analytics, Business Development, with a Degree in Digital Currency/Blockchain. Talking about my JD with PhoenixDAO, I’m always looking out for Partnerships/Collaboration opportunities that will be mutually beneficial for the project.
An Intro about the project: PhoenixDAO is a community-led project that’s found at the juncture where we are seeing huge growth and maturity of decentralized governance (DAO), decentralized finance (DeFi), and the new digital economy where NFT’s and content ownership will be the norm. PhoenixDAO’s ecosystem is built around some in-house protocols which include — Identity management, authentication, payment, and tokenization protocols. Our aim at the end of the day is to have a community-built project that’s pioneering how collaborations can be the ice breaker into the undiscovered worlds of Blockchain/Crypto. Among other DAO’s, PhoenixDAO, aims to play a key role in becoming a stabilizer of the evolving space through her Products, protocols, and of course the community.
For the sake of this panel and the area of discussion, let me introduce our NFT/Event ticketing platform https://events.phoenixdao.io/
The PhoenixDAO Events Marketplace uses $PHNX tokens to buy and sell event tickets.
- Events can be virtual or on-location.
- Events can be assigned categories we are all familiar with.
- Event tickets are ERC-721 NFT’s, allowing users to transfer, send to others, buy for a family member or friend.
- Event creators have a dashboard for metrics and their sell data.
- The Marketplace is decentralized using powerful and familiar blockchain integrations.
(NB: What you’ll find in the link is the old version that’s live. We’re in the process of carrying out a total revamp/update of the UI/UX as that seems a major problem in the crypto space. The new version is already being tested and hopefully should be live before mid-August).
Christoffel Eisberg:Thanks! Thank Carter for your great work with TopDao! Hi all, I am thrilled to join you in today’s discussion about the future of NFTs. My name is Chris Eisberg and I am the CEO of Straight Fire, www.straightfire.space. Straight Fire creates the first NFT player that adds both utility and provenance to existing and future NFTs. Irrespective of what blockchain your NFT was minted on, you can now view it in one, easy to use NFT Player. It even allows you to share NFTs on your favorite social media channels and list it for sale on your preferred marketplaces. After all, NFTs should not just be stored in your digital wallet. They should be shared and enjoyed by the world.
Here is some more info:
We are Straight Fire: https://www.youtube.com/watch?v=r94cXItD7ng
Straight Fire NFT Player: https://straightfirenft.medium.com/nft-player-a80139a82b52
The links provide some more detailed information, thanks.
Julian:Hi TopDao community! I am Julian, one of the co-founders of Privi (https://twitter.com/priviprotocol) Our global team of over 70 has been working very hard (thank you, team, without you this would not be possible!
over the last years to provide an alternative to the centralized social systems and giving easy access to web3 tools without needing to be able to write a smart contract.
Our goal is for our users to pursue limitlessness in a new social economy.
The Privi ecosystem is a collection of decentralized apps designed to take the power away from the elite and distribute it to the world.
The Privi dApps on the Privi app store (we call it Privi Zoo) usher in a new era of content consumption and social networking where we watch, listen, read, invest, and interact in a way that benefits creators, communities and individuals, and not the middleman.
Great to join today!
In your perspective, What value has NFT created for our society? And what are people getting from participating in the NFT?
Julian: For me and Privi: Finding an identity in digital space as well as trust and dependability.
Owning NFTs can represent someone's personality, just like it is when you wear branded clothing from Gucci, drive a car from Ferrari or prefer a special drink over another.
With the rise of VR and AR this will become more common and easier to integrate into the ‘real world’
It’s more about what people are NOT getting when NOT engaging, I compare it to not participating in ‘the internet’. Sure that works for some but is highly restricting opportunities. And without moving forward we cannot grow.
Sibtain: Intangible value has always been hard to realize in the form of value. NFTs have created a way for people to monetize their digital assets, and hence their intangible value. In the past, physical assets were always monetized as collectibles, or ‘memorabilia’. However, this was never possible in the digital space. Unique moments were lost … With NFT this is no more the case. They can be monetized and the digital media /art suddenly has value. This is a value realization that was previously unavailable to people who created ‘intangible value’.
Chris: Our North Star or vision is: An ecosystem where NFTs can be created, owned, shared, and enjoyed by everyone. An environment where the value of digital assets, like assets in the physical world, depends on scarcity, utility, provenance, and the human emotional responses they generate. Some of us will want to buy, collect and trade digital assets that increase in value over time, whereas others will simply want to own, use and enjoy them.
We have developed a tagline that summarises exactly what we mean by this: NFTs are emotions you own.
This is again highlighted in how we would describe the Metaverse.
The Metaverse is a continuously changing, decentralized, creator-driven ecosystem, without physical or spacetime limitations, where humanity and technology co-exist in a balanced, symbiotic relationship, enabling humanity to experience the real in the digital.
In other words, besides the potential monetary benefits, we truly believe that digital assets are all about the human emotional responses they evoke. Let’s experience and enjoy NFTs!
Monte: I won’t be quick to say NFT’s have had a direct impact on society now. Yes, they’ve been on the news lately but can’t directly say there’s any direct impact on society so far. At the moment just looks like some quick money grab opportunity for a few enlightened/techie folks. Do they have the prospect of impacting society? The answer is a big yes. From Arts/Music/Fashion/Gaming/Governance/Sports/Education/and Ticketing like what we’re building in our project (PhoenixDAO). They are going to influence almost all areas of our daily lives
Kevin: The implicit promise of blockchain is to redistribute power… I am interested in how something like an NFT can be embedded with intelligence… Both collective and artificial… DAOs…
Sibtain: Embedded with intelligence is a very interesting line of thought
Kevin: I think so, see my https://kevinabosch.com/1111/
Carter: That’s one of your NFT arts, what’s it representing? seems like computer codes.
Kevin: Sacred knowledge surfaced through training on immense amount of data. Part of my HEXADECIMAL TESTIMONY body of work.
Monte: That’s about what I think. I had a conversation with a friend the other day. He didn’t seem to know anything about what I was saying. It’s a major blocker why Blockchain/Cryptocurrencies/NFT’s haven’t had an obvious real-world impact spanning a wider range.
Carter: On the topic of that!
What do you think is the biggest problem of NFT currently? and How do you think we could solve them?
Chris: Many of the current NFT buyers are not interested in the actual content of the NFT, but instead favor a potential increase in price. They do not seem to care that existing NFTs, like cryptos, are just stored and kept hidden as a private key in their digital wallet. After all, to these buyers NFTs and cryptos are interchangeable.
Some buyers, however, purchase NFT for its original content and like to collect and enjoy their digital assets. Unfortunately, neither digital wallets nor marketplaces display NFTs in a way that shows the real potential and collective value. In fact, many digital wallets and marketplaces, like NFTs themselves, are blockchain restricted.
We are now experiencing an NFT market that is still growing, but NFT prices are volatile, new NFTs must be original and stand out from the crowd and most people question the utility of NFTs. NFTs need an upgrade, or we will never see the NFT market reach its full potential.
Sibtain: Fakes are a big problem. People sell what is legally not theirs. This is why we have only curated sellers on our platform. Only genuine sellers and genuine artworks/ genuine media.
Kevin: Abstraction layers and centralized platforms are breach vectors.
Monte: Among many others, Difficult onboarding — No easy way to interact with Blockchain without having some tech exposure which limits the older generations that are interested, UI/UX still an issue, complexity of terms, Identity (Who should I trust?/How do I verify the authenticity of the NFT on sale?
Julian: These days NFTs are still at the experimental beginning. What I see is superficial use, overblown value, and often just empty buzz words. This results in people hyped up fast, which is good. But also in a lot of people burnt, which is bad.
Using new tools for old business models will not persist. Instead, project teams need to harness the full scope and innovate with new logic to give users new and better features that would not have been possible without it.
See for example QR codes have recently made a comeback in times of COVID: Instead of a physical menu, you get to scan a QR code in a restaurant and have it on your phone.
But just giving a PDF document to read and zoom in is not using the possibilities. You could do much more — connect payments, order, hover over items to see pictures, ingredients, and many more.
Similarly, I see NFTs often purely used to show ownership on-chain today, but not allowing for immersive experiences and actual interaction. This is what Privi is solving.
Chris: Well put.
Julian: Thanks — as you said the collective value is overlooked in current solutions.
Chris: Most assets in the physical world depreciate in value, but for some reason, people assume that digital assets only increase in value. To simply enjoy an NFT is seriously undervalued.
Julian: They can. If done right. And when there is continuous value produced.
Kevin: The things we all loved about early blockchain are being complicated in the quest to make money. This is natural, but it comes with a degradation of virtues.
Julian: Time artists like you step up and change this. With the right set of tools and platforms of course.
Monte: I’d like to add that until we have truly decentralized Universal Profile (UPs), the metaverse craze won’t happen. It’s another problem yet to be solved.
Carter: Thanks for the insights! It’s gonna take me some time to digest.
Now, looking to the future, What are some future areas that NFT could explore?
Kevin: The NFT will become a node around which communities can gather and build.
Sibtain: Gamification and DeFi are the next big thing. Allowing NFTs to become fun ( gamification ) in the form of fantasy gaming/ competitive sport, is a big opportunity. The other big opportunity is allowing NFTs to become new way to monetize their digital content. This is going to be a game changer. This is already to done to some extent, but will be a massive opportunity in the months to come.
Chris: Besides our NFT Player, we have an NFT Studio.
In our NFT Studio, we obtain and develop the most original IPs and licenses into never-before-seen NFT collections. Together with our network of creators, we produce the most sought-after and unique NFTs in the Metaverse. We develop new NFT categories and create interactive and immersive experiences. We go beyond the boundaries of today’s NFTs.
The Straight Fire NFT Studio will also serve as an innovation lab for our NFT Player. Through the development of new, ground-breaking NFT collections, we constantly refine and expand the operability and functionality of the NFT Player.
For Straight Fire, it is a natural progression to create a central hub, where we work with the best creatives, push the boundaries of NFTs, and together with leading marketplaces and digital wallet companies build an NFT 2.0 ecosystem, where NFTs can freely be created, owned, shared and enjoyed by everyone.
I think it’s about meaningful experiences, and creating one-on-one relationships.
Julian: Moving the internet from a dominant advertising model to a peer-to-peer driven dominant affiliate model.
Today’s focus is on advertising while ‘the user is the product’ has become not just widely accepted by all social networks and digital applications but also very profitable for the platforms — they make money, the creator little, the user ZERO.
But (luckily) public opinion has clearly been changing and documentaries like The Social Dilemma (https://www.netflix.com/title/81254224) have shown that.
NFTs are a key tool to build a web3 alternative to that outdated centralized model — with the user, creator, and their network at the heart of it.
PRIVI for example features a range of those tools.
Privi pods as an advertising channel: Everyone can create an effective affiliate distribution model through reusing their own brand or network and connections in combination with a vault
Social tokens can act as a booster to first distribute, create awareness and extra rewards to later providing a transparent measure to quantify interaction and redistribute value.
Data control must be fully transparent and decided by the user. The majority of rewards must go back to the user and not the platform — unlike in the predominant big tech model that GAFAM is using where only the platform and the advertisers benefit.
Every user benefits — middlemen however will be cut out.
Monte: I think among the areas with real potentials includes the Gaming industry, Education, and def the product distribution chain of all kinds of products. Quoted: What I learned from @Gauthier_Z of @nonfungibles #EthCC4 talk of NFT market share: collectible 66%, art 14%, sports 7%, metaverse 7%, game 5%, utility 1%. My thoughts: imagine what happens once Apple Glass becomes a thing.
What do you think are some unique advantages of your project?
Sibtain: We are focused on Cricket. The second-largest sport after Football/Soccer. And we are the first project focussed on cricket. This is a multi-billion dollar industry waiting to be disrupted.
Also, NFTs are just the beginning of the crypto movement in space. Cricket Foundation will gradually get into every aspect of the business — ticketing, fan tokens, esports, gaming, merchandising, etc …. The possibilities are endless.
You can check us out on cricket.foundation
Chris: We are the first to develop an NFT Player.
We add utility and provenance to existing NFTs that currently have limited utility and hardly any provenance.
You can now truly share the potential of an NFT, show your full NFT collection, personalize how you show them to your friends and potential buyers, share on your favorite social media channels. And all this, without the limitations that existing NFTs, marketplaces, and digital wallets have. In other words, through the NFT Player, you can now really enjoy your NFTs and we help you optimize the value of your NFT collections.
We are lifting the barriers that many non-crypto people see for buying NFTs. And therefore, we help grow the NFT market.
For more detailed information about our releases: https://straightfirenft.medium.com/nft-player-a80139a82b52
Kevin: As an artist I can’t be corrupted by corporate interests
Carter: Classic artist
Julian: and you should not, but create your own channel and network
Julian: Building products that solve actual problems with interaction and incentive structures in current industries beyond the niche of just DeFi for financial sake. There is much more to innovate than getting one coin when locking another.
Not being confined only to financial (DeFi today) or digital ownership (NFTs today) but pushing the boundaries to new ways of interaction.
With Privi we have built a web3 gateway and dApp marketplace that lets anyone experience the benefits of these tools, without much knowledge.
We will be launching Privi Trax in the next week and have a launchpad for the token:
The first half of August! Do not miss
A decentralized and gamified music dApp that allows for creators AND users to benefit from the network.
We will be airdropping tokens to select users of other gamified dapps (Hint: Axie might be one of them) — follow our channels (https://t.me/protocolprivi) to sign up on the waitlist (https://priviprotocol.io/) and be the first one to know and get some extra benefits!
Monte: PhoenixDAO Identity Protocol built on ERC-1484 is a key component in our Events/NFT Ticketing dApp which allows much more than some of the trad events management platforms. We’re aiming to disrupt the Multi-Billion $$ Events niche with this product.
Check this article for more info: https://cryptodaily.co.uk/2021/03/PhoenixDA-events-dApp-launch
Second Panel — Game:
Can you introduce yourself and your project?
Duke Vu: Hello everyone! I’m CEO & Founder of Ulti Arena — an NFT marketplace for Game Assets with Proof-of-Gaming. My first entrepreneurial experience was with MyBaze.com — an online marketplace for up-and-coming brands, we generated over $100k in monthly turnover and also managed to raise $1.5 mln from a VC Fund (you can read it here: https://mci.pl/en/mci-invests-in-mybaze-com-an-online-platform-integrating-sellers-and-buyers-in-the-design-industry) . I then founded 2 other companies. One was sold, Risen a Software Development company of 40 people with Python/React to Netguru. The other was iMeshup — a 3D collaboration tool for Game Studios (a showcase of product here: https://www.youtube.com/watch?v=y-wrvv-F8vg) . I’ve also had my fair share of experience in Corporations (PwC and American Express). I’m also Chief Commercial Officer of Pragmatic Coders — a Blockchain / DeFi development company.
KAKA Chan: Kaka Chan is a series of quality talent idols released by Kaka NFT World. The platform will launch more talented female idols as development continues. We will cover distinguished women in singing, dancing, painting, musical instruments, and various other talents. The name Kaka Chan originates from an endearing term for cute girls in manga culture. As the leading platform for games and anime IPs across the world, KAKA NFT world also put resources into an IP brand of their own, KAKA Chan. Not only does KAKA NFT gather a large number of quality IPs across the world, KAKA is also able to realize the platform’s strong brand incubation abilities as one of the most resourceful platforms with this opportunity.
Geoff: Hello! I’m CTO at Virtually Human, the company behind ZED.RUN. I’m an avid product builder who loves that blockchain is changing the world, one transaction at a time. We have an amazingly diverse team of talented individuals working on ZED and this would not be the case if it was not for blockchain uniting us on this shared passion.
ZED.RUN is one of the biggest projects on polygon, we first launched on polygon almost a year ago, prior to that we were on Ethereum, where we launched almost 3 years ago. ZED is a digital racehorse entertainment platform, where each horse is an NFT with unique attributes, you can race, trade and breed your horses. We have over 120,000 connected wallets, 15,000 race horse owners, 1500 races per day and over 60,000 horses.
We are looking to uncover what the future of entertainment when combined with blockchain can do for humanity. Our recent partnerships with Atari and Stella Artois and our recent Series A raise led by TCG with a16z has shown how everyone is really starting to take notice. https://twitter.com/GeoffWellman
Be sure to check out zed.run ;) or vhslab.com — we are hiring!
What do you think Blockchain technology could bring to the game industry?
Duke: Our vision is to decentralize the making of games. Games are being developed in a centralized way: game studios hire artists, developers, and managers to produce assets, sounds, music, User Interfaces — for each game there are hundreds if not thousands of assets being produced. Why should one asset be used in a game only once by a player? Why shouldn’t they own that asset and transfer it to other games? Artists should also be able to track their creatives to see in what games were used and how they were used by the players. All these challenges can be easily solved by implementing NFT’s to game assets.
We believe that NFT’s will change the world of gaming as we know it. Imagine every game in the future to be made on Blockchain — you can transfer any existing game items from one to another. Assets can be traceable and also unique — artists and developers will have new ways to monetize their creations and see how they’re used
Building games on Blockchain can improve the overall experience:
Game items will be transferable to other games, Unique items will be forever unique and one-of-a-kind as NFT’s, A decentralized way of making games will involve the community more, which will lead to greater sales for a particular game, Game Assets, Music, Sound, User Interfaces can be used in multiple games but they will be traceable — actual reliable statistics can be made.
Geoff: The ability to create true ownership for every asset in a game and then outside. At the moment our users can easily trade on opensea, next they could be able to have a pink slips race where the winner of a head to head race takes home both horses. Or the could lend their racehorse to another user and give them the opportunity to earn from their assets when the owner is sleeping. Then we move onto racetrack ownership, where each racetrack becomes a micro business within their game with their own marketing and events specific to them. The blockchain really opens up so many more opportunities when you have true ownership.
KAKA: Blockchain games are the combination between the game world and the chain world, and NFT is a significant bridge in between. NFT combined with games makes entertainment more abundant and diverse, and is also good for the identification and circulation of game props.
From the technology perspective, the value of NFT depends on its technical properties. For example, decentralization ensures the ownership of the asset. The convenience of the trade on chain has made the NFT assets can be traded anytime and anywhere, and get rid of the traditional and tedious offline procedure. But the actual value of NFT is to open our mind to the meta-verse concept.
The metaverse is not a new concept, but before NFT occured, the metaverse was an insecure world for human beings because the ownership of all data and assets in the metaverse was grabs by few people, and with the blockchain technology, human beings found that the ownership was returned to the users themselves. The transfer of ownership of assets brought by NFT has stimulated human beings’ This is probably the biggest value in my opinion.
In the future, metaverse will be a burst point in the market. With metaverse+game, people can socialize through a more three-dimensional and multi-dimensional virtual world, and understand other people’s taste, quality and personality more intuitively, so they can fully show themselves. Not only is it visually more interesting, it is also more sensory rich. At present, the meta-universe is still in the initial development stage, after the market trials and tribulations, the future must be a big breakthrough direction for NFT.
Do you think Blockchain game could replace traditional game in the near future?
Duke: Absolutely. As shown by Axie Infinity, CryptoKitties, and DeCentraland (MANA Token) — games can be made based on Blockchain and NFT’s — and ordinary people can earn money by just playing them! The biggest impact they will have is by enabling users to truly own unique and rare in-game assets. Users who own extremely rare NFTs may also make a considerable income by selling their assets. Whether we call it a revolution or not, NFTs will change the way gamers interact within games.
Here are some unique advantages also with creating NFT’s in Games:
Non-fungibility: Each NFT is a cryptographically made token that represents something truly unique or non-fungible — it can’t be changed with another NFT. In each NFT, there will be metadata made that is a permanent and unalterable record on a particular blockchain. Similar to a certificate of authenticity — it will be very hard to fake it. Many cryptocurrencies such as BNB’s (Binance Coins) are identical to each other — and therefore they’re not unique.
Rarity: NFT’s as Game Assets, Sound, Music, or User Interfaces will be truly rare as they’ll be made by Game Artists in limited amounts or in single quantities. This feature will make the prices of some assets skyrocket. Example? In 2018, a CryptoKitty named Dragon sold for 600 ETH, which was the equivalent of $170K at the time.
Indivisibility: BNB, ETH, or BTC can be divided into much smaller amounts. NFT’s can’t be — just like a ticket for a football game — you can’t take 1/10 of that ticket. It has to be used, bought, or sold as a whole.
Ownership: Through blockchain technology, now the players can be the true owners of the game assets. Up until now, if you buy something from the game store — it still technically belonged to the Game Studio or Developer that made that game. With NFT”s — now a gamer can truly own a piece of that game — directly from the Game Artist!
Interoperability: Games are now being developed in a central way. With NFT’s — game assets, sounds, music, User Interfaces can be used in multiple games and can also be traced back to the original creator. Decentralized game-making is the future.
Immutability: NFT”s live on the blockchain itself. They can’t be changed or altered. So even if the game shuts down — those assets will live on forever on the chain.
Geoff: I don’t think blockchain games will replace traditional games per se, I think all games will ultimately implement blockchain technology and it will just become the standard way of building a game. In the same way it’s accepted you need a Graphics card for high quality graphics, a high speed internet connection for low latency multiplayer gaming, blockchain will be there for true ownership of the game assets.
Duke: same point, different answers hah
What problems are blockchain game facing currently? And how can we solve them?
Geoff: User experience, adoption and education. Providing an experience that a user can feel familiar with. This will take time. For those of us who grew up when the internet was evolving, it took time, I remember when no one wanted to go near any website with a credit card. Then the magic padlock in the address bar came to save the day. Once users have gained comfort, that will start to happen exponentially, then the blockchain becomes the norm. With ZED we are here to speed that up by taking something that people are familiar with, ‘horse racing’ and then mixing that with blockchain to create something that is relatable yet completely new.
Duke: Blockchain games are still low quality / low budget albeit making a lot of buzz and has great market caps. I imagine this is the problem of implementing blockchain mechanics and mining utilities into those games. Making an engaging, modern game is hard enough. Combining gaming experience with blockchain is even harder. There are so many interactions in the back-end (how to determine who gets what coin, recording every interaction or trade on the chain etc.). So I’d say we’re at the very beginning of the crypto gaming era and not everythign has been figured out. That’s an exciting thing: being at the forefront of innovation and having to actually lead the whole industry into something completely new.
KAKA: Gas fee: the main challenge of the nft market is how to attract new users to join. Especially on Ethereum, the gas fee of some NFTs is so high up to one hundred usdt. NFT infrastructure has been dramatically improved since its outbreak in 2017. The development of Layer 2 or side chains has enhanced the NFT transaction efficiency and reduced the gas fee. This smooths the problem of transactions among users.
Threshold of blockchain: if NFT wants to enter the mainstream trading market, another challenge is to avoid showing too much blockchain and NFT technology to users who don’t know that much about it. Projects like NBA Topshot have exemplified this. Its users can purchase through the Internet-like way and unconsciously experience the blockchain process. Some other projects instead attract users through attac hing more fun to its gaming rules, such as Axie Infinity, Aavegotchi, etc.
Third, Driving force problem: At this point, the integration of NFT or blockchain game is another great economic model “Play to Earn”. Projects encourage more users to play games and make profit.
In addition, there are many challenges that remain to be solved in the NFT field, such as immature pricing mechanisms, low level of programming and consensus loss.
Here is my last question, and it’s about the future: How do you think Blockchain game will evolve in the future?
Geoff: Higher budget, more immersive and way more users. There will the convergence of other technologies that are also being explored like virtual reality or mixed reality and this will all ultimately lead to what everyone is envisaging as the metaverse.
KAKA: Throughout 2021, The hottest track is neither DeFi nor the MEME fanin animal coin, but NFT! Currently, it is hard to evaluate the investment value of NFT works. There are quality NFT will be speculated “sky high”, like few months ago in Christie’s auction house announced that the market hot NFT artwork “every day: the first 5000 days’’ finally sold at $ 69.34 million; there is also a great number of relatively ordinary NFT assets in Opensea, Rarible and other trading platforms can not sold out.
It is not difficult to recognize that the market is splitted. But I am still positive about the NFT development. When the liquidity and financial empowerment of NFT are solved along with the iteration of technology and the increase of market awareness, its investment value and potential will be fully released, so to speak, NFT is the indispensable existence of the future asset digitization path, NFT in theory all assets can be digitized, can effectively solve the problem of assets on the chain, its future development potential and imagination space is Its future development potential and imagination are huge!
Duke: The most interesting things are happening in places where online gaming meets NFT. Of course, CryptoKitties was an NFT-based game, and there had been hundreds of similar ones developed since 2017. But let’s think of something bigger. There is a discussion about the NFT assets that could be transferred between different online games. So let’s say an item that is easy to find in one universe could become a rare weapon in another. It would be a breakthrough resembling the switch to the modern economy. In this scenario, companies that are already researching possibilities of marrying NFT with gaming would become the next big thing. We think that the future of Blockchain games is fantastic — imagine all those AAA games being based on blockchain. I think the future is decentralized and that every big game studio will join the revolution.
Carter: Thanks everyone! I think that’s all of my questions
That’s the end of our recap, after the panel discussions, we also had a quiz game event for the community members, join our telegram now for insightful knowledge, electrifying discussions, and fun games!