Interview: “Making money with NFT games will be an exception in the future,” says Joyride CEO.

NFT games are not exempt from the “crypto winter” that keeps the prices of the major cryptocurrencies on the market stagnant. The number of users and values ​​moved in the games to be won fell in May, but this is the industry category that best withstands the effects of the bear market.

While players are waiting for better times to return, developers are working hard to create the most engaging games that justify players ’time, effort, and most importantly, their money.

On the other hand, outside studios are trying to find ways to get into that space before it’s too late.

The company Joyride, founded by American businessman Omar Siddiqui, is trying to solve this problem by providing developers with the necessary framework to create blockchain games.

Prior to founding Joyride in 2017, Siddiqui was vice president and CEO of Walt Disney and Kiwi was the CEO of the Android gaming company. He also currently teaches product design classes at Stanford.

He talked to Siddiqui Bitcoin portal About the current state of the NFT gaming industry and how it sees the future of this promising market. Read the interview below:

You created Joyride to help companies build blockchain-based games, but do you also produce your own projects?

We saw that we also needed to use it to develop a strong platform, so we have an internal studio and studio partners that are using the web3 game development, release and scaling platform and its features.

In addition, the experience of creating major mobile games and growing these businesses makes us more than capable of developing our own games and serving other developers.

NFT games still have a long way to go. How long do you think people will be exposed to this technology? What is stopping this outreach today?

I think NFT-based games will be ready to take on massively in the next 1-2 years.

There is still a huge gap in user education about cryptocurrencies and NFTs. It should be easier to integrate casual players into this space without having to understand what a lock chain is.

Finally, high-quality consumer experiences should also occur to attract players as a successor to the first raw experiments. But you can see it in some markets, such as the Philippines and Vietnam, where more than eight million players a month are participating in NFT games, despite the potential of these projects, despite the difficulties in accessing them today.

Do you think that big gaming companies see Web3 and the idea of ​​decentralization as a threat because it could reduce their control over gaming and profits?

Big gaming companies certainly see Web3 and the idea of ​​decentralization as a big disruption to their business. For a traditional company, it is very difficult to imagine and accept the loss of control over a community. It requires rethinking how games are built, how communities are managed, and how sustainable long-term income and the player economy are created.

Companies that succeed in developing successful games in this new paradigm have the real potential to create massive intellectual property, driven by passionate community members who are active contributors and active owners.

Web3 will allow games — already the largest vertical media — to transcend interactive media and connect with viewers as it was in the past for movies or books.

One of the major challenges in building NFT-based games is the inefficiency of current networks. What are the current alternatives? Is there a way to give users speed and cheap transactions without sacrificing security??

There are a number of emerging technologies to address this issue, from new Level 1 networks such as Flow and Solana that address these inefficiencies to Level 2 solutions such as Polygon. Ultimately, our focus is on creating great apps for everyday consumers.

This average consumer does not care where the data is stored in an unalterable, secure and accessible way. For this average consumer, we focused on becoming a blockchain agnostic by developing a Joyride Wallet that integrates with our partner games. With Joyride Wallet, consumers can easily withdraw their assets to Ethereum, Flow, and soon other networks like Solana without any problems.

The fact is that we don’t want consumers to have to choose where they want to take their assets if they want to transfer them outside of our gaming partners. Meanwhile, in their games, developers can choose which network to use to manage transactions. This allows us to stay at the forefront of blockchain technology without limiting consumers in any way.

NFT games are still in their infancy and there are few titles that manage to break the cryptographic bubble like Axie Infinity. What is missing from NFT games to make them more attractive to users outside the cryptographic environment? Can more high quality Triple A games help?

The outlook is very positive. As you know, casual mobile gaming generates more than $ 60 billion a year in revenue with 2.7 billion players worldwide. The games in which these players participate are often available for free, have a community around them, and have an average daily time of more than 20 minutes for mobile games.

Right now, all of this commitment and investment in gaming is done in closed economies, in digital assets that are not portable or tradable, and that are subject to the constraints and whims of developers. We’ve already seen the gray market for virtual assets emerge in big games like World of Warcraft.

In the future, the ability to own a digital asset — an NFT — and use it in a game, improve it, invest in it, and at some point sell it to another player will be everyone’s hope. players.players.

The portability of these digital assets means that game developers need to rethink the design of their games and how they are built around those assets. Over the last decade, games will be as significant as the shift from selling for $ 60 to free models.

What NFT gaming project are you looking at?

Well, I’m mostly focused on our projects right now. Tennis Champs for our mobiles created a wonderful community and had a great launch of NFT Genesis which was sold out in 30 seconds. We’re building an ecosystem around it with some action and sports games based on these Champs characters.

We also recently launched Solitaire Blitz after six months in beta on the main network. This title is the first game we have released in our esports series for mobile, and we are excited to see how players respond as it grows and see new titles of this genre emerge on the platform we offer our developers.

The current NFT gaming landscape is very different from June 2021. Do you think we’re in a “winter” of NFT games? Is it a normal move to follow the bear market, or is the hype slowing down?

We believe that all new technologies and business models are going through a wave of reception. After all, it’s not surprising to think that players want to be digital assets in games they play for a long time. This secular trend will happen.

We have a long-term vision and will continue to grow as the market evolves through its phases.

In developing countries, such as Brazil, NFT games began to be used as a source of income for some people, but the duration of games in this style was very short. Do you think the gambling profit model can be sustainable in the long run? How?

We prefer to think of the market as “play and take possession” and “play to win”. Playing to win means that the only reason to play is to win, but how many people are “playing” when they are “winning”? This is fast becoming a work in progress, and we want to save and increase the fun as game creators!

Each player can be motivated to own assets, coins and the game. Some skilled players can do a good enough job to really “win”, but that’s probably an exception rather than the rule, as in professional sports.

It’s important to choose the most committed players to become passionate members of the community in the games they like. To do this, we are very early, and regardless of the winter or spring of cryptography, we will see great games with communities that drive success.

Are you worried about this economic incentive for NFT games? What are the implications of joining an NFT game beyond the player’s financial performance?

No game should be just about your return, if so, it will cease to be a game. Yes, there is always a category “min-maxrak”To“ win ”a game to show that they can play financially and“ win ”.

These players will be responsible for their economic profitability and will be motivated to do so, but only if a match is played solely because of their financial capacity. against its entertainment and community value will be successful in the short term.

How do you imagine the NFT gaming market will be in the future, five years from now, for example? Will it be common to have NFT in major games?

Games will have to offer NFTs to community members as a way for players to own the heart, soul and money they are putting into their assets.

Whether the same in-game economy will be centered around NFTs or whether it will be a category of commercial assets within a game will depend on the title and platform. In any case, this model will become an absolute standard.

Leave a Comment