What Are Blockchain Gaming Market Trends and Needs

Alexander Skorik is on the GDCy Fest: “We need to find game balance on a larger scale – metaverse”

The major destination for Cyprus GameDev and Web 3.0 experts, the GDCy Fest took place on June 2nd, 2023 at Limassol’s shore. This Cyprus Game Development summit unites developers, founders, investors, and experts who discuss the hottest topics in the industry: 

• Tech in virtual sport: best technologies that power the Gaming Industry.
• Marketing in Games: what’s Working and What’s Not in growing virtual sport bigger.
• Business in Gaming: efficient tools and approaches for business development in GameDev.
• Region-specific topics and sharing best practices from Cyprus.

Alexander Skorik, Bluelight.inc CMO gave a speech on blockchain games, metaverses, and NFT utility. We want to share his thoughts on the blockchain gaming market trends and needs.

Metaverses Cannot Exist without Refined Game Balance

To roll out the virtual sports universes in the form of metaverses, we need to understand how to create unified cool gaming characters that can be used in different games across the same virtual world. One of the possible solutions is utility NFTs, where characteristics for each virtual sports title will be written at the metadata level. 

Another big issue is the game balance settings both at the level of individual gaming and at the scale of the metaverse. While the market is flooded with virtual sports designers who can implement game balance within one (albeit huge) game world, there is no experience in setting up such balances at the metaverse level, which is a much more challenging task.

How the Blockchain Market Evolves?

We see new blockchain-based virtual sports appearing on the market, but compared to the first projects, they feature better gameplay. We are approaching the moment when such projects can be of interest to classic players due to tuned balances and thought-through mechanics. It becomes possible thanks to the participation of specialists from the classical video sport market: they are primarily focused on gaming experience, rather than NFTs and token sales.

Do Games Need a Metaverse to Exist?

Of course, sports can exist without a metaverse – there’s a myriad of examples. However, more and more appealing metaverses will appear on the market, attracting millions of users. If a project appears to deliver stunning gameplay and a well-balanced tokenomics and manages to succeed in the long term, it stands all chances of forcing out current leading sports. 

At the same time, such giants as GTA5, Horizon Zero Dawn, Fortnite, PUBG, WoW, Lineage, Assassin’s Creed, and many more can create metaverses based on their title, which guarantees a huge loyal audience right from the start, but with a quite high-risk level to lose part of the current fun. So, it’s challenging for developers as well.

What to Expect from the Synergy of Games and Metaverses

Metaverse technology allows for immersive virtual environments that can be explored and interacted with in ways not possible with traditional sports. By integrating improved gaming mechanics into virtual environments, players can experience a new level of engagement and complexity.

One perspective on the synergy of virtual sports and metaverses is the potential for enhanced social communication. In a metaverse, players can interact with each other in a more natural and immersive way. This opens up opportunities for social gaming experiences that go beyond traditional multiplayer games. Players can socialize and collaborate without borders.

Another perspective is the potential for new gameplay mechanics. Metaverse technology allows for more complex and dynamic environments, which can be used to create new types of gameplay. For example, virtual games could incorporate elements of virtual economics, allowing players to buy and sell virtual goods within the metaverse. This creates a new level of immersion and depth, as players have to navigate a virtual economy to succeed.