Many people are in favor of blockchain games, and this year appears to be the year that could bring about high-quality online games using the technology. Polygon’s games vice president Urvit Goel recently shared that the company was endeavoring to make blockchain games a reality. He said 2023 would be the year that blockchain and gaming will be seriously vetted for all the promises made previously. He intimated that Polygon has been the trailblazer with the integration of the NFT marketplace.
Even though the collapse of FTX upset the industry, the Web3 blockchain gaming sector has kept scaling north of $500 million in value from last year. “Our main focus is helping builders enter the market to launch blockchain games using new tech,” said Goel.
Goel’s job description is to help developers build better products and connect them to tech and the marketplace. Polygon put up a $100 million ecosystem investment fund for Web3 gaming, where Polygon released capital to native builders needing support and capital. Competition within the blockchain arena is healthy and will create successful blockchain enterprises.
Blockchain gaming enterprises are engaged in healthy competition for gaming clients. Goel doesn’t view other blockchain entities as competition; he instead focuses on the main task: to spread the usefulness of the tech to get more people to adopt Web3 gaming. As for different blockchains being in the market, “different strokes for different folks” is his mantra.
There is a difference between blockchain tech enablement vis-a-vis centralized exchange, said Goel. The FTX crash impacted the market negatively and will take a while before the market regains its stand. The sector is experiencing a lull. “The assumption is that gamers will keep playing regardless of the bull or the bear market season,” said Goel. Many western gamers protested the negative reaction that blockchain games are a scam, he added.
Goel is of the belief that there is a contingent of crypto-savvy fanatics but quite few blockchain games in the biosphere. He is certain that game startups will lead the way in blockchain games as they assimilate the new technology though the industry needs to up its infrastructure wholly, be it in marketing, data analytics wallets or payment.
Regarding the intersection between blockchain gaming and the metaverse, Goel says there is a close tie and the metaverse trend will continue as investors pump in cash for them to deliver a decentralized metaverse, though this going to take some time.
As entities such as Tingo Inc. (OTC: TMNA) deepen the penetration of blockchain technology in sectors such as agriculture while others focus on industries like online gaming, it won’t be long before every aspect of daily life has been impacted in some way by this powerful technology.
NOTE TO INVESTORS: The latest news and updates relating to Tingo Inc. (OTC: TMNA) are available in the company’s newsroom at http://ibn.fm/TMNA
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