Has the Web3 Gaming Investment Arena Overcorrected? According to a WAX Exec, it Might Just Be Possible!

Is the Web3 Gaming Investment Arena Overcorrecting? A Perspective from a WAX Executive

Blockchain Gaming: Where Macro Trends, Investments, and Future Meet

When it comes to the gaming industry, it’s safe to say that what happens in the macroeconomic world doesn’t stay in the macroeconomic world. Michael Rubinelli, the Chief Gaming Officer at WAX, the Web3 ecosystem for gaming, recently chatted with Cryptonews and shed some light on how global macro trends affect the gaming investment arena. And let me tell you, it’s quite the rollercoaster ride!

Rubinelli admits he’s not an expert on the subject, but he emphasized that macroeconomic trends undoubtedly have a significant influence on the world of venture capital. It’s like the gaming industry is a paddleboarder in the ocean, with the macroeconomic waves threatening to knock it off balance.

One such wave crashed onto the shores of the gaming investment landscape with the rise of games like Axie Infinity. Initial success led to a frenzy of investment pitches centered around being “like Axie, but better.” It’s like investors were trying to catch a Pokémon, and Axie Infinity was the elusive Mewtwo.

But here’s the catch – during the crypto-winter, many of these projects failed. It turns out that not all that glitters is gold, or in this case, not all that Axies is successful.

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Rubinelli believes this led to an overcorrection in the gaming investment landscape. Investors became cautious, like a cat avoiding a puddle, tiptoeing around, waiting for a more robust and innovative Web3 approach to emerge. Picture them sitting on piles of money, playing it safe until the perfect opportunity comes along.

But fear not, fellow digital asset investors, because the gaming industry is resilient. Rubinelli predicts a positive future for blockchain-based games. He envisions a harmonious coexistence of blockchain-enabled games alongside traditional non-Web3 titles. It’s like a massive party where Mario and Luigi dance alongside Axie and his fellow blockchain warriors.

Rubinelli boldly states that in the next 3 to 5 years, over 75% of newly launched games will incorporate a mechanism for players to sell the digital assets they own. It’s like a virtual flea market where gamers can showcase and trade their prized possessions.

However, this transition to blockchain-based gaming hasn’t been without its challenges. Rubinelli points out that some non-game developers tried creating games that were essentially glorified decentralized finance websites. It’s like trying to blend salsa dancing with Shakespearean theater, a mismatch not even Romeo and Juliet could save.

But fear not, for the tides are turning. Renowned AAA game developers have secured funding to create authentic gaming experiences where players can genuinely own assets acquired in-game. Imagine exploring a virtual world where your sword isn’t just a virtual prop but an actual item you can sell or enhance like a seasoned blacksmith. It’s the future we’ve all been waiting for.

And speaking of the future, WAX’s blockchain-based wrestling-themed NFT game, Brawlers, has made quite the entrance. It launched on the epic digital distribution platform, Epic Games Store, offering its exciting gameplay to millions of PC gamers worldwide. It’s like unleashing a pack of wild wolves onto the global gaming stage.

Rubinelli believes that for blockchain games to achieve widespread adoption, they must compete not only with other games but with various entertainment options people have in their daily lives. It’s like asking players to choose between pizza and burgers, but with a side of intense gaming experiences. It’s a tough battle, but one worth fighting for.

So, fellow investors, strap on your VR headsets and get ready for a wild ride. The intersection of macro trends, investments, and the future of gaming is where the excitement lives. It’s like merging the excitement of the stock exchange with the thrill of a gaming tournament. Let’s embrace this blockchain revolution and game on!

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