On 22nd February , ABGA new year First online discussion “When will the next big wave in gamefi” was succesfully held !
The discussion was held on Twitter Space, hosted by Yoka, Secretary General of the ABGA Secretariat, and many big names from the blockchain GameFi track developed a wonderful brainstorm. The most avant-garde track analysis, the sharpest industry issues sa well as the intense discussions from multiple perspectives have attracted many blockchain gaming enthusiasts, GameFi practitioners, traditional game players, and KOLs in the blockchain industry to listen.
The online discussion is in the form of a question-and-answer format between the guest group and the observation group. ABGA invited four well-known KOLs from the GameFi track: Brian Lu, founder of YGG SEA;OSCAR, investment director of Kucoin Venture; Charlie Hu, managing partner of Lucidblue Ventures; and Jason, head of Atlantis. The observation group consisted of media representative Tracy, who officially changed its name to Cointelegraph Chinese, college student entrepreneurial representative Edern, Yale University doctoral student , A&T Capital intern researcher ViVi and community representative Hailie from the portal platform GameWay Form together to ask tough questions to the panel of guest speakers. See how they take it!
The observation group pointed out that the GameFi track has returned to rationality in the explosive growth last year. In the face of the gradually declining market, what do many guests think? The guests gave their views in turn.
Brian Lu, founder of YGG SEA, said that the market performance of GameFi this year is indeed not as good as last year, especially for start-up projects, financing will be more difficult compared to the second half of last year. But because of this, the project side of the start-up project can calm down and think about how to make the project sustainable. For example, how can they improve the quality of projects, how to strengthen community management, market operations, etc. In other words, the game team has more time to think about what is more important to them. This is a problem that many project parties have no time to consider during the outbreak of the track, and these problems often determine the future of the project.
Later, Oscar, the investment director of KuCoin Ventures, also gave his insights. He said that from an investment point of view, most of the investment cases were mainly concentrated in October-December last year, but the potential of the GameFi market is huge. There are still many undiscovered or undeveloped high-quality projects with innovative quality waiting for investment. The number of gamers in the Asia-Pacific region is tremendous, but currently, 30% of the blockchain game industry practitioners are traditional game professionals, and about 34% are blockchain professionals. 80% have been engaged in blockchain games for less than 3 years, 40% have been in the industry for less than 1 year. People familiar with both game and blockchain fields are scarce, especially for producers and ITs. This is a very young industry, and the overall team size is relatively small, so such market potential is the reason why KuCoin will continue to invest this year. We will not be affected by the cool-off market in the industry and also will not close investment channels.
Soon, guests also discussed the development trend of this year. Charlie Hu said that DeFi in NFT may be the main theme of the development of the track this year. NFT lending can solve the liquidity problem of game assets, which is very beneficial to the long-term development of the track ecology. Prior to this, many in-game assets were concentrated in the hands of collectors who did not play games but have the NFT ownership, which makes the liquidity of game assets worse. In addition, The development of the Gold Guild provides a way for NFT rental and a gradually improved mechanism, which can not only lower the entry threshold for players, but also allow game assets to flow fully. For those players who are willing to spend time but cannot afford to buy expensive NFTs, DeFi in NFT gives them such an opportunity to enter the game easier and thus drives the popularity of the game, Charlie also pointed that the growth of gamers is the fundamental of the development of GameFi .
At the end of the discussion, every guests also looked forward to the industry ecology. Vivi, phd student in Yale University, and Edern, who formed an interest team with classmates to start an NFT project, also expressed their confidence in the future of blockchain and GameFi. I believe that there will be more interesting blockchain games and high-quality 3A games in the future.
ABGA will hold more online discussion this year, and hopes to invite pioneers, KOLs, and investment giants to share multiple perspectives for gamers, practitioners, project parties, investment institutions and other industry parties in gaemfi track, realize information exchange, and jointly promote the ecological development and future construction of gamefi/Metaverse/NFT and other tracks.
