The number of blockchains out there is becoming a problem for blockchain gaming, according to a Web3 gaming executive.
According to Sebastien Borget, co-founder of The Sandbox and president of the Blockchain Game Alliance, the vast number of blockchains means that users are spread out across many different networks, with no single one boasting a large user base.
“Too many blockchains” is one of the biggest challenges in the industry, Borget tells Web3 Gamer.
Gaming companies have to figure out which blockchain ecosystem to choose, with so many options, including ImmutableX, Base, Avalanche, Ronin, BNB Smart Chain and more, among all the layer-1, -2 and -3 blockchains.
“We can no longer say that Ethereum is the gaming or NFT blockchain, as ImmutableX, Solana, Aptos, and now The Open Network have many more DApps and active users.”
With so many blockchains out there, each one is offering more “grants and incentives” to lure in gaming developers from the pack, says Borget.
But Borget raises a point: Beyond the perks like transaction speed, trust and transparency, do these blockchains really have enough users and a well-developed ecosystem?
He also noted that convincing rich venture capitalists to fork out some cash is getting tougher and tougher for the Web3 gaming industry.
Borget explains that there are “lesser investments than ever and more constraining token vesting and release schedule conditions that affect the viability of projects tokenomics on a longer-term.”
He also mentions that launching an NFT isn’t the hot trend in Web3 gaming anymore.
However, Borget thinks that in 2024, the Web3 gaming industry has “matured” in that the quality of games is finally meeting players’ expectations.
The Blockchain Game Alliance (BGA) is teaming up with Web3 advisory firm Emfarsis again to run the 2024 State of the Industry Survey. It’s open until September 20 and…
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