How to approach blockchain gaming

Summer is here but web3 and blockchain gaming is keep going given us a headlines week after week, showing, despite the current economic situation, is growing and innovation every day.

During the 3 weeks, we have been reading different news about how the big players in the gaming sector were taking positions on the use of blockchain technology, and in particular NFTs, in their games. 

And, while Microsoft banned the use of NFTs in their popular game, Minecraft, on the other hand, Square Enix, owner of Final Fantasy,  embraced this technology, reaching an agreement with Enjin.

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But those approaches to web3 and blockchain gaming are not news, in the past while EA or Ubisoft announced their position and movements  to make use of the technology, Steam, (Valve), was totally against and banned such games on its platform and from my perspective, we will continue to see news of this kind for some time to come.

Whether we talk about Square Enix, they are moving towards a web3 strategy, not only launching collection of NFTs, such as for the 25th anniversary of Final Fantasy, if not that the have a clear intention to go forward with the integration of blockchain, and other recent moves, such as the investment in blockchain payments company Zebedee,, as well as prior investments in The Sandbox and the introduction of its Dungeon Siege  franchise to The Sandbox, prove that. 

From my point of view this first step in the direction of “decentralized gaming”, rather than a definitive plan of action. It is easy to understand what is at stake for these companies and why they are so cautious in making moves in this direction, and, in the Square Enix case, they are starting to launch NFTs as cards on Final Fantasy. 

This movement  is understandable given the importance of the Final Fantasy franchise to Square Enix, as they are letting for the lesser-known franchises the biggest changes in terms of integration to blockchain.

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Seeing the strategy and the movements of Square Enix,  EA or Ubisoft, is made more strange and rare the last announcement from Microsoft: It has announced a ban on the use of NFTs and blockchain technology within Minecraft, changing their previous position into web3. 

That change in position, it is a good indication that industry fracturing is coming during the end of the year and 2023, we’re going to continue to hear this type of news in both ways: embracing blockchain and hating it. 

In the short term, blockchain is giving more disadvantages than advantages to companies such an Activision Blizzard or EA that are under the spotlight players and regulators. 

On the other side, blockchain gaming is starting to be a must in Asia, where the new models of monetization, the current implementation of web3 and the level of investment of their publishers, such as Animoca Brandsmake it so that from  BELOBABA, we don’t see that trend is going to change.

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What will happen in the rest of the world? So, as so many times, main European and American companies will arrive late and they will have no choice but to buy web3  studios, such as Dapper Labs,  to not to miss the wave of innovation which we are currently immersed in.