NFT video games are ‘only scratching the surface’ of what’s possible — Animoca’s Yat Siu

Animoca Brands co-founder Yat Siu believes nonfungible token (NFT) games are only scratching the surface of what’s possible and predicts completely new models of gaming will be developed as a result of digital ownership.

Speaking to Cointelegraph, Siu likened the potential growth of NFT gaming to mobile phone gaming, which started out relatively niche and clunky in its formative stages before rocketing to become the most popular method of gaming across the globe.

“Mobile gaming brought a form factor of a type of game that we’ve never seen before, you know, one-hand play and that kind of stuff, and innovations around how you play with AI [artificial intelligence]. Because of the fact that you have this limited form factor, it became the most popular form factor in gaming,” he said.

Siu commented that while many blockchain games themselves also have a clunky experience at this stage, the whole sector is still quite new. As such, it is only a matter of time until more advanced models are created that are designed around the ideas of digital ownership, interoperability and economic utility for the user.

“With NFT games, we’ve solely actually scratched the floor. Everybody’s very centered on possession. […] I believe it’ll mushroom into every part and we will see new sorts of recreation codecs emerge due to the possession that we weren’t in a position to do earlier than.”

Within the interim interval, Siu pointed to metaverse gaming platforms and massively multiplayer on-line video games as fashions that match properly with NFTs, as you “can trade items and you have deep levels of economic design” that make sense.

The Animoca co-founder additionally argued that many present customers are prepared to simply accept that the blockchain gaming expertise is just not essentially clean at this stage.

He instructed that this was as a result of they’re conscious of the importance of having the ability to personal a stake within the video games, versus the standard mannequin wherein individuals sink capital into video games that they will by no means retrieve.

“I mean, when you think of this [blockchain games], you could say it’s a UX [user experience] nightmare. But because of ownership, people put up with it not just because it’s valuable, but because it’s meaningful because this is my land, this is my car.”

Requested when NFT know-how will get to some extent of seamlessness that even a grandmother can use it with out being conscious of it, Siu emphasised this could possible be by means of the widespread tokenization of bodily issues, NFT integration with generally used companies and the way individuals work together with one another.

Associated: Blockchain games and metaverse projects raised $1.3B in Q3: DappRadar

He outlined that because the world continues to turn into extra digitally centered, kids will in fact need digital issues.

“Grandma is probably going to buy a digital item for their grandchildren as a way to not just as a gift that’s relevant to them, but also as a way to interact,” he mentioned, including that vice versa, a grandchild may even present their grandmother a digital illustration that they drew.

“We’re going to have a digital world. These digital artifacts and art and creativity and games and utility that’s going to be mushrooming in the thousands and thousands and thousands of small medium enterprises that are going to be doing this.”

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