Big gaming firms are working to spur mainstream blockchain gaming adoption, and don’t want to “change that policy” even if it causes pushback from some.
The MSIT identified that imposing older regulations serve as a deterrent to the growth of new ecosystems.
The company announced its acquisition of WePlay Media after it recently closed multiple multi-million dollar fund rounds with investors such as Temasek.
Once blockchain games can offer a similar experience to League of Legends or Fortnite they will become more popular, argues Blowfish Studios’ Luke Sillay.
While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022.
Enjoy Axie Infinity, DeFi Kingdoms, and other cryptocurrency games while they last, because lawmakers are poised to crack down by mid-2023.
Korean experts believe that crypto would play a major role in the gaming ecosystem, and within the next 3 years, the majority of games might have an in-game crypto economy.
Sky Mavis co-founder and growth lead Jeffrey Zirlin says Axie Infinity wants to double down in South Korea, which they see as one of the most important gaming markets in the world.
Axie’s monthly revenue has dropped over 98% from its August 2021 peak of $364.4 million.
As high inflation destroys the purchasing power of fiat, these options offer hodlers a way to add to their portfolio without breaking the bank.