Gabby Dizon, co-founder of Yield Guild Games, claimed that completely free-to-play platforms will be launched instead of play-to-earn (P2E) to attract players to popular Web3 games that will be released in 2024. Dizon stated that unlike games like Axie Infinity Classic, which requires players to purchase at least three Axie NFTs to enter the platform, the GameFi sector will eliminate financial and technical barriers as much as possible.
Statements from a Prominent Figure in the Gaming Industry
Dizon stated that these steps towards free gaming models are part of a broader effort by Web3 game developers to prioritize game design and tokenomics:
“There is a great awareness that a game should be free for millions of people to enter. There is an evolution of business models where playing games is free, and at some point, you can earn an NFT or start earning tokens while playing, but many new games do not require initial NFT ownership.”
Dizon also added that this development constitutes a significant part of the solution against speculative Web3 game bubbles. Dizon stated that by making improvements to the games that players will continue to prefer, they will reinvest their capital into the game and prevent the in-game loop from becoming a cash-generating machine.
What’s Happening in the GameFi Space?
The blockchain gaming industry, which showed a parallel decline to the crypto market, witnessed its own setbacks after players and revenues withdrew from the ecosystem following the sudden collapse of token values related to Axie Infinity in late 2021.
Surveys conducted in October 2022 indicated that even the most dedicated crypto gamers lost interest due to the excessive financialization of the game, lack of entertainment, and confusion about the crypto wallet platform. Dizon stated that all of this is about to change with the process and made the following comments:
“After Axie became popular two years ago, many experienced teams took a look at its rapid rise and thought, ‘Maybe I can make something better by creating my own game.’ Many of these teams received funding in late 2021, and it usually takes two to three years to develop a really good game.”
Over the past 18 months, Dizon and other leaders in the Web3 gaming industry have been eagerly awaiting the release of a series of new Web3 games, such as the blockchain-focused trading card game Parallel, which had its Epic Games store launch on November 16.
