GameFi and Crypto "Natural Fit" for Game Publishers: KBW 2022
Korean experts believe that crypto will play a major role in the gaming ecosystem, and within the next three years the majority of games could have a crypto-economy in play.
Interview
South Korea is considered the fourth largest gaming market and one of the biggest blockchain adopters. However, the country has banned play-to-earn (P2E) blockchain games due to the integration of crypto. New pro-crypto chairman Yoon Suk-yeol had hinted at lifting the ban, but the government has yet to make any significant efforts.
Anthony Yoon, managing partner at blockchain accelerator and investment firm ROK Capital, in an exclusive interview with Cointelegraph, said GameFi is a natural fit for Korean game publishers. Yoon shed some light on the current state of GameFi in the country and how game studios are approaching blockchain integration during Korea Blockchain Week 2022 (KBW)
Yoon explained that there are two thought processes among web2 gaming companies looking to transition to web3 gaming and blockchain. When one side is looking for ways to derive value from their projects and build their ecosystem on the blockchain from scratch, with token integration being the last step, the other side is ready to first launch a token and outsource technology.
Talking about the popularity of global blockchain projects such as Solana and Polygon compared to Korean native projects, Yoon explained that their popularity does not only depend on the amount of capital they bring in, but more so on the infrastructure and the ecosystem they have to offer. He explained:
“From a feasibility perspective, I think something that these game studios are also looking at is their users on this channel. Is there an ecosystem on this channel? on-chain infrastructure?"
Yoon also said that...
Korean experts believe that crypto will play a major role in the gaming ecosystem, and within the next three years the majority of games could have a crypto-economy in play.
Interview
South Korea is considered the fourth largest gaming market and one of the biggest blockchain adopters. However, the country has banned play-to-earn (P2E) blockchain games due to the integration of crypto. New pro-crypto chairman Yoon Suk-yeol had hinted at lifting the ban, but the government has yet to make any significant efforts.
Anthony Yoon, managing partner at blockchain accelerator and investment firm ROK Capital, in an exclusive interview with Cointelegraph, said GameFi is a natural fit for Korean game publishers. Yoon shed some light on the current state of GameFi in the country and how game studios are approaching blockchain integration during Korea Blockchain Week 2022 (KBW)
Yoon explained that there are two thought processes among web2 gaming companies looking to transition to web3 gaming and blockchain. When one side is looking for ways to derive value from their projects and build their ecosystem on the blockchain from scratch, with token integration being the last step, the other side is ready to first launch a token and outsource technology.
Talking about the popularity of global blockchain projects such as Solana and Polygon compared to Korean native projects, Yoon explained that their popularity does not only depend on the amount of capital they bring in, but more so on the infrastructure and the ecosystem they have to offer. He explained:
“From a feasibility perspective, I think something that these game studios are also looking at is their users on this channel. Is there an ecosystem on this channel? on-chain infrastructure?"
Yoon also said that...
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