Play-to-earn mechanic not as rewarding as pitched to players
In late 2021, as crypto prices hit fresh records, several major gaming studios sought to position nonfungible tokens as the next big thing. Mere months later, falling prices and criticism from players and their own employees have muted that enthusiastic chorus.
Studios expected cryptoassets to create opportunities for players to own their in-game digital items while forging a new revenue stream for the publishers. The reality has been less straightforward.
Speculative assets like NFTs or in-game cryptocurrencies fundamentally change the dynamics of a game and the expectations of its players. These items, even if they’re a magic sword or a robot costume, are real-world financial assets. They possess an embedded level of speculative risk, with the potential for both reward and losses. Their presence in a game turns both creators and players into investors.
Mojang, the Microsoft-owned developer behind one of the world’s...
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