Major video game studios are scaling back plans to develop their own blockchain-based play-to-earn titles, amid an ongoing downturn in the GameFi and wider cryptocurrency sectors. According to sources quoted by Bloomberg, NFTs and cryptocurrencies introduce a speculative and profiteering element into gaming that at least some major publishers would prefer to avoid.
However, while some studios have indeed shied away from developing blockchain-based titles since acquiring or investing in crypto-native developers, others appear to be taking a wait-and-see approach, refusing to withdraw from the space completely while waiting for improved market conditions.
At the same time, the withdrawal of at least some major game developers would arguably be good for the play-to-earn space. That's because it would free up crypto-native studios to develop their titles more organically, and more in the spirit of crypto itself, without being subject to the external pressures of multinational...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...