Web3 GameFi Exploration by Web2 Gaming Brands

The popularity of Web3 GameFi cannot be further ignored by the gaming industry. Popular Web2 brands are ready to explore blockchain game technology.

Big Web2 Brands Eye Web3 GameFi, some wary

Blockchain gaming took off in 2021 with the rise of Axie Infinity and traditional gaming brands took notice. Since then, the growing Web3 GameFi space has drawn mixed reactions from major players in the traditional game industry.

Some game studios want to stick to the status quo of the gaming ecosystem. Mojang Studios, the creators of Minecraft, has every Non-fungible token (NFT) integration into their games. Steam, the game platform developed by Valve with several major game titles, pulled all blockchain-related games from their platform.

These moves prompted game studios currently building blockchain-based projects to completely rethink their Web3 strategy.

Not all game brands share the same critical sentiment as Mojang Studios and Steam. Some eSports teams, game publishers, and even popular gaming hardware brands have embraced blockchain gaming technology — or at least are looking with interest at how GameFi in Web3 will develop in the future.

Hardware Parts

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Corsair is known for PC components suitable for gamers. They offer high-quality keyboards, cases, headsets and everything else gamers need for an easy gaming experience. The brand has a partnership with Elemon, a PlayAndEarn protocol on BNB Chain. Corsair will have a special land area in the Elemon Metaverse and even launched game modes that give away Corsair items as prizes.

Game platforms

Epic Games Store is often seen as a competitor to Steam. When the latter announced their stance against blockchain gaming, Epic’s CEO made sure the world knew they had a different stance on GameFi.

Epic Games has a partnership with Blankos Block Party, an open-world multiplayer NFT game recently launched on the Epic Games Store. Epic also expressed interest in one of Gala Games’ projects. Grit, which is currently in development, will also be available on the Epic Games Store.

ESports teams

Competition is what makes games exciting and eSports teams are bringing that competitive fire to gaming ecosystems. ESports teams like Fnatic, Navi, Team Liquid and others are household names in the Web2 gaming scene, and now these brands are also partnering with Web3 game Guild of Guardians.

Each team becomes playable characters within the Guild of Guardian ecosystem.

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Talent agencies move to Web3

Influencers, content creators and streamers also play a key role in the gaming ecosystem. With the growing presence of blockchain games, talent management agencies are looking to capitalize on the growing Web3 market.

Source: Tier One

Tier One, one of Asia’s premier esports entertainment and talent management organizations, aims to do just that as they venture into the world of Web3.

“The main value we think we bring to Web3 is our ability to drive and drive traffic through viewership and customer conversion,” Adam Vinluan, Tier One VP of Crypto, told BSCNews. “We want to be able to deliver the marketing machines we have in Web 2 to drive traffic to the existing and future projects in the Web3 space.”

Game publishers are also watching GameFi

While blockchain gaming is disrupting the business model of traditional game publishers, many don’t want to be left behind as the Web3 GameFi trend continues to gain momentum.

Bandai Namco, makers of game titles like Dragon Ball, Monster Rancher and Digimon, has announced that it will build its own metaverse with a budget of $130 million. Square Enix, the makers of the Final Fantasy and Kingdom Hearts franchises, released and sold out its NFT trading cards in Japan last year. Two other gaming giants, Ubisoft and Electronic Arts, are also exploring blockchain technology.

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