Brady Dale's write-up posted by
@mikemercury absolutely nails it.
Some of the main barriers to mass adoption that I'm aware of are:
• Fear of the unknown – blockchain and crypto
• Regulatory uncertainty – need a global framework or some international standards
• Requires a virtual wallet – KYC, bank details etc
• Gas fees
• Great games
Brady focusses on the latter, which might turn out to be the most important factor in mainstreaming blockchain gaming:
"Blockchain games aren’t going to capture the public imagination until there’s a genuinely great game – full stop.It looks like the industry thinks gamers will one day say, “Oh cool, I can own my digital items? Let’s play this blockchain game!”That’s not how it’s going to work. This premise won’t fly until gamers say, “This blockchain game is so cool! Oh, hey, neat, I guess I really own my digital items?”
Gamers want to play great games. If they can get additional benefits out of playing, great, but it needs to be a great game first and foremost. Play-to-Earn will always feel more like work-to-earn as long as the game is boring compared to distractions available on platforms such as the PlayStation or Nintendo Switch.You can find lots of videos out there about blockchain games where people brag about making money. It’s a whole weird thing. What you can’t find are videos of people saying: “I can’t stop playing this thing” and “here’s how you win.”Earning is nice but it’s not a game-for-gamers until they want to win."I don't think that Brady has a negative outlook, he is simply being realistic. His observation is pretty accurate in my opinion - 1st and 2nd generation blockchain games are not massively appealing from a game playing perspective. Brady implies that there has been too much emphasis on the "earn" element and there needs to be more emphasis on the "play" if the gaming masses are to migrate to the blockchain.
Animoca should really take note of this observation. The first great game will entice millions of gamers to join in the fun and could potentially generate billion-dollar revenue streams.
Fortunately for us investors, it is not a winner takes all. The ecosystem will benefit from several smash hit games. The task for Animoca is to develop, publish and/or acquire one of these great games.
Brady has basically laid out the challenge - build some great games and the gamers will come.
I have confidence that the blockchain gaming sector will rise to this challenge, but am more uncertain about the timescales. A blockbuster game could be launched this year, but nobody knows. It could take several years of experimentation and fine-tuning. The sooner the better, as a rising tide will lift all boats. Nevertheless, we need to be realistic. Things take time.
Many commentators have drew parallels between the blockchain market today and the Internet boom of the late 1990s. There were only 36 million Internet users in 1996, which is similar to the number of cryptowallets in early 2020. The journey is only just beginning.
