Integrating cryptocurrencies into video games could enhance the overall gaming experience, says Amy Wu the head of FTX Ventures Fund. She urged developers to take the fans into consideration when making decisions about using crypto.
Wu, in an episode of Decrypt’s gm podcast, highlighted that play-to-earn games were the first to incorporate crypto. Initially, there was some pushback, but that has now eased. However, she said that studios are yet to develop games that seamlessly incorporate digital assets while delivering great gameplay. Presently, most revolve around tokenomics.
Wu pointed out that she wouldn’t have been able to predict how fierce the animosity has been with some gamers against non-fungible tokens. She described it as unfortunate and interesting at the same time. Some high-profile developers are interested to integrate crypto into their games. GSC Game World cut short its NFT plans for the S.T.A.L.K.E.R.2 video game following backlash from its fan community. As such, Wu believes game studios need to be more thoughtful and careful about how communicating with their player base.
She acknowledged that it’s different when studios create new games. FTX Ventures has a wide range of investment themes across social, gaming, software, fintech, and healthcare in multi-stage companies. Wu understands gamers raising concerns about their experiences being altered if blockchain takes over the industry. She noted a few fan bases more passionate than a gamer is about their game.
The fan bases are super protective, holding onto the integrity of the content that the studio is doing the right thing and that their voice is being heard and respected. Wu remains positive that the right balance will be achieved in the next few years. She believes they will be creating a lot of new Web3 gaming fans along the way, as well as converting some of the existing gamers.