How to Extend GameFi’s Long-Term Viability as the NFT Market cools down?- AMA Recap
On September 15th, HECO and Bi Xiaobai held a live streaming session, dubbed “How to Extend GameFi’s Long-Term Viability as the NFT Market cools down?”. CEO of Animoca Brands Robby Yung and Rachel, Pre-Investment Analyst at Huobi Ventures, joined as special guests.
Highlighted opinions at the live streaming session
1.Rachel Zhang, Pre-Investment Analyst at Huobi Ventures: “The biggest differentiating factor between NFT avatars and NFT games is value anchoring”
“The biggest differentiating factor between NFT avatars and NFT games is value anchoring. Players find NFT avatars valuable for their collection and display attributes. But NFT games, in addition to collection purposes, can also be used for trading, pledging and other scenarios that are related to the game’s content,” said Rachel, Pre-Investment Analyst at Huobi Ventures. “The functional strength of NFT games depend on their mechanism designs, while the viability of the GameFi concept rests with the games’ token economics and business models. The combined NFT + Gaming concept is making the most out of NFTs’ functions.”
Finally, Rachel explained that Huobi Ventures is setting up a $10 million GameFi fund to invest in early-stage GameFi projects, and will continue to invest in high-quality online games in the future. Huobi Ventures will work together with Huobi X Center and HECO to improve Huobi’s investment ecosystem in the GameFi world.
2. Robby, Animoca Brands CEO: The beauty of NTF is that they are composable and permissionless
During the livestreaming session, Animoca Brands CEO Robby Yung said,” t the beauty of NFT’s is that they are composable and permissionless. This means that anyone can develop platforms and services for NFT’s, including sharding. This kind of innovation will find a home wherever there is a need. That said, pricing is very important, and as we are seeing more projects now on layer 2 Ethereum chains or other chains with lower transaction / gas costs, some of the pricing issues we have seen with gas on Ethereum will solve themselves.”
3.Zhao Lei, HECO’s Head of Business: The cooling of the NFT market comes as people are realizing that NFTs aren’t as scarce and unique as they had originally thought.
During the livestreaming session, Zhao Lei said, “The recent cooling of the NFT market means that the market has returned to rationality. People are realizing that NFTs aren’t as scarce and unique as they had originally thought, making them less appealing. Their desire to make quick money in the NFT market is waning.”
Zhao Lei believes that the development of NFTs is not limited to the secondary market. At present, China’s NFT market is led by technology giants such as Baidu, Alibaba, and Tencent (BAT). But, there are more and more GameFi participants in the NFT field, and many traditional game developers are looking to incorporate NFTs into the next generation of games.
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