According to Ruby Yong, CEO of Animoka Brands, the lack of a wide selection of high-quality products has so far prevented crypto gaming from gaining popularity among mainstream consumers.
GameFi, or blockchain-backed gaming — one of the newest, most promising crypto sectors — allows gamers to earn monetary rewards and take ownership of items in games.
Despite the sector’s immense potential, the number of products available is still not enough to attract mainstream customers, Yong said during a recent Cointelegraph Research panel discussion on venture capital investing. Drawing an example from the history of mobile gaming, Young pointed out that it took years for the available titles to reach “critical mass”.
“The blockchain game space is still so nascent compared to the time it takes to make a good game,” said Yeung.
The CEO also pointed out the rapid pace with which the crypto-gaming sector is changing and the need for firms to be agile and flexible.
“This agility has been an essential skill in this market for years, and it will continue to be so,” he said.
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