NEST Roundtable 10: Will GameFi lead the way to the Metaverse?
Participants:
Woody: Head of Marketing of NEST
JZ: Co-founder of Gametaverse
Neil: Co-founder of CHILL
T.Y.: CEO and founder of Cradles
Bosen: BD & Community Manager of DeGame
Evan: Co-founder of Soul Reborn
Conference recording：https://twitter.com/nest_protocol/status/1587066416334635008?s=46&t=SjNcdJdbVESfb9UyvydZ2Q
Would you please introduce yourself and your project?
JZ: Gametaverse is a GameFi portal designed for users to track their NFT yields and game records. We provide users with an easy-to-use real time dashboard that aggregates all the GameFi data and tracks the entire industry.
T.Y.: Cradles is a GameFi and try to make it better technomics for all the players of Cradles and also for all the GameFi. Now we are just finish our pre alpha test and now we are just moving forward adding more contents into the game, as well as developing more functions to let the players to enjoy metaverse instead of just play-to-earn.
Bosen: DeGame is a one stop blockchain game aggregator platform that helps players and investors search and download all GameFi projects, track GameFi tokens and NFTS prices, identify play to earn opportunities and analyze projects on chain and off chain data to make investments.
Neil: CHILL is a web 3 motor social plus fitness product. We custom developed smart physical watch so like real smart watches and use the AI recognition technology to determine and correct the user’s fitness movements in real time. So, users can combine smart hardware, like our watch and NFT to get tokens we’re working out. We also have entertainment mode and social sections, so we are trying to really integrate M2E and SocialFi and the real product in the real world, together to explore the boundaries of the M2E products.
How do you think the relationship between GameFi and Metaverse?
JZ: I think GameFi might be the subset of metaverse. Metaverse is a very huge domain and concept. Metaverse is basically contains VR, AR and it’s more like a movie in called player 1. GameFi is more like a financial gaming where you can earn money in play-to-earn
T.Y.: There are two steps for forwarding GameFi into metaverse. First is GameFi to game and the second is game to metaverse. There are some technologies that can support networks to GameFi and metaverse. Therefore, from technology side, there should be a weak connection between the GameFi and metaverse but there is not a such a very strong connection. But during to the spirit, it has a strong connection, and it may have the same spirit for those two things.
Bosen: Technology wise, there’s still weak, but eventually someone’s gonna make it there. Metaverse needs something to be fun to play with, and also you need to bring in players who are really in the digital game industry into the metaverse. In metaverse, you have to incentivize your users too.
There are many kinds of GameFi, which kind of GameFi is closer to Metaverse and will lead the way to Metaverse?
T.Y.: I think none of the GameFi are close to metaverse. Like Decentraland and Sandbox, they are announcing them as themselves as metaverse. There are many kinds of the GameFi trying to make things online, like online meeting rooms and online office room, but once you are building offices, I don’t think this is making sense.
JZ: I didn’t see any GameFi that are close to metaverse. Maybe Decentraland and Sandbox, some of them have the potential, but none of them are showing a strong connectivity to metaverse. They are under development and need few times to upgrade and get closer to the real metaverse in my mind.
Bosen: I would say Decentraland and Sandbox too, they can lead the way, but it really depends on the next few steps they are making. They are selling a dream, but whether this dream could become reality, that’s another thing that everyone is waiting for. I mean even Facebook or meta, he’s selling a dream to do a metaverse, now he spent so much money and he only breakthrough a bit.
What is the current challenge to GameFi?
JZ: I think it’s not to build a 3A game like world of wordcraft. The developers just need to build some gamest that make people can spend time on it, can be kind of addicted to the game. It does not have to be high quality.
T.Y.: There are three challenges. The first is the attitude that people are making games. For instance, I’ve heard a lot of GameFi announcing that they are collecting the best employees from different companies to build 3A games. But once you are making games there are several things you need to know that games failures are frequent. Therefore, you need to think about how the developers can work together. The second question is do they have the time to making this game. For instance, if you are doing the AAA game, you may need several years and after several years will GameFi still exists or already died? The third question is what your attitude of is making games.
Bosen: Retaining the community is an issue too, because it seems to GameFi projects here are struggling very hard to all kinds of marketing campaigns , giveaways and AMAs to retain their user base. I see right now, the challenge is to get the web2 players on board. One reason is web3 games are still not ready to play, and another reason is web3 games are still not up to that level.
How do you think the future of your project? And how do you think the future of GameFi?
JZ: The current trending is more intended to be free-mint and NFT. There are games still centralized and still built by professional like game workshops. A lot of traditional web2 gaming developers are getting into this space, putting the assets in the game. This might be the endgame of the future GameFi.
T.Y.: Cradles is trying to find a better path that are linking to the metaverse because that we are seeing that nowadays all the GameFi are selling the expensive NFTs even though there are some of them are free mint, but with the limited number of NFT and plyers, they might not very cheap to play. As for trend, the first one is to crush the boundaries between the web2
and web3, because many of the GameFi developers and the founders already said that but none of them are actually doing things, because they cannot just forgive the chance to making money, so they are still selling the NFTs and assets. What I am doing is to let the free players to join into the game without the wallet needed.
Bosen: GameFi will go to into a billion-dollar industry in the next five years or so, building massive infrastructure possibilities. That’s what gonna happen for GameFi. We also aim to be the top search engine for the web3 GameFi industry.
Q&A (Some questions from audiences)
Gametaverse: @Srajal25 asked: As we know as of now #METAVERSE is struggling because of the lack of knowledge and accessibility so what steps are you taking to combat this issue?
JZ: This is because the concept of metaverse is still abstract for the users and people. So I will suggest the builders to make some mini game or demos for users to try and gradually dig in before build a metaverse.
CHILL: @olami3035 asked: I like the idea of your #move2earn especially #health2earn/own, I would like to know when will be the final launch of your chill app after the second test scheduled for November 1 will be over?
Neil: This is a sharp question; I could not really give a short answer about this. I can explain the reasons why we keep prolong the official launch. We can all observe the current market is really bare, and we see a lot of really good projects when they go public sales, they only have 1000 or 2000 FT sales. So, what we do is we just had a new investment. We are not like docking from the bear market, we are like installing the SDK from the physical watches so once that is complete, we’ll be able to monitor users’ health data.
Cradles: @gyrosix asked: In such a competitive environment, how do you plan to scale and develop your project to a greater height in order to reach for the moon? And how can you differentiate yourself from your competitors in terms of technology and customer support?
T.Y.: I don’t think that there are too many competitors because that faced the technologies, I’m very confident that we can do better than other projects, especially in GameFi. What we did is to just focus on the game development side, and now I want to say that for all the investors and audiences, if you are playing Cradles and if you already see that some game are making a better game visions and game designs that are greater than Cradles, just tell me.
DeGame: @AnkurAiran asked: You say that it is the number 1 in the world GameFi platform, and the website is very impressive having all GameFi projects information, are there any new things you are working on which you can tell to get more people interested in the website?
Bosen: We were updating the web page and platform basically, and we do have a section just for KOLs. This is already an update on degame.com, The other update which you can’t see right now is gonna be something where players when they log into the platform and connect their wallets, it will display all their NFTs
NEST: @sangampanda asked: What’s next in Nest? What all products are you planning to launch next?
Woody: the next of NEST is that we will become a financial infrastructure for all of the GameFi and DeFi with our PVM, where all the developers could generate on-chain assets by only calling our functions. We were also ready to launch our NFTs based on this PVM. It will be in Nov 11th, We are also going to incubate more and more GameFi and DeFi based on NEST.
