Animoca Brands Co-founder: “GameFi Has The Most Promise In Asia As Local Gamers Are Tolerant Of NFTs”

  • Singapore hosts Asia Crypto Week
  • The event was attended by co-founder of Animoca Brands Yat Siu 
  • He thinks GameFi has great potential
  • But at the same time, only in Asia, because here gamers do not impede progress.

Yesterday, September 26, Asia Crypto Week started. Among those invited was Animoca Brands co-founder Yat Siu. Speaking to Cointelegraph, he commented on the outlook for the GameFi market and shared his vision of why many gamers oppose NFT integration.

“I think that it is Asia that can become a leader in the field of blockchain-based gaming solutions, at least in the short term. And it’s not just that there are simply more gamers in Asia, but they are also more tolerant of NFTs,” Siu said.

According to the businessman, this state of affairs is dictated primarily by the mentality. If in the West any attempts to “make money” on gamers are met with hostility, in Asia this is treated with understanding.

According to Sioux, in the US, for example, NFTs are looked upon as a “rich man’s fool.” And in Asia, tokens are a method of self-expression and earnings. Moreover, both motives are tolerated here.

In turn, innovative gaming solutions, including tokens, attract venture capitalists. They invest money, which stimulates the entire financial ecosystem to develop.

Why do gamers in Europe and the US dislike NFTs?

A vivid example of the attitude of users towards tokens in games is the situation around Ubisoft. Last year, the company announced plans to introduce this technology into its AAA projects.

Gamers greeted the innovation with a boycott . According to most, in this way Ubisoft simply “tried to make money” on users by offering paid collectibles in and so, in general, not cheap games.

In the same way, users greeted the news about the possible integration of tokens into STALKER 2 . At the same time , the developers later completely abandoned this idea out of fear that the game would lose its fan base.

On the other hand, in Asian MMOs and P2E projects, paid collectibles are not uncommon. They sell literally everything, from ” cosmetics ” to in-game content.

This difference is pointed out by Sioux. In his opinion, criticism of the audience slows down the process of innovations, especially with regard to Internet technologies.

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