The Future of Blockchain Gaming According to the ABGA Blockchain Gaming Summit 2022

Sossi

Oct. 17, 2022

The Asia Blockchain Gaming Alliance (ABGA) hosted a successful “Blockchain Gaming 2022 Summit” that took place in Singapore, on September 29, 2022, at the Sands Expo and Convention Center. The theme of the conference was “Create a New Way for Gameplay”, it touched upon new ideas for the development of Web3 gaming in the future.

According to the press release of October 02, 2022, the conference aims to release the potential of the game industry through gaming technology, empower the game track, explore the huge untapped potential in the field of blockchain gaming and the Metaverse and provide the industry with a platform for gaming resource-sharing and technical exchange. Through joint efforts to build a positive development ecosystem in the Metaverse, the future gaming industry looks primed to skyrocket.

Opening remarks:

Delivered by executive president of ABGA Kevin Shao, he introduced ABGA’s history, present blockchain industry development trends and technological ecosystem. He stated that investors who have faith in the long-term potential of blockchain, will focus on Web3 sectors like blockchain gaming during the industry’s current weak market.

Keynote speech: “Sports and Metaverse: Bringing the world of sports fans together with immersive experiences,”

Was delivered by NFT Star CEO Gagan Palrecha who said that the focus is on building quality games that are supported by great enhancements that Web3 can deliver to gamers.

Keynote speech: “Digital identity: Unlock the power of blockchain gaming.”

Sandy Carter, senior vice president of Unstoppable Domains shared how digital identity unlocks the potential of blockchain. Sandy said, “Digital identity and Web3 will become the new gateway to the internet, where Web2 companies will begin piloting Web3 concepts incorporating digital identity.”

Keynote speech: “GameFi and economic model”

By Mark Lee, chief financial officer of Monsta Infinite, who said “when you design an economic model for a game, you should take note that it is not about the revenue model, it’s all about user acquisition.” Mark added that to be a successful project, it should be self-sustainable.

Ariel Widhiyasa, CEO of Mythic Protocol, also provided insights on how to capture the moment in the industry: “To balance the distribution of value (to each group) to ensure sustainability, the role of ‘regulation’ (whether it’s centralized or decentralized), and how much interference is too much to intervene with the invisible hand at work.”

Immutable co-founder Robbie Ferguson shared his views on blockchain gaming opportunities in the keynote speech “The opportunities in blockchain gaming.” He believes that user-generated content is the future of all entertainment industries, and gaming is one of them. The Web3 world could redefine the relationship between players and games.

Keynote speech: “Why blockchain games need gaming guilds.”

YGG co-founder Beryl Li shared the role of the Blockchain Games Association in the industry in the In 2020, YGG launched the game Axie as well as a scholarship program to provide opportunities for players without funds to participate in the game, helping the local community in the Philippines through the difficult times of the pandemic.

Keynote speech: “How to fight the bears,”

Joshua Galloway, chairman of Candy Club, made a keynote speech on the theme of saying that “Candy Club is all fun, no drama. Very seamless, just a few minutes to integrate everything together, designed for the crypto world.”

Roundtable discussion:

Klaytn, Avalanche, Polygon, BNB Chain and other public chain giants were invited to participate in the roundtable discussion. The Public Chain is looking to expand hackathons into different regions to get talented game developers to build, supporting projects not only with funds but also on the business and tech sides. The future of DApps will be Web2.5, a combination of Web2 and Web3.

Roundtable discussion: “Blockchain gaming ecosystems in different countries.”

Guests from Marblex, Mythic Protocol, Polemos and Savanna Survival participated in this roundtable discussion. The guests summarized the current development status of blockchain games in various countries. In general, the challenge for gaming is to be a seamless gaming experience that is safe, easy to onboard and fun to play, which will come by in the years of development and education for the game’s players.

The afterparty, hosted by ABGA and title sponsored by XT.com, was held at Ce La Vi. With More than 1,000 participants, audience and visitors celebrating and conversing freely with high excitement, the summit reached a successful conclusion.

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