Web3 GameFi Exploration by Web2 Gaming Brands

Big Web2 Brands Eye Web3 GameFi, Some Warily

Blockchain gaming took off in 2021 with the rise of Axie Infinity and traditional gaming brands took notice. Since then, the growing Web3 GameFi space has drawn mixed reactions from major players in the traditional gaming industry.

Some game studios want to adhere to the status quo of the gaming ecosystem. Mojang Studios, creators of Minecraft, placed a ban on any Non-Fungible Token (NFT) integration in their games. Steam, the gaming platform developed by Valve with multiple big gaming titles, took off all blockchain-related games from their platform.

These moves prompted gaming studios currently building blockchain-based projects to rethink their Web3 strategy completely.

Not all gaming brands share the same critical sentiment as Mojang Studios and Steam. Some eSports teams, game publishers, and even popular gaming hardware brands have embraced blockchain game technology - or are at least watching with interest on how GameFi in Web3 will play out in the future.

Hardware Components

Corsair is know for PC components that cater to gamers. They provide quality keyboards, cases, headsets, and everything else that gamers need for a convenient playing experience. The brand has a partnership with Elemon, a PlayAndEarn protocol on BNB Chain. Corsair will have a dedicated land area in the Elemon Metaverse, and even launched game modes that give off Corsair items as prizes.

Gaming Platforms

Epic Games Store is often seen as a competitor to Steam. When the latter announced their position against blockchain gaming, Epic’s CEO made sure the world knew they had a different stance on GameFi.

Epic games has a partnership with Blankos Block Party, an open-world multiplayer NFT game which recently launched on the Epic games store. Epic also showed interest in one of Gala games’ projects. Grit, which is currently in development, will also be featured in the Epic games store.

ESports Teams

Competition is what makes games exciting and eSports teams bring that competitive fire to gaming ecosystems. ESports teams like Fnatic, Navi, Team Liquid, and others are household names in the Web2 gaming scene, and now these brands have also partnered with Web3 game Guild of Guardians.

Each team becomes playable characters within Guild of Guardian’s ecosystem.

Talent Agencies Move Into Web3

Influencers, content creators, and streamers play a key role in the gaming ecosystem as well. With the growing presence of blockchain games, talent management agencies are looking to take advantage of the growing Web3 market.

Tier One, one of Asia’s premier Esports entertainment and talent management organizations, is looking to do just that as they venture into the world of Web3.

“The main value we think we will bring in Web3 is our ability to generate and bring traffic through viewership and customer conversion,” Adam Vinluan, Tier One VP of Crypto, told BSCNews. “We want to be able to provide the marketing machinery that we have in Web 2 to bring traffic to the existing and upcoming projects in the Web3 space.”

Game Publishers Also Look at GameFi

Though blockchain gaming disrupts the business model of traditional game publishers, many don’t want to be left behind as the Web3 GameFi trend continues gaining momentum.

Bandai Namco, creators of game titles like Dragon Ball, Monster Rancher, and Digimon, announced it will build its own metaverse with a budget of $130 million. Square Enix, creators of the Final Fantasy and Kingdom Hearts franchisesc released and sold out its NFT trading cards in Japan last year. Two other gaming giants, Ubisoft and Electronic Arts, are exploring blockchain technology as well.