Why gamers hate NFT's and what we can do to fix that

Transcript

foreign hello uh hi everyone my name is Philip and today I'm going to give a talk on uh White Gamer's head nfts and what we can do about it uh so yeah just to kind of get a read of the audience uh like hands up here who's a who's a gamer any any game developers in uh any nft collectors in any any Gamers who passionately hate nfts okay we got a couple right right right so hopefully

after the presentation I'll have you uh converted so uh yeah uh yeah to give you my background uh I'm a I'm a developer I work for a game Shooters currently working on a on a web tree game uh called Resurgence um yeah I'm based in based in Ireland um so yeah this is kind of a good uh meme to kind of show the current sentiment of uh nfts uh for for gamers uh what inspired you to make your nft project uh hello I like money uh yeah so we could probably have a lot of work to do to try and overcome that sort of negative sentiment uh and uh I'll discuss the kind of points on that later in the topic but first I probably want to just go over where the market is currently uh I know the guy from dap radar probably covered a lot of this

already but uh no harm to kind of rhyme at home and cover the same points again uh so yeah uh where we are now in the the gaming industry uh so webtree gaming Studios raised uh about 4.5 billion in 2022 so that that was approximately 62 of all funds raised in the crypto space uh obviously it's very high uh so it's a large part of the of the crypto industry as a whole um D5 took a bit of a hit last year for for obvious reasons but uh 62 is still quite a lot uh and then yeah over 70 of blockchain use is gaming uh that's by transactions and uh um also as as the guy from Dapper radar mentioned it's a lot of bots so that's another problem we have to overcome and

that could be a separate talk in itself for how would we how do we stop Bots from uh exploiting the system um yeah yeah and the transaction got the growth rate is huge so 90 growth rate and transactions which is which is massive and if you're if you're able to project that growth rate out over a couple of years uh you could see really um a huge huge growth in the industry so uh yeah um so yeah uh so why why do Gamers have sort of resistance to nfts so kind of a couple of points um it's like a pay to win it's like a it's a pattern that people don't like uh that's what they see as nfts are seeing as that you have to have enough money to have this nft to have a particular sword or weapon in a

game that allows you to play the game um yeah it's a perceived as an exploitation of users um people maybe have already paid for a game they don't want to pay for extra assets and stuff in the game uh so yeah they just they just really don't like that idea uh uh and also yeah the the early web tree games uh they've just lacked a bit of Quality Companies raised money they were under pressure to release a game quick and be first to Market but a good game just takes multiple years to build and the games that were rushed out just they just didn't have the the playability that they weren't they weren't enjoyable so that's kind of the three three points on that um so yeah how would we how would we overcome this resistance so there's kind of Four Points uh I've come up with uh

that uh we might help this situation uh so number one is uh like naming um nft is just a terrible name uh crypto we're probably good at naming things badly uh a digital collectible just sounds a lot better it's a lot more intuitive to people um also like good good ux at the moment ux is poor enough uh people who are not native to crypto find struggle with wallets and and things like that so uh it's just uh it's just something that we really need to work on and then a fair play so a kind of free to play over a pay to win uh and then bringing that utility so what what's the benefit to the users of having this nft uh we really need to show where we can we

bring that utility uh yeah so yeah just to go over the points individually uh so the naming the the term nft kind of lacks appeal and it fails to capture the kind of essence of like what a digital collectible is reddit is a good example of a rebranding they had their an nft collection but they call it digital Collectibles and it was very successful they had I think like onboarded about 10 million users and uh very good feedback and very little resistance uh from the community um uh yeah and yeah just overall like digital Collectibles it's just a lot more it's a lot more intuitive and relatable so uh so yeah and uh next point is just good ux uh so yeah uh seamless onboarding experience

um I think like someone like crypto and generally probably has a ux problem uh so maybe a user has to go to an exchange buy a token uh put in their credit card details maybe do kyc with put in their passport uh wait three or four days and then bridge that token onto another Network and wait another few hours for that transaction to settle if that's going to be the onboarding experience the game you're not going to have a lot of players so that's probably the main thing that really needs to be worked on uh other things like gasless transactions or rather than having to pay money to participate in the game you give like a certain amount of gas transactions free maybe the first three or four transactions just to get people over the line and reduce that barrier to entry uh another option then is like

lazy minting so if you have an asset in a game that maybe in nft you just like you store that in a database this is owned by a particular user and only at a certain point where the user wants to Mint that back out uh do they have to go through the process of connecting their wallet so they want to use it somewhere else or they want to sell it uh and that just kind of it pushes the problem of uh integrating the wallet or connecting the wallet down the line for the user so uh uh yeah and in fair play uh so I think this is like a key one just uh players just want like kind of skills based progression rather than like having to pay extra money to get like up to the next level or speed uh uh upgrading your your ability in-game

um yeah and then just like pay it away and it just excludes an alienate player so players that don't have the resources aren't going to participate in the game so you're already just limiting uh the number of users uh and um and then yeah just enhances the long-term engagement so players are leveling up based on their skill and their effort uh they just enjoy the game a lot more and you'll you'll end up um you'll end up with a lot more users uh and then yeah utility so a lot of a lot of nft road maps uh just are a lot of fraud uh so uh it's uh it's something that probably it's probably a problem with the industry and people have been probably let down by the promise of uh a lot of a lot of utility that never materialized uh but yeah there is there

is things you can do and I mean what you can offer is utility is endless there's any number of things you can do but uh just like some some things you could do early access to a game or to a beta version of a game uh access to swag and merchandise uh exclusive access to in-person events uh and then another one is just like bringing your nft into another game so if you have like a skin or an asset you want to transfer to another game so you just have to do it like an integration with another game that's probably a really useful one where you can you know you use your user nft across multiple games uh yeah and then just another key one just listening to players is probably the most important thing um engage with users on on social media platforms Discord Etc uh listen to their

feedback um uh uh involved users in decision making so polls uh if you're if you're changing the the mechanics of the game or the nft just just involve them at every step uh and the one thing I've seen a lot is like um so with new games versus existing games so the the the the studios that got the most uh heat over bringing nfts were people who tried to put nfts into an existing game that already had a community and they got huge backlash and uh it's tried a number of times and then they had to roll back quickly because uh people just didn't like the idea of putting nfts into a game that was already there whereas if you have a new game and it's kind of web tree from the start it's a lot more uh except or accepting from the community

because they kind of know what they're getting into from the very start so I think that's like an important Point um just to just to be very careful if you're trying to add nfts into a game with a community or a game franchise um yeah so just my uh closing thoughts yeah the games are coming so the Studios have raised a ton of money uh it takes a long time to build them so maybe the next two or three years you'll see a lot of AAA games uh it has to be game first and crypto second and it has the gaming has the potential to onboard like the next uh 100 million uh users uh and if we can if we can give really good experiences to users we can we can help achieve that uh yeah so let's end the presentation thank you very much I'll here to answer any

questions if you like [Applause]