Lonley Wolf

In the crypto gaming vision, play becomes the act of seeking “valuable” tokens, and extending the game into a 24/7 market that pressures players to constantly seek profit. This marketisation of all activity is the very thing that has turned so many off of crypto gaming, and crypto more broadly.

The notion of retaining value is also framed in terms of developers and audiences being better remunerated for making and playing games. On game-distribution platforms such as Phantasma, developers deposit a given amount of the platform’s cryptocurrency in exchange for having their game hosted.

But it’s difficult to see how this differs from the current model, in which distributors charge a flat fee. In fact, hosting in exchange for cryptocurrency is arguably more problematic when you consider that token prices are subject to volatility.

It’s common for NFTs and governance tokens to double as speculative assets that can be bought and sold across crypto or NFT exchanges. But it’s questionable whether they have any fundamental value. Many gaming tokens are at best volatile and at worst worthless.

Yet proponents of crypto gaming try to sell it as the future. Take crypto venture capitalist and Reddit cofounder Alexis Ohanian, who says crypto gaming will allow players to “actually earn value” through accruing assets that have some value in traditional or “fiat” money.

In essence, he says people would no longer need to “waste time” gaming for leisure. Crypto gaming advocates often don’t understand why one might play games for no reason other than to have fun or unwind (or myriad other motivations).