The crypto ecosystem has spent over a decade proving it can disrupt the status quo as crypto and blockchain technologies like cryptocurrencies, nonfungible tokens (NFTs), and blockchain-based games go head-to-head against their mainstream counterparts.
While Bitcoin (BTC) has managed to shoulder its way closer to mainstream adoption, the same cannot be said for other crypto subsectors. In the gaming world, blockchain games were afforded hype and passion similar to their mainstream competitors over the years.
However, challenging the status quo of an established industry is no easy feat. As a result, the blockchain gaming industry is tasked with delivering everything mainstream games offer, exceeding gamers’ expectations with new features and experiences.
Considering the potential of crypto innovations to disrupt the mainstream, the crypto community has not given up on GameFi — the fusion of gaming and finance. Building on the foundation laid by crypto entrepreneurs, mainstream gaming veterans have taken up the challenge to deliver a highly-anticipated comeback for the blockchain gaming industry.
For over 25 years, Peter Bergstrom worked at mainstream gaming publishers, including Microsoft Game Studios and Sony Interactive Entertainment. As a producer of Age of Empires, he saw what it takes for a game to make an impact across generations. Bergstrom has now stepped into the Web3 world to help bring blockchain gaming up to par with traditional video games.
In an interview with Cointelegraph, Bergstrom dives into the factors that make or break a game title. He shares his take on why blockchain games haven’t taken off, and what needs to be done to change that.
Cointelegraph: Despite evident setbacks over the years, both gamers and capital investors continue to bet big on the success of blockchain gaming and the GameFi ecosystem. Looking back and comparing it to the traditional gaming industry, what do you think is missing? Is there a need for rebuilding the ecosystem from scratch, or can we build on the existing winning formula known to the gaming industry for decades?
Peter Bergstrom: The traditional game business has had decades to invent and fine-tune what players find exciting:
- A compelling challenge and conflict
- The balance between player strategy and how to deal with chance events
- Compelling themes and story
- Rewards that are not just money based
The GameFi ecosystem has not had time to come close to making items 1–4 compelling or…
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