How Important Is Utility in Gaming?

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In the bull market, people got a little frenzied over NFTs. As this idea around web three gaming emerged, people forgot that underneath that you need to provide one utility and you touched on this. What we're trying to internally do is track utility. Where is the underlying utility? Because at the end of the day, cost or cost associated with the end of NFT will trend towards utility. And what we see in most gaming economies, even in web 2, is the utility provided is variable between single digits in terms of dollar amounts to maybe a couple hundred dollars. You rarely see in the web 2 space something selling for or any value created for a single type of item

Video games have grown massively over time, commanding more and more leisure time for people all around the world. As video game popularity has grown, so has the use cases and popularity of blockchain technology and these two worlds are beginning to merge more frequently with blockchain based platforms for video games. To help us unpack this nuanced subject is Justin Hulog, Chief Studio Officer at Immutable X, a non-fungible token (NFT) minting and trading platform for video game developers. Justin has a wealth of experience as a general manager, operations leader, and people strategist, and mainly focuses on the intersection of strategy and organization to solve problems. In our conversation, we talk about how Immutable X started, the different sides of the business, details about his role, and what the company provides developers. We then delve into designing sustainable in-game economies, how to potentially leverage blockchain technologies, the idea of cost versus utility, and how to sustain a game’s user base. Hear about the different taxonomies of the space, balancing the business side and the developer side, the play-to-earn era, the silver lining of the recent crypto bear market, and much more. Tune in to discover how blockchain technology could be revolutionizing the video game industry!

“Quality game loops and good game loops, so, actually good games, is something that the market wants to see now.” – @BathalaX Key Points From This Episode: