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Shi Khai Wei

GameFi airdrops are here to stay but won’t save a bad game: Execs

Blockchain gaming tokenomics may have got a bad wrap last cycle, but GameFi execs say it’s not going away anytime soon as it’s one of the key ways to build a player base.

Despite lingering resistance from some gamers over “tokenomics,” gaming studios will most likely continue to use airdrops and other incentives to attract players, according to industry executives.

“It’s a very easy way to get market share, said Kieran Warwick, founder of gaming studio Illuvium in an interview with Cointelegraph.

However, games that fail to deliver on the fun, or gameplay aspect, are still doomed to fail, said Warwick.

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‘FOMO’ once drove GameFi funding, but VCs say it’s different this time

During the last bull run, VC firms were more concerned about missing out on the hype, but they’re taking a much more measured approach this time.

Venture capital firms haphazardly piled into blockchain gaming projects during the last bull run but are taking a much more mature and sustainable approach this time, according to industry executives.

“[It was] insane,” Shi Khai Wei, founder of cryptocurrency-focused VC firm LongHash Ventures, told Cointelegraph, adding that some GameFi projects were receiving up to $100 million with only a few team members and some lofty promises.

Keiran Warwick, founder of GameFi studio Illuvium, who recently raised $12 million in VC funding, said he saw the same thing, with much of the investor fervor then driven by a fear of missing out (FOMO).

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