Madeira Blockchain Conference Discusses Challenges and Opportunities of Blockchain in Gaming Industry
Summary:
The second Madeira Blockchain conference discussed the incorporation of blockchain technology into gaming. Web3 game development studio, Redcatpig, faces drawbacks in assimilating the technology, as explained by CEO, Marco Bettencourt. Meanwhile, Los Angeles-based firm, VEU, also encountered backlash for adding blockchain elements. Nevertheless, blockchain continues to be integrated into the Portuguese gaming landscape via eGames Lab, comprising 22 public and private entities. Pedro Dominguinhos, president of a national recovery plan in Portugal, outlined an agenda for blockchain application.
In the second Madeira Blockchain meeting that took place from Nov. 30 to Dec. 1, discussions explored the progression of Web3 in the region and how the Portuguese islands are attracting new tech startups to enhance their digital economy. A roundtable discussion at the conference addressed the hurdles of incorporating blockchain technology into gaming, whether from developers, gamers, or publishers.
Web3 game development studio Redcatpig acknowledged the difficulties in assimilating blockchain into their operations. CEO Marco Bettencourt highlighted the challenge of persuading the internal team about the significant advantages that blockchain can offer gamers and gaming enhancement. The team at Redcatpig has been working on solutions for blockchain gaming. The studio's first blockchain-based game, HoverShock, set to launch in 2024, will offer nonfungible token (NFT)-based skins and drones which could be traded in-game and purchased with either fiat or digital currencies.
Despite their focused work on blockchain incorporation, the studio has steered clear of synonymous buzzwords. Bettencourt expressed that players need only understand the ownership aspect of their purchases, with the technical terms and technology itself remaining in the background.
Another company, Los Angeles-based VEU, faced negative reactions for incorporating blockchain into its developments. Specializing in AI-powered solutions for virtual world navigation, the community response to the introduction of blockchain was less than favorable. VEU's Chief Product Officer, Nuno Rivotti, emphasized that the key to industry acceptance of this new technology lies in its unobtrusive integration into the end product.
Despite such backlash, game developers continue to integrate blockchain, particularly in Portugal, where it is emerging as a crucial innovation in game development and government investment strategies. This is evident via the eGames Lab, a consortium of 22 entities seeking to propel the Portuguese video game industry onto the global stage.
Pedro Dominguinhos, the president of the National Monitoring Commission for the Recovery and Resilience Plan in Portugal, highlighted that the Recovery and Resilience Plan includes a specific agenda for blockchain, with aspects such as training, research and development, software production, and marketing.
Published At
12/6/2023 8:00:00 PM
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