Thomas Geyer is exploring how to integrate novel NFT-based revenue streams into the gaming industry. Geyer is the project lead for Chain.Game, an in-browser RPG that began development during the Neo Frontier Launchpad. The Chain.Game team showcased their product during the demo week hosted by Neo Global Development. In episode 60 of the Neo News Today podcast, Geyer discusses the challenges and opportunities of integrating NFTs into video games. He says:
NFTs, with their characteristics, will empower the user in the future of games. They will offer new revenue streams and maybe are able to substitute current revenue streams.
Geyer is a graduate student in the IT school at the Fachhochschule Technikum Wien in Vienna, Austria. His research primarily focuses on NFTs in the gaming industry. He notes: “I’m looking into detail, how will NFTs change how games will offer value propositions to customers? And, how do customers change? How do their behaviors change? How do their expectations change towards what they expect from a game?”
Geyer states there are currently two predominant game models: free to play and pay to play. These two models have been the go-to revenue models for PC, console, mobile, and web-based gaming for the past couple of decades.
However, another model is beginning to emerge: play to earn. For example, Axie Infinity is a Pokémon-inspired game where users earn tokens through gameplay and contributing to the ecosystem. According to Geyer, these games create other monetization methods but have been more or less ignored by game developers relying on old business models. He said:
“Trading in-game currencies or in-game items for real money are restricted because they don’t like it. They have the feeling that it destroys the content of the game because people progress fast. And, this will lower their revenue stream in subscriptions.”
Looking forward, Geyer intends to answer how NFTs can impact the revenue models for MMORPG-style games. He is expecting to complete his thesis as early as Sep. 2021.
The full podcast can be found at the link below: