Minecraft, GTA may change their tune on blockchain yet: GameFi execs

While several mainstream game studios have taken a noticeable step back integrating blockchain tech, three blockchain gaming executives say it’s only a matter of time before they change their tune. 

In July last year, Minecraft developer Mojang Studios

“GTA V became the most profitable entertainment product of all time, and it’s no secret that quite a significant portion of these profits result from microtransactions that contain in-game currency,” he said.

“Microsoft also introduced microtransactions in Minecraft some time ago; it’s understandable that both companies would want to retain control over their in-game economies for financial reasons,” he added.

According to a 2020 report from market research firm Junpier Research, loot boxes and other microtransaction related features will net gaming companies $20 billion by 2025.

“If anything, this can even be interpreted as both companies acknowledging that NFTs and crypto are real-world assets with value attached to them that could potentially threaten their business model,” Hulog said. 

While he does think it is “certainly a possibility” mainstream studios will embrace blockchain tech, he thinks they will “likely start with something like adding support for cryptocurrencies as a payment method for their games and services.”