NFT games have superiority over ‘money in, no money out’ games: Urvit Goel from Polygon
Urvit Goel, Polygon’s VP of Global Business Development for Games, believes that games that integrate immutable tokens (NFTs) have an inherent advantage over games that don’t allow users to sell their in-game items.
Goel spoke candidly with Cointelegraph in Seoul last week about Polygon’s (MATIC) effort to help NFT Games proliferate, and why game publishers like Neowiz and Nexon in South Korea are diving into space.
One of the main arguments Goel makes is that the traditional business model in which NFT Games compete may be inherently weaker. In traditional games, users often buy in-game items for real money, but cannot sell these items to reclaim any dollar value.
However, with most games in the game finance (GameFi) space, users can purchase items as non-redeemable tokens and sell them when they’re done playing the game. Goel referred to the traditional model as “no money in, no money out,” .
“We just want to give users the ability to own the content they’re buying. And if they choose to sell it, great if they choose to keep it, great […] But even if you get a penny back out, it’s better than nothing, right?”
He said he felt clear signals that traditional game publishers were preparing to make big moves to GameFi. In June, it announced it would be putting a version of its flagship title on the chain as MapleStory N, according to mmorpg, a gaming news outlet.
Polygon has also entered into a partnership with South Korean Neowiz to put new and existing titles on the chain.
He pointed out that the entry of such large companies into the industry had “a bit of a domino effect” to “show that they are still innovative”. Goel implied that bosses of big firms entering the blockchain space must rely heavily on technology, otherwise they wouldn’t put their premium games for GameFi.
“These developers don’t have to come on blockchain to have successful businesses. They’re already generating hundreds of millions, if not billions of dollars of revenue in traditional web teaming.”
Goel’s ideas on gaming and blockchain are in line with Anthony Yoon of ROK Capital, who told Cointelegraph that GameFi and crypto are a “natural fit” for publishers.
Part of Goel’s confidence in the bright future for NFT gaming and GameFi comes from the buzz in the communities. While he says he doesn’t have conclusive data to support his opinion, he believes his millions of followers are excited about new gaming products being brought to his channel.
“So to me, that data speaks a lot louder than an article written by a journalist about why ‘X’ NFT’s will be good.”