Blockchain gaming has experienced cyclical sentiment, notably during the peaks of CryptoKitties in 2017 and Axie Infinity in 2018. Despite current skepticism about its decline, Bitkraft Ventures partners maintain optimism, asserting that gaming will substantially grow in the coming years. Following the downturn of play-to-earn models in early 2022, many game studios shifted to prioritize gameplay over financialization. However, the initially promised interoperability of in-game items and NFTs has failed to materialize as hype around the metaverse waned in 2023. Carlos Pereira from Bitkraft suggests that future successes in crypto gaming will embrace the creator economy, cosmetic items, and social elements, alongside hybrid models that incorporate financial aspects. Innovative approaches like “risk-to-earn” games, exemplified by Loot Labs' mystery NFT loot boxes, are gaining traction. This ongoing evolution highlights the need for a balance between gameplay and economic incentives in the crypto gaming sector, as it seeks to establish a sustainable path forward.

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