【Bitpush & Formless】ABGA Opinions: Keep Building in Bear Market; Public Chain Cooperation and Win-win

The 2022 ABGA Blockchain Gaming Summit hosted by ABGA (Asian Blockchain Gaming Alliance) recently ended successfully in Singapore. Nearly a thousand attendees gathered to discuss the new future of blockchain and the crypto space. 

Industry players unanimously agree that although the market is currently at a trough, the pace of construction and cooperation cannot be stopped. Founders, development teams, and projects should focus on developing, both technically and strategically.

Jenny Zhang, BD lead of Bybit NFT said at the Summit: "yes, we are in a bear market. I think it is good timing for you to grow. You may want to polish your product more. For Bybit NFT, we are growing very fast. Now we have a strong and growing community of 600,000 and growing very fast.”

Bybit NFT is adding more new features to its product line, and its new GrabPic allows users to find very high-potential NFTs at very low prices and is newbie friendly. 

Jenny Zhang added: "You only need an ID and password to buy your first NFT, you don't need to have a deep understanding of decentralized wallets".

Cora, head of Polygon China, said at the conference: "I don't think there is a hard competition between public chains, because for Polygon, we are Layer 2, and our vision and goal is to bring the world to Ethereum. Others Layer 1 projects, such as security-type public chains, storage-type public chains like IPFS, we are very happy to cooperate with them. There are different types of public chains in this industry, and Polygon cooperates with many consumer brands, such as Starbucks, Prada, Mercedes Mercedes-Benz. For other brands like Flow, collaborating more with sports like superstars. Avalanche previously really focus on DeFi. For us, our goal is to be open to collaboration with other public chains.”

The Polygon team recently announced that there are currently over 53,000 decentralized applications (dApps) deployed on Polygon. Additionally, fintech unicorn Nubank is partnering with Polygon to launch its crypto token.

Cora said: “In a bear market, what we want to do is try to build more, help more developers, help them build projects (like the EVM chain), how can we give them some expertise to help them grow, and we would like to collaborate with more Web 2 enterprise and consumer brand collaborations. Polygon is very open to different types of collaborations".

Despite the crypto market downturn, crypto gaming projects and metaverse-related platforms are still hot in terms of adoption and investment. A report published by DappRadar shows that over $4 billion has already been invested in crypto games, metaverses, and incubators in 2022.

Marvin, the chief scientist of iPolloverse, talked about the vision of the metaverse at the conference. 

He believes that many traditional games are 5 v 5 and 10 v 10 fighting games, but the metaverse is different. The metaverse maybe 10,000 or even millions of virtual avatars interacting together. 

He said: "In my opinion, the metaverse is a bigger scene where people can work and interact together. NFTs are everywhere in the metaverse, and each avatar's equipment can be transferred and traded as NFT, and even C2C/C2B, NFT becomes part of the metaverse economy, and the future Taobao and Amazon will be built in the metaverse.”

Klaytn is an open-source Layer 1 public blockchain focused on the metaverse and games, officially launched in June 2019, dedicated to the metaverse, GameFi, and the creator economy. 

Yoshi Shin, head of its game cooperation, said at the ABGA conference that blockchain games have to be fun to play in order for the game to last.

In Web2, items are tied into the game economy and cannot be used independently of the game, but in blockchain, it is technically possible that an item in game A can be used in game B.

Yoshi Shin said: "What we really want to see is a game studio allowing their items to be used in multiple games. Personally, games have to be fun to last because platforms don't want services to last for months and then disappear, so we're looking for fun games, and secondly, we're looking for projects that are serious and realistic with use of blockchain.

By Mary Liu

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