How do you value a company at $5 billion when it’s a game with 2,000 concurrent players? The math here, and in many of these games, simply doesn’t add up, despite all their stated success. I simply do not trust these stated market caps or valuations of really any blockchain games at the moment. Decentraland, which is supposed to have the highest-valued token currency with MANA, only has about 2,000 users playing at any given time, which is outside Steam’s top 300 most-played games. While the blockchain games market did reach a few billion in value in 2021, it’s still a small fraction of the industry’s total, and the valuation of many blockchain games seems questionable, and entirely reliant on a wildly speculative and fluctuating token economy. Again, I do not see existing franchises, over the next five years, suddenly making their next sequels and expansions on the blockchain, so that assumes a massive expansion of original blockchain games. And if you cannot infuse NFTs into current titles, that leaves blockchain games that are built from the ground up.
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