Bankless Times talked to Can Picak, who leads Eldarune, the biggest Web3 gaming studio in Turkey, about the historical successes and the future of Web3 gaming against the backdrop of Bitcoin halving.
Mr. Picak, what is unique about the Eldarune game series?
I’d say, as far as Web3 gaming goes, we’re one of the most tech-savvy platforms on the market. We've fused captivating narratives with cutting-edge blockchain tech, creating a player-powered economic engine that's the envy of the industry. Eldarune is Turkey’s largest Web3 gaming studio with titles across a range of genres, united into a single ecosystem powered by ELDA token.
In the Eldarune ecosystem, players can use their NFT assets, like characters and items, across multiple titles. Such interoperability gives their in-game treasures lasting value. Plus, our multichain architecture means smooth transactions and wider accessibility.
It's also about maximizing the fun, and Eldarune delivers a deep, lore-rich world to explore while putting the power of the game's future in the hands of players through community governance.
Your token ELDA reached an ATH this year. What's next for the project?
Indeed, ELDA reached an all-time high this year. The momentum and visibility it brings to the project open up several strategic opportunities for expansion and enhancement. First of all, we plan to expand the gaming ecosystem – and introduce new games, features, and partnerships that leverage the ELDA token.
Building on the interoperability aspect, there could be a push towards integrating with more blockchains or enhancing the current multichain architecture. This would improve accessibility and flexibility for users across different networks.
ELDA’s success is also a great opportunity to further engage the community through governance mechanisms, feedback loops, and rewards systems that incentivize participation.
What has been a deterrent to crypto going mainstream, including as part of gaming?
Currently, I don’t see any problem with going mainstream. Hundreds of Web3 games with Web2-like quality are in the building phase. But as Web3 builders, we need to create hundreds of big Web3 games to speed up the mass adoption.
The Bitcoin halving sentiment is already complementing the bull run that is now in effect. It will also trigger massive hype in Web3 gaming, a niche that has recorded promising growth in the past year.
As a new way to onboard the next billion users into the blockchain, Web3 gaming adoption has increased by about 54.67% from the 2023 average per data from Footprint Analytics. This jump is fueled by the consistent innovation showcase from developers in the industry and the embrace of Web3 gaming by top Web3 game development studios.
Do you believe crypto will enter mainstream gaming with the current bull market?
The Web3 gaming space is still young, but with all the buzz, it's poised for a breakout. While blockchain wasn't built specifically for games, it can shine in titles with well-designed economies. Imagine a game universe with its own digital currency, just like real-world economies with inflation players understand.
This virtual world can even have marketplaces and production mechanics, mirroring our own. And for those who crave competition, there's always the thrill of the hunt (PvP) or the satisfaction of gathering resources (grinding). Web3 gaming offers a deeper layer to familiar concepts, and it's exciting to see where it goes from here.
With the bull market, confidence in the blockchain space will increase and might encourage big names like Ubisoft, Take-Two Interactive, and Konami to explore Web3 gaming alternatives. The bull cycle might also serve as a major incentive for smaller studios to get the right competition that can make them develop more engaging games overall.
While the integration between Web2 and Web3 gaming firms is already underway, the ongoing bull market, triggered in part by the halving event, might help usher in the massive embrace of Web3 games as a major trend for the next decade.
What connection do you see between the upcoming BTC halving and web3 gaming?
The upcoming Bitcoin halving could indirectly boost interest and investment in Web3 gaming by potentially increasing the overall market value of cryptocurrencies. As Bitcoin's price might rise due to the halving event, the increased market enthusiasm and capital inflow into the crypto space could lead to more funding and development in Web3 gaming projects as investors and developers seek to capitalize on the growing blockchain and gaming integration opportunities.
What is the future of web3 gaming, broadly speaking?
I’d bet on broader adoption, advanced play-to-earn models, increased interoperability of game assets, and greater community governance. This evolution will offer richer, more immersive gaming experiences, where players have significant ownership and influence over in-game assets and decisions, blending gaming with digital economies and social interaction on a level not seen in traditional gaming platforms.
Do you expect a revival of the NFT market?
On the Web3 gaming side, yes, 100%. On the PFP and art side, I’d hope for new opportunities to revive the community and collector-based NFT market.
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