Refractal Games CEO regrets releasing NFT-focused game

The non-fungible token (NFT) gaming sector has recently grown in popularity. However, not all NFT games have been a resounding success. The CEO of Refractal Games, Scott Pitman, recently complained about the poor performance of the company’s NFT-focused game, Smokin’ Tokenz.

Refractal Games CEO decries poor performance of the NFT-focused game

Refractal Games recently released an NFT game known as Smokin’ Tokenz. The latter is a PVP shooter game that has also integrated NFTs. However, according to Pitman, this game has performed poorly despite being convinced earlier by an NFT enthusiast about the potential of NFTs.

During earlier discussions with an NFT enthusiast, Pitman said he was convinced that integrating NFTs would boost the company’s revenues. However, he decried that consumers were not convinced about the potential of NFTs and added that gamers were not interested in these digital assets.

On the other hand, the developers at Refractal Games who worked on Smokin Tokenz noted signs that consumers would not receive the game well. Dylan Singleton, a Refractal Games employee who worked on the game for two years, noted that there were indications that the game would not succeed because the concept was “awful” and “fraudulent at worst.”

“Video games are actually fine, and I somehow don’t think the future of finance is in auctioning digital tokens to other weirdos,” Singleton added.

Poor NFT adoption by traditional games

The blockchain gaming sector has exploded in popularity over the past year. Venture capitalists have poured millions, if not billions, of dollars worth of funding into the NFT gaming sector. Despite the success and popularity, the traditional gaming sector is yet to be convinced that blockchain and NFTs are the future of video games.

Last year, the crypto industry was rocked by one of the worst bear markets that saw different digital asset prices drop drastically. The bear market spread to the Web3 sector, with the floor prices of NFTs and the adoption of blockchain games dropping significantly.

The close association between the crypto market and the blockchain gaming space is why traditional gamers are skeptical about the sector. Gamers and gaming developers believe that the volatility of digital assets exposed them to risky ventures despite the promises of earning passive income and increased revenues.

On the other hand, game developers have also argued that the play-to-earn concept erodes the fun in games and makes the whole ecosystem about making money. These arguments have led to some video gaming companies denouncing the concept of NFTs and threatening NFT companies seeking to bring the NFT concept into their platforms.

However, some gaming studios have been open to digital assets. The CEO of Square Enix said that the company would double down on its blockchain and NFT plans in 2023. Despite backlash from the community, Square Enix and Ubisoft are some of the video gaming studios exploring NFTs.