Sky Art Studio Thinks It's The Discoverer Of Blockchain Games

The current drop in cryptocurrency is likely to make some game developers panicked about venturing into the industry, but Singapore studio SkyArk continues to advance. It is a Singapore-based blockchain gaming studio backed by cryptocurrency exchange Binance, and currently has over 36 people working on its upcoming project, SkyArk Chronicles.

The game is based on the concept of “play and win” games, which allow players to earn money with non-fungible NFTs (NFTs) and cryptocurrencies.

Leveraging blockchain technology, and the capabilities of a team of cryptocurrency experts, Skylark believes it can integrate blockchain technology with traditional game development to create a digital ecosystem.

Instead of using the traditional “play and win” money model that most crypto games use, Skyark's business model revolves around gameplay and win strategy allowing players to earn lucrative rewards when playing rather than just doing it for the sake of earning income.

Sky Arch founder Chris Ng said:

“Gaming companies tell the public that if they play their games, they make money, which means they don't have to work anymore. They also say they can earn $100 a day by playing the game. This is not possible.”

One reason is that the current “play and win” business model is not sustainable. Ng added that game companies that rely on this model say they don't have to work if they play their game.

Despite this, there have been many concerns from crypto game critics about whether these games operate on a "pay-to-win" model where players are strongly encouraged to cash in to advance further in the game.

Video game producer Valve, which published Dota 2, and its multi-million dollar spin, has banned the use of cryptocurrency and NFT tokens on all games available on their Steam storefront.

Not the first time for Sky arc

Sky arc studio was founded by Ng after deciding to enter the world of crypto games, after rising to the top in 2020.

He previously worked as a financial analyst before co-founding the local game company "Twelve Braves" Twelve Braves XII Braves.

The SkyArk Chronicle's Play and Win module are designed to reward players with collectibles in the form of NFT tokens, where each hero and character they collect is unique, and individually numbered. This gives value to the NFT tokens won as each hero is different.

The idea of converting heroes and in-game characters into NFT tokens came about after NJ and his team realized that the process of converting art and pre-existing game assets into these tokens was relatively simple. They can use this as a form of income, especially for artists.

a matter of encouragement

With more than 2.5 billion people playing games this year worldwide, the number of Blockchain games has increased by 71% since last year, now numbering over a thousand.

These games have also attracted more than $2.5 billion in investment, with the global gaming market itself set to be worth more than $340 billion by 2027, according to Mordor Intelligence.

However, with the recent crash of cryptocurrencies causing the value of cryptocurrencies such as Bitcoin to drop from $68,000 in 2021 to $24,500 as of August 15, the world of NFT tokens and cryptocurrencies remains extremely volatile. It is unpredictable.

Lecturer in game design and production at Temasek Polytechnic Nash Lin said:

“I feel the craze for crypto games is not driven by the design of the game itself, but rather by the extrinsic motivation of earning NFT tokens to attract players.”

Then he added:

“If the generated NFT tokens have no real value in the virtual or real world, I think this madness will soon pass.”

Although Blockchain gaming has become fertile ground for exciting innovation, the future of cryptocurrency gaming remains uncertain.

SkyArks founder, NG said:

“It's not as simple as converting everything and anything in the game into NFT tokens. You have to be creative, and create rewards where players feel motivated to work for it. Also, it is important to understand the audience, and reward the game’s players and dedicated collectors rather than treating them as customers.”