Immutable’s Michael Powell predicts 3-5 “massive hits” in 2024
As the year draws to an end, we’re asking some of the key members of the blockchain gaming sector what they thought about what happened in 2023, and what they expect in 2024. You can check out all our interviews in this series here.
Michael Powell is the head of product marketing at gaming platform Immutable.
What was the most significant news of 2023?
Immutable had several big announcements in 2023. For starters, there was our partnership with Polygon Labs to build a dedicated gaming blockchain using zero-knowledge technology. This new EVM-compatible ZK-rollup platform, or zkEVM, will accelerate decentralized game development and bring web3 a step closer to mass adoption.
Second, Immutable also teamed up with Amazon Web Services in order to leverage their infrastructure services, such as Amazon EventBridge, and form a commercial partnership with AWS to help games leverage blockchain technology. AWS and Immutable are working closely together to shape the future of web3 gaming.
Lastly, Immutable has partnered with Ubisoft, a leading video game creator and publisher, to create a new gaming experience that will further unlock the potential of web3. With this partnership, Immutable continues in its ambition to bring digital ownership to players, while Ubisoft pursues its exploration of decentralization through its Strategic Innovation Lab.
How did the focus of your business change this year?
Over the past year, Immutable’s focus has shifted to building an EVM-compatible blockchain designed specifically for games and an ecosystem around it that will help games thrive. While our original rollup, Immutable X, is still actively maintained and well-resourced, the team has been hard at work ensuring Immutable zkEVM features the most cutting-edge technology to enable the next evolution of the player experience.
This strategic focus has allowed us to form partnerships with some of the biggest companies in the world and sign over 100 games to build on our new chain.
What do you predict will be the most important trends in 2024?
Over the last few years, web3 games received around $15 billion in funding, and many of the titles funded will launch in 2024. Immutable alone has more than 20 high-quality AAA titles going live on its platform in the next six months.
We predict that roughly 3-5 of these games will be poised to become massive hits. The gaming industry’s evolution and development also depend on breakout hits, so it’s likely we’ll see one massively popular title that will generate more volume than all other web3 games combined.
This will be aided by the launch of Immutable zkEVM in January, alongside numerous structural upgrades, which will also massively contribute to and catalyze the “web3 gaming boom” we believe is coming in 2024. Soon, web3 gaming will become synonymous with gaming.
What was your favourite blockchain game of the year?
Gods Unchained, of course! NFT trading card game Gods Unchained has weathered the bear market better than any other game in the space. The reason is that the game was actually created with the intent of offering compelling and engaging gameplay above all else – not simply catering to financial speculation.
What’s your New Year’s resolution and what resolution would you enforce on the industry?
To make it as simple as possible for developers to begin building web3 mechanics into their titles, as well as giving them the tools to extend that simplicity into how players interact with blockchain games. We resolve to do this by continuing to evolve and enhance the tools we provide, as well as by making the most powerful partnerships in the industry.