Barriers and “bag bias” vs authentic crypto game content

The Polemos team is back from Salt Lake City, where we participated in panel discussions, product demos, and hosted a gaming lounge at Permissionless III alongside co-sponsors Illuvium and Futureverse. We also announced an exciting new partnership with Buff, a company rewarding players for simply doing what they love. Our team returns not only with excitement but also with valuable insights from the many leaders in crypto and crypto gaming—our own team members among them—gathered at the conference.

If you missed Permissionless III, don’t miss this frank, intimate discussion featuring our co-founder Kevin O’Hara, Illuvium’s Kieran Warwick, Arcade2Earn’s Josh “JP” Poole, and Youtuber Miguel Muñoz of Dollar Cost Crypto. The panel dissected the multifaceted barriers in crypto gaming and different ways of addressing them, including one of the most contentious: unrealistic hype driven by financially invested community members.

Kieran didn’t hold back when describing the issue of “bag holders” hyping games that simply aren’t ready.

“I think one of the things that bothers mainstream players the most is… bag holders for a •••• game… It’s a terrible experience, it’s not even close to ready, and you’ve got them in the YouTube comments saying, ‘Oh, this is the greatest game I’ve ever seen!”

Kieran described the frustration felt by mainstream gamers who see through exaggerated hype: “Well, clearly you’re biased, you’ve got this bag bias.”

He emphasized how artificial this type of commentary feels to experienced gamers who see through it, advocating instead for honesty and letting content creators speak their minds without interference.

Other key barriers discussed included:

• Education barriers: These included the perception of pay-to-win mechanics, fears of exploitative microtransactions, and the steep learning curve for onboarding players who have never used a wallet before.

• Access to assets: Kieran noted the challenge for new players in acquiring valuable assets without being early insiders, and highlighted the role of Polemos in addressing this barrier.

• Stigma from pro players: There is a stigma among traditional pro esports players towards web3 games, which adds resistance in attracting top-tier players and content creators.

The panel also explored solutions that work in tandem, from leveraging esports partnerships that normalize blockchain gaming, to guiding communities towards more genuine engagement. The full discussion, How to Onboard the Next Wave of Crypto Gamers, is a nuanced conversation on how to make Web3 gaming more accessible and appealing.

At our booth, we demoed our NFT lending technology, showcasing how players can engage with gaming assets more flexibly, and we received insightful questions from attendees throughout the event.

We also announced our partnership with Buff—a gaming company that rewards players for simply doing what they love. Buff’s loyalty program makes it easy for players to earn while they game, and we’re excited to bring this energy to our community. This partnership is all about creating new ways for players to find value in gaming. By joining forces, we’re expanding how players can participate in and benefit from gaming culture. It’s a step forward for both Polemos and for everyone who loves this space.

At Permissionless III, we also explored the future of blockchain gaming through the lens of interoperability, featuring Futureverse as a prime example. Kevin O’Hara (Polemos Co-founder) and Carl Wilgenbus (Polemos CFO/CEO) sat down with Futureverse co-founder Aaron McDonald. They discussed the vision behind creating a cohesive digital universe, where assets and experiences from different games and metaverses interconnect seamlessly.

The video, What kind of person runs a crypto company?, provides a look at how Futureverse is working towards building bridges between virtual worlds. It’s about more than just technology; it’s about enabling collaborative ecosystems that benefit players and developers alike. We believe that the integration of platforms like Futureverse is key to making Web3 gaming truly mainstream and accessible.

We’re also excited to introduce Lyka, our newest content producer. She’s already hit the ground running with two new videos that explore key elements of the Polemos ecosystem and blockchain gaming. Lyka brings a fresh perspective and creative energy to our channels, starting off with a video covering the game Off The Grid, now in early access.

In September, we discussed Off The Grid’s potential after Caveman had the chance to preview a private build of the game. Among web3 games, Off The Grid is particularly notable due to its development for Playstation and Xbox, as well as its distinctly blockchain-optional approach.

In Lyka’s beginner tutorial, she explains the unique gameplay style of an extraction battle royale. Players survive by looting, extracting valuable items called hexes, and working with teammates—all while battling other squads. What’s an extraction battle royale? | beginner’s tutorial to Off the grid provides a thorough breakdown of the mechanics, such as the zoning system, auto respawn features, and cyberlimbs, making the video perfect for both new players and those looking to up their skills.

Lyka also explored Blocklords, a player-driven medieval strategy game. Lyka walks viewers through the relaxing, yet engaging aspects of farming, building, and managing a kingdom—all at a slower pace compared to traditional fast-paced games. Farm & Chill | What is Blocklords all about?

As we look at the broader crypto market, the price of Bitcoin has risen recently, climbing back to its late July value, before both BTC and ETH’s significant price drops in early August. The price drops, which affected ETH more dramatically than Bitcoin, were largely attributed to macroeconomic factors, including developments in Asian markets.

While both are subject to similar macroeconomic factors, ETH has yet to recover the way Bitcoin has. This disparity could point to Bitcoin increasingly being seen as a safe-haven asset, similar to digital gold, while ETH’s value continues to reflect its utility and the broader crypto market sentiment. Impressions of cryptocurrency influence both interest and aversion when it comes to crypto gaming.

The barrier factors for crypto gaming outlined by industry leaders are not set in stone. Some factors like the impressions of game streamers, gamers’ willingness to purchase blockchain assets, all the way down to the likelihood that a new player has owned a crypto wallet, are all subject to fluctuate based on crypto market conditions. We’ll be keeping an eye on the broader market, including whether ETH regains momentum and what factors might contribute to its recovery.

Thanks for being part of this journey with us—there’s a lot more ahead, and we’re thrilled to share it with you.