Zynga Inc, the developer of hit games such as "Farmville" and "Words With Friends," has plans to venture into casual gaming apps, will launch its first blockchain-based NFT game in 2022.  FarmVille, a Facebook game that quickly gathered 10 million daily players despite objections from diehard gamers, unleashed enormous success and notoriety for Zynga in 2009.

This year, Zynga plans to expand its staff, acquire new companies, and release new games based on blockchain and NFT technology. As of now, there are about 15 employees on the new blockchain team at Zynga, but it hopes to expand this number to 70-100 by year's end.

Axios reports that Zynga's Vice President of Blockchain Gaming, Matt Wolf, says the company is currently hiring for senior positions, including a creative director and a "tokenomics designer."

A great many of today's game-to-earn play-to-earn apps look like simpler versions of the type of game that Zynga is known for. The traditional video games industry may be so averse to NFT games because of that factor. 

Through play-to-earn models and interoperability between multiple games or metaverse worlds, NFT games provide players with potential benefits, such as true asset ownership, value accrual, and token rewards. Games that use blockchain or NFT tie in-game objects to a unique ID, which can then be bought and sold in a real-world economy.

According to Drake Star, over $3.6 billion was invested in blockchain gaming in 2021, but those investments were solely from companies outside of gaming's mainstream. Zynga isn't the only company aiming to invest in blockchain technology. Last month, video game giant Take-Two Interactive (TTWO) announced that it would acquire the firm for $12.7 billion. However, the acquisition still hasn't closed.

The entry of game publishers into the crypto market has thus far been met with a mixed reaction from gamers. Ubisoft faced some criticism last year for intending to offer in-game NFTs.

Pavan A

CBW - External Analyst

INDIA