In this episode, of speaks with of and of Darewise to talk about the future of gaming, open metaverse and more.
Read out notes below to learn more
About Ben
- Co-Founder of which is a subsidiary of Animoca Brands.
- He worked at various positions in Ubisoft.
About Yat
- Chairman and Co-Founder of Animoca Brands.
- They acquired in 2018.
- They are early investors in , , , , and more.
Current state of gaming
- It is something that brought people together from then until now.
- Gaming is one of the largest community experiments and gatherers of any kind.
Web3 Gaming
- Web3 extends the current gaming state in which it provides gamers ownership of assets.
- The western narrative is not yet accepting the Web3 concept in traditional games because of digital capitalism.
- Majority of Americans that are under 30 years old are socialists.
- Asia is aggressive in adopting Web3 in gaming.
- Part of the barriers of entry is the cost.
- People tend to forget the business model and focus on the quality of experience.
- True ownership means having the freedom to move your assets anywhere you want without someone telling you if you can or can’t do it.
Relationship of developers and players
- Web3 changes the classic concept of shareholder capitalism to stakeholder capitalism.
- Stakeholder system will have a primary motivation of enjoying the game than getting profits.
- One of the challenges is dealing with a community of stakeholders.
- It creates an opportunity to build businesses in a fairly different way.
Dangers of linking games to real economies
- The opportunity with Web3 is to bring in people with different agendas that kind of bring in supply and demand together.
- All that Web3 gaming does is it opens up the transaction layer for the world to see.
- Every gamer has already been financialized and they just don’t know it.
- Every person who’s playing for free is actually contributing to the network effect and inducing someone on the other side to actually pay.
Web3 gaming progress
- The way that the money flows, because it’s transparent, is different.
- While we are dealing with a free market, we are also introducing financial systems to a broader community that doesn’t know anything about money.
- The reason why we see a resistance in the west is because their knowledge about money is very misunderstood since it isn’t taught in school.
- Axie Infinity is indirectly saying that volatility is part of their game which still receives criticisms.
Areas of Value
- One of the biggest areas of value in the gaming industry today is the cost of advertising and promotion which in many cases accounts for ⅔ of what a company makes..
- The chances that a gamer receives value for a game they might like to play is much higher than giving that money to Apple or Google that literally just extract and give nothing back.
Custody
- It takes time for most people to self-custody.
- Even in the state of blockchain, decentralization has to occur in many areas.
- One has to look at the leadership or team involved in a project.
- Onchain isn’t fast enough for all of the game’s actions just yet but we’re getting there.
- We need to transition players from Web2 to Web3 but it’s not going to be easy.
What to look for in games
- The team behind the project that will bring the decision making process.
- Look for the history of the team and the entities invested in it.
Overview of Life Beyond
- A new generation of MMORPG that wants to become a gaming metaverse.
- They are building a more advanced system and governance to truly embrace the metaverse experience.
- They are going to deliver a lot of new experiences in 2023 besides the Unreal Engine gameplay that they have already showcased.
Biggest challenges of Web3 Game Developers
- Sustainable game economies.
- Certainty that they wish to apply when they make a product.
- Cultural barrier.
Hiring Economists
- It is ideal to hire economists for game economies.
- Gaming will become a really interesting platform for experiments.
- Games are essentially a simulation.
- Games will probably be operated by DAOs.
What to look forward to
- It is going to be broadly a positive one because the builders and the community are still here.
- Regulations.
- Gaming will bring a lot of users into Web3.
Check out these important links
Source: https://www.reddit.com/r/NFTGames/comments/zuaik2/the_future_of_web3_gaming/
