ATARI Founder and Animoca Brands Co-founder Share Optimism for the Future of Web3 Games
Summary:
Nolan Bushnell, founder of Atari, and Yat Siu of Animoca Brands discuss the future of Web3 games and their impact on ownership and monetization in virtual worlds. They highlight the potential for earning money through gameplay and the need for authenticity and financial education within the gaming community.
Nolan Bushnell, the creator of Atari and the mind behind the popular game Pong, is voicing his optimism for the future of Web3 games. He believes that these games have the potential to revolutionize virtual worlds by bringing ownership to the forefront. Speaking at the Digital Entertainment Leadership Forum in Hong Kong, Bushnell, along with Animoca Brands co-founder Yat Siu, discussed the evolution of gaming and its future. Their conversation was moderated by Sean Hung, managing partner of Chiron Group.
Yat Siu recognized Bushnell as the "grandfather of gaming" and praised Web3 games for their ability to incorporate the concept of ownership into the digital realm. According to Bushnell, Web3 games, with the help of blockchain technology, enable the transmission of ownership within virtual worlds. He is currently the Chief Knowledge Officer at Moxy, a Web3 gaming company, and began the panel by sharing a conversation he had with Siu that had a profound impact on him.
During the discussion, Siu highlighted the economic potential of Web3 games in terms of monetizing gameplay. As games become more integrated into everyday life, Siu believes that players can now earn money through their engagement with these games. He pointed out the shift from traditional "player versus environment" gameplay to multiplayer ecosystems like Minecraft and Roblox, where players interact with one another. Siu emphasized that players have not been adequately compensated for their contributions to these games.
When asked about the most promising aspect of Web3 games, Bushnell emphasized the importance of "KYC (Know Your Customer)" and the immutability of blockchain in ensuring the authenticity of players in online games. He also predicted that games would soon become an integral part of education, as students learn best through storytelling and simulations.
While Web3 games have numerous benefits, Siu acknowledged some of the challenges associated with the rise of blockchain gaming. He noted that when capitalism is introduced into any system, including games, issues can arise. The financialization of games has led to problems for both game studios and players, resulting in toxicity in play-to-earn games like Axie Infinity. However, Siu believes that this capitalist element can also provide young gamers with a financial education, ultimately making the world a safer place if people become more financially literate due to Web3 gaming.
In summary, Nolan Bushnell and Yat Siu expressed their optimism for the future of Web3 games and their potential to bring ownership and economic opportunities to virtual worlds. They also highlighted the challenges and benefits associated with blockchain gaming, emphasizing the need for authenticity and financial literacy within the gaming community.
Published At
8/25/2023 5:55:28 AM
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