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State of the Game
The innovation of web3 technologies has forced people to rethink the concept of digital ownership and value transfer. DeFi was the early implementation of web3, creating a decentralized payment structure, and the introduction of NFT has redefined digital assets. We see traditional digital businesses reliant on network effects at risk in the face of this innovation.
Gaming is a prime candidate for disruption, as modern games are heavily reliant on building communities in a virtual setting and profiting from the time and skill investment of the gamers by selling them adverts or subscriptions. With the advent of web3, we believe gamers will demand a stakeholder role instead of a pure consumer role, and game studios will be forced to innovate or face declining revenues.
Indeed, this shift in gaming is already happening, and blockchain games are seeing the number of people on their platforms skyrocketing and games are being launched at a frantic pace.