The metaverse is inevitable.
It’s pretty obvious to content creators, especially those who have contributed content on Web 2 platforms, that ownership of content matters. Metaverse isn’t just a virtual world, it’s about true digital asset ownership. It’s about the transition from you creating content on social platforms owned by Web 2 giants and not getting anything in return to truly owning the content you create.
I don’t think there’s any turning back once people realise how much value they were creating for these giants and they can take control back with the help of blockchain technology.
At Animoca, our thesis has been to reward gamers and players for the time and effort they put in playing games and helping these games grow. In traditional games, players contribute time and effort to play but get nothing in return. They can’t resell gaming assets they spent so much time acquiring nor take these assets into other games. What’s more, all that effort might vanish if one’s account got suspended or if the game developers decide to shut down the game.
Blockchain is enabling gamers to own the assets and freely trade them in an open market.
Play-to-earn is still at its infancy and more can be done to bring them further into the mainstream. For instance, blockchain games should focus on being more play-and-earn instead of just play-to-earn. It’s also important for more developers to enter the space and ensure that games are fun to play above all else.
The Web 3 space is still growing and a lot of things are still at its experimental stage, so the key is to “fail fast and learn faster.” That’s why at ARC, I see a lot of potential in creating a community where creators and artists from different industries can co-create. We are all here to learn from each other and I can’t wait to collaborate with my fellow community members!