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Space Summary
The Twitter space event focused on Web 3 gaming trends, highlighting the impact of evolving regulatory frameworks on play-to-earn (P2E) games. Discussions explored the historical context of earning in games through secondary markets, urging developers to stay informed and adaptable to new regulations. Blockchain's role in ensuring fair transactions and the potential influence of DAOs on gaming policies were emphasized. Community feedback emerged as a crucial component in creating compliant and player-friendly gaming environments. The event culminated in a Q&A session addressing various regulatory aspects, showcasing the transformative potential of Web 3 in shaping the gaming future.
Questions
Q: What impact might evolving regulatory frameworks have on developers and players?
A: Regulatory frameworks can influence game mechanics, player transactions, and the overall game economy.
Q: How did you start making money with games?
A: By selling game skins and keys on secondary markets.
Q: What are some challenges with current gaming regulations?
A: Many gamers engage in transactions that are not fully compliant with game terms and services.
Q: Why is blockchain technology important in gaming?
A: It ensures transparent and fair transactions between players.
Q: How can developers stay ahead of regulatory changes?
A: By actively monitoring regulatory developments and engaging with their communities for feedback.
Q: What role can DAOs play in gaming regulations?
A: DAOs can offer decentralized governance models that might influence future gaming policies.
Q: How important is community feedback in game development?
A: It's crucial; players' needs and concerns can help shape better policies and game mechanics.
Q: What are the implications of cross-border regulations?
A: They can create enforcement challenges and necessitate different strategies for global compliance.
Q: Are secondary markets in gaming a sustainable model?
A: There are legal and ethical challenges, but they offer significant opportunities for player-driven economies.
Q: What future trends might we see in the Web 3 gaming space?
A: Increased integration of blockchain and decentralized finance (DeFi) elements in games.
Highlights
Time: 00:03:35
Introduction – Kickoff of the discussion on Web 3 gaming.
Time: 00:05:16
Historical Context – Selling CSGO skins and keys for Venezuelan currency.
Time: 00:10:00
Legal Challenges – Restrictions imposed by game terms and services.
Time: 00:15:45
Blockchain's Role – How blockchain ensures transparent transactions.
Time: 00:20:30
Community Importance – Engaging community for feedback on regulations.
Time: 00:25:12
Developer Strategies – Proactive approaches to regulatory adaptation.
Time: 00:30:05
DAO Influence – Potential for decentralized governance.
Time: 00:35:46
Regulatory Impact – Effects on game development and player interactions.
Time: 00:40:25
Cross-Border Issues – Challenges with differing global regulations.
Time: 00:45:50
Future of Gaming – Predictions on blockchain and DeFi elements in games.
Time: 00:50:00
Q&A Session – Addressing audience questions on regulatory frameworks.
Time: 00:55:09
Final Thoughts – Concluding remarks on the importance of regulation in Web 3 gaming.
Key Takeaways
- The gaming industry is rapidly evolving with Web 3 integrations.
- Regulatory frameworks around play-to-earn (P2E) games are becoming crucial discussion points.
- Historical context of earning in games through secondary markets was explored.
- Legal restrictions often conflict with player-driven economies.
- Developers should be proactive in understanding and adapting to regulations.
- Blockchain technology plays a crucial role in ensuring fair transactions in gaming.
- Community feedback is essential in shaping future gaming policies.
- Regulatory changes can significantly impact game development cycles.
- Potential for decentralized autonomous organizations (DAOs) to influence gaming regulations.
- Developer-player collaboration is vital in the Web 3 gaming space.
- Cross-border regulatory differences can create unique challenges for global gaming communities.
Behind the Mic
Right. My question to you guys today is how do you see regulatory frameworks evolving around play turn games, or web three games for that matter? And what impact might this have on developers and players alike? Right. Give us your opinion on this, and, yeah, we can pick it up from there. Yeah. So I'm going to actually merge the answer of this question to the previous question because to me they are intertwined to some extent, which is, I mean, coming from my gaming background. Right. I remember I started making money with games like selling CSGO skins or selling cs go keys for my friends who wanted to buy in venezuelan currency, but they couldn't access to it. So I created like a middle point on it because we needed to use external credit cards. Right. And on the games terms and services, you're not supposed to be doing this stuff. And the same happened with other games, like league, for example. You can sell your skins, you can sell accounts. And this. I think that Twitter gaming itself. No. The developers behind these games, they'll have to create a different set of standards or infrastructure for these type of games. Right. Because these practices are very common in the gaming world. But it's up to the third parties or to the hacks that enable these things that technically are outside the scope of what the developers envision. Right. Right. And you see these things also in third world countries, where I come from, making money over Internet beating the devalutions of their own currency was very, very common. And probably web three could have had a huge impact back then. Right. But now that we're seeing it, they will probably try to regulate and ramp up more of these things. And gaming will, cracks gaming will happen, we'll have to crack many things, right? But at the end, will go through in one way or another. Right. And we've seen today a trend in a lot of regulators becoming more involved in play and earn models. True. As people are making money out of them, it becomes more like a job. Right. More of a job. They need also to tax it or like see how you actually regulate these jobs. It's definitely going to be a challenge, but it will be very interesting to see how it evolves. More and more banks are open to these sort of discussions, like yours, coming from Venezuela, using games to actually leveraging these things. And not having a regulatory framework specifically for that makes it easier or maybe even more difficult to get these currencies. But we see there's a lot of things happening on that realm as well, some authorities slash regulators trying to understand. And as technology moves forward, people will need to play catch up on these spaces. Right. Right. So that will be my answer encompassing both questions, and, yeah. Right. You guys have the answers there. So what makes this even more interesting is because I'm from Africa, I've seen that governments and the regulatory space are not in play as they should be. However, they are getting a lot in tune. Now they're playing catch up. They want to make sure they have measures in place for people to actually use Web 3 or anything that enables them run business online. So it's very interesting just listening to you say this. By the way, I have a follow up question to this. The previous speaker mentioned that regulatory frameworks are not going to be playing catch up, right? Because a lot of things are going to be breaking. But looking at the space now, we see a lot of quality games will emerge, of course. And people are looking to leverage on these things, thereby making regulatory environments a threat to some businesses. What do you suggest are the right steps or measures they can put in place, you know, to prepare because they will face challenges, especially developers will face a lot of challenges around regulation, running businesses online? Yeah, that's a great question. There you go. What comes to my mind is more of a best practice standardization, because at the end of the day, these games are being put on the blockchain, meaning that they're being abided by the rules of the chain itself. And if regulators can find a way to include or integrate these practices early on, they can facilitate the whole process, as well as have better understanding of what they're dealing with. True. True. We're saying that we could have standardization early on, right? What that could probably mean is the need for new sort of organizations that could govern this specifically, like entities or certain consortiums, I mean, who knows? Who knows? You're very much on point there. Back in the days, coming again from my background, we had organizations specifically for games like Federation of International Esports and things like that, that were governing the esports side of things. And probably we will see this happening with Web 3 or play earned games. I think that as more collaboration and more consortiums emerge, they can assimilate and create better ways to find harmony among private, public spaces or third parties. Definitely. Definitely. All right. That's fair. Thank you very much. I appreciate the range of knowledge shared here. And yes, we're going to take more questions from the audience. Let me see. Okay. I think there is a question here. Okay. What impact do you see regarding future policies for play to earn games? Will there be anything that will encompass the whole Web 3 ecosystem? Yeah, I think it's more adjacent to the gaming policies themselves. Do you want to take that up? Yeah. I think that what we've seen is more towards the decentralized aspect, where the ecosystem as a whole merges policies that are accommodating of these games. It's an inevitable part of future advances. We're definitely seeing a push towards decentralized games, and hopefully policies will be more favorable for these projects. Right. Thank you very much. Thank you for the information and all the insights shared. And what's next? What's next in the roadmap for you guys? Great. Let me share a bit of an update we have in store. We will be attending an event next month. We have a significant presence on Twitchcom Rotterdam in the states. And I myself will be at Gamescom in South Paulo next week meeting the shramnel team too. And, yeah, and also, if you want to do another stuff, you can jump to our discord server. We're doing game nights. And if not, go and join the castle of Flagwater and other game night on their discord server. Thank you, guys. Thank you for your time. And. Perfect, perfect. So by the way, Jojo and Raymo from our team are gonna be on Twitchcon there in Rotterdam, so, you know, you might wait to meet them. Thank you very much. That's it then. Thank you very. Again, as I said, join our discord, play our game nights today. And thank you very much to the speaker and everyone for being here. This has been lm. I'll see you guys next time. Thank you very much."
