Space Summary
The “Gaming + Blockchain – A Glimpse into the Future” Twitter space hosted by WEB3M ,delved into the exciting realm of web3 and the growth of the creator economy, with a particular focus on the gaming niche. Discussions centered around content creation, valuable tokens, and community thriving in this innovative space. It emphasized the evolving landscape towards sustainable long-term value and the myriad opportunities available to creators at all levels. Challenges like token dumping trends were also addressed. The importance of community building, conversions, and impressions for creators was highlighted, along with the significant earning potential for novice creators regardless of their follower count. Throughout the discussion, strategies for enhancing community engagement, rewarding participation, and fostering audience involvement were key themes. The dynamic conversation provided valuable insights into the future of gaming and blockchain, showcasing the potential of web3 in revolutionizing user-generated content and marketing strategies.
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Questions
Q: How is value shifting towards long-term in the gaming industry?
A: There is a shift from focusing on short-term token value towards long-term value, indicating a move towards sustainable growth and enduring benefits.
Q: What opportunities does the creator economy offer in web3?
A: The creator economy in web3 presents opportunities for creators to generate valuable content, earn rewards at any level, and engage in thriving communities.
Q: How can creators earn rewards regardless of their follower count?
A: Creators have the ability to earn rewards irrespective of their follower count, providing opportunities for novice creators to benefit from their content.
Q: What metrics are crucial for determining creator rewards?
A: Metrics such as conversions and impressions play a significant role in determining creator rewards, reflecting the impact and engagement of their content.
Q: Can content creators start earning from any level of followers?
A: Yes, content creators can start earning rewards from any level of followers, enabling them to benefit from their creations regardless of their initial audience size.
Q: What strategies can encourage community engagement in the creator economy?
A: Strategies that focus on fostering community interactions, rewarding engagement, and encouraging audience participation can enhance community engagement in the creator economy.
Q: How important are conversions and impressions for content creators?
A: Conversions and impressions are crucial for content creators as they indicate the effectiveness, reach, and engagement level of their content, influencing their rewards and success.
Q: What are the challenges with token dumping in gaming projects?
A: Token dumping trends in gaming projects pose challenges such as destabilizing token value, impacting community trust, and potentially leading to undesirable market dynamics.
Highlights
Time: 00:05:11
Introduction of Experts and Excitement: Panel overview and discussion topics introduction.
Time: 00:13:44
Web3 Community Engagement: Contrasting community dynamics between Web3 and Web2.
Time: 00:25:17
Marketing Strategies in Web3: Adaptation of marketing approaches from Web2 to Web3.
Time: 00:29:19
Buzzwords Critique: Analysis of the impact of buzzwords on user perception.
Time: 00:42:22
User-Generated Content Importance: Significance of user-generated content in driving engagement.
Time: 00:54:22
Future Trends in Web3 Gaming: Predictions on the influence of AI and emerging technologies.
Time: 01:01:31
Onboarding Web2 Users: Stories and strategies for transitioning users from Web2 to Web3.
Time: 01:03:22
Prize Announcement: Giveaway details and conclusion of the discussion.
Key Takeaways
- Shift from short-term token value to long-term value in the gaming industry.
- Creator economy potential in web3 with valuable content creation.
- Community building and lasting value emphasized for creators.
- Interest in developing projects supporting the creator economy.
- Concern over token dumping trends in gaming projects.
- Importance of conversions and impressions for creators.
- Creators can earn rewards starting from any level in content creation.
- Novice creators have the potential to earn rewards regardless of follower count.
- Community engagement and rewards are central in the creator economy.
- Audience participation and engagement are encouraged in project creation.
- Opportunities for creators to earn in the gaming sector through web three.
Behind the Mic: Exploring Governance in web3 Gaming
The Role of Governance in Gaming
What role does governance play within gaming? How do you see governance as a maybe value creation method for the industry? Yeah, I mean, think governance is super important. And I think there are thousands of crypto projects being spun up, and I think the ones that are gonna stick around are going to be the ones that have strong governance. Especially in web3 gaming, things are decentralized, people need a voice, they need to be able to vote with their holdings. And I think just having some sort of structure is going to allow these gaming projects to not just pivot overnight and turn into something that’s not as productive. So I think governance keeps them on track. They can create proposals, make suggestions. So I think it’s very important for web3 gaming projects to have that solid foundation, and governance is a great part about it. Okay.
Transition from Traditional Marketing to Web3
And kind of pivoting back to your history again. Sure. How did your success in your original job and kind of the knowledge you’ve gained there, how did that help you get started in web3? Yeah, I think again, to kind of touch on the quick history of referral marketing and performance marketing, like those types of things, you really need a sound strategy. You need great data. And I think I’ve brought a lot of that performance marketing and data driven background into what we’re doing now to help, help structure, help strategize. And I think, you know, along the way, I’ve just met so many good people that have jumped in to help. you know, you realize, especially in these just emerging new markets, like it really takes a collaboration team effort to get things moving. so a lot of good people have jumped in to help. I think, yeah, just really bringing that analysis from performance marketing has helped a lot and just good strategic partners. I think those things have really set us up for where we’re going now. Nice.
Donovan’s Corporate Background and Transition
And all right. Now I think that’s a good transition over to Donovan. So Donovan, you heard Matt’s story, how he got in, what he’s been doing. What is your story been like? Yeah, it’s been a wild ride for sure. I’d say, you know, I spent years and years at these corporations, multi-billion dollar corporations, doing marketing, doing strategy, taking on all sorts of roles and various functions until I got really sick of it one day. I mean, it was a lot of fun. I mean, we, we built massive products. Like I said, we did marketing is a crucial part of it. And I think that’s one of the elements that we really find is a great benefit to web3 is bringing all that knowledge, all that marketing background, all those great relationships. Bringing all those people into this web3 ecosystem. And I, you know, I’m a very relationship focused person and I find I do be able to bring those forward and to help various projects. That’s been very exciting.
Donovan’s Journey and Family Reaction
And in your journey, so making that decision, what, how did your, how did your hands, handle your family, your friends take that decision you made? Oh yeah, they, they didn’t understand it at first. I mean, everybody, they’re like, you quit your very well paid job and you went to do what? And I found myself explaining what web3 is, what NFTs are, blockchain, decentralization, you know, so a lot of that that people were not really familiar with. But you know, as time passed, they’ve seen the kind of growth that has happened. And they see that it’s like any other startup, right? You take a chance to chase this opportunity and you just got to see where it goes. And yeah, everybody around me has been very supportive and they can see what we’re doing now. And it’s just been a fun ride overall.
The Potential of Ownership in Gaming
And what product do you think the gaming industry, or which product do you think will benefit the most in the web three gaming sphere? Anything that you feel is like an easy translation or kind of a game changer in that area? Well, I think the concept of ownership, I think it’s a very broad term. People talk about it within every, within every sphere of blockchain. But I think gaming, it just blends really well. Right. You as a player, being able to have ownership of your assets and being able to possibly even generate revenue off of a creator, this way is going, you see like Roblox doing it. And you see all these other games, Roblox, Minecrafts almost there. Then you have, you know, Fortnite is using UEFN. So a lot of this creator focus is a great benefit for web3 to have that use of ownership. So right, as these players can have that sense of ownership, present their creativity, and possibly even earn some additional income in the process, I think that’s a great boon.
Sustainable Token Economies in Gaming
And what about on the tokenization side? Right. Like how, how do we get from play to earn a number go up game economies and build something more sustainable with tokens? Yeah. Yeah. I think that’s a big topic. Cause everybody looks at what’s happened over the last few years, right? Like the, the bonanzas, the tokens all going crazy. Everybody’s making those millions. I think a lot of the people and a lot of projects have learned some very hard lessons. And I think those lessons are still being learned. A lot of people still haven’t come to terms with it. But I think adoption of sustainable business practices within web3 gaming is important. You need proper structures, right? Like traditional gaming companies creating long lasting value can also be implemented in web3 gaming. And I think, until we see that long lasting kind of mindset and not just the quick pump and dumps that we see still today, like we’re still seeing them today with certain projects that are so easily bought that don’t really give any longer lasting value to the games or to the players themselves. Right. Everybody just wants to dump the token. So, you know, I think, like, the creator economy is going to thrive in web three, and I’m excited about everything coming in that area.
Content Creation and Community in Web3 Gaming
We’re also working that area ourselves. I can’t really give any alpha, but, yeah, that’s something we’re pretty excited about. Nice. And I just want to, like, bounce off of what you just said. Mikel is what about. So you said content creation? Would that be, say, somebody wants to start helping in a game or contributing to a game as a content creator and they have just a couple followers, would you say that they are as valuable or they will be rewarded as much as the person that has, say, 100,000 followers or how does that work? Well, I think it should be based more on conversions back to the data thing. We didn’t have a way to automatedly track a lot of this stuff. I think it’s going to come down to conversions, impressions, things like that. So you can start from anywhere and start earning. So you can start with 10 followers or 100,000 followers as well. It’s all about your conversions and how well you engage.
Prioritizing Community Engagement
Okay. So it’s going to be like, different kinds of measurement to account for how they participate in that and stuff. Yeah, it can’t just be about having the most followers, because who knows how those were bought? Exactly. Engagement. Yeah, people engage. You know, I have 15 million bots. Cool. You know, so. How cool can you actually win-win? Right. Exactly. Yeah. Take a convert, take a convert fall over to end user in the game. And if you can show that data, then you should earn your reward. Absolutely. Yeah. But it’s going to take time. Do you have any ideas or how can we prioritize community when building games? I know we’re getting more tools to manage that, but with the growth of communities, NFT games, what should we all be doing more of to make sure community is supportive as it can be? Yeah, I think it’s just full transparency, right? You have to respect the people that are going to invest into your into your game and support you. And I think part of it is making sure that you involve them along the process, right? So if it’s a new launch, get them involved, get their input, their feedback. People want to be part of this. We’re seeing more and more kind of the concept of DAOs come in. Right. And getting people even more involved, like official roles within the community that allow them to also elevate as they’re contributing to your game. So I think it’s just transparency and trust. You can’t get too far away from that because once you lose the community’s trust, like you’re done, turn the game off. It’s over.
Favorite Web3 Games
Yeah, exactly. Do you currently have a favorite go to web3 game for fun? What are you enjoying right now? Oh, yeah. I mean, it’s always shifting, too, right? Like there’s so many cool projects coming up. I like Gods Unchained. I think that’s a fun one, And I think Alien Worlds is another quick one if I want a quick little pass time. Yeah, there’s that’s nice thing about web3 is that there’s like dozens of cool new games coming up almost on a daily. So it’s fun to just jump in and test them all try them out. What? Yeah, I was gonna say Donovan, what about you? Anything excites you? It’s like running around in Gods Unchained.
Exploring Various Projects
Yeah, Gods Unchained is a good one. I’m enjoying that a lot. I find myself echoing a lot of my old web two game games. Yeah, so like the Madden’s, the two k’s enjoying those but yeah, I mean, as browser games come along, chain games come along. I’m sampling everything myself seeing what’s new what’s catching my eye. What’s it right now that catches my eye? Yeah, Alien Worlds. I don’t know if you guys are playing that sounds a lot of fun. It’s Yeah, it’s it’s I mean, all these little projects that come up like I liked Axie too, I still play that every day. It’s a fun game. There. It might be down now and token price. It’s probably I think it’s probably one of the top played still.
Appreciating Web3 Beyond Tokens
Well, that’s right. Yeah, you can have fun. And I think that’s people getting beyond the token part of it. And just still being like, Hey, this is a fun game or whatever they’re trying to do, look past the token. So kind of building off that who what, what is, who do you think is the best avatar on web3? best avatar? The best? What do you mean? Like, you mean in terms of, of like project? Yeah, it’s like, yeah, project.
Admiring Art in Web3
Oh, um, I think I really like Clone X honestly. Or, I mean, next are really cool. I think the, you know, as artifacts, one big one, and they’ve been around for so long, so well done artistically. From an artistic perspective. Yeah, I highly appreciate that stuff for sure. Yeah, I mean, you know, that’s, that’s another aspect of that web3 gaming thrive on to is just art. You know, people that appreciate it, right, like, as they get into it, they see it, they get inspired by it. I think that really plays well as a Dove DT rugged. Oh, I can hear you. Okay. Um, yeah. Okay.
The Growing Community in Web3
So, yeah, I, you know, web3 games, web3 projects in general, highly inspired, lot of community, a good involvement. And that’s something that I really see growing. And Donovan, I had a question. Yeah, I was like, you mentioned DAOs before, right. But are DAOs like maybe the right thing for every project, every game? Yeah, that’s a tough question. I don’t think so. Right?
When to Implement DAOs
Because I think some people are forcing the issue in going down that road when maybe they don’t really need it. Like, is it nice? Absolutely. Is it something that maybe certain games don’t need to focus on? Also, absolutely. Like there needs to be defined roles, people need to have a purpose. But until those roles are really defined, like maybe it’s not the first thing you need to focus on to implement. Like, yeah, these things sound cool in theory, and they sound like the right move. But until you really, if you don’t have your foundation built, then there’s no point in doing it doing a DAO.
Prioritizing Development Resources
Thanks for clarifying that. And moving in that same direction. What resources should developers be prioritizing when building NFT games and why? Yeah, I think, well, many things, right? It depends what your skill set is. But I think overall, developers need to focus on, first of all, product, right? Build a very good product, build good features that people want to use. So I think, in general, don’t overcomplicate it. Build a good, sticky product. Then you can focus on your base and other add-ons. And I think just be very communicative with your team, with your community. It all comes back to this transparency that we’ve kind of been talking about. And just build something useful, like just because it’s web3 doesn’t mean it doesn’t mean you don’t need to think about it from a product fit perspective. So always make it useful. And I think deterministic in what you want to build. It has a point FBT is trying to reconnect.
Recap for Clarity
Oh, okay. Oh, so I think the little mid the reconnecting. Yes. Okay. Yeah. Okay. You burnt. So just just kind of like backtracking a little bit for the sake of the audience who maybe missed some of the words. Oh, yeah. You were saying about like, maybe, like, what specific developers need to prioritize, right? Yeah. So again, to sum it up, it’s it’s just think like, you’re building anything else, just because it’s web3 doesn’t mean you should omit all these other, you know, practices that you’d use in a traditional kind of build process. So product, customer fit, product fit, market fit, building a really good product first, as I, as I said before, I think, and then just thinking about it strategically, from a holistic perspective, and not just saying this is cool, because it’s web3, and then not understanding the underlying kind of mechanics of what you’re trying to build.
Giveaway and Final Remarks
So, yeah, Donovan back. Can you hear us Donovan? Yeah, I’m back. Okay. Okay, cool. So let me let me just ask some final questions here. Oh, right. Or before jumping ahead. We do have the winners. And I promised the audience that we will have a little giveaway. So what I will do is I will pick two people out of the audience. And you guys don’t have to request to speak. I will post your names in the comments. And those will be the winners. you can respond to the comment or send us a DM to get your prize. Before we end the space. Do you guys have any closing remarks to the audience before we jump off here? Thanks for Thanks for hosting. If anybody wants to check out the podcast, just go to my profile. And there’s links to everything there. But I always appreciate you getting people involved here. It helps out so many people love seeing everybody’s work. Anybody speaking or on here wants to just connect free to reach out to me. I’m an open book. Nice, man. Love it. Love it. All right, everybody. Until next time. Thanks so much for joining. We will talk to you later. Bye.
