This space is hosted by Blackwater_Town
Space Summary
In this Twitter space, the discussion revolved around building Sustainable Web3 Game Economies. Topics such as Sustainability, Web3, Tokenomics, Game Development, Player Engagement, and Regulation were thoroughly explored. Participants engaged in insightful conversations about creating games with sustainable economic models in the Web3 space, focusing on player engagement and the importance of regulatory frameworks. The space provided a platform for in-depth discussions on navigating the challenges and opportunities in developing and maintaining thriving game ecosystems in the digital age.
Questions
Q: How does Web 3.0 differ from traditional platforms like Facebook and Instagram?
A: Web 3.0 marks a shift towards user-owned platforms that prioritize user control and ownership of data, unlike centralized platforms like Facebook and Instagram.
Q: What are the ethical implications of user data control and AI integration?
A: Ethical implications include privacy concerns, data security, transparency in AI decision-making, and ensuring responsible use of personal data in a user-centric environment.
Q: What role does regulatory oversight play in user-owned platforms?
A: Regulatory oversight is crucial in ensuring compliance with ethical standards, protecting user rights, and addressing concerns related to data privacy and AI ethics in user-owned platforms.
Q: How are users empowered in a player-centric economy in Web 3.0?
A: Users are empowered to monetize their time and contributions in a player-centric economy in Web 3.0, creating opportunities for direct engagement and value creation within digital ecosystems.
Q: What unique engagement opportunities are presented in Web 3.0, as mentioned in the space?
A: Web 3.0 introduces unique opportunities like airdrops and engagement activities on platforms like cryptopia.com, enabling community participation and value distribution in novel ways.
Q: Why is ethical responsibility particularly critical in the context of AI integration in Web 3.0?
A: Ethical responsibility is crucial in AI integration to mitigate biases, ensure fair and accountable AI systems, and uphold user trust and data privacy in the evolving digital landscape of Web 3.0.
Q: How important is user ownership in the context of Web 3.0?
A: User ownership is fundamental in Web 3.0 as it shifts the paradigm towards user control, data sovereignty, and decentralization, fostering trust, transparency, and empowerment in the digital ecosystem.
Highlights
Time: 00:03:56
Introduction to Sustainable Web Three Game Economies, The host welcomes everyone and introduces the topic of sustainability in web three gaming.
Time: 00:05:04
Ground Rules for the Discussion, The host sets the ground rules and explains the format of the Q&A session.
Time: 00:09:29
Tackling Game Development Challenges, Discussion on providing services and tools for web three game development to avoid common issues.
Time: 00:23:17
Defining Sustainability in Web Three Games, A deep dive into what sustainability means in the context of web three game economies.
Time: 00:39:34
Tokenomics in Web Three Games, Insights on how tokens should be structured to support sustainable economies.
Time: 00:54:29
Regulatory Frameworks and Sustainability, An exploration of how regulations will impact web three game economies.
Time: 01:02:18
Closing Remarks on Sustainability, Final thoughts on sustainable web three economies and the importance of collaboration.
Time: 01:05:43
Call to Action and Final Words, Speakers share their final words, social handles, and invite listeners to join their communities.
Key Takeaways
- Transitioning to Web 3.0 involves a move towards user-owned platforms.
- Ethical considerations play a significant role in managing user data and integrating AI.
- Regulatory oversight can have a notable impact on platforms transitioning to Web 3.0.
Behind the Mic
[ “So for the next 20 minutes, I want to go macro and then I want to zone on in like the companies wants to invest in and why.”, “So where are we right now in web three through your perspective?”, “It’s a great question.”, “I think, so from a macroeconomics perspective, when I see web three right now, I see it very much in a similar scenario to like pre dot com, right?”, “The hype is definitely falling out of the market.”, “I think obviously Jerome Powell and the Fed and you know, cranking up interest rates has definitely caused some economic shifts.”, “You know, all the quantitative tightening, you know, borrowing isn’t as easy as it used to be or as attractive.”, “And I think that’s just caused a lot of capital to kind of dry up in the VC space and especially the FBs, which is crypto or web three is kind of considered the riskiest of the risky.”, “So we’ve just seen that dry up massively, and I think that’s a good thing because it takes all the BS out of the market.”, “There’s people who are here because they actually believe in the technology and the kind of paradigm shift that it offers as opposed to just people who are there because they want to get rich.”, “But when we start looking at like the hype cycles of web three, we had like deaf summer in 2020.”, “We had NFTs in 2021.”, “We had play to earn and all that kind of stuff in 22.”, “Right.”, “So we can see that it tracks really closely to social trends.”, “Right now, what do I think’s coming next?”, “This is my opinion.”, “I think the next hype cycle we’re going to have is going to be around web three games and social media.”, “Web three games is always been a fundamental use case that we’ve always thought crypto was going to be used for because, you know, it just makes sense.”, “Instead of grinding, take world of work at gold farming in Malaysia, for instance, right?”, “Like make people grind to make money.”, “It’s just, it just makes sense conceptually.”, “We haven’t seen any really serious like triple A level gigafactor games come out of that market yet just because it’s still so early on.”, “But this is something that I’ve been focusing on just as it was a former kind of democratization movement.”, “I think crypto is kind of like advertising”, “It’s also like democratization moving.”, “It’s really empowering users and giving them unique ways to engage with the platform as well as the creators and all that kind of stuff just in a whole new dimension that we haven’t really seen before.”, “And so the endgame will start seeing that slowly developing.”, “I’m also looking very closely at social media, right?”, “Like we have a few popping up.”, “I think we have like .connect which I’m really liking how they’re approaching things from a decentralized perspective”, “engagement’s huge.”, “You know, I was recently reading a newsletter, and it just came up to my mind, and they said, you know, in direct mail advertising, right, like you send out a letter, a postcard, they used to say if you can capture someone’s attention for two seconds to pick up that postcard, flip it and read it, you’ve basically captured them for the next five minutes.”, “That’s awesome.”, “After that, they might take an action.”, “You might call the number here, they might check out your URL.”, “Well, it’s the exact same concept now with like all these attention economies, right?”, “Like you got to capture that attention for those first two seconds, or actually I think it’s down to a second online advertising.”, “Well, you know, if you can get them past that, you actually have them hooked for longer.”, “I think when we look at all these data, like engagement data codes for online work, you kind of see that paradigm shift in screen time.”, “And, you know, you look at your own mobile consumption of what apps you like, as soon as you pull out your phone, how many times a day do you pull out your phone?”, “And what are your go to apps that you do?”, “Right.”, “And so, you know, Facebook and Instagram, they all have their own unique little quirks to how they can get you past two minutes.”, “If they can get you past two minutes, you’re going to stay on there for at least 40 minutes, which gives them amount of time to kind of jump in there and, you know, push narratives to you, push ads to you know, all these different things, which has raised a lot of questions in the regulatory space of protecting consumer data, protecting all this kind of stuff.”, “And so as we start moving over to web three, where it’s more of a user owned kind of perspective, like, how does that really play into thing?”, “And I think that for a lot of us that don’t want regulatory oversight, and I’m not saying that there won’t be.”, “I’m saying that if we want to kind of just be in control of it and not let the government step in and tell us how we need to do this, we need to start thinking a lot about the ethical components of it, of like, especially with, around AI and how we are going to spoon feed user data into that and all that kind of stuff.”, “So that’s kind of how I view it is.”, “It’s more of an ethical thing at this point.”, “Great answer.”, “Thank you for that.”, “And looking at web three as a whole, right?”, “Focusing particularly on the games and on the social media aspects of things, why did you zero in on pipe, and can we put some macro data on that?”, “Are we starting to see overall capital inflows into the area?”, “And how do you think that is going to play out?”, “Yeah, so for me, it’s really just because I am a gaming fan myself.”, “And that was an area that I got into because a lot of my readings have just been around like, what does the future of gaming look like?”, “I also think just because it’s one of those areas that I think is ripe for disruption.”, “You know, like, when you think of like innovation, it’s like a wedge into the economy of the world that,” “and so that’s kind of why I look at it that way.”, “I think, you know, with all the FTX and the Celsius and all the, you know, the market blow ups we had, you know, late last year, I think that caused a massive shift on the other end of taking capital out of the market, so place safe.”, “But once again, you know, one of these cycles that we’ll be watching closely is where does that next, you know, VC money is going to flow in the market.”, “And so I think we’re finally at that downturn point, probably one more leg down, in terms of like,” “evaluations in terms of prices before we see once everyone calls Bitcoin dead for the 1000 times, it’s actually when capital will start flowing back into the space again.”, “So I think we’ll start seeing that probably in the next couple of months.”, “I don’t think we’re quite there yet.”, “I would say that we’re probably more reserve dry powder at this point, with like, you know, inflation and everything else.”, “But after this year, you know, heading into the next happening, which have always been capital inflow lead ups,”, “I think that that’s where we’ll start seeing capital flow back into these spaces again.”, “Once, you know, regulation or, you know, lack of or more regulatory woke DCs don’t start weaning out these, these markets essentially.”, “I think social has always been that double-edged sword of engagement of like, you know, watch something real quick.”, “But I think that as we start seeing folks use the internet more for their attention gain, if we will,”, “you’re going to start seeing the attention war exceed probably 30 seconds to starting two minutes.”, “And so if these platforms can keep your attention span for more than two minutes,”, “and I know it’s a good shot that you got your engagement hook, and that’s my own anecdotal evidence of my wife engaging on these social media marketplaces and ADHD and all these other things that we all fight.”, “But if these platforms can get you for more than two minutes, I think that’s where you’re going to start seeing kind of a community driven, supporters.”, “And it keeps keeping folks tied in for a long time.”, “And so that’s my, that’s my thesis on that.”, “Great, separate question.”, “So based on your perspective, right, you’re talking about something macro, something a little bit smaller, but at the same time, it’s easy to forget what’s happening right now in the world is also a major macro influences on what’s happening in the web three space.”, “So could you comment on those right now?”, “Yeah, I think a lot.”, “I think it’s just kind of looking at even recently, how the narrative has started shifting around, you know, TikTok, and all that kind of stuff.”, “We’ve already kind of seen this weird concept of dividing the world’s internet up, right?”, “You have a Chinese version of the internet, then the Western version of the internet, because, you know, that’s now I think being said amongst the G7 of you, like, we need to start decoupling China’s internet from the Western internet because we can’t have TikTok being this huge and engaging platform.”, “But data feeds make a huge global reach into these verticals, and as we increasingly want more privacy, how do we, what do we give up in return for that attention?”, “So if we don’t, you know, well, what does the world look like in the future?”, “You know, like, more regulation saying, you can’t be sharing all that data outside the platform.”, “And so now we’re in kind of this weird tension between, well, we have to give it up or we don’t.”, “And so I think that’s where it’s driving the macro space of everyone’s attention to, you know, what’s going on with TikTok, kind of what Putin’s doing.”, “All of that kind of stuff.”, “Yeah, great, great point.”, “Yes.”, “Yes.”, “I, so therefore I’m looking for my next immediate macro thesis being look at places around the world that we might see crackdown data.”, “I’m watching that very closely in Southeast Asia as well as, you know, APAC and EU right now, very closely.”, “Southeast Asia is going to be interesting because growing economic zones and such a multicultural, interesting space, good point.”, “Okay, but let’s go back macro here, right?”, “Like, do you think that’s going to be delayed?”, “Or do you think that’s going to be immediate, this web three uptake over games, over social media?”, “I don’t think it’s going to be immediate.”, “I think, once again, I think we’re still at the point where, you know, we still have leg down.”, “I think anyone saying that we’re not heading into a deeper downturn will really be able to kind of weather the case in point because there is a lot of misvaluation and overcapitalization that happened, just from all the influx of capital Uncle Sam just cranked into,”, “believe how they, you know, you have a copper ground war that’s happening right now in Europe and that shouldn’t be underplayed.”, “I think we still need to be focusing on the issues, but then tuning up the long term trend of like, OK, how do we get through this this downturn that’s happening now before we start looking for the next global hype cycle that will happen after this world recession?”, “And I think that that’s just hanging for stuff.”, “So once again, no one can time the bottom.”, “But in terms of the larger macro, that’s there’s still a lot to learn before we get to that point.”, “Perfect, thank you.”, “Now let’s shift gears a little bit.”, “So you were talking a lot about gaming in general.”, “In terms of web three gaming, how do you think it would pan out? and the timeframe”, “How do you see that unfolding?”, “You know, I’m, I’m super really bullish personally on on we’ve really gaming.”, “I think, I think that it’s really, I think it’s still early days to call it.”, “But I’m talking to a company that I’m actually personally involved in, called Cryptopia that I actually think is doing it the right way.”, “And that’s not just because I’m an investor in them.”, “It’s more because it just makes sense from how they’re thinking about tokenomics around these games”, “And how do we get the engagement?”, “They built out this entire epic ecosystem around games where they have this solid play to play economy, economy built out as well as economy where you can, you know, grind play.”, “So it’s not all merchants those kind of marketplace or or self monetization where you know, what in the past”, “And so the gamers really have a player to play economy.”, “And if they want to monetize their time they can if they don’t want and just have fun.”, “It’s also okay, but they have choice, and I think that’s very important.”, “We have a very nice airdrop running, so you can experience it yourself, how we approach things.”, “We do it differently from all the other airdrops.”, “So come check us out on our website, cryptopia.com.”, “thank you very much for the opportunity to talk about the project and give my thoughts my two cent.”, “Thank you for the hosting.”, “Great job, and I hope to catch you on the next one.”, “Thank you.”, “Perfect.”, “Thank you very much.”, “Now, before we end this, I must say that we have a game night running right now.”, “So make sure to join our discord, make sure to follow all of our speakers in here.”, “Thank you very much.”, “And I’ll catch you guys next week.”, “Bye.” ]
