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The Power of NFTs
Recorded: April 3, 2024 Duration: 0:55:09Space Recording
Full Transcription
Hey, everyone. Sorry about that. Space was just rugging on. It's Kalana. I'll get you up here one second.
All right. I think we managed to get the space running. I could only join as speaker of Metropolis. If you can give me the co-host role again, that would be awesome. And yeah, we're going to play some music while we set this up. We are going to make it happen today. So don't worry. We will be getting ready. And we'll start in about one, two minutes.
We'll be right back.
We'll be right back.
Spin.
Spin.
Spin.
Spin your love and lost my senses.
Spin your love and lost my senses.
Spin your love and lost your senses.
Spin your love and lost my senses.
Spin your love and lost your senses.
All right, we are not going to play the full song because obviously we got to start a bit late and every minute counts.
So let's just get started. Good afternoon. Good evening. Good morning.
My name is Kelano and I will be your host for today.
And we are with the Metropolis crew and we are going to talk about the power of NFTs today.
And we also have a pretty amazing panel. So I'm super excited for the conversation.
But before we get started, we need to spread the message.
The space rugged. So everyone who had a reminder is basically not getting a reminder.
So please, if you have a moment and want to support the space, go on the bottom right hand corner, click on the purple button.
Give it a like, a retweet, a comment, drop your questions, and we will check them out later.
But without further ado, let's get started.
Metropolis, how are you doing? And is it Rashid behind the account?
It's Woods behind the main account. We've got Rashid here on his personal.
All right. So how are you today then?
I am well. How are you, Kelano?
Doing awesome. You know what? No one asked the co-host how they are doing.
So I really appreciate that. Thank you so much.
Yeah, it's been a crazy week. So we're just grinding.
Of course.
Let's pass it around. Well, let's see how Rashid is doing as well then.
Good, good. I really enjoyed your intro music. That was a great track. I was going to Shazam it.
I can DM it to you. You will not find it just like that because I've got the goodies, you know.
And I'm glad you like it because I did get a bit of fud the other day concerning my house music taste.
And I was like, you know, it doesn't work like that. You can't fud house music.
Let's pass it around. We've got Planet Mojo. How are you doing?
It's not been a long time. I've spoken to you. So good to see you again on stage. How are you?
GM, GM. Doing good. Super busy. But we're shipping stuff, you know.
A lot of stuff to be shipped this week and week next to this one.
But we're on track. Excited.
Well, that is awesome to hear. We don't like delays. So it's good to know you are on track.
And then we have Larry from Block Game. How are you doing, Larry, today?
Hello, hello. Doing great. Same. Busy. Interesting times we're living in. So all is good. Happy to be here.
Awesome. Thank you, everyone. We have done the little round of introduction.
We've done the Space Etiquette Minute. So let's get started with the power of NFTs.
And I guess, you know, we're all in the Web3 gaming industry, right?
So the number one question I really have is, what makes NFTs so powerful compared to the traditional gaming industry with NFTs?
So maybe I'm going to start with you, Metropolis, and we'll just pass the baton around, if we can say.
Yeah, totally. I mean, for us, we really started with NFTs when we launched our project at end of 22.
It was through launching an NFT collection.
And I think, you know, one of the first, most powerful things is you can essentially build a community, bring people around an idea, raise capital all through NFTs,
especially at that time, you know, before you've actually even created the product, which is an interesting way, you know, to go.
And we've seen it happen a lot in the space.
So, I mean, just right off the bat, I think that's one of the key things that NFTs has allowed to happen.
Community funding and being able to kind of bring together people around a vision that one's building.
Yeah, no, totally resonate with that, totally resonate with that.
I guess I'm just going to pass the same question to everyone.
So let's move to Planet Mojo.
What makes NFTs powerful in the Web3 gaming industry compared to the standard gaming industry?
I would say the fact that we're putting the community at the center of it all is what makes, what empowers, like NFTs are just a tool to empower the community.
And since community is at the center of this Web3 world, that's how everything is tied together, right?
Like, because ever since now, you grinded for hours and hours on end to get some item in game.
And at the end of the day, you turned off your PC and the item stayed in the game.
No way to extract value out of that.
And that was the state of things.
Everyone was accepting of that.
Instead, now there's this paradigm shift, right?
You can grind inside the game and you can take something out of it.
So maybe we can just game on hours and hours on end without feeling guilty after that.
That's the thing.
Yeah, interesting point.
And I do like what you say about the value extraction side of it.
So I definitely resonate with that.
I'm going to pass the question to you, maybe Larry.
What do you think on that?
Sure.
I'll be bold and boring here.
I'm a long time gamer.
And I mean, what I like about NFTs is that, you know, the sense of ownership of the assets and the sense of, you know, receiving some in-game assets as items.
Very good examples that I use over and over is the one is Diablo 2, where, you know, we were playing it for like four or five years back in the day.
And all the items, all the rare items were just traded in random marketplaces without any sense of ownership and lots of scammers, etc.
So I would love to see those digital assets, you know, to have an actual value, actual sense of ownership.
So that's where NFT comes into my gaming space.
And same, for example, as of League of Legends.
I was playing a lot.
I've got lots of skins, lots of everything, lots of in-game assets grinded.
And I just couldn't leave because I didn't want to lose all of them.
And that's why I'm in Web3 gaming space in general, because I would love to change that someday, you know, for people to own the things that they've grinded for so long.
So, yeah, that's my take.
Bold and boring.
No, no, not boring at all.
You know, I do concur with what you're saying.
And, you know, that's this Web3, well, this standard gaming world, keeping your assets and changing things that you don't really want to change because you thought you owned them.
It's exactly why we've got Ethereum.
Vitalik turned into a villain and thought, you know what, I'm going to build my own decentralized world.
So I do resonate with that a lot, you know.
But I've got a question.
It is a tricky question.
So I'm going to explain it.
And then I really want to get your takes on that, you know.
Do you think NFTs are the vehicle or the medium in the growth of Web3 gaming?
So just to clarify, the vehicle is like the expression of digital scarcity, ownership and transferability.
And the medium is like the value, the identity and the utility across the different platforms and ecosystem.
So NFTs, vehicle or medium?
A pretty big question, but I'm going to start with you, Metropolis, on this one.
I mean, I think it really depends on the purpose of the NFT.
Like as an example, with us, with our avatars, the NFT unlocks the utility, unlocks the interoperable avatar, unlocks the ability to get products and content and experiences.
So actually, I don't know, Kalani, in that instance, is it the vehicle with your definition?
Sorry, I was muted.
So I would say in that definition, yeah, it would be the vehicle, in my opinion.
Because the medium would be more like what the value, the identity represents.
So like I guess PFPs are more medium in that sense.
And maybe with regaming assets, like let's say a skin in a shooter game or whatever, could be more like the vehicle in that sense.
But I'm going to pass that question around.
Do you want to?
Carry on on that question?
No, yeah, absolutely.
I was just going to say definitely vehicle then from my perspective.
All right, awesome.
I'm going to pass it to you, Planet Mojo.
Kalani, I'm not going to lie.
I'm going to need another pass on your definition of vehicle and medium for this one.
Yeah, I can repeat, right?
So the vehicle is really like the ownership and transferability of the asset.
And the medium is more the identity and its utility across different platforms.
Well, I do think that it can be both, right?
Why choose?
Because at the end of the day, there's sides of both in the use case that we are seeing today, right?
A lot of people use NFTs as PFPs, so that would be a medium, right?
But if you think about, I'm going to say it, unfortunately, we're talking about Web3 Gaming, but I'm going to talk about Counter-Strike skins, right?
At the same time, they can be a vehicle for trading.
And a lot of people that I know that they used to play CS with, they don't even open the game anymore.
They just log onto Steam to start trading their skins.
But at the same time, they are a medium because they showcasing your big costly skins is a way to showcase that you know more about the game,
that you've spent time inside the game.
And it has meaning, is the thing.
And it's not vain.
It has a significance.
And it is important to some people, to a lot of people, I would say.
So my final answer is, why not both?
Why not both?
I think it is a valid answer.
There is no right to wrong answer, really.
So I do appreciate that.
I'm going to pass that one to you, Larry.
You are the last one man standing.
The last man standing.
Yeah, I'm actually on the why not both boat, too.
Because I'm pretty hyped about everything, you know, Web3 has to offer.
I'm relatively young in this space.
I'm here for two years or so.
And I'm still hyped of all the things it has to offer.
And I really, you know, really, why not both?
I mean, it's, yeah, PFPs might be a medium.
Some gaming projects might have it only as a vehicle.
But in some sense, it could be both of those things.
Or one game could have, like, different NFT assets that, you know,
would cover both of those aspects, being a vehicle and a medium.
And so, yeah, why not?
All right.
Yep.
Totally fair take.
You know, I didn't really have an answer in mind.
So I'm just glad we got all your opinions, all valid.
And I guess, you know, another question.
When we talk about asset ownership and all that jargon that we really relish as,
you know, Web3 enthusiasts, do you think gamers care about the tech?
Because I think it was maybe you, Planet Mojo, Larry that talked about
Counter-Strike players not necessarily even playing the game
and just looking to get loot boxes and skins and potentially trading them
and all that stuff.
You know, so they may not even necessarily care about the game or the tech,
but they just care about that ownership and that tradability aspect of it.
So do gamers care about the tech?
Maybe, Metropolis, you can start on this one.
Yeah, I mean, it's a great question coming.
I mean, with Metropolis, where we're less of a game, it's more of a virtual world.
There's definitely a room for just purely collecting.
I mean, for us, you know, we have a lot of brands and creators creating these skins
and it's really linked back to their fans and the people that want to collect their work.
And some of that's, you know, digital link to physical, but some of that's also just digital.
So in that instance, for sure, there's room for just the collection, the ownership.
But definitely, I'd love to hear from the rest of the panel on,
from a pure gaming perspective, if that stands alone.
Yep, definitely.
So, well, let's pass it around to the rest of the panel to see what you guys are thinking.
Planet Mojo.
Well, the thing is that, wait, actually, mind blank, what are we talking about?
Yeah, the question is, do gamers care about the tech?
Oh my God, no.
I would say that gamers, per se, are gamers, right?
They want to play.
They just want to have fun.
They want to either compete or play with their friends, right?
And in this space, sometimes we get lost talking about the tech
and we get lost talking about very complex stuff.
But the thing is, if you can't see the result of this very complex stuff,
what's the point really, right?
Talking about, I don't know, transaction speed, efficiency, cost.
Or talking about logins and talking about anything else around tech, really.
The thing is, people want to do what they want to do,
and they want to do it in the fastest, easiest way possible.
And that's as far as their involvement in tech goes, right?
Yeah, no, I think it's a good point, you know.
So maybe people do care more about the tradability aspect than the ownership aspect.
I think you're raising a valid point here.
Larry, I'm passing the question to you.
Yep.
I think that gamers, of course, some gamers care about tech.
Some gamers don't care about tech.
Some gamers, I mean, watch game reviews and always check what are the new graphics stuff added to the game,
or, you know, how big are the new games, etc.
But in general, I would love to think that gamers don't care about tech.
They care about ownership, transferability, tradability of their assets, you know,
trading, sharing, bragging, flexing of your new skins, etc.
Playing with friends, you know, enjoying things.
And even from my personal view, I would love to see less and less, you know, these,
oh, you have to connect wallet, you have to change network, you have to do this, you have to do that,
you have to do third to play the game.
Even if you're talking on that free scale, it should become more flawless and less demanding
for people to think and just let them play or enjoy the multiverse or whatever.
The multiverse, I like that.
Yeah, I think you're right, you know, and it always makes me wonder,
like, is custodial wallet the solution to an easier gaming, I guess, growth over time, you know?
But that is also another question.
But, you know, you just talked about ownership and tradability,
and, you know, I just want to put some context into the next question.
If you guys, we talked about Counter-Strike, and you can trade your skins, your weapons, and all that,
and that's great.
And if you played Fortnite, you also can buy skins, you can buy pretty cool weapon skins and clothing skins.
However, not a single user has made a dime out of selling Fortnite skins,
because they do not offer tradability as a feature.
So, do you think the tokenization of gaming assets and, as a secondary effect, the ownership of it and the tradability,
is that going to be one of the biggest arguments to Web3 adoption overall?
So, I'll pass this one back to you, Metropolis, and once again, we will move around.
Yeah, I mean, in theory, for sure, I think that's, I mean, and me also, as someone, I'm not a pure gamer,
I find that very interesting and exciting.
But what is interesting is just from feedback from a few people, some of my advisors who run some of the biggest gaming companies in Web3,
what I've heard is that when they tried to promote into Web2 gamers, it's just, it was just not working,
and that their focus really had to be on the Web3 community.
So, I'm curious to know, really, like, how do you actually adopt those Web2 gamers,
and do they care, and is it important, and will they adopt blockchain and tokenization?
I think that's not happened just yet, at least from my understanding,
but that's, I think, the interesting thing to learn, is, like, will these traditional gamers adopt the Web3 gaming,
and when, and how, and what's that roadmap look like, is something I'm very curious about.
Yeah, great point, and maybe they don't care about the tech, maybe, you know, that comes back,
sorry, to my question from before.
Larry, I saw you reacting strongly with a 100% emoji, so do you want to give us your take on that?
Yeah, sure, I just agree, you know, so we haven't yet onboarded Web2 gamers into Web3 space,
and I think my personal opinion is that we will onboard them only when we won't call it Web3 space anymore,
it will be just, you know, a common practice that you, that you have ownership of your digital assets,
and it will be just as is, you know, a fact, a simple fact, without any big tech words behind that,
and that's what will attract them, and I think that the selling of your skins, et cetera,
is, like, the go-to thing, the first go-to thing, and the best use case, probably, to have for mass adoption.
Yeah, very, very good point, and, you know, I don't see any Web2 game talking about the fact that they made the game
in Unreal Engine and all that stuff, right?
So, somehow, in Web3, we feel the need to say our game is on Arbitrum, on Optimism,
so I do agree with you that maybe we need to get rid of that to really make it attractive to everyone in the world.
But Planet Mojo, what's your thoughts on that?
This time, I know what I'm going to say, Kalano, but the thing is that that's true.
People might not care about the tech, and maybe people might be attracted to Web3
when we're going to unlock certain things like trading and stuff like this,
but when we talk about mass adoption, I think that that's different
because, as Larry was saying before, that only happens when the lines between Web3 gaming
and gaming itself will be more and more blurred, right?
For people to be onboarded to these Web3 games,
the walls that are here right now need to be non-existent
because when we talk about mass adoption, I'm thinking about millions of gamers,
not millions of users, because in this space, yeah, I would say we have a lot of users.
But when you talk about gamers, we talk about people that want to have fun, right?
We talk about people of all ages, and those are two big, important things
because if you think about Fortnite, right, there's a lot of Fortnite users that are not even 18.
And imagine talking about mass adoption when you cannot even onboard some of those people.
So we need our walls to go down.
We need the lines to be blurred between Web3 gaming and gaming.
And at that point, we will be able to talk about mass adoption, and we will see it.
Yeah, very, very good point.
And when we talk about those younger generation, you know, the 18 or even 16 and under,
there is obviously another layer of regulation and legalities that come in play.
So I definitely agree with you.
Rashid, I saw you briefly put your hand up.
I'll pass it back to you.
Yeah, actually, there's one thing I was thinking about yesterday,
and guys on the panel, correct me if I'm wrong on this.
It just came up in my mind.
You know, we're launching our tokens.
And so I'm very much in this mode of the token launch, the launch pads, and that, you know, the whole narrative around that.
And I see that so many, you know, there's so many Web3 games and entities that the core focus of the narrative is around the investment side,
like invest in our token, invest in the game, you know, but, you know, invest in the seed round.
These are the terms.
And I just thought, like, you don't see that.
You never see that in Web2 Gaming, right?
You don't have, like, Call of Duty saying, hey, guys, you know, we're doing our seed round on this launch pad.
Come join it.
So that's another interesting thing is I never see that much narrative around the actual games themselves and, like, the lore of the games.
And it still feels we're very much in this period of Web3 where it's much more about, like, the speculation and the investment and the profits versus the actual gameplay.
And I think that's something that we need to mature as a space on, and that will be when you start to see maybe more of that mass adoption,
because the teenagers, they're interested in the game, they're interested in playing, they're interested in that community and everything that makes that up.
Controversial opinion, maybe, but I just wanted to bring that up.
I'm curious what everyone thinks about that.
No, I think it's a really, really good point, and I don't think it's controversial at all, you know.
My response to that would be that, you know, the nature of Web3 in general and Web3 gaming by default is that it's built from the inside out, right?
So we really start building the community first and launching the token and all that stuff, and the game effectively comes way after, right?
So there is a great leverage in Web3 that allows us to raise funds in a very different way to what is currently done in Web2.
So I think it's a very interesting layer, but we can hear what you guys are thinking, maybe Metropolis.
No, no, totally. That's very true.
Sorry, Mojo. I realized as I was saying it.
Well, I think that there's, like, there's pros and cons to everything, right?
And, again, I don't think we have to necessarily choose, because either, like, you raise funds the old way and you present your idea and people buy into it,
or you do it the Web3 way in which you, like, you build in public, you gather some feedback and you implement feedback in another way.
I would say that the way to go would be a mix of the two things, right?
You have a strong idea that you want to bring forward.
You start to gather interest from that idea, and then you bring your community in and you gather feedback and you build with your community.
I would say that that is, you know, compromises are the way to go.
So, yeah, good, good, yeah, good opinion as well, definitely.
I don't know if compromises is, like, personally the way I would see it, but definitely valid and good food for thoughts to me as well.
And, Larry, I'll pass that to you, because, obviously, you guys at Bloggame are really doing that narrative where you're raising the community and the funds
and then launching your token in a couple of weeks, I think, or pretty soon.
So, I don't know if you want to give details around that, but what do you think of this narrative versus the traditional Web2 narrative?
Yep, so you got me with the details.
If I want to bring some details, I sadly can't bring any alpha, but just of yet, I can see it soon, within weeks.
But in terms of these narratives, so, yeah, I mean, what I like about Web3 marketing in general is that it has those narratives,
because in Web2, everything is solved out, you know.
You buy users, you buy user acquisition campaigns, you do some branding, and it seems everything is measurable via return of ad spend, and that's that.
In Web3, you are in credibility marketing era, where you need the community, you need people to know about you, to understand what you're doing, to support you, and people to talk about you.
It's a very heavy, word-of-mouth-based, you know, marketing hacks, and et cetera, and you have to build those narratives or hop into the trending narratives at that point.
So we've started building early, I mean, in bear market, around two years ago, and we just thought that gaming is the next big thing.
That's how we enter, and that's what we should do, and that's what we love to do, and apparently it became a trend.
It became a narrative itself.
So, yeah, we are lucky, and yeah, I think you don't necessarily need to follow Web3 narrative.
So just, you know, pick one, pick what you want to do, and build, and when the time comes, you just, you know, prosper.
I think if I can hop in here real quick, you guys, I think I spoke with Andrew yesterday in the space about, you know, the onboarding aspect here, and if they care about the technology.
And I think the key really is us learning to put our own interest in the technology aside and see that they really don't.
We've got to learn to hide this technology behind the front of everything.
And then a year down the road, these individuals look into it and go, oh, we've been trading NFTs this whole time, and now they're not scared of the space because they've already utilized it, right?
And I think that's something that we all miss because it sounds like you're doing something shady, right?
But if there's no actual investment in those transactions in that sense, like we spoke about, where it's simply purchasing your skin, now you can trade it.
You know, why can't we do that on NFTs without saying you're doing this on NFTs?
Just do it.
That's the technology that this game utilizes, right?
And from that, you're onboarding people unknowingly, and just down the road, that onboarding automatically happens, in my mind.
Yeah, I think that's a very valid point.
And I think the counter-argument to that maybe is just like, how do we manage the wallet situation, right?
That would be the last friction point I see to what you're saying.
So 100% valid, valid, valid.
But yeah, I want to kind of maybe take a little break, and here we go.
It is past the half hour, so we need a little bit more support from you, everyone in the audience.
Yeah, it is a good sound effect, I know, I know.
But guys, in the audience, if you are enjoying the conversation, give the space a like, a retweet, a comment,
so we can get more people listening to this awesome conversation.
And that is it for the space etiquette, and I'm going to go back to questioning you all.
I guess, you know, one thing that I'm quite curious about, especially as you're all in the Web3 gaming industry,
you know, like, let's, if we look at the PFP side, for example, most of the PFPs, when they mint out,
they actually are, rarely are free.
But in the Web3 gaming industry, we are seeing more and more of the game assets to be free upon release.
And then, obviously, they can be tradable in the future, and then they will generate some value for the holders, right?
But do you think those free NFTs are going to be a strong enough incentive to attract the gamers
to come into the Web3 space, and then this tradability aspect over time to get some potential rewards
is going to basically bring the masses to us, you know?
So maybe I'll pass that to, let's say, Planet Mojo, and we'll pass it around after.
Hey, Coleno, you already know what I'm going to ask you, but can we have the question again?
Yeah, of course we can, of course.
So do you think free NFTs are going to be, for gaming assets specifically,
are going to be a strong enough incentive to attract the gamers?
And by gamers, I mean the Web2 gamers, so they can then later trade those assets
and get some rewards or some financial incentive to do so.
I mean, so far, the only way to get those people is through free assets, in my opinion.
Because, like, the idea is, if you are going to take a Web2 gamer, per se, right,
and you're going to ask them to pay, like, double the price of a AAA game
for an asset in a game he isn't, like, he just wants to try,
I pretty much doubt that many people will do that, will take the leap.
Instead, if you let people in through free assets and you start teaching them
and you start guiding them through the journey of what it means to own your own assets
and everything else, at that point, I think that you can get people to understand
what the space is about.
And at least, I'm going to tell you that, like, this is from the theoretical point of view, right?
But when it comes to Planet Mojo itself, we've done something similar with Amazon Prime, right?
And these people are most likely have never heard about Web3.
But still, we managed to onboard more than 100,000 users
and we managed to distribute more than 25,000 NFTs.
So at this point, this lets you think that you need to get people's foot in the door
and you need to get to take their hands and guide them through the journey.
And then at some point, they will realize and they will understand
why we're doing what we're doing.
But I pretty much doubt that they will just take initiative
and spend too much up front when we're talking about gamers instead of speculators.
Yeah, good point.
Did you say 100,000 through Amazon?
Just to clarify that number, make sure I heard.
Yes, that's correct.
100 K plus.
Well, those are not rookie numbers.
You pumped those numbers.
That's super impressive.
What about you, Larry?
We're going to do better.
It's just the start, of course.
It's just the start.
What about you, Larry?
What do you think free NFT is a good enough incentive to bring the Web2 users to Web3 gaming?
I don't know.
I have an opinion on this as well.
So first of all, if you're talking about gaming,
so I mean, free NFTs will be only as good incentive to attract new players from Web2,
let's say, when the game will meet the Web2 player requirements.
So if we have a Counter-Strike, for example, as a Web2 example,
and we have some sort of Web3 Counter-Strike version that has NFTs as prices,
a better marketplace, ownership, et cetera, and gives away NFTs, then I think yes.
If we don't have that type of game, then I don't think so.
But also there are other angles, so if not only in like traditional PC gaming,
even, you know, our case of blog games, we attract both Web2 Web3 users,
all the mobile game players over the world, wherever, wherever they are,
and we offer them, you know, you can participate in a contest,
you can win an NFT, we can, you know, you can get on-chain rewards,
and then those players, you know, either they will choose to get that on-chain reward
or they will choose to go with off-chain reward, they can, you know,
it's still, you know, a quite big incentive for them to,
so, okay, how do I claim that reward?
So, oh yeah, I need the wallet. What is the wallet?
Okay, I logged into the wallet.
I need to get some gas tokens or whatever.
What is that? You know, he gets into it just to claim his reward,
and that is an incentive after all.
So, it very depends on the situation.
Yeah, fair enough, and just out of curiosity,
not trying to put you in a corner here, obviously,
but, you know, you said you're attracting Web2 and Web3 users.
Do you have any idea of the percentage split between the two?
I know it may be a question for the devs, so if you don't, no worries.
Yeah, yeah, sorry, don't have it at this stage.
It would be a tough question, so I didn't want to put you in the corner.
But I'm going to pass it to, I think I've done the round,
so I'm just going to ask you my next question,
because I've got more, I've got more.
And, you know, we are looking, I mean, the future is bright.
You know, I do believe that 2024 is what I call the year of gaming.
But what do you guys think?
Because we are seeing a lot of alphas and beta tests of games right now,
and, you know, we have a few games out,
but all the big players who are marketing their games
and doing the alpha and beta tests right now
are hopefully coming out this year.
So do you guys think this year is really the explosion,
or do you think we're still a little bit early
and it's more likely to be like 2025?
So Metropolis or Rashid, I'll pass that to you.
I think we're still very early.
Just going back to your last question,
I mean, from my side, I can give you a bit of data,
which is, you know, we kind of have a similar approach
where you can sign in with an email,
we create a wallet for you,
and you don't need to worry about knowing anything about NFTs,
or you can use your own wallet,
and it's like the more Deegan approach.
It means you kind of already are in Web3.
And we're definitely heavily leaning towards
seeing many more Web3 people adopting our product,
even though we do have many Web2 creators on board,
and we're constantly promoting out into the Web2 environment.
So because of that data,
I would say that to the question you're asking now,
that we're still early,
and this is the year where you see games start to kind of come out,
you see people investing and taking a position in these games,
these communities kind of growing stronger.
I still think, though, we're early from the pure gameplay perspective,
where you have the masses coming and comparing a Web3 game
to the Call of Duty or whatever games
they currently are engaging with outside of Web3.
Interesting.
And I love when there is a bit of daytime back in an answer.
So yeah, thank you for sharing that as well.
So we are still early,
which means, you know what that means,
there is a ton of opportunity to come in the near future.
Planet Mojo, what do you think?
2024 or 2025 for the Web3 gaming explosion?
Well, I do think that every year is the year of gaming,
but to be honest,
we, like, having seen all the evolution of things
ever since last run and throughout all the bear market,
we are in a much, much better position right now.
So many great games starting to come out
in, like, actual playable builds
rather than just hype trailers, right?
But still, I think that 2024 is still very long, you know?
We still have many months to come.
So I think that a lot can happen in 2024,
but I do still think that things will get extremely crazy in 2025.
So we've got a lot to look forward to.
Yeah, I think that's a sensible take.
Definitely agree that some good things will happen.
But, you know, even if the game comes out today, right,
the user acquisition and user growth takes some time, right?
If any of you played Fortnite at the beginning,
it was a desert.
There was basically nobody playing Fortnite
for the first six to nine months.
And then they had a big patch, changed a lot of things,
and then people were like,
okay, this is cool.
So, you know, I do think there is going to be
a similar growth curve in the Web3 world
for games in general.
And all the V1s we're going to see coming out
are not going to be the final versions.
We are going to see improvements, more feedback.
Because there is also a big difference when,
you know, people who play the alpha
are giving a type of feedback.
But people who are playing the final game
usually also give a different type of feedback
because they're also different gamers.
So I do see that having a pretty big impact
on the growth and the user acquisition strategy over time.
But maybe, Larry, I'll pass that one to you
as the last person to jump on that question.
So with 2024, the big year,
or do you think it's more overlapping into 2025?
Yeah, I think it's definitely overlapping more into 2025
or even further.
We are still super early.
I couldn't agree more with you, you know,
because just as a comparison,
let's take a look at the V2 games.
I mean, they were building Cyberpunk for eight years
and still needed like two to three years
to finish it up.
Same with Baldur's Gate,
which now won game of the year.
They were in like closed alpha for a couple of years
and it resulted in like six or seven years
of total building of like this perfect,
perfectionalized game, et cetera.
So I think we are definitely very, very early.
Lots of lessons to learn, lots of things to cook.
Yeah, interesting.
I didn't know that about Baldur's Gate,
but eight years has a damn long time.
You know, I wasn't even into crypto
or NFTs eight years ago.
Eight years ago, Ethereum did not even exist.
So that tells you everything you need to know.
It takes a long time, a lot of money
and also a lot of people to develop a finalized game,
you know.
So maybe I've got a counter question on that.
You know, do you guys think the first,
let's say the first one million user game,
do you think it's going to happen on mobile,
desktop or even possibly console?
What do you think on this one, Metropolis?
That's a really good question.
If I had to bet, I would say mobile.
I would just go with the current trends.
And again, you know, I'm not a gaming expert,
so I don't know the data,
but from what I hear and from spaces I've been in
and talking to people,
I do think mobile is where there's a lot of adoption
currently from the gaming side.
Okay, interesting, interesting.
I don't want to give my thoughts.
I'm going to pass that one around.
Larry, what do you think?
You guys are building from mobile first,
so maybe you will have a biased opinion,
but what do you think?
Yeah, I think definitely mobile
because if you've managed to build a playable game,
which is, you know, actually playable
and suited and accessible to anyone,
so with mobile, it is way easier
to acquire traffic via regular marketing campaigns
like user acquisition campaigns on Facebook, Google, etc.
Plus you have all the web free hacks
and community that probably supported the game
if it's already saw the daylight.
So I think definitely mobile
because PC games, you know,
they are usually specific.
They're harder to promote
and to reach one million
only from the free audiences
could be a pickle.
Yeah, it could be a pickle.
That's a good expression.
I like that.
Yeah, I tend to agree with what you're saying here.
What about you, Mojo?
Or Planet Mojo?
Yeah, we go by Planet Mojo.
So our pronouns are Planet and Mojo.
Well, anyway, I would say that the data doesn't lie
and the data definitely points us
in the direction of mobile gaming.
That's where we are betting here at Planet Mojo at first,
even though we're not limiting ourselves to mobile only.
But there is, like, as I said,
data doesn't lie
and there's many more mobile gamers
rather than people that, you know,
have a big bulky PC to play with
or, like, people that, you know,
bother buying a console only to play, right?
Because if you think about it,
well, like, if you're talking about PC or console,
a PC is way more versatile.
So you're going to have, in theory,
more people leaning towards buying that
rather than a console that you use just for playing.
But when it comes to a mobile phone,
well, pretty much everyone has it, right?
And I would say if we want to talk about mass adoption,
most likely it's going to come from that.
Yeah, another interesting take
and that just reminds me of when I think it was for Diablo 4 release.
You know, one of the big guys at Blizzard said,
you know, they announced the game
and everybody thought it was going to be on PC
and then the game was on mobile
and the guy was just like,
wait, you don't have a phone?
Go buy a phone, you know?
So I think that is definitely the mobile gaming scene
that is going to come first, you know?
For sure, for sure.
Okay, so I guess, you know,
we're just five minutes away from the end of the space
so I don't want to hold you guys for too long.
But maybe my last question would be around
the use cases of NFTs
and specifically beyond PFPs, right?
What are the use cases of PFPs,
maybe in gaming and beyond that as well?
You know, it's an open question.
Are you bullish on in the near future?
So, Metropolis or Rashid,
I'll pass that to you first.
Yeah, totally.
I mean, just to give a different perspective,
for us, it's very much around commerce
and creator economy.
So it's a way for brands and creators
to monetize where the NFTs are tied
to exclusive products, content and experiences
in the real world.
So really think of that as unlocking
exclusive stuff from creators and brands
and a way for creators and brands
to reach new audiences,
have a new way to monetize.
And so that's, for us,
one of the things that just taking
the gaming bit to the side
that we're quite bullish on at Metropolis.
Yeah, really good.
And I think as soon as you mentioned monetization,
people's ears are like tingling,
you know, so I concur with that.
What about you, Planet Mojo?
What use cases of NFTs excite you
beyond the PFP model,
maybe in gaming or beyond?
Well, I would say that there's things
that are basically proven and tested
and things that work
and that we know that get people excited.
Well, I know first off,
get me excited, right?
When it comes to assets
and being able to trade freely
and it's basically the next step,
it's like it's the evolution
of what we've been doing in gaming so far.
But when it comes to NFTs in gaming,
the potential is so broad
and I am sure that so many things
will be brought out
in the following months and years
that we cannot even imagine right now.
And for us at Planet Mojo,
NFTs are a way to first off
reward our community, right?
Give them a say in our ecosystem
and reward them for being there for us
and reward them for taking part,
taking an active participation
in our ecosystem,
in the decisions that need to be taken.
So use cases around community
and around engagement
are definitely something that interests me
and it's definitely something
that we are doing here at Planet Mojo.
Yeah, that's a good one around,
especially around community building.
I think it's not something
we've mentioned before as much.
So yeah, I do appreciate that.
Larry, you are the last man
standing on this question.
Yeah, so I have two takes on this.
So from blogging side of things,
we use NFT as a key to our utilities,
to participate in whatever
bloggames ecosystem
and bloggames plan network
has to offer to the community.
At first, it had a utility
of getting early into bloggames
through our the play app.
Now it has other utilities
going with the TGE
and it will have other utilities
later on considering seasonal passes
and all the other stuff
instead of just being a PFP.
But from my personal point of view,
I still think that PFPs are cool.
I would love for NFT art
to finally find place and better shape.
I know it has a place.
I mean, what I'm talking about,
but to find a better place
and to emerge,
to have more artists and prosper.
So, yeah, many cases.
You sound like a man of the people,
saying all that, you know,
good stuff, art, artists.
And yeah, I love it.
I love it.
So I definitely appreciate that.
And I'm sure if there is an artist
in the audience,
they will give you an automatic photo for that.
But guys, we are at the end of the hour.
So really, I want to thank everyone first in the audience.
You took the time out of your day to listen to us
and we appreciate you.
And of course, everyone on stage.
That was a fantastic conversation.
I want to thank you, Planet Mojo,
Larry from Blog Games,
Rashid, and...
Sorry, I forgot your name,
who's behind the account at Metropolis.
But let's just say Metropolis overall.
And I'm going to give you at Metropolis
the chance to round it up.
You know, if you have any...
I don't know, if you want to spill some alpha,
of course, you're welcome.
Otherwise, I'll just give you
the closing round on today's hour.
Sounds good.
I think just from Metropolis,
we have a lot coming in the next few weeks.
A lot of information on our token.
A lot more drops,
avatar drops in the marketplace.
So yeah, stay tuned.
Thank you for joining.
All right.
Thank you, everyone, for tuning in.
We will see you for another space very soon.
Stay tuned.
Keep the notifications on
and have a good evening.
Bye-bye.
We'll see you next time.
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