Predictions for Web3 Gaming in 2023 - FOGcast #26 | Special Guest: Ste Curran

Name: Predictions for Web3 Gaming in 2023 - FOGcast #26 | Special Guest: Ste Curran
Uploaded: 2023-01-03T11:32:56.000Z
Duration: 1 h 52 min 15 s

Introduction

In this section, the hosts introduce themselves and their guest for the episode. They also provide some background information about their radio show.

Devin Becker and Phil Collins join the host for the episode.

The host introduces Steve, a guest with experience in speaking into a mic and broadcasting to millions of people's homes.

The host mentions that he has been sick for a week and talks about his experience at CrossFit.

Predictions for 2023

In this section, the hosts discuss their predictions for web3 gaming in 2023.

Devin's Prediction

Devin predicts that 2023 will be the year when we stop separately calling it web3 gaming and just call it gaming.

He thinks that 2023 will be a rough year because it will be slow for web3 gaming in general. Many games are likely to come out because they are running out of money or happen to actually be finished.

Other Predictions

The hosts discuss other predictions related to web3 gaming, including NFT integration, blockchain adoption, and more user-friendly interfaces.

They also talk about potential challenges facing web3 gaming, such as scalability issues and regulatory concerns.

Web 3 Gaming Predictions

In this section, the speaker talks about his predictions for web 3 gaming in the upcoming year.

Expectations for Next Year

The speaker believes that there will not be a groundbreaking game next year and that it will be a slow year from an outside perspective.

However, he expects to see some interesting iterations on the economy design.

He predicts that there will be many failures but also inklings of ideas that work out.

Companies in this space are running out of money and are going to desperately put stuff out, which is probably good for the space in general.

Bubble in New Technology

In this section, the speaker discusses how every new technology has a bubble where people dive in without necessarily thinking about what they're going to make.

Bubbles and Niches

There's a bubble as there is in every new technology when people see the money and dive in without necessarily thinking about what they're going to make.

A lot of those people have to come in and then drop out again for there to be a center of that technology where the real work is going to take place.

The real work focuses on two areas: niche projects which really only appeal to technologists and brave explorers, and slightly weird stuff which is never going to catch on because it may be slightly unfinished or visually too weird but inside those are interesting mechanics that people take into mainstream games.

People who generally navigate around new technologies have been put off blockchain because they hate it so you have very few gameplay explorers putting out these kind of niche things but some of them will catch on and break through.

Blockchain Gaming and Web3 Gaming

In this section, the speaker talks about blockchain gaming and web3 gaming. He explains that there are companies exploring these technologies, but also mentions that some parties who wouldn't necessarily have a pro-blockchain stance may start using blockchain to solve problems not related to game design.

Blockchain Gaming as a Thing

Blockchain gaming is slowly creeping into bigger games.

Companies are not positioning themselves as "web3 gaming" companies, but rather people are looking at the cool stuff that this technology can do and taking ideas from the abstract and slowly putting them on the surface.

There are uses for the tech that just do boring stuff like registration or account details or keeping track of small objects.

Non-Pro Blockchain Parties Using Blockchain

Many more parties will start using blockchain to solve problems not related to game design.

Solutions inside blockchain may give different possibilities in the future and may prove easier in some respect.

Difficulty with Calling Games Web3 Games

Once blockchain starts solving problems or allowing for solutions that couldn't exist before, we're going to have difficulties with calling games web3 games or non-web3 games.

Interest in Web 3 Applied to Game Design

People attending this talk are interested in web 3 applied to games and game design.

Future of Web3 Gaming

In this section, the speaker discusses the potential growth of web3 gaming and how it may not necessarily replace traditional gaming. The discussion also touches on the idea that people may be using web3 technology without realizing it.

Potential Growth of Web3 Gaming

The speaker predicts a stealth 2x growth in web3 gaming by the end of next year.

Obfuscation of technology may lead to people using web3 without realizing it.

Die-hard users will remain, but there may be a decrease in obvious usage over time.

Web3 Gaming vs Traditional Gaming

The idea that web3 gaming has to reinvent everything is a red herring.

Web3 gaming does not have to replace traditional gaming; it can coexist with other forms of gaming.

New forms of games will be added, but no form of game will be replaced.

Difficulty in Predicting Growth

It is difficult to predict growth because engagement with technology varies, and what constitutes a game is subjective.

The Future of Video Games

In this section, the speakers discuss the future of video games and how they evolve over time.

The Evolution of Video Games

The evolution of video games is constant and unpredictable.

Designers are always looking for the next big thing in traditional video games.

New things are built by mixing existing technologies together to create something new or interesting.

Predictions for Blockchain Technology

India is predicted to be a dark horse in blockchain technology due to its highly educated population.

Asia, in general, is predicted to go big in blockchain technology, but it may not be widely known due to language barriers and cultural differences.

Conclusion

The speakers predict that video games will continue to evolve unpredictably. They also predict that India and Asia will become significant players in blockchain technology.

The Future of Video Games

In this section, the speaker discusses the future of video games and how different cultures may impact the success of certain games.

Cultural Differences in Gaming

Not all games will make their way to other countries due to cultural differences.

Western audiences may find some games too complicated or not culturally acceptable.

MOBAs are an example of a game that has been adopted more by non-first world countries than Western audiences.

Games that are popular in Japan may not be as successful in Western markets due to cultural differences.

Traditional Gaming Companies vs. NFT Space

Traditional gaming companies in Japan are starting to dabble in the NFT space.

Japanese gaming companies are not facing pushback from the NFT space like Western gaming companies are.

It is unclear how much interest there will be in traditional gaming companies' ventures into the NFT space.

Trading Card Based Arcades

Trading card based arcades still exist in Japan and have been around for almost two decades.

Sega's first blockchain game is based on a trading card arcade game.

Overall, this section discusses how cultural differences can impact the success of video games and how traditional gaming companies in Japan are exploring new ventures such as the NFT space. Additionally, trading card-based arcades continue to be popular in Japan and have even inspired Sega's first blockchain game.

Ownership of Game Assets

In this section, the speakers discuss how ownership of game assets is a core interest for players and users in Japan. They also talk about the cultural differences between Japan and the West when it comes to collectibles.

Interest in Ownership of Game Assets

Players in Japan are interested in ownership of game assets rather than the technology behind on-chain games.

The trading card arcade business has shown that ownership of game assets is an important market.

Japanese creators are dropping content NFT collections for use in games.

Cultural Differences

Collectibles are a big part of Japanese culture, and collaborations between different collectibles are common.

It can be difficult to find information about trading card arcade games unless you search using Japanese characters.

There is a technological culture gap due to language barriers, but creative Western developers who understand cultural differences could translate these principles for Western audiences.

Involving Community in IP Creation

In this section, the speakers discuss how involving players and users into IP creation can be productive. They predict that we will see new platforms built around this concept by 2023.

Involving Community in IP Creation

Some businesses are trying to involve communities and players into IP creation.

In 2023, there may be cases where players and users are productively involved in IP creation, which could spur new platforms built around this concept.

Communities have incredibly creative people involved who can find their own creative outlet through being enabled by having control over an IP.

Democracy and Community Involvement

In this section, the speakers discuss their views on democracy and community involvement in creative projects. They explore the idea of creating a vision and sticking to it while still allowing for unpredictability.

Creating Something Unique

The speakers believe that creating something unique requires a core group of individuals with a shared vision.

They argue that involving everyone in the creation process leads to average outcomes and predictability.

However, they acknowledge that involving communities in IP creation can lead to unique implementations such as 555 Comics' use of social media to tell stories.

Managing Community Feedback

The speakers discuss how listening to community feedback can be challenging when making bold moves such as killing off favorite characters.

They note that vociferous members of the community may threaten to leave or hate the company for making unpopular decisions.

However, they suggest embracing fragmentation as a natural part of democratic systems where unhappy individuals fragment off over time.

Embracing Fragmentation

The speakers argue that embracing fragmentation is desirable because majority rule often leaves many people unhappy.

They suggest that opening up IP creation to communities will lead to pockets of fan bases around individual things, which is a natural part of democratic systems.

Embracing the Evolution of Community-Created Content

In this section, the speaker discusses how community-created content should embrace fragmentation and not try to keep everyone in one box. They also talk about the limitations of voting systems and how embracing cyclical fragmentation can lead to better results.

Embracing Fragmentation

The evolution of community-created content should embrace fragmentation.

Don't try to keep everyone in one box.

Embrace cyclical fragmentation.

Limitations of Voting Systems

Voting systems are limited by majority rules.

One size fits all democracy stuff doesn't work.

Examples from RPG World

Dungeons & Dragons has a controlled license, while Mark Borg has an open license.

Creating your own thing is somewhat based off a rejection of the thing that's already there, leading to fragmentation.

The RPG world has embraced UGC and selling a system or platform for creating content.

Unchained Gaming Predictions for 2023

In this section, the speaker talks about their predictions for Unchained Gaming in 2023 and how it will become more popular among builders.

Unchained Gaming Predictions

Unchained gaming will be more popular among builders in 2023.

There may not be mass adoption but more people will be excited by it and start building on it.

The Future of Web3 Gaming

In this section, the speakers discuss the future of web3 gaming and how it will become more mainstream over time.

Early Adoption

The speakers believe that web3 gaming is still in its early stages.

They predict that the mentality around web3 gaming will change and it will become more accepted over time.

While only a small percentage of people currently care about web3 gaming, there are tiny dots of interest that will grow over time.

Coolness Factor

The speakers discuss whether or not web3 gaming will ever be considered "cool."

They agree that while it may never reach the level of coolness as seen with internet nerds during the dot-com boom, it will eventually become more widely accepted.

One speaker predicts that 2023 may be the year when web3 gaming becomes more mainstream.

Optional Integration

The speakers discuss how web3 technology is currently optional for many games and apps.

They predict that there will be a gradual integration of web3 technology into existing games and apps rather than a sudden shift.

Mobile games are expected to lead this integration, with some already allowing for participation from web3 users.

The Future of Digital Collectibles

In this section, the speakers discuss the future of digital collectibles and how they may become more mainstream in the coming years.

Digital Collectibles as a Disguised Aspect

Digital collectibles can be a disguised aspect that people don't realize they are engaging with.

As people become more familiar with digital collectibles, they may start to appreciate them more.

Steam Marketplace and CS:GO Skins

The Steam Marketplace was initially met with skepticism but has since become widely accepted.

CS:GO skins were popular for a while but have since lost their appeal.

On-chain Technology and AI

On-chain technology will likely remain popular among certain groups, such as underground gaming clubs.

AI is becoming increasingly popular and may soon replace blockchain as the next big thing in tech.

The Future of Gaming

People will continue to experiment with on-chain technology and AI in gaming over the next year.

There is no clear consensus on what the future of gaming will look like, but it is likely to involve both on-chain technology and AI.

Overall, the speakers believe that digital collectibles will become more mainstream in the coming years, although there is still some skepticism surrounding their use. They also discuss how on-chain technology and AI are likely to play an important role in shaping the future of gaming.

VC Funding and Runway

In this section, the speakers discuss the current state of VC funding and how it affects startups. They also talk about the importance of having a long runway for startups to succeed.

VC Funding in Crypto Space

Many projects funded during the last Bull Run in the crypto space are seeing the end of their runway.

The speakers expect to be made fun of as VCs for funding these projects.

The speakers mention that they are happy to invest in Boomers who are extremely conservative.

Importance of Long Runway

Startups need time and space to build, which is going to be crucial for companies in that space over the next few years.

Allowing oneself time to learn from others' mistakes and watching where an industry is heading is important.

Not everything has to change the world; some things just have to improve it a little bit. Startups should focus on improving something rather than changing everything.

Having a long runway is essential for startups, as it allows them time to make mistakes and learn from them.

Dinner with Founders

In this section, one of the speakers talks about his experience at a dinner full of founders before Christmas.

Dinner with Founders

One speaker had dinner with Nico before Christmas, which was full of founders.

Some people got sick at the dinner, but vegetarians like him did not.

Nico introduced Steve as someone who has a beautiful amount of runway, which the speaker found a bit nagging.

Anxious Emails from VC

In this section, the speakers talk about receiving anxious emails from VCs after FTX and the importance of having money in a bank account.

Anxious Emails from VC

One speaker received slightly anxious emails from VCs after FTX.

The VCs were checking where his money was, and he replied that it was in a bank account where Boomers like them should put their money.

Spicy Takes Deep Dives

In this section, the speaker mentions that they will be back with spicy takes deep dives next year. They also mention that Steel will talk about technology and what he is doing with it.

Weekly Town Square Meetings

The speaker mentions that they have started doing weekly town square meetings where they discuss various topics.

Listeners can ask questions and get answers from the speaker during these meetings.

The meetings are held on Discord, so listeners need to join the Discord server to participate.

The speaker encourages listeners to leave a like or good rating if they enjoyed the content and want to support them.

With this, the podcast for this year comes to an end.