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Robby Yung, CEO of Animoca Brands, shared insightful perspectives on the future of gaming in the metaverse at a recent NFTUK event in London. He explored the concept of interoperability in the metaverse, particularly how it could empower Web3 games to execute strategies akin to DeFi’s “vampiric attacks” for expanding their user base.
Yung illustrated this idea using the scenario of racing games. “Let’s say we both make racing games and I have one with tonnes of players. There’s a huge opportunity for an indie to make another racing game and essentially—the DeFi people call it a vampiric attack—create utility for all those players,” he explained. This interoperability between in-game NFTs could allow newer games to tap into the user base of established ones, effectively creating a user acquisition funnel.
Addressing the concept of mutual benefit, Yung said, “If your players come to my game, and they enjoy using their cars in my game, then I create additional utility for your cars.” He emphasized the importance of a royalty infrastructure to ensure creators receive their due benefits from such transactions.
Yung acknowledged the complexities of achieving interoperability in gaming. He stressed the need for a collaborative approach among developers to foster a “community-led snowball effect.” Animoca Brands, as a founding member of the Open Metaverse Alliance, is at the forefront of these efforts.
Focusing on Animoca Brands’ strategy with The Sandbox, Yung noted, “Our feeling was that the important bit to be on chain is the registration of ownership, either of fungible in-game currency, or of the playable NFTs.” He highlighted the balance between centralized game logic and blockchain-based asset ownership.
He also commented on the evolving landscape of Web3 middleware, which has matured to a point where Web2 game developers can easily integrate blockchain elements into their games. Yung observed a trend of sophisticated, user-friendly gaming products emerging in the Web3 space.
Reflecting on the gaming community’s adaptation to Web3 technologies, Yung mentioned, “When Web3 titles offer custodial wallet solutions, with the Web3 component abstracted away in the backend, [gamers] are more than happy to embrace that.
Last week, Animoca Brands announced a new partnership with T&B Media Global to further expand its global NFT and Web3 reach.