The CoinSpeech team collected the most important takeaways from Paul Barron’s recent appearance. In his video, Barron dives into the future of Web3 gaming, trends in cryptocurrency adoption, and how new technologies are shaping the gaming landscape. You can find Paul Barron’s new video below.
Growth in Cryptocurrency Adoption
Paul Barron notes significant growth in cryptocurrency ownership among American adults. “40% now of American adults own crypto,” he states, which marks a 10% increase from 2023. Notably, 63% of people hope to obtain more cryptocurrency in the future. This escalating interest in cryptocurrency sets a promising stage for Web3 gaming.
Challenges and Innovations in Onboarding
Onboarding remains a critical hurdle, with 90% of users dropping off during wallet creation. Andrew Silbert, co-founder and CTO of Miran, emphasizes the need for user-friendly interfaces. He mentions Phantom as an example, noting, “it looks so damn friendly…very clean, bold, and uncluttered interface.” This user-centric approach can help retain new users entering the Web3 space.
Hybrid Development Ecosystem
When discussing game developers, Silbert mentions a blend of Web3-native studios and Web2 companies that are gradually entering the space. He explains, “there’s absolutely the sort of Hardcore studios that were founded with Web3 in mind,” but also sees an influx of “crypto-Web3 curious” developers. This mix is crucial for the sustainable growth of the Web3 gaming ecosystem.
Interoperability – The Holy Grail
The vision for an interoperable future in gaming is a major focus. Silbert calls interoperability “one of the North Star sort of the Holy Grail of the Web3 space.” However, he acknowledges the challenges in adopting universal standards, pointing out that technologies like Unreal Editor for Fortnite could pave the way for broad interoperability among games.
AR, VR, and AI Technologies
Extended Reality (XR), including VR and AR, are also integral to Web3’s future. Silbert highlights how advances in AI could enhance XR experiences. He discusses AI’s potential to improve user experience through “super sampling…to be able to get the images in faster to the device.” This blend of technologies promises an immersive and dynamic gaming experience.
Regulatory Impact on Web3 Gaming
The EU’s Markets in Crypto-Assets (MiCA) regulation could significantly impact Web3 gaming. Silbert is optimistic, suggesting that regulation “lends legitimacy which gives confidence to the space,” potentially leading to a flourishing market. This environment could foster innovation and stability in Web3 gaming projects.
Below, you can watch Paul Barron’s new video discussing these exciting developments in Web3 gaming: