At the 2024 Proof of Talk event in Paris, France, Mythical Games COO discussed the significance of gaming as a “hero use case” for delivering real value to users within the Web3 and blockchain domain.
In the evolving Web3 landscape, there’s a growing emphasis on providing tangible benefits to users. Industry leaders are calling for a shift from speculative assets to practical applications that enhance user experiences and offer long-term advantages.
At the Proof of Talk 2024 conference in Paris, a panel titled “Unlocking Real-World Value in Web3” featured Arron Goolsbey, president and chief operating officer of Mythical Games, Mickey Maher, chief business officer of Project Liberty Labs, and Ingo Ruebe, founder of KILT Protocol. They advocated for applications that prioritize user experience and long-term value.
The panelists agreed that this user-centric vision is poised to transform industries, particularly gaming and social media, by leveraging the robust capabilities of blockchain technology. Their insights collectively painted a compelling picture of Web3′s future potential to create real value for users across various sectors.
A “Hero” Use Case
Goolsbey expressed an optimistic “sky’s the limit” attitude, stating that it’s a “great time to be in the industry” when asked about the potential of gaming to drive the mass adoption of Web3.
“There is so much potential for us to produce real value for users in a mainstream capacity. Gaming and interactive entertainment are prime examples of this progress,” said Goolsbey.
Maher discussed the underutilization of Web3 technologies like blockchain, highlighting the trend of memecoin-centric conversations. He noted the proliferation of new memecoins representing various themes, from animals to political figures.
“Memecoins are fun and there’s a market for them right now. People enjoy trading them,” Maher said. However, he compared this niche aspect of the industry to an iPhone with only social casino apps, suggesting it significantly underutilizes the technology’s potential.
“If you equate the iPhone with blockchain, how do we leverage blockchain and smart contracts to create the Ubers, Instagrams, Snapchats, or Telegrams of this technology, rather than just social casino apps?” he questioned.
Value for Users
Maher cited Uber and Instagram as examples of applications that deliver immense value to users. These apps have proven highly beneficial, whether for sharing photographs, promoting small businesses, or providing convenient ride-sharing services.
Goolsbey emphasized that while Web3 technology is “amazing,” the focus now needs to be on providing value to the end-user. “We talk a lot about coins and wallets, but we don’t talk enough about the individual users and their experiences.”
In the gaming industry, those end users are the players, and their experience and the value generated from their play over time are crucial. “We believe the technology extends the durable experience of players on our platform for much longer periods,” Goolsbey said. “This is very beneficial for users, game developers, and content creators.”
Goolsbey pointed out that there are nearly two billion gamers actively participating in gamified economies, mostly in a Web2 world, which is primarily consumption-based. “I pay, I play, and when I’m done, I walk away from that investment because there’s nothing I can do with it inside the walled garden.”
In contrast, Goolsbey explained that in the Web3 space, using blockchain, this model can be transformed into “I can pay, I can play, I can curate.” He envisions a scenario where players can sell their game assets and experiences to others in a secure, curated “open garden” when they’re done playing.
Summary Review: The discussion at Proof of Talk 2024 highlighted the transformative potential of Web3 and blockchain technologies in delivering real value to users, particularly within the gaming and social media industries. By focusing on user experience and leveraging blockchain’s robust capabilities, the industry can move beyond speculative assets to create meaningful, long-lasting benefits for users. As Web3 continues to evolve, its success will hinge on its ability to offer tangible, user-centric applications that enhance everyday experiences.
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