The Can’t Be Evil NFT Licenses, the Merge, Future Of On-Chain Gaming, and more

The gaming space is not ‘singular’ anymore

Sep 07, 2022

We see the change in web3 game narratives from ‘Play-to-earn,’ to ‘Play-and-earn,’ to ‘Play-to-own,’ and now ‘Free-to-earn.’ This reminds us that the space is still evolving and have yet to find its north star.

In a recent Naavik’s podcast, Gabby, the co-founder of Yield Guild Games, said the following:

“Players who were playing the games primarily as a way to earn income(referring to Axie Infinity players) have moved on, but players who are here because they want to get better at web3, they want to discover games or trying to upskill themself, they have stayed with us, and they have actually keep engaged even at the time of low earning, it probably means that being at the guild is not the primary way of earning income..”

I see this as a very noteworthy way to describe the current state of web3 gaming.

For the first time, the gaming space is not ‘singular’ anymore; it is the intersection of multiple domains, it needs DeFi, Tokenomics, SocialFi, and thus the space needs to move horizontally with the rest, and more so, the space also need to onboard expertise from other domains.

Kuzote Lohe

Researching on Web3, Gaming & Blockchain

The Can’t Be Evil NFT Licenses

The current NFT and even gaming ecosystem have significant ambiguity, legal risk, and lack of standardization regarding content production and sharing. In an attempt to overcome legal obstacles to sharing knowledge and creativity, a16z releases a set of free, public “Can’t Be Evil” Licenses. CBE was inspired by 20 years of work by Creative Commons.

This is a significant step towards production and scaling NFT adoption while enhancing its utility. While we aren’t sure whether this will have an impact like the Creative Commons in the online content production space, the licenses set the foundation to standardize the ecosystem to some extent, and future licenses can be iterated from this.

Read more: The Can’t Be Evil NFT Licenses

Everything You Need to Know About the Merge

In what could be one of the biggest events in crypto history since the genesis of Bitcoin itself. ‘The Merge,’ the event when the Ethereum blockchain changes from using Proof-of-Work (PoW) to Proof-of-Stake (PoS), is happening in just a week's time.

The second biggest blockchain by market capitalization, Ethereum, is by far the largest and most robust economic ecosystem in crypto. The security of all this economic activity will be changed from a PoW-based to a PoS-based economy.

With thousands of assets, applications, and smart contracts already built on top of the “general-purpose blockchain,” will merge with the special-purpose blockchain called ‘the Beacon Chain’; this event has so much to hold on the future of the crypto and web3 industry.

The Future Of On-Chain Gaming

Blockchain technology is evolving and innovating rapidly; we are seeing more solutions to the blockchain trilemma, balancing between security, decentralization & scalability. Layer 1 and 2 chains are evolving to lesser or even ‘near zero-gas fees,’ meaning gaming and other interactive content can be fully On-Chain.

As web3 games quest to solve ‘fun’ game place, we also need a better specific ‘wallet’ for gaming, better marketplace discovery, and better customizability and composability.

Read More: The Future Of On-Chain Gaming

Why Limit Break Raised $200M

In the most recent downpour of money, Limit Break raised a whopping $200M. This comes as shocking to many as the space continues to drag with the ‘bear market.’ Limit Break dropped 2022 NFT collections called DigiDaigaku, where each NFT functions like a factory for future assets, and they were sold for over 6168 ETH. According to the team, DigiDaigaku characters live in a mysterious world unknown to outsiders, but exciting details about their world will be revealed in time.

Limit Break changed the narrative of future gaming as “Free-to-Own” and even went on to call ‘F2P is dead’. To justify the large raise, it could be for a number of reasons; Experience builders with a large pool of talents and the right balance use of technology.

An Investment Outline for Web3 Games

One thing that makes web3 games inclusive is the possibility to engage with the game development from the very start, be it community building, token investment, or even directly involved with the game building through open source contribution. Web3 gaming, the intersection of gaming and finance, is all set for the next evolution of the online experience. As more and more builders come to this space, it is becoming more difficult to spot the right one to engage with, and even worst, we literally don’t know how the space will look when it evolves fully. Read this wonderful article on An Investment Outline for Web3 Games.

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I will write to you again next week; until then, happy building, gaming, and investing.

Kuzote Lohe

Researching on Web3, Blockchain at Librty

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