I don't think it gets to the billions of people playing games necessarily, I think it's just maybe like a new genre, but it's niche and it's small. Play to earn to me always felt like an oxymoron, like, you don't want to go to work and earn money in a game. You're there to have fun. And we haven't really discovered that yet because the industry is very resistant to that kind of behavior. But over time there's going to be some velvet ropes set of activities or items that will live on the blockchain saying like, okay, I'll do the web to thing and I'll just pay the publisher and they ultimately own it.
The gaming industry has seen massive innovations in the past two decades, from the rise of online gaming to the release of unprecedented virtual reality (VR) products. And in that time the industry has seen massive growth, going from an estimated $30 billion a year worldwide at the start of the twenty-first century, to generating an astounding $200 billion in 2022. Joining us today to discuss the business of gaming in 2023 is Angie Dalton, an advisor for ARK Invest and the CEO and Founder of Signum Growth Capital, and Joost van Dreunen, an academic, entrepreneur, and a well-known expert in the video game space. Tuning in you’ll hear a breakdown of how the gaming industry has developed over the past two decades, the ever-useful role of user-generated content in gaming, and how gaming studios are adapting to changes in the space. We take a look at how platforms and game engines like Roblox and Unity are making it easier than ever for users to generate content and how studios are leveraging amateur output to keep up with demand. Our conversation also covers how blockchain technology and Web3 could add value to the gaming space, the shifting relationship between gaming and other forms of entertainment, and the most promising use cases for VR and augmented reality (AR). To learn more about the fascinating business of gaming and upcoming developments in this space, be sure to tune in today!
Key Points From This Episode:
- Introducing today’s guests, Angie Dalton and Joost van Dreunen.
- Joost’s expertise in gaming and his work as an academic, advisor, and entrepreneur.
- How the gaming sector has grown and developed globally over the last two decades.
- The history of user-generated content in gaming.
- Why so much innovative gameplay comes from user-generated content.
- How studios are leveraging user-generated content to keep up with demand.
- The concept of forever games and how studios are shifting their models to build community and keep users engaged.
- An overview of the elements driving the rising trend in user-generated content.
- The shifting relationship between gaming and traditional entertainment, like television.
- Why AAA games take so long to develop and Joost’s predictions for a more iterative release model.
- Joost and Angie’s top takeaways from the latest Game Developers Conference (GDC).
- How blockchain technology and Web3 could add value to the gaming space.
- The drawbacks of the play-to-earn model in Web3 games.
- Joost’s reservations when it comes to blockchain and Web3 applications in gaming.
- Key problems in the gaming industry concerning the recognition of labor.
- Navigating issues of copyright when it comes to user-generated content.
- The concept of an open metaverse, interoperable virtual worlds, and how likely these scenarios are.
- Our thoughts on Apple’s upcoming move to enter the VR space.
- The strong case for enterprise applications when it comes to AR and VR.
- Find out about Joost’s new venture Aldora.io and what they are currently working on.
