Web3 - The Next Evolution in Gaming - TOKEN2049 Dubai 2024

hello everybody my name is me I'm the founder and CEO at Alura today I'm going to be talking to you about web3 gaming and its potential to revolutionize the gaming industry before we get into that I'm going to speak a little bit about myself so I've been programming for the last seven years I'm a software engineer through and through and I've been playing a a lot of video games throughout my childhood I have over 3,000 hours in Counterstrike Global Offensive one of the biggest firstperson Shooters in the world Counter Strike has in-game assets that sometimes can be valued at over $40,000 and as a child these assets blew my mind I couldn't believe that players were spending so much money on digital items just to sell them and trade them around to each other I attended the University of Toronto for computer engineering and I dropped out first year to start Altera so let's touch a little bit about the gaming indust let's touch a little bit about the gaming industry the gaming industry is one of the largest Industries in the world it's worth over $246 billion for scale the movie industry is worth 97 billion and the music industry is worth1 billion this makes the gaming industry twice the size of the movie and music industry combined on top of that there are over three billion gamers in the world that's almost half the global population what does this mean this means that billions of people are already very comfortable and familiar with digital assets and transacting them this indicates a market ready for web 3 so let's talk about web 3 gaming web 3 gaming shouldn't be the sole focus of video games nobody really plays games for the technology that's in the game people play video games cuz they're fun they're entertaining and they want to play the game us at Alura believe that the purpose of web 3 in gaming is to um on it's it's to enhance the gaming experience as opposed to creating a game solely for the focus of blockchain we believe that what web 3 is is essentially the best framework for creating more Dynamic Global digital economies in video games we believe that web 3 is the best toolkit for creating free markets in the digital space entrepreneurs no longer have to rely on using payment processors on uh relying on thirdparty companies on services like steam taking a 30% cut instead they can use a framework in technology that's already available to that allows for creating the best types of games that allow for the best types of asset trading Entre so a common question that we often get is when are we going to see web 3 games actually flourish and we are talking with some of the largest teams in the space teams with actual funding solid background strong strong uh top tier talent and these games are on the precedent of launching and coming to Market if any question if anybody has any questions about web 3 or the gaming space happy to take them now Tanner [Music] separates Al yeah absolutely so one of altera's key competitive advantages is its interoperability um so our sole focus is to make sure that developers have the freedom to build whatever kind of game they want we don't want developers to be locked in and constrained based on the blockchains that are out there or the type of technologies that are out there um so one of our biggest values is ensuring that developers have the ability to build on any blockchain and the ability to use any tools in the space um so our platform and all of our products uh essentially work with all other web 3 gaming infrastructure products very seamlessly um so this makes it such that if a company chooses to use Altera they're not constrained within our ecosystem um but they can use our products alongside other products in the space testing Tes um hey Mees big fan thank you um I heard you guys use dynamic nfts or smart nfts uh what is a smart nft absolutely so a smart nft is an nft that can change um essentially the current state of nfts is static so if you think of a board ape the image never changes but in video games we need these assets to change so for example uh if you have a car and you want to spend money to upgrade that car you didn't expect to get a new nft um you expect that asset to change and so Altera provides the technology and functionality for developers to enable that kind of change in the asset so whether that's the image the properties Etc uh a smart nft is an nft that evolves and changes uh with the games uh with the players experience in the game yeah yeah thanks uh for answering I actually have a question a little bit about Community I know like uh Krypto is a small village let's say and everyone tried to fight for the community and then looking for developers gaming groups and Etc do you feel like you also have issue with Community I mean do do you do you see how we can grow the community to have enough for each project the alterist community or video games communities video games so than I believe that a games Community solely relies on how fun that game is um so I think that the best way to grow a community is essentially to build a really good game and uh present the benefits and the reasons why players would want to play that game uh so I don't think there's any way around it um you just build a good game and and present the the value that that adds to players any any other questions first of all there's lots of Ls on the counter strike you don't look that old um so if you would be um Counter Strike in web 3 what would that be like compar what would Counter Strike in web 3 be like that's right yeah absolutely so the assets themselves would be nfts I think it's pretty simple um but the difference is that these assets would be able to be traded globally and for free or very little fee as opposed to needing to go through Steam needing to go through different uh payment processors uh all different kinds of web to Technologies instead it's going to be uh democratized and on the blockchain uh and and the appeal of that is that the assets are uh essentially owned by the player um that's you know one of the the key advantages of of web three gaming um and blockchain technology in and of itself we believe is a much Superior and better technology to use for building free markets as opposed to traditional web 2 systems