This year’s Proof of Talk conference held in Paris brought together key industry leaders to discuss the transformative potential of Web3 technologies. The “Unlocking Real-World Value in Web3” panel featured prominent figures such as the Chief Business Officer of Project Liberty Labs (Mickey Maher), the President and COO of Mythical Games (Arron Goolsbey), and KILT Protocol founder (Ingo Ruebe).
The panel emphasized shifting focus from speculative assets to practical applications that enhance user experience and offer long-term benefits.
Leveraging Gaming and Blockchain for Greater Value
Arron Goolsbey emphasized the significant role of the gaming industry in driving mass adoption of Web3 technologies. He described gaming as a “hero use case” for delivering tangible value to users, highlighting the industry’s potential to provide long-term benefits beyond speculative assets.
Goolsbey also emphasized its vast potential for creating tangible value for users on a large scale, with interactive entertainment being a notable example. Meanwhile, Mickey Maher opined that Web3 technologies are underutilized.
He noted that memecoins have a huge appeal and are currently in demand. However, there’s a need to utilize them for more significant applications of blockchain technology.
Focusing on User Experience
Maher urged the industry to leverage blockchain to create more applications that provide substantial value to users, similar to how Uber and Instagram have revolutionized their respective fields. The panelists collectively advocated for a user-centric approach to developing Web3 technologies.
Goolsbey highlighted the importance of enhancing user experiences in gaming, especially the need to prioritize players’ experiences.
Transforming the Gaming Model
Goolsbey discussed the transformative potential of Web3 in gaming, contrasting it with the traditional Web2 model. He explained that the current model is primarily consumption-based, where players pay, play, and leave with no residual value.
In contrast, the Web3 model, powered by blockchain, enables players to engage with games and curate and trade their assets safely and efficiently. He explained that with blockchain technology, gamers can have a more immersive gaming experience, where they can not only play and pay but also curate and own their in-game assets.
Thus, they can choose to share their accomplishments or sell their assets. Ruebe highlighted the importance of digital identity in Web3 applications.
He argued that robust digital identity solutions ensure security and trust in decentralized environments. Ruebe also emphasized the need for comprehensive solutions that address various aspects of user experience in Web3.
The Proof of Talk Conference
The insights the Proof of Talk 2024 panelists shared underscore the urgency of focusing on user experience and long-term value in the Web3 space. The emphasis on practical applications over speculative assets marks a significant shift in the Web3 landscape, shifting the hype from speculative crypto holding to real-world asset value. More importantly, this shift will likely drive the adoption of Web3 technologies in various sectors, including gaming and social media.