‘Play-to-Earn Reason Behind Gamers Hating Crypto,’ Claims Atari Founder

E-sport platform Moxy’s Chief Knowledge Officer, Nolan K. Bushnell, and the founder of the major console game company, Atari, is bullish on Web3 gaming. However, he argues that play-to-earn games are the reason behind gamer’s “disdain” for crypto.

Bushnell revealed back in August that the Web3 gaming platform is exploring Hong Kong for its entry into the Asian market. Consequently, Bushnell, along with Animoca Brands Co-Founder Yat Siu, ConsenSys Head of International Expansion Laura Shi, and Cognitive Systems Lab Founder Eberhard Schoneburg, spoke about the future of gaming at a conference organized by Cyberport Hong Kong.

During an interview, Bushnell asserted that the Web3 gaming industry needs to shift its focus from play-to-earn and create immersive virtual worlds featuring VR and AR technology. Moreover, Bushnell emphasized that the virtual realm should concentrate on the human need for socialization. He underscored that transforming gaming into a platform for competition is a game changer, which can only be achieved via effortless and secure fund transfers.

According to Bushnell, the utility of smart contracts plays an important role in modern gaming by establishing relationships and related terms. The ability to securely store the value of digital assets in the form of tokens will also drive the transformation of the current gaming sector. For these reasons, Bushnell has been a big supporter of Moxy, which he defined as,

“Imagine the best gaming hangout where you level up, earn rewards, and join a community with other gamers. It brings back the experience of being in an arcade and putting your quarter in the machine.”

According to a recent study, gaming tokens are dominating the crypto landscape, with a combined market capitalization of $7.4 billion and a 24-hour trading volume of $682 million. Moxy has already launched its gaming token, $MOXY, which allows gamers to win rewards and participate in e-sports tournaments.