Myspace Founder Predicts Blockchain Gaming To Be ‘Dominant Place’ For Socializing

Chris DeWolfe, the former CEO and founder of Myspace, believes that “play-to-earn” is the future of gaming.

While many gamers are skeptical of blockchain-based gaming, Chris DeWolfe, co-founder of Myspace, believes it will catch on because the economic model inherently gives players better control over their in-game experiences.

According to DeWolfe, who is now the CEO of game production firm Jam City, “the quality of the game and how developers interact and engage with players to set expectations” could eventually sway skeptics’ minds.

The former CEO of Myspace also compared Web3 gaming to the early days of Web2. Many analysts were suspicious of Web2 advertising and business strategies, according to DeWolfe:

“They also weren’t sure about the quality of user-generated content and if it would be interesting, so there were naturally concerns over adoption. However, MySpace is really a perfect example of just how powerful user-generated content would become.” 

Similarly, while there is skepticism regarding the current level of gameplay and adoption rates in blockchain games, DeWolfe believes that the sector will thrive as games become more engaging and interesting:

“It’s early days, but we are encouraged by what we’re seeing and confident that blockchain games will continue to gain traction if they are interesting and fun to play.” 

Jam City debuted its blockchain division in 2021, and the blockchain game “Champions: Ascension” was released. According to DeWolfe, the game places a strong emphasis on community interaction, including one of the most active players in the game’s lore.

DeWolfe also believes that in the future, blockchain-based entertainment will be a dominant platform for sociability and commerce. “We predict it will be the dominant place where we all socialize, be entertained, and conduct commerce,” DeWolfe predicted.

Sega, meanwhile, is aiming to integrate nonfungible tokens in its Super Game project, which promises to connect numerous games. Cloud gaming and NFTs, according to Sega producer Masayoshi Kikuchi, are a “natural extension for the future of gaming.”

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