The future of crypto lies in gaming, according to Sandeep Nailwal, the co-founder of Ethereum (ETH) layer 2 scaling solution Polygon (MATIC).
Nailwal hosted a Reddit ask-me-anything (AMA) session on Thursday and Friday, answering questions about his project and the crypto space in general.
Asked about potential real-world use cases for blockchain, the Polygon co-founder said he believes gaming represents “the larger-scale opportunity for crypto.”
“And the game is embracing the new technology in the hordes. Some of the best games will be released on Web3 over the next 6-18 months and it would be very interesting to see if any of them are able to crack the crypto code. Last year itself, there was over $2 billion in funding for Web3 games. Polygon combined with its ecosystem players like ImmutableX (IMX) got the lion’s share in terms of funded games. I’m crossing my fingers that some of them will turn out great! »
During the AMA, another Redditor asked Nailwal why “the whole crypto industry [feels] like a scam and a waste of time?
The Polygon co-founder acknowledged that “90% of crypto tokens are scams,” but also pointed to some of the altruistic utility the digital asset space has provided in recent years.
“I also share your frustration that we haven’t created so many products that can add value to humanity, but there are a few things I’d like to share:
- The entire Defi (decentralized finance) space has created many financial primitives like decentralized exchanges, money markets, etc. which are currently maturing and will evolve as blockchain infrastructure evolves and becomes the norm.
- Whether it was Covid aid in India, war relief efforts in Ukraine, or earthquake relief efforts in Turkey, technology and the Crypto community were at the forefront and for quite a while it was the only way to channel money for relief efforts
- Many people in Africa and Latam (Latin America) today use USDT as a way to preserve their wealth against inflation in their local currency.
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