Home CryptocurrencyBitcoin NFT Steez and Cryptoys CEO discuss the future of toys and entertainment on Web3

NFT Steez and Cryptoys CEO discuss the future of toys and entertainment on Web3

by SuperiorInvest

This week, NFT Steez sat down with Cryptoys founder Will Weinraub to discuss the current role of play and toys as they integrate with non-fungible tokens and Web3 as a whole.

Weinraub believes that the act of play is “not limited to children” and that as adults “we still crave the element of play throughout life.” According to him, “the game has evolved” through the development of technology. NFTs, especially in gaming, have highlighted this layer of ownership through play.

Weinraub and Cryptoys theorize that “adults are just looking for ways to feel like kids again.” Weinraub kept the question of “how the game evolves” at the forefront, saying that this is a fundamental principle of his experience with game development.

From action figures to watching his kids build virtual worlds in Roblox, Weinraub emphasized how profoundly the Internet has catalyzed the evolution in play and gaming. According to him, players are no longer limited by the boundaries of their neighborhoods or geographic locations.

Weinraub emphasized that the gaming content is “very, very, different” and leans more towards “social gaming” compared to gaming of previous decades, regardless of geographical barriers.

When asked about concerns about the comfort level of children and young adults with their digital interactions as opposed to their real-life social interactions, Weinraub acknowledged that the situation exists. However, he said that while it may “hit some people, it can also amplify it”.

The evolution of gaming appears to be turning toward “more social play” and in many ways could be designed to “enhance communication skills,” Weinraub suggested.

The future of games and cryptocurrencies

When asked about the role of in-game cryptocurrencies and tokenomics in blockchain gaming, Weinraub said he firmly believes they are “an important foundation of blockchain gaming.”

The level of “exuberance” was evident when the play-for-profit models were first created and tested, and Weinraub praised the pioneers who initially navigated these uncharted waters. The sector is likely to create “very fertile ground” over the next year, and Weinraub believes that eventually “token economies will relaunch and play in a much healthier and more sustainable way.”

Related: Crypto Unicorns Founder Says P2E Gaming Is In Long ‘Maturation Phase’

When discussing in-game tokens and their current use, Weinraub pointed out how the current state of the “Web3 economy is based on tokenization.” As for the next generation embracing and interacting with tokenization and ownership, Weinraub described how it’s “incredibly important and in the right way.”

To hear more of the conversation, tune in and listen to the full episode of NFT Steez on Cointelegraph’s new podcast site or on Spotify, Apple Podcasts, Google Podcasts or Tune in.

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