The future of cryptocurrency is in gaming, according to Sandeep Nailwal, co-founder of Ethereum (ETH) Layer 2 scaling solution Polygon (MATIC).
Nailwal held a Reddit ask-me-anything (AMA) session on Thursday and Friday, answering questions about his project and the crypto space in general.
When asked about potential real-life use cases for blockchain, the Polygon co-founder said he thought gaming represents the “biggest-scale opportunity for cryptocurrency.”
“And games are adopting new technologies in droves. There are some of the best games that will be released on Web3 in the next 6-18 months and it would be very interesting to see if some of them can crack the cryptographic code. Last year there was over $2 billion in funding for Web3 games. Polygon combined with its ecosystem players like ImmutableX (IMX) got the most in terms of those games funded. Let’s cross our fingers that some of them make it big!”
During the AMA, another Reddit user asked Nailwal why “the entire 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 utilities that 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 a lot of financial primitives like decentralized exchanges, money markets, etc. which are currently maturing and will scale as blockchain infrastructure scales and becomes the norm.
- Whether it was the Covid relief in India, the war relief efforts in the Ukraine, or the earthquake relief efforts in Turkey, technology and the crypto community were at the forefront and for a good amount of time it was the only way to channel money for relief efforts.
- Many people in Africa and Latam (Latin America) are using USDT today as a means of preserving their wealth against inflation in their local currency.”
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