Every day, we hear of more involvement by big industry players (for example, Epic Games and Roblox) as we creep closer to the Metaverse, a shared persistent virtual environment of interconnected digital experiences. The problem is that none of this matters until netizens are able to truly own digital assets. And it all starts with gaming.
Video games make us feel like we can do anything. These virtual worlds of limitless potential allow us to transcend the realities of everyday life as we become heroes. They give us the sense that we are in control of our own destiny.
Games and gamers
Games are good simulations of life: Players earn rewards to accrue worth, climb the ranks and achieve status. These goals are something on which gamers place extraordinary value, and every week, gamers spend an average of around 30 hours playing games, interacting in game forums and participating in game streams. They also spend considerable amounts of money on in-app purchases, such as weapons and armor, for a variety of purposes that upgrade their gameplay or simply look cool. They can even pay to accelerate their progress and reach higher levels more quickly.
One could argue that achieving “success” in these games is misleading. As a species, we spend considerable time in simulated environments, all while surrendering our economic substance and potential. Traditional video games are some of the most contained, restrained and controlled worlds imaginable: beautiful walled gardens built for players to play within them — and only within. Any sense of freedom or ownership that players feel is an illusion because the game publishers and platforms are actually in control of your game and metaverse experiences.
Valued at over $170 billion and growing, the global gaming industry is priced higher than movies and music combined. There is much at stake for game publishers that feel they need strict controls on games in order to protect their profits.
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