Web3 gaming today is not just about getting points, levels, or rewards but about navigating a world within a video game. Loneliness is troubling now because gamers are looking for a different kind of experience relevance, integration, and power. Why do they sit and spend countless hours just picking up coins, shooting aliens, or looting tombs? No, gaming is not simply a way of running away from life; it is about belonging to a special group with similar concerns and helping create the game you wish to see.
In contrast to expectations of fan clubs in conventional gaming, web3 gaming communities do not merely engage in play. They are nerve centers of creative and developing processes where players and developers interact to design, exchange, and sometimes profit. But as in any new territory, there must be some sort of equilibrium. However, it is difficult to build a loyal player base solely through financial motivation, forming a loyal player base requires more than just to gain quick cash.
Transparency is key. People said that they want to get a clear vision of a company that provides the games, especially if money is involved. That’s why directors are releasing information and interacting with people via websites such as Discord or Reddit. Such direct forms of interfaces foster trust and engagement, keeping players attentive.
However, the construction of a community does not stop at creating a web page; it is a continuous process. Players expect to be valued especially when the turn into huge monetary goals is at risk. That’s where Tokenomics comes in. Actualizing such a model rather than aiming at high profits, developers can use tokenomics to motivate users and pay for their contributions.
For instance, refer to Shadow War. It is not just an entertainment product they are developing – it is a society. They are testing it and improving it with playtests and open Ear Space that lets the customers decide what kind of game they want. Implements such as Shadownet and Shadownet 2. 0 aim to promote social interaction and give players incentives to use it.
Web3 gaming is not just about creating a perfect game, though creating a perfect game is not a bad idea; it is about cultivating a community of people to create perfect games. If web3 games are to build long-lasting communities capable of going beyond the digital confines of their virtual environments, there is a need to nurture relationships, actively engage gamers, and consider their opinions.
Can Biden’s Veto Save the SEC’s Crypto Regulations from Congressional Repeal?
An important moment has arrived for President Joe Biden in that he must ultimately choose whether to sign or veto the resolution that would repeal the SEC’s polarizing crypto rules. This motion, which aims to repeal the SEC Staff Accounting Bulletin 121 (SAB 121), has been approved by the parliament and Congress despite threats of a veto from the White House.
The Veto Decision
The repeal of SAB 121, a model of crypto rules from the SEC, is waiting for the nod from President Biden. The support of the resolution has been approved by the House and the Senate. Before the House vote, the White White House threatened to veto the resolution if it found its way to Biden’s desk. However, both chambers of Congress approved it.
As the Chamber of Digital Commerce indicated, Biden has only one more month, namely June 3, to make up his mind. X Social media user Chamber Chief Policy Officer, Cody Carbone pointed out that Biden has only 10 days to act and such action will conclude on June 3.
President’s Options
Veto the Resolution: This would prevent Congress from challenging SAB 121. Taking into account the above-stated facts today Congress may not have enough votes for the veto override since this requires a two-thirds majority of both chambers.
Sign the Resolution: This would repeal SAB 121 and would also ensure that the SEC did not get a chance to propose a rule like it again in the future.
Do Nothing: If no action is taken by that date, the consequences are contingent on whether Congress is in session. If it is Congress then it turns into a law and thus SAB 121 is no longer valid. If not, the resolution undergoes pocket veto, a form of veto that leads to inactivity and does away with the resolution passing into law.
Legislative Context
After the decision to repeal SAB 121 was made, the House endorsed another bill known as the Financial Innovation and Technology for the 21st Century (FIT21) Act or in short H. R. 4763. The objectives of this bill are to avoid a chaotic market development and encourage regulation of crypto assets. Before the House voted on the passage of FIT21, the White House revealed its willingness to negotiate a fair regulatory approach regarding digital assets – a softer tone than when they threatened to veto SAB 121.
The current responsibility now lies with the President of the United States, Joe Biden, who must consider the consequences that the enforcement would have on the burgeoning sector and the subsequent effect on the regulation of cryptocurrencies.
How Well Do Crypto Investors Understand Blockchain Technology?
According to a survey just conducted, 60% of cryptocurrency investors in the United States are not clearly familiar with blockchain. This finding is based on the research by Preply, a language-learning company, which carried out an online survey among 1,001 Americans asking them about their awareness, engagement, and action regarding cryptocurrencies.
Key Findings
Blockchain Confusion: In a survey, 60% of cryptocurrency investors confirmed that they have little to no understanding of blockchain – the technology behind cryptocurrencies. Blockchain is simply a distributed ledger or database that exists on a decentralized network of computers.
Lack of Confidence: Among those who invested in cryptocurrencies, 35% stated that they lack confidence in what they know about them.
Interest in Learning: Of those who have not invested in cryptocurrency, 54% stated an interest in gaining knowledge about the subject.
Google Search Trends
The survey also collected the Google search frequency for 29 crypto-related keywords in the last year across all 50 States and 181 major cities in the United States.
DAO (Decentralized Autonomous Organization)
DEX (Decentralized Exchange)
ICO (Initial Coin Offering)
Of the various types of words that people are interested in, people are more interested in crypto abbreviations and acronyms than in full words and phrases.
Regional Interest
Of all the US states, Florida, Washington, and California received the largest number of visits from people searching for terms related to cryptocurrencies.
This poll appears to indicate a potentially worrying level of ignorance among crypto investors and is further evidence that while interest in cryptocurrency appears to be thriving, there is still a long way to go before people really understand the underlying concept.
