Renowned former Apple executive, Trip Hawkins, who is the founder of the company behind the popular FIFA sports videogame franchise, is joining a groundbreaking Web3 startup. The startup aims to compete with leading blockchain games like Axie Infinity.
In an interview with Reuters, Hawkins disclosed that he will be assuming the role of co-founder and strategy chief at Games for a Living (GFAL).
GFAL specializes in publishing titles that are compatible with blockchain technology across various platforms such as consoles, personal computers, and smartphones. This type of gaming is commonly referred to as Web3.
The interest in Web3 gaming has surged over the past year due to its potential to attract more cryptocurrency users. In these games, players have the ability to own, sell, and trade in-game goods.
Animoca Brands, a Hong Kong-based blockchain gaming developer and supporter of the popular NFT game Axie Infinity, successfully raised over $500 million (approximately Rs. 4,150 crore) in 2022.
“Web3 is the bridge to the metaverse,” commented Hawkins. “And if we’re going to create a metaverse, its economy has to resemble the real world.”
While there are concerns regarding security, as “cyberwallets” are more susceptible to hacking, developers are also seeking to diversify their platforms amidst stagnant growth and high app-store fees.
GFAL, which was founded in 2021 by former King executive Manel Sort and is headquartered in Barcelona, had a post-money valuation of EUR 13.2 million (approximately Rs. 115 crore) following its latest funding round last year.
As previously reported, industry experts in India predict that NFT projects will dominate the Web3 sector in 2023. Rajagopal Menon, Vice President of WazirX, stated that this technology will intensify global industrial rivalries and promotional activities.
In addition, hardware manufacturers like smartphone companies are expected to make adjustments to their products in order to make them more “Web3-friendly” starting next year.
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Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.
