[Article] Web3 and the Blockchain

Our colleague lost thousands of dollars in digital items she bought as a kid at Neopets when she left the game. Those days are beginning to fade. 

Gaming on the Blockchain gives ownership of digital items back to players. That’s why it’s so exciting for the astounding 3.1B people who play games almost an hour a day. And why some of the $1.7B people spend weekly on mobile social games might recoup value or turn a profit one day. Even now, people can create, sell, and trade NFTs (non-fungible tokens), with more content, platforms and exchanges launching daily.

At the recent Game Developers Conference (GDC) in San Francisco, our founder Nicole experienced that 80% of new gaming and infrastructure projects being discussed were Web3 focused. Our client, venture capital fund, Griffin Gaming Partners is investing heavily in the intersection of content, software infrastructure, social platforms and Web3 companies, paving the way for innovation. 

Two of the Griffin Managing Directors had this to say of Web3 gaming:

“And then if you look at things like Web3, blockchain, and gaming, it is akin to what we went through with free-to-play gaming, which completely disrupted the industry in a positive way,” said Peter Levin, Managing Director of Griffin Gaming Partners (Source: The Hollywood Reporter)

“[Web 3] is one of our central theses from a macro perspective within games,” said Nick Tuosto, Managing Director of Griffin Gaming Partners and LionTree. “It’s our view that the enablement of digital asset ownership within games may be the single most important technological unlock in the history of games.” (Source: Coindesk)

The Blockchain has a tremendous impact in developing countries, democratizing access to money, real estate and eCommerce. People hoped that the Blockchain would create new security and authentication options. That hasn’t quite materialized as expected. Its use in gaming and payment systems has, however.

Building the Web3 and blockchain ecosystem takes funding, protocols, platforms, studios and distribution, which is where we come in. Outfront Solutions has experience building a venture capital fund on the Blockchain, has launched tokens advised blockchain protocol and NFT companies. 

We’re excited about the democratization and access for creators and players alike. We believe this will unleash a new wave of creativity and value for the world.

About Outfront Solutions

Outfront Solutions is a branding and marketing firm that positions organizations for growth, investment and acquisition. From startup to IPO, Outfront Solutions founders have launched companies and products, supported M&As, and put brands, products, and people on the map. We have managed 8-figure budgets for our clients on multiple continents with globally distributed teams, generated thousands of media placements, attracted funding, and invested in new ventures.

For more information or to schedule a call with Outfront connect with us here.