Amy Wu, head of FTX Ventures Fund, said integrating crypto can enhance gaming experiences. She urged video game developers to respect the voices of their fans. Wu recently guested in an episode with Decrypt’s gm podcast. Loading Something is loading.
Amy Wu, head of FTX Ventures Fund, said integrating cryptocurrencies into video games could enhance the overall gaming experience and urged developers to respect the voice of fans when making decisions about how to use crypto.
In an episode of Decrypt’s gm podcast, Wu described how the first games to integrate crypto were play-to-earn, which she said garnered some pushback. And while some frictions have eased, she said she has yet to see studios develop games that seamlessly incorporate digital assets while also delivering great gameplay. For now, most revolve around tokenomics, she said.
“I wouldn’t have been able to predict kind of how fierce the animosity has been with some gamers against NFTs and it’s unfortunate, but it’s interesting,” she told Decrypt.
A number of high-profile developers have announced they would integrate crypto into their games to mixed reception from fans. Developer GSC Game World nixed its NFT plans just days after announcing they would be a part of its highly-anticipated S.T.A.L.K.E.R. 2 video game after backlash from its fan community.
“Game studios should be a lot more thoughtful and careful about how to communicate with their player base, especially if you’re taking a beloved game and adding blockchain components to it. It’s different when you’re creating a new game,” she added.
FTX Ventures focuses on a broad range of investment themes across social, gaming, fintech, software, and healthcare in multi-stage companies. Wu is a former partner at Lightspeed Venture Partners and now helms the crypto exchange’s $2 billion venture fund with a focus on advancing global blockchain and Web3 adoption.
Wu said she understands why gamers are concerned their experiences will be altered should blockchain technology take over the industry.
“There are few fan bases more passionate than a gamer is about their game. They’re super protective of sticking to the integrity of the content, that the studio is doing the right thing, that their voice is being respected,” she told Decrypt.
Ramnik Arora, head of product at FTX, Amy Wu, head of FTX Ventures, and Sam Bankman Fried, founder of FTX. Amy Wu’s Twitter account Still, Wu, who is a prominent investor in gaming startups, is optimistic the right balance will be achieved in the next few years.
“I think we’ll be creating a lot of new Web3 gaming fans along the way as well, in addition to converting some of the existing gamers,” she added.
Crypto exchange FTX, founded by billionaire Sam Bankman-Fried, was valued at a whopping $32 billion in its most recent funding round.
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