From the Frontlines: Insights of a Blockchain Business Advisor

Two weeks ago I had the pleasure of being a guest speaker at Cornell University for their Intro to Blockchain course, focusing on Web3 marketing and emerging business sectors, particularly Web3 gaming.

It is so exciting to see Cornell at the forefront of education with this emerging technology sector and ensuring their students are prepared to engage with even the largest companies in the world as it scales!

I would like to share this great experience with you via a question from the Q&A session:

>> Question: How can you use NFTs in gaming?

I absolutely loved this question because it is so expressive of the diversity of possibilities for integrating blockchain into a multitude of industries and how much deep thought and education will be required to understand and develop these nuances, as well as the inquisitive student minds at Cornell that are ready to sponge up knowledge which I had the honor of engaging.

Non-fungible tokens (NFTs) in gaming come in many forms.

• The first and most common being – asset ownership. There are a lot of ways this can look depending on the gameplay, from an in-game asset like a sword, your profile character, or boosters or other consumables.

• Achievements – in the form of progress badges, special event claimables, or even participation like POAPs (Proof of Attendance Protocol).

• Record-keeping – such as not just owning an asset but proof that your race car asset was the exact car that won against Dale Earnhart Jr. (or whatever the name of the champion in the game may be) in a racing game championship.

• Interoperability – such as not just owning an asset to buy or sell, but taking it to other games, for example like all those displaced players in China unable to access World of Warcraft.

• Equity or similar proof or store of value – giving holders exclusive rewards, access to things like quests, or other privileges traditionally only available to shareholders such as governance.

Having the opportunity to speak to some of the brightest young minds in the country was a proud moment in my career. Many thanks to Ilan Klimberg and Cornell University for the invitation.