I’m not really a fan of the social network. And no I’m not biased. In fact when I first discovered Facebook I immediately begin to post pics and search for long lost friends. And in the beginning it was great. Spending my weekends tirelessly posting was fun.
My biggest time stealer was gaming. Yes cheesy but back in the day I was a huge Zynga fan. At one point my virtual worlds had grown substantially. My favorite game at the time was City ville. Addicting and time consuming but very enjoyable for me. At the time my business was very stressful. And there was nothing like having a beer and playing some games.
Later on Facebook introduced Facebook credits; a virtual currency for in game purchases. And being the crypto punk that I am immediately it intrigued me. Although at the time I wondered why we couldn’t cash out our coins.
At the time I made some suggestions namely to Zynga. Yet, there were some major fears concerning governance of fiat/crypto. Zynga later started to implement Bitcoin on ramps without fiat off ramps. And no you could not cash out your earned in game coins. Major bummer since they could not see the bigger picture.
Facebook eventually phased out their virtual currency which at the time was not surprising. Which made the announcement of Libra extremely hilarious. After removing their virtual credit platform they decide to implement a new virtual credit system?? Another big tech folly which is now becoming more common.
Facebook just recently announced that cloud gaming will be added to their platform. Users will be able to play for free which would appeal to a larger audience. I mean who doesn’t like free access. But the biggest opportunity they are missing is allowing players to earn in game crypto.
If Facebook would merge Libra and cloud gaming you would see a huge economic system develop overnight. Now I know they have regulators clawing at them but it would be a game changer. Gaming and virtual worlds will be exploding in popularity in the coming years. And Facebook’s large user base could create virtual wealth for all.
This notion is the main reason why the Hive community must take gaming and virtual worlds seriously. You see I believe Zuck may botch it again. A billion dollar opportunity wasted due to over regulation and lack of vision. And most of the tech giants copy cat each other. Being plump and happy makes these companies complacent. Not to mention the hunger that drives startup creativity now resides on the blockchain space.
I guess in the next 6-12 months we will see how this all pans out. Like I mentioned previously I’m currently not a user of Facebook. Lack of privacy and selling my data are just a few reasons why I left. Not to mention I enjoy my privacy. Suffice it say Facebook could fix the folly they created long ago. My money is on the Hive ecosystem. :)
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The advantage to Hive is that we are flying under the radar. Anything Facebook does is front page news and gets the ire of politicians and regulators going. The social media companies also have the added issue they have a business model that is throwing money off to Wall Street, something that group does not want interrupted.
In my view, the opportunity is there for Hive and blockchains like it to thrive. The race is simply a few major corporations versus the hundreds of thousands (or millions) of ideas that individuals have.
So who will win? Like you, I see the major corporations constrained. Thus, those who have the freedom to move about undetected will have the opportunity to capitalize.
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True decentralization has it’s perks. And it’s nice not having any power hungry politicians poking around.
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True decentralization makes this regulator proof. We are working in that direction in the industry but there is a long way to go.
The model being designed within this industry is apt to have a huge influence as more of the existing system is moved onto decentralized systems.
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True decentralization makes this regulator proof. We are working in that direction in the industry but there is a long way to go.
The model being designed within this industry is apt to have a huge influence as more of the existing system is moved onto decentralized systems.
Posted Using LeoFinance Beta
I played their poker game for a while. Had they had the ability to sell play chips I'd have taken it more seriously..
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