Controversial Statements from the Solana Foundation President: “These Altcoins Are Dead”
Lily Liu, President of the Solana Basis, made noteworthy statements relating to the blockchain-based gaming business.
“Gaming Altcoins Gained’t Make a Comeback”
Liu said in a social media publish that “the gaming business on blockchain is not going to make a comeback,” including that the Web3 gaming narrative, which grew with nice expectations lately, is weakening.
Liu’s remark got here in response to information that tech big Meta is perhaps backtracking on its metaverse technique. Meta has reportedly spent roughly $80 billion on metaverse initiatives to this point, however has failed to attain the anticipated person adoption. Liu alluded to this growth, highlighting comparable issues within the blockchain gaming subject.
In accordance with Solana’s govt, the strongest use case for blockchain know-how shouldn’t be gaming, however finance. Liu said that video games based mostly on the “play-to-earn” mannequin and involving intensive token economies are overrated, however usually fail to supply a enjoyable and sustainable gaming expertise.
Regardless of billions of {dollars} invested in each metaverse and Web3 gaming initiatives lately, these initiatives look like struggling to construct a sustained and energetic person base. Liu’s assessments recommend that the business’s focus is shifting again in the direction of finance, liquidity, and extra sensible on-chain use circumstances.
*This isn’t funding recommendation.
