What do VCs look for in gaming and the Web3 games era

The gaming industry has seen a significant evolution in recent years, with a growing focus on web3 games. But what does that mean, exactly? In the first episode of the "Game On" podcast, Tarek Fouad and Sali Elagab from Shorooq Partners, the leading tech investor in the Middle East and North Africa and Pakistan, sits down with Ilya Ereemev, Grigory Bortnik from The Games Fund, and Anton Gorodetsky from My Games to discuss what web3 games are, and what venture capitalists (VCs) look for when it comes to investing in them.

Web3 games, according to Ilya, refer to games in which players own items and content that are sellable inside the game. In contrast, in web2 games, all the content is owned by the platform owners or game creators, and players have no ownership of assets inside the game. This philosophical shift is a key aspect of web3 games, and it's what sets them apart from traditional games.

Grigory expands on this idea by mentioning that the big dream for web 3 games is to use assets from one game in another game, or even sell them. However, this is currently a complicated process due to the different codes, names, and ways of using assets in different games. It's still an unresolved question, and one that the industry is still trying to find a solution for.

One thing that is certain is that web3 games are still very much in their infancy, and the industry is still figuring out how to navigate this new space and as we're experiencing a crypto winter, and it's not clear where regulations and our understanding of this space will lead us to.

Despite this uncertainty, our guests agree that the future of web3 games is bright. They believe that as the industry matures, and solutions are found for the current challenges, we will see more and more players owning assets inside the game. This will lead to a new level of engagement and immersion for players, as they will have a greater sense of ownership and control over their in-game experiences.

In conclusion, web3 games are still a relatively new concept in the gaming industry, but they have the potential to revolutionize the way we play and interact with games. VCs like us are looking for innovative solutions to the current challenges that the industry is facing, and for teams that have a clear vision for how to create engaging and immersive web3 games.

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