

Metaskins Co-Founder: How Do You Bring 3 Billion People Into GameFi?

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Metaskins Co-Founder David Cummings said mass adoption of Web3 GameFi by the 3 billion gamers worlwide won't be easy, though the potential is extraordinary.
Metaskins Co-Founder: GameFi Mass Adoption Won’t Be Easy
As one of the most valuable trends in the blockchain space, the GameFi sector has experienced a massive surge in value and interest globally.
There are many new blockchain games and metaverses in development right now. Still, most of them don't get much traction even though the GameFi sector attracts 800,000 gamers daily, according to a DappRadar report..
However, that’s a fraction of the 3 billion gamers worldwide (estimated by DFC Intelligence). With all this growth potential for Web3 GameFi, several challenges threaten to stifle this budding market.
Recently, BSC News talked with David Cummings, Co-Founder of Metaskins, at the Messari Mainnet event, and he gave his views on onboarding 3 billion users to the GameFi sector.
“I don’t think mass adoption will come easy. So, we need something that will actually capture traditional gamers and crypto natives alike that will make them want to play now,” Cummings told BSC News.
According to Cummings, Web3 doesn’t have the “real games” to support the idea of onboarding the “next billion.”

On the Monetary Aspect of GameFi
The co-founder of Metaskins believes those 3 billion people are already living in the metaverse, of which the GameFi space and Web3 metaverses are just extensions. There's a catch, though.
“Users don't yet own their assets. Their assets stay in that world, in a closed loop,” Cummings said. “People spend several hours a day accumulating wealth in games that they could never take out.”
Using blockchain technology, Cummings believes a gamer could take the wealth created in a game, extract it, and sell it easily in an NFT marketplace. The games would also have a monetary aspect where users can earn money.
According to Cummings, having the ability to provide for their families will shift the psychology of gamers, so it becomes a “whole different phenomenon.” Along with monetary benefits, people will also join to socialize and attend events from anywhere in the world.
He believes the best game developers will eventually migrate toward GameFi:
“Upcoming games, like Big Time and Illuvium, which are crypto’s first AAA game experiences, should be the catalyst for mass adoption. These have a good chance to take away the market share from the Fornites and GTAs of the gaming industry.”
Heading Toward a Paradigm Shift
Cummings predicts that brands and people will gradually move towards this new paradigm shift. He further shared:
“These brands know that they have a vision that includes the Metaverse revolution which shows how the company will take the next step; All that type of stuff: on the marketing front, on creating visibility, and even front brand recognition. Everyday there are more and more people finding comfort in the Metaverse. These brands know that there's a certain amount of people there, and that tomorrow there will be even more people, and the next day even more. It's an excellent opportunity to get eyes on your brand.”

In the coming years, people may interact with the brand in a unique and different way. With the ability to play for money at a young age, kids will become savvier, changing their psychology. Cummings anticipates that the shift is going to happen in the near future.
“I feel that whether it's one or two, or even five years, it's going to take over, and it's going to happen very quickly. I think for brands, it's very important to enter now as quickly as possible and be able to not only build out a Metaverse offer but stick with it and create comfortable experiences for people,” Cummings said.
What Is Metaskins:
Metaskins is a one-stop shop for Metaverse or Non-Fungible Token (NFT) needs. Based in Colombia, the design studio specializes in personalized digital wearables, custom infrastructure built on Metaverse parcels and brand-tailored Metaverse events.
The company’s work and services includes high-quality Metaverse-ready 3D avatars, digital modeling, marketing, smart contract development, video game development and more.
Metaskins’ partners and clients include Puma, Bare Knuckle Fighting Championship, MMA TV, The Holy Ones NFT collection, Fetus Apes NFT collection, Snarky Sharks NFT, NFtweak, etc.
Where to find Metaskins:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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The Memecoin Hype: How Social Media Drives Frenzies and Price Surges

Uncovering the rise of memecoins, their reliance on social media platforms like Reddit and TikTok, and the cautionary factors investors need to consider.
TL;DR:
- Memecoins, cryptocurrencies based on memes, have gained massive attention and generated price surges.
- Social media platforms like Reddit and TikTok are crucial in promoting memecoins and creating frenzies.
- FOMO drives retail investors to rush into memecoins, but they often lack fundamental value and carry high risks.
- While price surges can occur, memecoins are volatile, and investors should approach them with caution, conducting thorough research and diversifying their portfolios.
Memecoins have taken the world by storm, drawing massive attention and generating unprecedented price surges. What sets them apart from traditional cryptocurrencies is their reliance on social media platforms for promotion and the subsequent frenzies they create.
This article explores the memecoin hype and how social media plays a pivotal role in driving these frenzies and price surges.
The Rise of Memecoins
Memecoins, as the name suggests, are cryptocurrencies primarily based on memes or internet culture. They typically gain popularity through viral internet trends and memes, which are shared and spread rapidly across various social media platforms.
One of the earliest and most well-known memecoins is Dogecoin, which started as a joke in 2013 but has since gained a dedicated following and achieved substantial market capitalization.
The Power of Social Media
Social media platforms like Reddit, Facebook, Twitter, and TikTok have been breeding grounds for memecoin hype. These platforms allow users to share ideas, content, and investment tips with a vast audience. When a memecoin catches the attention of influential individuals or gains traction within online communities, it can rapidly snowball into a social media frenzy.
The influence of social media platforms on memecoins cannot be understated. They create an environment where trends can be born and spread rapidly, leading to a surge in demand and subsequent price appreciation.
The Frenzy Begins
When a memecoin gains traction on social media, it often leads to a frenzy among retail investors. FOMO, or the Fear Of Missing Out, kicks in as individuals witness others making substantial gains quickly. As a result, people rush to buy into the memecoin, hoping to ride the wave of hype and turn a quick profit.
This behaviour is not without risks. Memecoins often lack fundamental value and are driven solely by speculative demand. Investors can easily get caught up in the excitement, disregarding traditional investment principles and the potential risks. In contrast, some individuals manage to make significant profits.
Price Surges and Volatility
The frenzies created by social media can lead to massive price surges for memecoins. These price spikes are often irrational and detached from any underlying fundamentals. The combination of high demand, limited supply, and speculative trading can create a perfect storm that drives prices to unprecedented levels.
However, the volatility of memecoins is a double-edged sword. While some investors benefit from the price surges, others suffer significant losses when the bubble eventually bursts. Moreover, the market corrections following such surges can be swift and severe, leaving investors scrambling to exit their positions.
Investing in Memecoins: Proceed with Caution
For those considering investing in memecoins, it's crucial to approach the market with caution and a healthy dose of skepticism. While some individuals have made significant profits during the hype, it's essential to understand the risks and speculative nature of these assets.
Here are a few factors to consider before diving into memecoins:
1. Do Your Research: Before investing in any cryptocurrency, including memecoins, thoroughly research the project, its underlying technology, and the team behind it. Understand the tokenomics and assess the potential long-term value.
2. Be Mindful of Hype: Don't let FOMO drive your investment decisions. Just because a memecoin is gaining attention on social media doesn't guarantee its long-term success or value. Separate genuine potential from mere hype.
3. Diversify Your Portfolio: Investing solely in memecoins is highly risky. Instead, diversify your investment portfolio by including established cryptocurrencies with solid fundamentals and other traditional assets.
4. Set Realistic Expectations: Memecoins can experience extreme volatility, so it's essential to set realistic expectations and not invest more than you can afford to lose. Avoid investing your life savings or funds meant for essential expenses.
5. Stay Informed: Keep up with the latest news, market trends, and regulatory developments. Then, stay vigilant and be prepared to adapt your investment strategy accordingly.
Conclusion
The memecoin hype driven by social media has undeniably captured the attention of the cryptocurrency world. These assets, often born out of internet culture and viral trends, have witnessed meteoric price rises, creating excitement and concerns. However, while the social media-driven frenzy can offer opportunities for profits, it also carries significant risks and ethical implications.
Investors must exercise caution, conduct thorough research, and approach memecoins with a level-headed mindset. The memecoin phenomenon serves as a reminder that, in the rapidly evolving landscape of cryptocurrencies, critical thinking and due diligence are paramount to navigating the market's ever-changing tides.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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