DeFi, gaming will be ‘most positively affected’ by Trump: Sky Mavis
Blockchain gaming, along with decentralized finance (DeFi), will likely benefit most from Donald Trump’s presidency, said Jeffrey Zirlin, the co-founder of crypto gaming platform Sky Mavis.
Speaking to Cointelegraph at the YGG Play Summit in the Philippines on Nov. 21, Zirlin said the “token design” space may yield the most benefit from the new crypto-friendly administration in the United States.
“You want to experiment with all these ways of adding utility to tokens so that you can distribute tokens via the games and then have people who want to use and spend the tokens.”
Zirlin said the outgoing administration in the US — watched over by a Securities and Exchange Commission (SEC) led by Gary Gensler and other top Democrats — made it “very difficult” to do anything novel in the token design space without running into serious regulatory headwinds.
Jeffrey Zirlin at the YGG Play Summit in Manilla. Source: Cointelegraph
“So the bottom line is that the token design space has now been massively opened up. I believe that’s most bullish for DeFi and gaming, which we believe are the most consequential sectors that have the most long-term substantive value in this industry.”
Memecoins are a funnel into crypto games
While some have lamented the rise of memecoins as being “the most extractive” trend to ever hit the crypto industry, Zirlin takes the other side of the argument.
“The good thing about memecoins is that they get the people who are only in [crypto] for primarily speculative reasons and are thinking very short-term — it attracts those people.”
To Zirlin, it’s exactly this kind of inclination for speculation and shorter-term thinking that makes memecoiners ideal candidates for the earliest users of new blockchain games.
Related: Western Web3 games need to use Gacha mechanics to conquer Asian markets
While memecoins are eating up the lion’s share of attention right now, Zirlin said this cycle has been fairly “predictable” and is betting on legitimate crypto gaming projects seeing major adoption in the coming months and years.
Trump’s election is great for legitimate projects
Meanwhile, Zirlin shares a similar sentiment with many crypto industry pundits, including Consensys CEO Joe Lubin, who said that a Trump administration and its widely anticipated crypto-friendly policy will be a boon for more utility-geared crypto projects.
Lubin told Cointelegraph on Nov. 13 that Ethereum and its ecosystem of projects were “poised to benefit” more than any other protocol from Trump’s election, saying it was more mature than any other major blockchain, aside from Bitcoin.
Magazine: Crypto has 4 years to grow so big ‘no one can shut it down’ — Kain Warwick, Infinex
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
VanEck: Reiterates Bitcoin's $180,000 target price remains unchanged
Bitwise CEO: 2024 is the year of Bitcoin securitization
DOGE breaks through $0.47, with a 24-hour increase of 18.6%
A whale exchanged 90.8 WBTC for 2709 ETH 10 hours ago after Bitcoin broke a new high