‘Real’ gamers despise cryptocurrency because of play-to-earn games, claims the founder of Atari

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Cryptocurrency games have acquired a tarnished reputation within the traditional gaming community. However, Nolan Bushnell insists that the saga of Web3 gaming and blockchain-based universes is far from its conclusion.

It’s no secret that conventional gamers harbor an intense aversion towards cryptocurrencies and nonfungible tokens (NFTs) infiltrating their beloved games. According to Nolan Bushnell, the founder of Atari, the genesis of this animosity can be traced back to the meteoric ascent of play-to-earn games.

Bushnell stated unequivocally, “I can elucidate the origins of this cryptocurrency aversion. It stems from these play-to-earn games, the trailblazers of blockchain gaming.”

He went on to elucidate, “Dedicated gamers abhor the grind; it’s tedious. What gamers crave is sheer enjoyment. Regrettably, play-to-earn games rely entirely on the ‘greater fool theory’ to function.”

During an extensive interview with Cointelegraph, Bushnell, renowned as the “pioneer of video games,” shared his multifaceted insights into the contemporary gaming landscape and the prospective role of blockchain technology in the industry.

Although it might seem audacious for someone to claim they “invented video games,” for Bushnell, it was merely one facet of his illustrious career, which includes founding the gaming juggernaut Atari and the iconic American restaurant chain, Chuck E. Cheese. Notably, he can also count Steve Jobs as a former colleague.

Bushnell posits that the future of Web3 gaming hinges on a substantial departure from play-to-earn dynamics, with a renewed emphasis on constructing immersive virtual realms through the integration of virtual reality (VR) and augmented reality (AR) technologies.

The widespread adoption of these novel realms, as Bushnell elucidates, hinges on humanity’s innate need for social interaction and a perpetual sense of “time and place” within the burgeoning virtual world economy.

He pondered, “How do people forge connections? Where and when do they convene? These are the connective threads of Web3 and the metaverse. I believe we’ve truly achieved something when we can replicate genuine places and real-time experiences within virtual worlds.”

Presently, Bushnell assumes the role of Chief Knowledge Officer at Moxy, an innovative blockchain-based esports company. He highlights three pillars where blockchain technology can usher modern gaming into a new era.

First and foremost, Bushnell asserts the paramount value of seamless and secure fund transfers. “Our goal is to transform gaming into a platform for competition. To achieve this, one must facilitate secure and straightforward fund transfers,” he expounds.

In an increasingly digital world, there arises a pressing need for mechanisms to ensure that actions and expectations align with outcomes. Bushnell contends, “Secondly, smart contracts offer invaluable utility. Their value extends beyond games, permeating all human interactions, as much of life involves forming relationships and stipulating their terms.”

The third critical aspect is the secure preservation of digital assets’ value in the form of cryptocurrencies and tokens. Bushnell’s initiation into the world of cryptocurrency occurred when Bitcoin’s value hovered around $50, an introduction courtesy of Tether co-founder Brock Pierce. Initially indifferent, he, like many, underwent a change of heart as Bitcoin’s value soared, recognizing the potential in the blockchain realm.

Though Bushnell admits to limited exposure to cryptocurrencies due to their volatile nature, he concludes optimistically that whenever humanity collectively perceives value, it usually heralds promising prospects ahead.

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