Exploring the Reinvigorated Interest in Blockchain Games with Bitcoin ETFs

Investing in Web 3.0

The potential of a Bitcoin (BTC) exchange traded fund (ETF) has generated a surge of interest in blockchain games, according to Animoca Brands founder Yat Siu. He told Cointelegraph during Hong Kong Fintech Week that the rise in cryptocurrency prices has reinvigorated investor confidence in the Web3 gaming market as well as boosting related on-chain activity.

“If a sector or a nation isn’t expanding, even though prices could be high, then people can lose faith,” Siu stated. It can be hard to quantify investor trust, yet Siu explained that the key signs of growth and trust in the GameFi industry are best seen by examining on-chain activity.

So, how do you invest in Web 3.0? To get started, you’ll need to buy Web 3.0 tokens. You can also create a Web 3.0 website, or you can look for differences between Web 2.0 and Web 3.0 to better understand how they work.

Investing in Web 3.0

When it comes to investing in Web 3.0, Siu suggests that investors should take many factors into consideration, similar to how one would look at a country’s economy. “It’s not just the price of one particular thing,” he said. “It’s the whole economic parcel.”

Data supports Siu’s point of view. In the last month, the most popular blockchain-based game, Axie Infinity, has seen a 50% increase in transaction activity and a 14% boost in trading volume, as reported by DappRadar.

Siu believes that the crypto ecosystem is still largely reliant on the growth of Bitcoin, despite many industry players seeing their offerings as distinct from the rest of the market.

For those looking to invest in Web 3.0, it is important to understand how it is different from Web 2.0 and to take into account a variety of factors when deciding how to buy Web 3.0 tokens.

How to Invest in Web 3.0

“We are still in a gold standard financial system where Bitcoin is the reserve currency of Web3,” said Siu. The way Bitcoin is used, stored, and owned is what gives value to the crypto ecosystem. According to Siu, the approval of a spot Bitcoin ETF product will bring a lot of legitimacy to the sector and will invite investment from traditional financial institutions.

Siu believes that the crypto sector will eventually outgrow its reliance on Bitcoin as the de-facto reserve asset, just like the international economy shed its dependence on the gold-standard. He stated, “As populations and economies grow, we need different systems that are more natural and efficient. To me, this is where we’re headed. But we’re still talking about a very small population of the world that is involved in Web3, despite it being over $1 trillion in size.”

For those interested in investing in Web 3.0, there are several ways to do so. You can buy Web 3.0 tokens, create a Web 3.0 website, or invest directly in the sector. It is important to understand the differences between Web 2.0 and Web 3.0 before investing, as they have different characteristics.