Animoca Brands CEO Robby Yung: Expecting 'Triple-A Console-Style' Web3 Games in 2024
In its relatively short existence, the Web3 gaming space has been dominated by play-to-earn games and traditional games ported to Web3—but that is set to change in the coming year, according to Animoca Brands CEO Robby Yung.
Robby Yung, CEO of Animoca Brands
Robby Yung: “We may see more triple-A games released next year, although games like Life Beyond, Devourers, and Phantom Galaxies are currently the only entries in this category."
Core Projects at Animoca Brands
Life Beyond—among the most advanced games supported by Animoca. The CEO of the Life Beyond game project, Benjamin Charbit, previously contributed to the development of Ubisoft's Assassin's Creed franchise. Yung explained that Life Beyond is also produced similarly to high-quality traditional games of the past, which appeals to traditional gamers.
The Revv ecosystem is another game project that Yung is passionate about. Yung noted: “We are developing games with Moto GP and Formula E, along with Revv Racing and several other branded games, all unified by the Rev token ecosystem. You will see significant developments in this ecosystem over the next six months.”
Yung mentioned that these games could help attract traditional gamers, who have thus far been hesitant or even hostile towards Web3 games. There have been numerous stories of resistance, such as with Ubisoft, where players expressed concerns over blockchain games.
This situation mirrors the rise of mobile gaming. Yung noted: “A vocal minority within the gaming community didn't embrace change, which we also saw when mobile gaming emerged in 2009. Many gamers, especially console players at the time, felt that playing on a small mobile screen wasn't real gaming, and now we've seen mobile gaming dominate.”
Yung believes that the gaming industry is moving towards a hybrid model, where technological advancements are leading to a new model that combines traditional gaming with blockchain gaming.
Imagining the Metaverse World
With a global network of 13 studios, Animoca Brands’ investment portfolio spans Web3 games and metaverse platforms including The Sandbox, Phantom Galaxies, Life Beyond, and Crazy Defense Heroes.
Animoca Brands has made a name for itself in the gaming sector, and Yung revealed a much broader vision for the company. Among its pioneering initiatives is the transformation of Tiny Tap, an Animoca Brands subsidiary, from Web2 to Web3. This educational platform allows teachers to create online lessons and get paid with project tokens.
The company will continue to push its vision of an open, decentralized metaverse world. This contrasts with the centralized and closed platforms promoted by older companies like Meta, emphasizing the need to clarify the meaning of the metaverse. Yung said, “Meta's vision mainly focuses on VR, so it would be more appropriate to call it just VR.”
Animoca Brands’ CEO remains “very optimistic” about the metaverse—but with a warning that “the centralized and closed definition of the metaverse is no longer suitable.”
Yung explained, “The true nature of the metaverse demands blockchain technology. Blockchain enables interactive content capabilities, which is a fundamental aspect of the metaverse. Without interactive capabilities, it's just an app rather than a true metaverse.”
Navigating Regulatory Challenges
The cryptocurrency and broader Web3 industry has faced regulatory hurdles in recent months. Yung emphasized the impact of regulatory uncertainty, which has led to investor risk aversion and hesitation. He said, “It affects our business growth strategy, with the US currently less focused. While the US market is always part of our global strategy, widespread uncertainty complicates investment decisions in that region.”
Yung praised France for becoming a prominent Web3 hub. He said, “This is less about government actions and more about the presence of talented entrepreneurs who have actively built space for a considerable period, even before the NFT boom in 2017. The concentration of skilled individuals and entrepreneurial spirit is the driving force behind France's ecosystem.”
