- Wild West of Web3 by BorgoAcademy
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- #67 - Wallets, Gaming, and Taxes – Web3’s recent moves
#67 - Wallets, Gaming, and Taxes – Web3’s recent moves
The Wild West of Web3 by BorgoAcademy
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Champions Tactics:
Ubisoft’s gateway to blockchain gaming
If you have read past editions of The Wild West of Web3, you know how much I value the gaming industry and branded gamified experiences.
Therefore, it’s exciting to see that Ubisoft, the powerhouse behind franchises like Assassin’s Creed and Far Cry, is exploring the Web3 arena with its blockchain game, Champions Tactics: Grimoria Chronicles.
Launched on October 23, this tactical RPG blends dark fantasy vibes with strategic gameplay. What makes this game stand out isn’t just its genre but its innovative use of blockchain technology, deployed on the Oasys layer-2 Home Verse. Players can collect, trade, and own in-game assets as NFTs - marking a significant leap in merging gaming with Web3 mechanics.
The game invites players to assemble squads of figurines to compete in turn-based PvP battles. Each champion is a unique digital collectible, part of a pool of 75,000 procedurally generated assets. Ubisoft also introduces a "Forge" system, allowing users to customize champions and craft new ones.
The studio promises balance and fairness, which are crucial given the game’s NFT-driven economy. They seem to be trying to create a sustainable system where ownership deepens the connection between players and their champions.
This move into Web3 gaming is bold, especially given past criticisms and the whole “gamers hate NFTs” debate.
Ubisoft has faced skepticism before, particularly with its Quartz NFT platform, which failed to gain traction. Yet, this new launch appears more calculated. By collaborating with Ubisoft’s Strategic Innovation Lab and engaging players through beta tests, the company has sought to refine gameplay and ensure smoother adoption of blockchain elements.
Despite the innovation, challenges will certainly be plentiful. Market volatility and entry costs could limit accessibility. NFTs in Champions Tactics reportedly range from $7 to a staggering $64,000, raising questions about fair play.
Furthermore, barriers like crypto wallet management continue to deter many gamers from embracing blockchain-based titles.
For Ubisoft, the stakes are somewhat high. With Champions Tactics, the company is banking on its ability to convert at least a tiny portion of its “Web2 gamers” into Web3 enthusiasts. Whether this game can overcome skepticism and economic hurdles will be a telling indicator of Web3’s broader appeal in the gaming industry.
At the end of the day, we have another huge player exploring Web3, which will at least help us learn more about the space.
Detroit’s crypto experiment:
Taxes in Bitcoin?
Detroit is on its way to making history as the largest city in the U.S. to accept cryptocurrency for tax and fee payments. Set to roll out in 2025, the initiative will rely on PayPal’s secure payment platform, enabling residents to pay taxes using Bitcoin and Ethereum.
According to Mayor Mike Duggan, this bold step aims to modernize municipal services and foster a tech-friendly environment for entrepreneurs and residents alike.
“We are excited to be one of the first major U.S. cities to explore blockchains civic applications and allow residents to use their cryptocurrency as a payment option”
For Detroit, the appeal lies in both innovation and inclusivity. The city hopes this platform will improve access for unbanked populations, making tax payments more accessible. According to Nikhil Patel, the City Treasurer, the new system could streamline electronic payments and drive operational efficiency.
Beyond its immediate benefits, Detroit has issued an open call for blockchain entrepreneurs to propose new civic applications, signaling its ambition to become a hub for blockchain innovation.
However, as usual, this move isn’t without its challenges. One of the main discussions is around the environmental impact of Bitcoin’s proof-of-work system (which is often overestimated by the media…) due to its energy consumption.
Critics also point to potential dependency on private platforms like PayPal, which may introduce vulnerabilities if the platform alters its policies or fees.
If Detroit’s experiment succeeds, it could pave the way for other municipalities to integrate cryptocurrency into public finance. But its challenges serve as a reminder that even forward-thinking strategies must address broader implications - economic, environmental, and social.
What’s your view on governments adopting crypto/blockchain solutions for “common” things like dealing with taxes?
Phantom Wallet:
A new milestone for Web3 apps
In a space where competition is fierce, Phantom, a non-custodial crypto wallet, has managed to secure the second spot in the Utilities category on Apple’s U.S. App Store, trailing only behind Google.
This significant milestone places Phantom ahead of major players like Google Chrome, Google Authenticator, and Amazon Fire TV - a remarkable feat for a digital asset wallet.
Sauce: Apple.com
Phantom’s rise highlights a growing interest in secure and accessible crypto solutions. Known for its user-friendly interface and robust functionality, Phantom is particularly popular within the Solana ecosystem, though it supports other blockchain networks and NFTs as well.
Features like fraud detection and Ledger hardware wallet integration further underscore its appeal to crypto enthusiasts.
This achievement also reflects broader trends in the crypto industry 🚀 .
With more people seeking efficient ways to manage digital assets, wallets like Phantom are becoming critical tools. Its climb in the App Store rankings signals a mainstreaming of cryptocurrency solutions, moving them beyond niche markets into more widespread financial activities.
However, Phantom recently faced a hiccup with an iOS update that caused temporary app resets for some users. As a non-custodial wallet, Phantom couldn’t recover lost seed phrases, highlighting the risks inherent in decentralized systems. Despite this, the swift response from the Phantom team and the app’s continued adoption indicate strong user trust.
As mentioned in edition #20:
“You're the bank, which is great. But you are the bank, which may be bad”
This whole thing (including Coinbase’s app also growing) might be a signal of the sector's maturation and a glimpse into a future where (hopefully 😄) managing digital assets is as routine as checking your email.
Pink Beanie in the wild
Had an absolute blast with Anthony Day and the whole crew at the Midnight Social at Web Summit 2024!
Two things I love most in life:
1. Watching my friends win – and Anthony is the definition of a winner. I love him to death 🤝.
2. Being around brilliant minds shaping a better future and driving innovation in uncharted territories 🧠 . The people I met at the Midnight Social? 100% that.
LFG!
How would you rate this edition of The Wild West of Web3? |
See you next week.
#LFGrow
Diego Borgo