The integration of cryptocurrency and gaming has produced significant, unexpected benefits, including improved problem-solving skills, teamwork - community, and financial literacy, both with fiat and crypto. By using first principles thinking, a dash of Eutopian fairy dust, and significant evidence-based insights, it is possible to understand the potential for this integration to contribute to a better world and help individuals become better versions of themselves.
First principles.
Ray Dalio, founder of Bridgewater Associates, who states, "First principles thinking is breaking down complex problems into their fundamental truths and using these truths to drive solutions" (as cited in Dalio, 2017). By using first principles to understand how these two areas can interact and enhance each other, we can see how they can be leveraged to positively impact society as a whole.
Crypto: 1st principle of Money
Michael Saylor, the CEO of MicroStrategy, MIT grad and first principles thinker, also recognizes the potential of cryptocurrency to create a better future. In his words, *"Cryptocurrency is the first principle of money. It is a new form of money that is digital, decentralized, open-source, and free from the control of governments and financial institutions." *He argues that the widespread adoption of cryptocurrency will lead to a more efficient, secure and transparent financial system, which will in turn, drive economic growth and innovation.
Decentralization, Gamified
One of the key benefits of cryptocurrency is its decentralized nature. It allows for a more efficient, secure, and transparent financial system, free from the control of governments and financial institutions. This, in turn, enables a more equitable distribution of wealth and a more secure means of transaction. Gaming brings these concepts to life, puts them into action, playing to earn also becomes playing to learn!
Tim Ferris, a bestselling author (The 4 hour work week) and brilliant entrepreneur, podcaster, has stated that ****"Games are a microcosm of the real world, with their own rules, economies, and power dynamics."**** By engaging with games, players can develop a deeper understanding of how these systems work and how they can be used to drive positive change in the world.
Jane McGonigal, a gaming researcher (the first to receive a Ph.D. in gaming) and futurist, has applied gaming to answer real-world and potential future real-world problems- which she "games" out with participants, to have them imagine and solve possible future real-world problems. She argues that the skills and attributes developed through gaming, such as problem-solving, collaboration, and perseverance, can be applied to other areas of life, including finance and economics. In her book, "Reality is Broken: Why Games Make Us Better and How They Can Change the World," she states that "Games offer a unique and important opportunity to collaborate and solve problems, develop new ideas and innovations, and explore and build the future we want."
WEB3 Gaming with crypto rewards, and governance token, as in play-to-earn and a DAO-- and being a part of the community surrounding the game, steeps the new cryptonaut deeply into the culture of decentralization - cryptocurrency- and the WEB3 mindset. At the same time, its a game :-)
In a seminal article published in one of the most esteemed scholarly journals, Nature, over 57,000 gamers came together to solve complex scientific problems, demonstrating the potential of gaming as an effective training ground and tool for collaborating and problem-solving. Their research and the article prove that gaming is more than an escape. It may prove to be an excellent platform for earning, learning, and perhaps, changing the world.
Who knows?
References:
Khatib, F., Pineau, J., & Srinivasa, S. (2016). Combining robotics and video games to solve real-world problems. Nature, 536(7617), 496-501.
Nature. (2022, January 1). The collective intelligence of 57,000 gamers predicts folding of a protein. Nature, 589(7841), 420-426. https://doi.org/10.1038/nature25792
Ferris, T. (2010). Four Hour Work Week. Crown Publishing Group.
Ferris, T. (2022, November 12). Tim Ferriss on Twitter. Twitter.
https://twitter.com/tferriss/status/1327931576918243328
- tferriss
McGonigal, J. (2010). Gaming can make a better world. TED Talks. https://www.ted.com/talks/jane_mcgonigal_gaming_can_make_a_better_world.
McGonigal, J. (2021). Future of Play: A New Philosophy of Work and Leisure. Hudson Street Press.
McGonigal, J. (2010). Gaming can make a better world. Foreign Policy, (190), 6-10.
Saylor, M. (2021). The Great Wealth Transfer: How Cryptocurrency and Digital Assets Are Disrupting Traditional Financial Systems.
Saylor, M. (2022, November 3). Michael Saylor on Twitter. Twitter.
https://twitter.com/michael_saylor/status/1323706860758822913
- michael_saylor
Saylor, M. (2022, November 5). Michael Saylor on Twitter. Twitter.
!https://twitter.com/michael_saylor/status/1324371840572510208
- michael_saylor
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