230 million people participate in gaming-related Facebook groups. 350 million people play games on Facebook every month.

Gaming on Facebook is way more than FarmVille and Candy Crush. It is competing and winning across a variety of spaces and gaming is an important component of that portfolio. All of these answers are correct, which leads to an important conclusion: Facebook is a diversified business. You could even say that Facebook is a data business, since much of their operation comes from collecting and using information generated by their social media services to place those advertisements. Another good answer might be advertising, since the bulk of Facebook’s revenue stream comes from placing targeted advertisements on those services. What type of company is Facebook? You might say social media, because their major products (Facebook, Instagram, Whatsapp) are networking and messaging applications. And we think that’s exactly what’s going to happen. If Facebook enters the play-to-earn gaming world, it would exponentially grow the community and capital around this rapidly-growing industry. That’s why we’re hard at work creating an experimentation platform for Diem with an incentivized testnet and development tools, so people can start building the future of blockchain. The entrance of Facebook, a nearly $1 trillion company with more than 3 billion users, will send shockwaves through the space. Here at Pontem, we think Diem is the future of blockchain. Facebook is already working on their own Diem Blockchain. What would it mean for Facebook to enter the play-to-earn gaming space? Well, it’s certainly a possibility. They incentivize fans by rewarding gameplay with actual cryptocurrencies, instead of fake in-game money.

They shift power away from developers to the players, by using governance tokens and DAOs to steer updates. They enable true ownership, by minting avatars and items as NFTs with functional resale markets. Play-to-earn games are a seismic shift in the video game landscape.

(If you missed that post, check it out here.) Play-to-earn games such as Axie Infinity and CryptoKitties have already become massively popular around the world, and the gaming industry is taking notice. Recently, we wrote about play-to-earn games, and how they are revolutionizing video games by combining crypto, NFTs, and traditional gaming.

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