Gamers want to participate in the creative environment of gaming and be a part of the ecosystem, but will flee if they think that the metaverse and Web3 are just about fleecing them for money, Daniel Alegre, the new CEO of Yuga Labs, said on stage at the Consensus 2023 festival.

“The reality is the metaverse is not new,” he said. “World of Warcraft, for all intents and purposes, is a metaverse,” he added. “But what Web3 is enabling is not only new interaction and ways for players to find communities that go beyond necessarily the game itself.”