EconTalk Josh Williams on Online Gaming, Blockchain, and Forte
Jul 13, 2020
Josh Williams, co-founder and CEO of Forte, dives into the dynamic world of online gaming and blockchain technology. He discusses the staggering 3 billion gamers and the massive revenue potential of the industry. Williams highlights how blockchain can revolutionize player ownership of virtual goods and enhance real-world economic activities within games. He also delves into the rise of virtual concerts and their impact on community building, showcasing the evolving relationship between gaming, culture, and commerce.
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Esports Earnings
- Some professional gamers earn substantial incomes from tournaments.
- A teenager won $3 million in a Fortnite tournament, exceeding Tiger Woods' prize money for a major title.
Streaming and Broadcasting Games
- Popular League of Legends championships are broadcast on ESPN.
- Gamers also earn money by streaming their gameplay and posting videos on platforms like YouTube.
Virtual Concerts
- Marshmello, a musician, held a concert within the game Fortnite.
- Over 10 million people virtually attended, boosting his real-world album sales and streaming numbers.