Day 3 of the SiGMA Americas x Brazilian iGaming Summit (BiS) saw our delegates engaging with even more industry insights. The panel on diversifying through Web3 was no different, bringing great expertise and advice on moving into Web3 technologies and trading in cryptocurrencies in particular.
Featuring four key speakers, the panel was hosted by Andres Meneses, the Founder of Crypto OGs, a podcast dedicated to understanding and supporting the industries surrounding Web3.
Transitioning into the world of Web3
The expert discussion began with an insight into the speaker’s personal journeys, focusing on their individual transitions into the Web3 space.
Guilherme Guimares was the first to contribute, beginning as a sports and entertainment professional, his first foray began with investing in cryptocurrencies. Diving in from this preliminary base, he then explained how he had seen a potential for the application of Web3 technologies into entertainment.
Highlighting the COVID-19 pandemic, Guilherme saw the true possibilities, as there was a great need for better connections and audience engagement. A circumstance he would then answer when founding Block Four.
The same question was then directed towards Euni Wong, who prior to her movements in the Web3 space, worked as a travel blogger. Similarly to Guilherme, Euni was professionally affected by the pandemic, starting in 2019.
This would lead Euni into crypto-based trading, which would eventually prove to be a decisively more lucrative endeavour than her previous profession. This she highlighted with a comparison to traditional stock trading, a far less volatile and less lucrative undertaking.
The discussion then moved to Gabriel Boni, a DJ and record label founder. His journey was perhaps a more deliberate movement towards Web3, as he began by providing scholarships for gaming, similarly induced by the pandemic.
His work also involved leveraging the global nature of Web3 technologies and establishing a solutions centre in São Paulo to connect global entrepreneurs and musicians. This network also gave him multiple opportunities to organise projects such as festivals within the Web3 space.
Arturo Cantera, a former cyclist who transitioned to the Web3 ecosystem, spoke of starting his own company. He highlighted the necessity of staying informed and being proactive to navigate the rapidly evolving crypto industry.
How to trade in the Web3 space
Having explored the various opportunities for professional diversification into Web3 technologies, Euni was then asked for some key insights into her field of impressive expertise, crypto trading.
She made a heavy emphasis throughout the panel on the potency of crypto trading to garner substantial profits, focusing on her particular interest which was speculative trading.
Crypto trading would be the primary, or I would say, the easiest way for anyone who wants to enter it to make a lot of money.
This involves buying and selling cryptocurrencies to make quick profits predicated on price changes. Traders aim to capitalise on short-term price fluctuations but should be prepared for potential losses.
Pinpointing the key factor in the volatility of cryptocurrencies, Euni stressed how taking risks at the cost of potential losses is something she enjoys and is something that should be revelled in as opposed to feared.
She also touched upon staking and how this approach can be far more stable but offers a much lower return. An option she explained could be considered for more risk-averse investors.
Staking in crypto trading involves holding and locking up cryptocurrency to support a blockchain network. It allows participants to earn rewards for validating transactions and contributing to network security.
Diversification into Web3 gaming
Gabriel Boni.
Aimed at Gabriel’s seasoned experience on the great benefits of Web3 in the gaming industry, Boni explained how participating in the crypto community allows you to transform and earn in various ways, as it offers a unique experience when compared to traditional games and platforms. This is achieved because it promotes decentralisation and autonomous organisation.
By allowing communities to come together, for example in Discord channels, one fosters collaboration and global idea sharing, creating great potential for growth and connectivity.
Web3 for artists and content producers
Guilherme expressed how blockchain technology is a perfect fit for the entertainment industry, addressing issues like IP control and offering opportunities for fan participation and ownership. It provides dependable revenue streams and allows for tailored offers to individual fans.
He emphasised the industry’s uncertainty, and that the focus should be on working, testing, and staying involved:
It’s important to jump in, learn, and gather feedback from fans and audiences to keep progressing.
The future of Web3
Arturo then concluded the panel when the discussion moved to speculation about Web3’s future.
He predicted the use of blockchain to preserve in-game events and to ensure inclusivity. This means that important moments and achievements within virtual worlds can be securely recorded on the blockchain, ensuring their long-term availability and immutability.
This could have significant implications for the gaming industry, as it allows players to have a permanent record of their accomplishments and experiences, enhancing the overall gaming experience.
Furthermore, Arturo believes blockchain will contribute to promoting inclusivity within Web3. By leveraging decentralised technology, equal opportunities for participation and ownership will be afforded to a diverse range of individuals.
Check out the SiGMA Asia Summit – The next step in your iGaming journey
After the successful completion of the inaugural SiGMA Americas and BiS Summit in São Paulo, Brazil, delegates can continue their journey into the iGaming industry with the upcoming SiGMA Asia Summit.
Join us in Manila this July for a PAGCOR-endorsed event that offers an immersive exploration of the Asian and Philippine gaming markets. Engage in in-depth discussions on gaming regulation, industry trends, and future prospects. Connect with key regional and global stakeholders and gain valuable insights into the industry. Don’t miss this opportunity to be a part of the SiGMA Asia Summit in Manila.
