Cronos Labs Managing Director Discusses AI and Blockchain Adoption in Web3 Gaming
Cronos Labs Managing Director, Ken Timsit, believes that the increasing use of Artificial Intelligence (AI) signals the accelerated adoption of Blockchain technology in the web3 gaming sector. Cronos (CRO), despite being included in the list of crypto assets nearing death, has experienced a price increase of +4% in the past 24 hours. Cronos Labs, through its Cronos Accelerator Program, supports web3 startups specializing in decentralized finance (DeFi) and blockchain games. Timsit emphasizes that the best web3 game developers are proficient in community management and utilize NFT launches to engage fans and quickly find their market. Additionally, games are incorporating the latest technology trends, such as cheap layer 2 or 3 blockchain networks, account abstraction, and new NFT standards, to enhance the user experience. AI is also being employed to make games more interesting.
The Dark Side of AI in Blockchain Games
While the integration of AI and blockchain in web3 games presents exciting opportunities, Timsit cautions that there is a downside. The use of AI can enable fraudulent practices, particularly through the deployment of bot players. These bots disrupt the in-game economy and pose a challenge for game companies. Although AI-based prediction engines have been used to combat bots, Timsit questions the effectiveness of recent advancements like large language models and generative AI. He believes that other AI models will be crucial in bot detection. Timsit warns that AI can be exploited to alter the game’s balance, leading to negative consequences.
The Unusual Price Increase of Cronos (CRO)
Despite being listed as a crypto asset nearing death, Cronos (CRO) has defied expectations by experiencing a +4% price pump in the last 24 hours. While Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and Ripple (XRP) are facing a bear market, Cronos (CRO) remains in an upward trend. The current value of CRO is $0.053, and its trading volume has increased by 386% in the past 24 hours. Although there are concerns about Cronos’ future, as indicated by an index from HedgewithCrypto, which suggests it has 20 months to fail, the recent price increase showcases its resilience in the market.
Hot Take
The web3 gaming sector is witnessing the growing integration of AI and Blockchain technology, with Cronos Labs at the forefront of this trend. While AI holds promise in enhancing user experiences and community engagement, its potential for fraudulent practices cannot be overlooked. The success of Cronos (CRO) in the market, despite its negative outlook, demonstrates that crypto assets can defy expectations and experience unexpected price pumps. The future of the web3 gaming sector will depend on striking a balance between leveraging AI’s capabilities and mitigating its negative consequences.
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