YouTube's Head of Gaming Leaves to Join Polygon Studios as CEO
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Ryan Wyatt, the head of YouTube Gaming, will be leaving the Google-owned tech company soon. Wyatt will take over as CEO of Polygon Studios in March, a company specialized in developing on the Ethereum sidechain.
Wyatt believes a new initiative is needed despite YouTube's rising interest in blockchain and NFTs. "I came to YouTube about eight years ago to assist give gamers a voice and represent the needs of gamers every day," Wyatt tweeted.
"In my role at Polygon Studios, I will be focused on growing the developer ecosystem through investment, marketing, and developer support and bridging the gap between Web2 and Web3. I'll be leading the Polygon Studios organization across Gaming, Entertainment, Fashion, News, Sports, and more."
Wyatt has earned the respect of YouTube Gaming creators as a YouTube executive, with the likes of "Call of Duty" streamer Dr Disrespect and 100 Thieves' Nadeshot, CouRage, and Valkyrae congratulating him today on the upcoming move.
Wyatt was the driving force behind YouTube Gaming's live streaming efforts, gaining exclusive arrangements with big names like TimTheTatman, Ludwig, and Dr Lupo. As a result, YouTube Gaming has established itself as a competitor to Twitch in the video game live-streaming industry, with its high broadcasting quality and roster of A-list creators.
Wyatt is now able to offer some of the same enjoyment to Web3. However, several gamers have criticized NFTs and blockchain networks, expressing concerns about energy consumption and the potential environmental impact of blockchains. Some gamers have also blamed cryptocurrency miners for not obtaining graphics cards for their gaming PCs.
In the future, he believes the next generation of gamers will "challenge conventional formats and want their time spent in-game to mean something & the value of their items to have an actual monetary value. Most in-game assets are illiquid; NFTs & the blockchain change this by providing an open, transparent market."
Polygon Studios announced in December 2021 that it will invest $100 million in gaming startup GameOn for future Web3-related projects. Polygon Studios' official site lists Atari and Animoca Brands as partners and NFT marketplace OpenSea and metaverse project Decentraland.
Turkish President Recep Tayyip Erdogan and officials from the ruling Ak Party met earlier this week to discuss the metaverse, with the president calling for a thorough investigation.
According to a Daily Sabah newspaper, Erdoan has reportedly encouraged the Ak Party to investigate the metaverse, cryptocurrencies, and how they are used in transactions.
Party officials were asked to analyse the phenomenon with critical long-term implications at a meeting on Jan. 25. The financial aspects of the metaverse, cryptocurrency, and social media are expected to be discussed at a forum arranged by the ruling party in the future.
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The metaverse is gaining popularity in Turkey; according to some sources, thousands of digital territories in Turkey have already been purchased on game-based metaverse platforms, the majority of which are located inside the historic former metropolis of Istanbul.
Turkish authorities recently met in the metaverse to discuss cryptocurrency rules, according to Cointelegraph.
"I believe that metaverse-based meetings would be improved expeditiously and become an essential part of our lives," said Mustafa Elita?, leader of Turkey's Grand National Assembly.
Indonesia's leading monetary watchdog, the Financial Services Authority (OJK), prohibits local enterprises from utilizing, offering, or supporting cryptocurrency services. Due to their increased price swings, the regulator feels that trading with bitcoin and altcoins is dangerous.
Over the last few months, the Asian country's authorities have taken a hostile posture toward the Bitcoin business. The National Ulema Council in November 2021 that digital assets are riddled with "uncertainty, wagering, and harm" and that such investments should be declared "haram".
Another group, Tarjih Muhammadiyah, recently declared cryptocurrency illegal for Muslims. According to the corporation, Bitcoin and other alternative coinage are speculative and not backed by tangible assets such as gold.
According to a recent report by Reuters, the Financial Services Authority (OJK) is the next in line to criticize the asset class: "OJK has strictly prohibited financial service institutions from using, marketing, and facilitating crypto asset trading."
Despite its anti-crypto stance, the Indonesian government permits the sale of bitcoin and altcoins on exchanges. The Commodity Futures Trading Regulatory Agency oversees the operations. On the other hand, Locals are unable to use digital assets to make payments within the country's borders.
What about CBDC, though??While private cryptocurrencies are frowned upon by the Indonesian government, this is not the case with CBDCs. Perry Warjiyo, the Governor of Bank Indonesia, stated in May of last year that the financial institution is on the verge of issuing a digital version of its national currency.
According to the executive, locals have moved from cash to digital payments during the COVID-19 pandemic, who believes that a wholly controlled central bank digital currency is the best solution for the money changeover.
"A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto. CBDC would be part of an effort to address the use of crypto in financial transactions."
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Joining a Ponzi scheme? No outrage??