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Aleksandr “Shurick” Agapitov has built a $3 billion video game payments powerhouse with his company Xsolla, and now the developer community is competing and succeeding in the highly competitive video game space. We are responsible for providing the tools needed to
He stepped down as CEO of Xsolla last year to found X.LA. X.LA is a company that enables metaverse builders to earn money as they create spaces in virtual worlds. We are powering the future of the Metaverse and Web3.
in an exclusive interview with Camden FBSchlick discusses the challenges and opportunities of the Internet’s next big step forward.
With Web3, Non-Fungible Tokens (NFTs) and Metaverse Investment Potential, Are We at the Forefront of New Asset Classes?
There is certainly a lot of excitement around Web3s, NFTs and the Metaverse, with many people believing these technologies are the new frontier for investment and asset ownership.
NFTs have already shown potential as a new type of asset class. Similarly, the metaverse, a virtual universe where people can interact with each other and exchange digital objects in shared spaces, is seen by many as a potential new market for investment and entrepreneurship. . The Metaverse has already attracted significant investment from companies such as Facebook, which have invested heavily in virtual and augmented reality technology.
At the same time, Web3 technologies, including decentralized finance (DeFi) and blockchain-based marketplaces, are also seen as potential drivers for new asset classes. These technologies enable new forms of financial transactions and ownership, potentially disrupting traditional financial systems.
As these technologies develop and mature, new opportunities for investment and asset ownership may emerge, creating new frontiers for both investors and entrepreneurs.
“While there are certainly challenges to overcome, there are many reasons for optimism. [the metaverse’s] potential. “
There are reports that Mark Zuckerberg, a vocal proponent of the Metaverse, is turning to generative AI. In 2021 and his 2022, Meta’s Reality Labs, the division housing the Metaverse project, posted cumulative losses of approximately $24 billion. In your opinion, what does this mean for the future of the metaverse’s existence?
The pivot to generative AI, reported by Mark Zuckerberg, is an interesting development that could affect the future of the metaverse. It’s unclear exactly what this pivot means, but Zuckerberg may see generative AI as a key technology for creating more immersive and interactive virtual environments.
At the same time, the financial loss suffered by Meta’s Reality Labs division, which is focused on developing the Metaverse, is certainly a cause for concern. It’s important to remember that the metaverse is still an early technology and it may take time to build the necessary infrastructure and user base to make it economically viable, but these Losses suggest that the road ahead may be difficult.
That said, it’s also worth noting that many meta companies, including Facebook, continue to invest heavily in the metaverse. These investments suggest that there is still a lot of optimism about the technology’s potential, and that companies are willing to invest significant resources to make it happen.
Ultimately, it’s hard to say what the future holds for the Metaverse. While there are certainly challenges to overcome, there is also plenty of reason to be optimistic about the possibilities.
From a creator’s perspective, do you see more brands and storytellers embracing Web3 and the Metaverse, or do you need a more global infrastructure in place before it becomes widely accepted?
There is no doubt that Web3 and the Metaverse offer exciting new opportunities in storytelling, brand building, audience engagement and the revenue sharing economy. However, it could be widely adopted to develop the infrastructure needed to support these technologies.
One of the key challenges for creators looking to adopt Web3 and the Metaverse is the need for specialized technical knowledge and skills. Creating immersive virtual experiences and leveraging blockchain-based technology can be complex and challenging, requiring creators to work with experienced developers and other experts.
At the same time, there are infrastructure challenges that must be addressed. For example, you need a robust and scalable network for hosting and delivering virtual content, and a reliable and secure system for handling cryptocurrency transactions and other Web3-related functions.
However, many creators and brands are already exploring the possibilities of Web3 and the Metaverse. We are seeing the emergence of new markets for NFTs and other digital assets, and the development of new virtual worlds and experiences leveraging Web3 technology.
As these technologies continue to develop and mature, they are likely to become even more widely adopted by creators and brands. However, this requires continued investment in infrastructure, education, and support services to help creators navigate the complexities of these technologies and build successful businesses and experiences. may become.
What was your motivation for opening Xsolla, a game payment facility?
Xsolla was founded to empower game developers and publishers by providing a comprehensive payment and business solutions platform.
Game developers have found that they often face challenges when it comes to monetizing their games, such as navigating complex payment processing systems and managing customer support. I wanted to create a platform that would simplify the monetization process and provide developers with the tools and resources they need to be successful.
Xsolla not only provides payment processing and business solutions, but also provides access to a global network of payment providers to help developers monetize their games in different regions of the world. By enabling developers to more effectively monetize their games, Xsolla has helped build a more diverse and vibrant gaming ecosystem. Overall, Xsolla’s mission is to help game developers and publishers succeed by providing the support and resources they need to grow their businesses and reach new audiences. .
“Investments in the gaming, Web3, metaverse and fintech sectors could present lucrative opportunities for ultra-high net worth families.”
What would you say to ultra-rich families looking to invest in gaming, Web3, Metaverse, and Fintech but not sure where to start?
For ultra-high net worth families looking to invest in these spaces, there are a few things to consider.
Conducting a thorough investigation: Before investing in any new technology or market, it is important to conduct thorough research to understand the potential risks and opportunities.
Find an experienced partner: Investing in new technology can be difficult, especially for those new to the field. One way to reduce risk and increase your chances of success is to work with an experienced partner with a proven track record in your industry.
Consider investing in a diversified portfolio. Given the risks involved in investing in emerging technologies, it is important to diversify your portfolio to spread risk and maximize potential returns. This may include investments in various companies and technologies.
Keep up to date: New technologies are constantly evolving, so it’s important to stay abreast of the latest developments and trends.
Ultimately, investing in emerging technologies can be a high-risk, high-return proposition. It’s important to approach these investments cautiously and seek out experienced partners and advisors who can help you navigate the complexities of the market.However, with the right strategy and approach, it can be a lucrative opportunity.
What are the pitfalls of such investments?
Some of the main pitfalls to watch out for include:
Market Volatility: Emerging technologies are highly volatile and their valuations can fluctuate rapidly based on a variety of factors, including changes in the regulatory environment, changes in consumer behavior, and the emergence of new competitors.
Regulatory challenges: Emerging technologies may be subject to changes in the regulatory environment, which may create uncertainty and risk for investors. Regulations on topics such as cryptocurrencies, blockchain, and virtual worlds are still evolving and subject to change in unpredictable ways.
Technical risk: Emerging technologies are, by definition, new and relatively untested, and may present unexpected technical challenges. This may include security breaches, software glitches, or unexpected changes in consumer preferences.
Competitive pressure: As emerging technologies become more popular and profitable, new competitors are likely to enter the market, potentially eroding the value of existing investments.
Lack of liquidity: Emerging markets are illiquid and it can be difficult to sell assets quickly and at a fair price. This can be a challenge for investors who need to liquidate their investments quickly.
It’s important to approach these investments with a clear strategy and work with experienced advisors who can help you navigate the complexities of the market.
According to Campden Wealth’s European Family Office Report 2022, a significant proportion of family offices are exposed to metaverse (20%) and NFTs (13%). Do you expect this allocation to increase in the next few years?
Yes, the allocation of family offices to the Metaverse and NFTs is expected to increase over the next few years. The growth potential of these emerging technologies is great, and more and more investors are beginning to realize the potential investment opportunities they offer.
The Metaverse, in particular, is gaining momentum as a new marketplace for games, entertainment, brands, and social interactions. As more platforms and experiences emerge and technology becomes more accessible, there is likely to be more investment and interest from family offices and other institutional investors.
Similarly, NFTs show potential as a new asset class for digital ownership and value exchange. As NFT use cases grow and the technology becomes more mainstream, investment in this area is also expected to increase.
That said, it’s important to note that these emerging technologies are still relatively new and investing in them carries risk. Investors should approach these investments with caution and seek experienced partners and advisors who can help them navigate the complexities of the market. But overall, we believe family office allocations to the Metaverse and NFTs are likely to increase in the coming years as these technologies continue to mature and offer new opportunities for investment and growth. .
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