EA founder Trip Hawkins dives into the Web3 sector with a Barcelona-based startup

Former Apple executive Trip Hawkins, who founded the company behind the best-selling sports video game franchise FIFA, joins a Web3 startup, looking to tackle top blockchain games like Axie Infinity .

The Electronic Arts founder will join as co-founder and chief strategy officer of Games for a Living (GFAL), Hawkins told Reuters in an interview.

GFAL publishes blockchain-enabled titles on consoles, PCs, and smartphones – commonly referred to as Web3.

Interest in Web3 games has increased over the past year as it is expected to attract more cryptocurrency users. Players can own, sell, and trade in-game goods in these games.

Hong Kong-based blockchain game developer Animoca Brands, which backs popular NFT game Axie Infinity, raised over $500 million (almost Rs. 4,150 crore) in 2022.

“Web3 is the bridge to the metaverse,” Hawkins said Thursday. “And if we’re going to create a metaverse, the economy of the metaverse needs to be more like the real world.”

Although there are security concerns, as “cyberwallets” are more susceptible to hacking, developers are also looking to diversify their platforms amid slow growth and high app-store fees.

Founded in 2021 by former King executive Manel Sort, Barcelona-based GFAL had a post-money valuation of €13.2m (almost Rs 115 crore) after its last funding round the year last.

As reported a few days ago, Indian industry experts believe that NFT projects will take the Web3 sector by storm in 2023. WazirX VP Rajagopal Menon said the technology will intensify industry rivalries and promotional activities around the world.

Hardware makers such as smartphone makers are also expected to modify their products to make them more “Web3-friendly” starting next year.