DeFi and gaming sectors see growth potential under Trump

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Grafa2024/11/21 10:37

By:Mahathir Bayena

Blockchain gaming and decentralised finance (DeFi) are expected to thrive under Donald Trump's presidency, according to Jeffrey Zirlin, co-founder of Sky Mavis, the company behind Axie Infinity.

Speaking at the YGG Play Summit in the Philippines on November 21, Zirlin cited the anticipated easing of regulatory pressures as a key catalyst for innovation in token design and development.

Under the previous administration, led by SEC Chair Gary Gensler, stringent regulations posed challenges to experimentation in token creation.

“The token design space has now been massively opened up. I believe that’s most bullish for DeFi and gaming, which we believe are the most consequential sectors that have the most long-term substantive value in this industry,” Zirlin noted.

He also emphasised the role of memecoins in attracting speculative investors who could transition into early adopters of blockchain games.

“Memecoins attract people who are thinking short-term and are primarily speculative. These individuals are ideal candidates for early adoption of blockchain games,” Zirlin stated.

The crypto industry broadly shares Zirlin’s optimism regarding the new administration.

Joe Lubin, CEO of Consensys, has highlighted the potential for Ethereum (CRYPTO:ETH) and its ecosystem to benefit from anticipated regulatory relaxation, which could foster significant growth.

As regulatory barriers diminish, Zirlin expects legitimate blockchain gaming and DeFi projects to flourish.

He sees this as an opportunity to expand their utility and drive innovation and adoption in the blockchain space.

This shift could pave the way for groundbreaking developments in token design, fostering sustainable growth in both the DeFi and gaming sectors.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.

The Block•2025/02/02 17:11