Podcast Summary: "Exploring Web3 Gaming with CEO Nir Efrat: A Vision for the Future of Digital Racing"

The Digital Executive | Ep 1030 | March 22, 2025
Guest: Nir Efrat, CEO of Virtually Human Studio (VHS)
Host: Coruzant Technologies

Overview

This 10-minute episode features Nir Efrat, the CEO of Virtually Human Studio (VHS), discussing the evolution of Web3 gaming and VHS’s flagship product, Zed Run, a pioneering blockchain-based digital horse racing game. Drawing from Nir’s extensive background in traditional (Web2) gaming giants like King, Take Two, and Zynga, the conversation centers around making blockchain games accessible and engaging for a broader audience, the critical role of real utility in NFT projects, and the future landscape for partnerships and user experience in Web3 gaming.

Key Discussion Points & Insights

1. Nir Efrat’s Journey into Web3 and VHS

Timestamp: 01:30 - 04:01

• Attraction to VHS:

  • Nir previously worked in mainstream gaming (Web2) companies.
  • He found Web3 intriguing but difficult to access and lacking practical utility, especially during the NFT boom of 2020-2022, which was characterized mainly by speculation rather than real gameplay.
  • VHS and Zed Run stood out due to their real-game utility: "It was a real game. It was not perfect for the time, but it got a lot of traction and a lot of success because it had real utility." (Nir Efrat, 03:10)

• Applying Web2 Experience to Web3:

  • Nir emphasizes leveraging traditional gaming principles—such as user engagement, retention, and seamless onboarding—to enhance Web3 games.
  • "In the Web2 world, you spend months and months iterating and really crafting your onboarding experience... We're trying to do the same now with a new iteration of the Zed Run." (Nir Efrat, 03:45)

2. The Role and Future of Partnerships

Timestamp: 04:03 - 06:24

• Partnerships with Big Brands:

  • VHS has collaborated with brands like Budweiser, Netflix, and NASCAR.
  • With the upcoming launch of Zed Champions, Nir envisions more high-profile partnerships, but stresses that it all starts with building an accessible, engaging product for users.

• On Accessibility:

  • Nir shares past onboarding challenges: "You needed to get three different currencies to buy one horse in a different website."
  • The new approach with Zed Champions focuses on universal accessibility for both crypto-native users and newcomers.

• On Upcoming Features:

  • There will be frequent races (one every 80 seconds), opportunities for sponsor-driven events, and multiple engagement modes.

Notable Quote:

"Our plan... with Zed Champions is making it 100% accessible to anyone, anyone that has some knowledge and experience with NFTs and blockchain and people that do not." (Nir Efrat, 05:20)

3. Balancing Blockchain Tech with Great Gameplay

Timestamp: 07:07 - 08:17

• Game-First Philosophy:

  • VHS prioritizes fun, engaging gameplay over the technical spectacle of blockchain.
  • Blockchain’s advantages—seamless transactions, transparency, true asset ownership—are integrated naturally, not as the main attraction.

• Diverse User Engagement:

  • Users can participate as owners, investors, or spectators, with features including breeding, staking, picking winners, and watching live races.

Notable Quote:

"We're going to just leverage [blockchain] to make it a good experience... The first priority for us is to create a fun, engaging game." (Nir Efrat, 07:22)

4. Challenges & Opportunities in Leading Web3 Gaming

Timestamp: 08:59 - 10:18

• Transition from Speculation to Play:

  • Nir points out that previous Web3 projects focused on financial speculation over actual gameplay, which undermined long-term interest.
  • VHS’s goal is to find the sweet spot where innovative tech excites users and gameplay keeps them coming back.

• Lessons from Web2 Giants:

  • "We want to have a nice cherry on the top of the cake of the playing. But we want to use the Web2 concepts... to build a real exciting product and leverage technology for it." (Nir Efrat, 09:45)
  • The biggest opportunity: developing accessible onboarding to make the platform appealing for true gamers, not just investors.

Memorable Quotes & Moments

• On NFT Utility in Early Web3:
  "There was a promise of utility, there was a speculation around utility, but not a lot of game and not a lot of actual things to do." (Nir Efrat, 01:58)

• On Product Accessibility:
  "My priority right now is first build it and launch it... and I'm pretty sure that those partnerships will follow." (Nir Efrat, 06:13)

• On Engaging Diverse User Profiles:
  "We're going to use and leverage lots of different technologies to attract as many different profiles of users as possible. And blockchain is one of them." (Nir Efrat, 08:02)

Timestamps for Noteworthy Segments

• 01:30 — Nir’s entry into VHS and reflections on Web2 vs Web3
• 04:38 — Brand partnerships and making Zed Champions accessible to all
• 07:07 — Prioritizing gameplay, integrating blockchain benefits
• 08:59 — Web3 leadership challenges, overcoming speculation-only models

Conclusion

Nir Efrat’s appearance on The Digital Executive provides a concise yet insightful look into the core challenges and opportunities of Web3 gaming. His experience in traditional gaming informs a player-focused, accessible approach for Zed Champions—aiming to push the industry beyond speculation towards enduring entertainment. By blending real gameplay with blockchain’s unique capabilities, VHS seeks not only to capture brand partnerships but to redefine digital ownership and engagement for gamers everywhere.