Uploaded July 2025 | Updated September 2026, 1 hour ago

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🎙NEXT.io Podcast #23 of Vested Interest with Pierre Lindh, Lloyd Danzig and Benjie Cherniak.

In this episode, we discuss the evolving landscape of collectibles and mystery boxes, drawing parallels to gambling mechanics. They explore the regulatory challenges these new products face, the recent shifts in the venture capital landscape, and the current headwinds for North American operators in the gaming industry.

⏰ Timestamps:
00:00 - Introduction
00:43 - Sponsor Messages
02:02 - Welcoming Lloyd & Benjie
03:06 - Mystery Boxes: Gambling in Disguise?
06:26 - Digital Buybacks and Market Liquidity
08:44 - Slot Mechanics in Collectibles
10:14 - Legal Risks & Regulatory Grey Zones
13:38 - Market Volatility & Platform Liquidity
15:11 - How Regulated Operators Might React
18:14 - Physical vs. Digital Collectibles Landscape
20:25 - Scaling Problems: Supply Chains & Pricing
24:12 – Why Most Gaming Funding Isn’t Broad-Based
26:19 – AngelList Trends & New LP Appetite
28:42 – The Category Leader Obsession
31:13 – Regulated Operator Headwinds in North America
35:44 – Regulatory Moats vs. Challenger Agility
38:45 – Long-Term Strategy: Fight or Join?
40:31 – Can There Be a National RMG Framework?
41:02 – Final Thoughts

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This episode of NEXT.io is brought to you by:
Pragmatic Solutions – Leading iGaming platform technology.
https://pragmatic.solutions/

Pragmatic Play – Industry-leading content provider.
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