web3 gaming isn’t dead. you guys are being so dramatic.
But it is a lot harder to build in the space than people think though & I hope we start to see more teams ship earlier.
Small teams need to be multidisciplinary in ways that normal games teams don’t.
Right now we’re still so early that for any game to succeed they’re not just building a game they’re also building…
👉 Basic web3 infrastructure / indexing (all the tech to index / write to the blockchain - every leading web3 game has built there own so far)
👉 New UA technology (all the infrastructure to facilitate token rewards, attribution, segmentation)
👉 A live token economy (This is still novel and a lot of teams are actually very weak here)
Mobile gaming for a while became a science…
1️⃣ Build game
2️⃣ See if it hits target metrics (d7, d28, etc)
3️⃣ Run ads & Profit
We’re still early enough where the space is not competitive and you don’t need to be as dialed on some of the traditional metrics.
But you do need to be absolutely dialed in on the new and novel. I’m not going to tell anyone how to innovate & build new stuff, but I think the traditional games mentality of build in stealth for 2 years then ship a game is going to go badly for a lot of developers.
I know there is no way we would be able to innovate on UA, economics, and tech without building like a startup. Shipping quickly, trying things out, and failing often.
That’s why I’m more bullish on the small teams iterating and shipping, and there are a good amount coming still. There are some beast founders who are hungry to make this work.
It’s going to be OK 😅
But in the same note I do think that it is ridiculous that games that haven’t even launched yet are about why their token launch hasn’t gone well.
There is so much work to be done and experiment with to have success here, and if you’re game isn’t live you haven’t even started that work.
Ship your games, do points, then launch tokens when you’re ready people.
🎯 we really carefully considered rewards per player and capped the amount of wallets in our p2a so that we could match expectations.
But we didn’t need to limit growth because of 2nd order effects.
An economy in the live game formed around supporting people vying for top spots
Powerful story.
In 30 years, Monet went from being ridiculed in the papers, being regarded as France's greatest living artist.
In 30 years, where will sit the art and artists of the digital revolution?
Ty @Daimon444 for bringing this to my attention.
AAA Games are finding it tougher than ever to turn a profit. Meanwhile every few weeks a sub-$40 game blows up and sells millions. Let's talk about the price of games...
Also Balatro.
Let's talk about Balatro.
WATCH HERE: https://t.co/ZWvDiasDjp
People who are sleeping in ASIA especially in terms of WEB 3 gaming should at least read these data that I researched for you.
→ Asia-Pacific stands as the powerhouse of the global gaming landscape, accounting for more than half of all players worldwide. 1.48 Billion gamers in fact. Yes, with the huge B.
→ The Southeast Asia Gaming Market is estimated at USD 14.80 billion in 2024 and is expected to reach USD 14.93 billion by 2029, growing at a modest CAGR of 0.19% during the forecast period (2024-2029). Yes, that's only SEA that we're talking about.
→ Mobile gaming would bring easier mass adoption for WEB 3. And here's a good data for you:
The global games market reached $184.0 billion in revenue in 2023. And mobile gaming/games accounts 49% (Yes, you read it right, almost half) of the global games market - that's $90.4B in valuation.
→ Asia Pacific accounts 46% of the total revenue last 2024.
You guys are seriously sleeping on ASIA. But I'm gonna make your job easier for you. Do what you can on these data, and if you need more, my DMs are welcome to educate you more.
cc: @daryl24_eth@Jihoz_Axie
Conventional wisdom says 'Follow your passion,' but real success demands more.
It's about aligning passion with market needs.
The key isn't just to do what you love, but to love solving problems that others are willing to pay for. That's how you turn passion into profit.
On Around the Metaverse today:
We talk about the upcoming BULL RUN and if it will really be good for web3 games, or just all hollow hype that will fade away with the bulls.
I am joined by @MoneyPlaneIdol + @kobeph + @ForbidenGods & your host @A_Dombeck_
LIVE 🔴 4pm PST!
What you need to sell NFTs
- Quotable team (track record, brands)
- High quality cinematic trailer
- Big brand partnerships or investment backing
- KOL/influencer threads
- Future token airdrop
- Grandiose vision (eg. AAA gaming IP)
- Utility promises
What you need to be successful
- Focus on building
- Cost efficiency
- Thoughtful web3 design
- Sustainable economics
- Marketing to players (not NFT buyers)
- Liveops
- Flexibility to pivot
1. I wrote an essay re: the intersection of web3 & games. It's intended for anyone who enjoys games & is curious how web3 may impact the gaming industry. The essay is written in a modular fashion so folks can skip around & read the sections that are of most interest.
Reminder: Crypto Gaming and Metaverse is a multi-decade opportunity that just came to the real surface 12-15 months ago.
Patience will pay off massively in this sector.
Gaming tokens are a must-watch narrative for 2024.
It was easily November's standout market sector with $IMX (+99%), $ILV (+130%), $RON (+115%) and $PRIME (+201%).
Here's why why we are seeing this rally, and some under the radar gaming projects you should pay attention to 🧵👀
The first AAA crypto-native games are starting to hit the market.
The public beta of @illuviumio first game, Illuvium Arena, was listed on the Epic Games Store this week.
For those unaware, Illuvium is building a set of games that allow players to travel through an open world to catch Illuvial creatures (represented as NFTs) and battle them competitively.
It's only one of the games they plan to release, with Illuvium Overworld, a companion game for capturing and finding Illuvials, expected in Q1 2024.
The impact?
Illuvium is one of the most highly anticipated crypto games to date.
This launch is a big deal because no crypto game has managed to attract a sustainable level of genuine, non-speculative usage.
In other words, all crypto games have failed the most important test: being fun to play.
It’s not just Illuvium making progress.
Brawlers, a wrestling-theme NFT game built on the @WAX_io blockchain, also hit the Epic Games Store this month.
Another gaming chain, Ronin, saw activity spike as new game Pixels hit 100,000 daily active users. Also, 2021 breakout star Axie Infinity released a major update allowing its NFT creatures to “evolve as you play with them.”
And then there are other notables such as Shrapnel (@avax), Parallel (@ethereum and @BuildOnBase) or the three additional gaming-focused Avalanche subnets that will go live in December.
Why everyone is paying attention:
It's no exaggeration to say that the next 6–12 months will be crypto gaming's most pivotal period to date.
Finally, we'll be able to see what these long-awaited games are made of.
Many are shocked to learn that there are over 3 billion gamers today, and that the gaming industry is now larger than the music and movie industries combined.
Last year, of the $7.2B of capital raised in web3, gaming accounted for 60%, with another $2B added in 2023.
And it’s not just crypto natives paying attention.
Here are some traditional studios that are developing crypto games:
- CCP Games (Eve Online) is making a blockchain game.
- Ubisoft (Assassin Creed) is building a “crypto gaming experience” with Immutable.
- Zynga (FarmVille) introduced its first crypto-native mobile game, Sugartown.
- Square Enix (Final Fantasy) tripled down on blockchain partnering with a web3 developer.
Momentum building for 2024
While other narratives like real-world assets (RWAs), L2s and AI continue to frequent the headlines, so too does crypto gaming.
Could 2024 be the year the first fun crypto-native AAA game goes mainstream?
The confluence of these two major trends is coming and will massively accelerate #Web3Gaming adoption.
Trend 1- The pace of crypto adoption exceeds the pace of internet adoption (when internet adoption pace was at its peak)
Trend 2 - Mainstream game revenue exceeds that of radio, film, and music combined. Gaming is becoming more and more immersive.
These two trends combined with the power of a decentralized liquid market for player owned assets… wow!
Let’s not be tribalist but instead support the Web3 game and ecosystem builders making great things happen!
Here’s just a few and I can’t name them all so help me out in the comments below: @NeoTokyoCode@claymates@playSHRAPNEL@illuviumio@GoGalaGames@DEGA_org@staratlas and ofcourse @CornucopiasGame but I’m biased on that one.
We need to root for the success of web3 game industry and make crypto onboarding simple. Let’s pull the crypto newbies in with vision, quality, and most important delivery.
Tag your favorites in the comments!
Image credit to @RaoulGMI and Global Macro investor
Can I be honest with you? IT'S DAMN HARD TO BUILD IN WEB3.
When you try something new, people ask you to repeat the old things.
When you repeat the old things, people ask you to try something new.
When you share more information, people ask for mysteries and surprises.
When you create mysteries and surprises, people ask for more information.
When you have utility, people ask for art.
When you have art, people ask for utility.
When you reveal fast, people dump faster.
When you reveal slowly, people ask wen wen wen.
People ask for more value, but they don't want to pay royalties.
People say they finally got their forever PFP, but they would flip it for 0.1Ξ profit next week.
People call you family, but they sell your ass in seconds when things are not going well.
People sound like they are the best art critics, best business strategists, and best developers combined.
I know.
I know many teams have raised shit tons of funding, done nothing, or done things that holders don't give a fuck.
I know people have PTSD from the countless rugs, hacks, and scams—I feel you because I hold a bag that's probably down much worse than yours.
But when you meet a good team, would you please give them the benefit of the doubt and some time to prove themselves?
If they make mistakes, would you give them constructive feedback instead of destructive fudback?
If they do something right, would you pat them on their shoulders but also remind them to stay humble as the job is not done?
Don't be a hater. But also don't be a fanboy. Be a co-builder that values long-term value rather than short-term gain.
Nothing great was ever built in a day.
Let's build together. Let's grow together. Let's free ourselves from the PvP mindset our society wants us to believe. Let's"go into all the world and preach the gospel to all creation."
To end this long tweet, I don't give you a potato but a tweet by one of my favorite web3 founders:
"I don't know people. Why don't you go start an NFT company and get everything right?"
---
P.S. When I wrote "people" above, I meant some people. I am grateful I've met many great people in web3. ❤️
P.P.S. I wrote this before the Captainz reveal, BTC MVP, or @Memecoin so it feels less like I'm only covering my own ass. 💩
P.P.P.S. Hope you are well @GordonGoner. 🙏