I don't think people fully understand the flywheel we unlock if we figure out play-to-earn.
This month we gave out 22 million $PIXEL as rewards and players spent 11 million $PIXEL back in-game (a payback of 0.5 $PIXEL per reward given)
Revenue is up 64% from August (6.7m $PIXEL) on the same amount of rewards (22m) (payback on $PIXEL rewards was 0.3 just 3 months ago)
We have a couple of large catalysts coming over the next 3 months that should build out more revenue streams (new mechanics, ecosystem expansion, and features).
And our earning tech is getting more efficient (we're better at targeting rewards to people who most likely will use them) which stretches out the rewards further.
When our payback on rewards crosses 1:1 that's when things start to get really interesting and when I consider us having 'solved' play-to-earn mechanics.
If we know that giving out 1 $PIXEL brings over 1 $PIXEL back into the ecosystem we can start to scale rewards & user acquisition.
Think we can pull it off? If you're initially saying no - maybe ask yourself - what if we did?
Seen on @Optimism github:
"Also introducing ICrosschainERC20 interface... to be cross-chain neutral and extensible to other L2s"
I think people are sleeping on just how much Ethereum infrastructure players really *are* willing to cooperate and build a unified Ethereum ecosystem
Today we're kicking off a small pilot, running ads on a few NFT Lands.
This is web3 gaming's first time testing "how can advertisers fund P2E".
We're excited to gather data & see if this is a viable strategy moving forward. Thanks for helping set this up @Quinn2992!
Prediction markets and Community Notes are becoming the two flagship social epistemic technologies of the 2020s.
Both truth-seeking and democratic, built around open public participation rather than pre-selected elites.
I want to see many more things like this.
Introducing ENSv2: The Next Generation of ENS ๐๐๐
ENS Labs is excited to announce our proposal to extend the ENS protocol to a Layer 2 network. This move isn't just about migrating parts of the protocol; we're re-envisioning the architecture from the ground up!
Gensler doubled down on CNBC, saying that most tokens are securities and that:
"[...] token operators, without prejudging any one of them, aren't making the disclosures that investors really could benefit from and are required by law"
๐ฐ Exciting News, Fortress Arena Army! ๐ฎ
Introducing the revamped character system:
New [Basic Grade] tier for in-game use.
Enhance your character's level and skills with the growth system.
Prepare for tougher challenges and competitive play!
Details๐ https://t.co/XeVMXfRE18