Gaming

they invested $12.5 BILLION in web3 gaming from ‘21 to ‘23

yet only 1M daily wallets play web3 games today across ALL ecosystems & ALL chains 

call it 2M if you want, or even 3M if it makes you feel better, but it makes no difference at all

a single mid-tier web2 mobile game has more daily players than the ENTIRE web3 space COMBINED

a game, btw, that costs ~$10M to build, is likely profitably & likely generates margins not possible in web3, no less

do you know what the CAC is in web3 gaming? 😐

at this moment in time, by all metrics & all considerations, web3 gaming is categorically a failure

this is what happens when we blindly fund exRiot, exActivision, exWhatever

game developer != gameplay & systems designer

big resume != successful founder

they came here solely for the capital & we showered them in droves

90% didn’t even get to market & 100% failed to innovate, or do anything of interest, on the blockchain front

all that’s left now is eco hopping for hopeful network effects

gg

summoning mmo /animarising | 0xbasil.twitter

i remember 70% + of the nft projects launched during the jpg summer included a web3 game in the roadmap, they had no idea what they were promising, clearly any of those projects ever launched a game before.

not even yuga, with their hundred of millions, has been able to develop the other side...