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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
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