Amy Wu Profile picture
Oct 23, 2021 6 tweets 2 min read Read on X
1/ In a short period of time, *every* gaming pitch I now hear is at minimum crypto-curious. Gaming-native teams know how to design great games; crypto-native teams know how to build web3 communities. To build a great web3 game you need both + thoughtful tokenomics: 👇
2/ Building a native web3 community: Pick your blockchain partner, engage with their community, build culture on Discord and Twitter, engage fans with NFT drops. Today, the web3 vs hardcore gaming communities don’t perfectly overlap. Mix carefully
3/ Designing great games begins with a great game designer. If not the founder, this is the hardest hire to make. Consider finding one with expertise in your game genre, while art / eng can be more generalist. Gaming-native teams should hire a blockchain developer
4/ Game economy design is art and science. @AxieInfinity is the first at-scale web3 game experimenting with complex tokenomics. Study what they’ve done, plus classic web2 economy design. Complexity will range from F2P skin sales to multi-currency MMOs
5/ Consider: hard vs soft currencies, introducing / controlling inflation, treasury mgmt, stablecoins, loot box pricing, F2P vs pay-for-power dynamics, play-and-earn vs play-to-earn player ratios. Managing the economy is an ongoing activity post-launch
6/ There are 200+ web3 gaming teams. When players experience a wealth of hundreds of live blockchain games, the novelty will wear off, players can choose where to earn, and what matters will be what has always mattered: is the game fun?

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More from @amytongwu

May 4, 2023
1/ It’s an eye-opening time for venture-backed gaming studios. A wave are set to launch open beta in the next 12 mos. But with 10,000 games launched on Steam per yr or Android per week, the odds are stacked against success for game 1. Studios should think strategically 👇
2/ Have a large enough private beta

Regular playtests are not enough to test if your game is a “1,000 hour game”. Recruit at least 10,000 players for your private beta to get a proxy for player retention, interest, and monetization. Know and target your gamer segment (casual… twitter.com/i/web/status/1…
3/ Budget for marketing

AAA and mobile games regularly spend similar or more $ on marketing than development. If you’re self-publishing, set aside a realistic budget for launch marketing. Indie studios with small budgets need to experiment with grassroots, creative ways to build… twitter.com/i/web/status/1…
Read 8 tweets
Apr 24, 2023
I’ve played @duolingo for 80 days straight. It’s one of the best gamified consumer apps I’ve used. Others agree, Duo has:
- 61M MAUs / 16M DAUs (+62% yoy)
- $370M in 2022 rev (+47% yoy)
- Cashflow positive ($46M in 2022)

Below I breakdown the features that make it so good👇
2/ Early monetization disruption:
Back in 2011 when language learning apps like Rosetta Stone charged $500, @duolingo disrupted the model by charging $0. Instead, users translated internet content which Duo sold back to publishers. Duo monetizes mostly via a freemium model. Image
3/ Daily streaks:
The #1 feature that makes me come back every day. Some days I have hrs to learn, but most days I only mere minutes. I’ve found myself defending my streak at 11:55pm at a bar more often than I’d like to admit. It’s powerful gamification. Image
Read 9 tweets
Mar 16, 2022
1/ So honored to join the @apecoin DAO board, launched today along with the $APE token!🧵
2/ Love or hate NFTs, they have captured the consumer imagination and continue to be the onboarding ramp for the mainstream into web3. @BoredApeYC is leading the way as the #1 NFT brand, becoming a household name and building the next gen “Disney” of our generation.
3/ @BoredApeYC has led innovation on IP frameworks, like giving NFT holders full commercial rights to their IP without a royalty. This has accelerated awareness rather than leaked value.
Read 5 tweets
Jan 14, 2022
1/ Sharing a life update! I’m thrilled to join @FTX_Official to lead FTX Ventures, gaming, and commercial initiatives reporting to @SBF_FTX, in the company’s next chapter as a leading global financial services and web3 company.
ventures.ftx.com
2/ We’re launching FTX Ventures today, a $2B fund for builders, by builders. We’re excited to support great teams across crypto, web3, and more. If you’re excited to work with @SBF_FTX, @ramnikarora, @armaniferrante, @ajm_alameda, J, Brian Lee+, hit us up!
wsj.com/amp/articles/c…
3/ In addition to Ventures, I’ll be leading the @FTX_Official gaming, M&A, and other web3 initiatives, based out of the Bahamas HQ. DMs always open to connect with web3 builders, FTX customers & partners!
Read 6 tweets
Dec 12, 2021
1/ Have been thinking about the future of web3 gaming after a recent trip to the Nordics (Slush), home to some of the world’s greatest gaming companies (Supercell, King, Minecraft..). Web3 was on everyone’s minds. Then the Ubisoft incident happened, a repeat of the Discord one.
2/ Ubisoft’s announcement of its NFT launch, the first of the AAA publishers, was met with strong player negativity. Ubisoft quickly took down the launch video. For every tweet in support it looked like 10 against. Why did this happen and can this be overcome?
3/ First, while Ubisoft was brave to dive into NFTs first, web2 companies making the conversion should embrace the web3 ethos of community involvement, and engage them earlier. Why is this actually good for gamers? Neither they nor employees like being surprised.
Read 12 tweets
Nov 26, 2021
1/ Have been thinking about the evolution of VC investing in crypto, if we believe it to be as big or bigger than the internet shift of the late 90s and mobile of the 00s. Today, there are no more “internet” or “mobile” tech investors. To not be is to be irrelevant.
2/ In the last 5 years, early in the cycle, crypto-focused VC funds, mostly early-stage, achieved 5-100x returns with both index and concentrated strategies, with significant gains from those early in DeFi. Mean returns 7-8x. Notable funds all 10x+.
3/ This yr, generalist VCs and HFs have entered, while crypto-native funds have raised or grown larger from asset value growth. Crypto funding is on track to more than 10x this year vs 2020. Valuations grew commensurately.
Read 10 tweets

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