Play & Earn Gaming 🧵
feat. founders/executives from Illuvium, Axie Infinity, & Gala Games
#Permissionless2022
feat. founders/executives from Illuvium, Axie Infinity, & Gala Games
#Permissionless2022
1/ Building in bear markets…
The key to weathering a bear market is to ship product
Financial incentives build early community…then you have to upgrade the game…
Axie wants to integrate Axies into many more games, not just Sky Mavis titles
@Jihoz_Axie
The key to weathering a bear market is to ship product
Financial incentives build early community…then you have to upgrade the game…
Axie wants to integrate Axies into many more games, not just Sky Mavis titles
@Jihoz_Axie
2/ Building in bear markets…
Illuvium raised enough money ($50M) to weather the bear market. Adding 15-20 people per month. They have the runway.
@KieranWarwick
Illuvium raised enough money ($50M) to weather the bear market. Adding 15-20 people per month. They have the runway.
@KieranWarwick
3/ Building in bear markets…
Gaming should be decorrelated with the market
Building toward a world with a billion users which will decrease the beta
Struggling companies in a bear is a good M&A opportunity for well-capitalized companies
Robbie @Immutable
Gaming should be decorrelated with the market
Building toward a world with a billion users which will decrease the beta
Struggling companies in a bear is a good M&A opportunity for well-capitalized companies
Robbie @Immutable
4/ On traditional gaming studios…
Trad studios are making the same mistake as trad companies do w/ emerging technology
When you have a paradigm shift, you have a new set of winners
I’m skeptical they can move quickly enough
Our biz models disrupt their models
@Jihoz_Axie
Trad studios are making the same mistake as trad companies do w/ emerging technology
When you have a paradigm shift, you have a new set of winners
I’m skeptical they can move quickly enough
Our biz models disrupt their models
@Jihoz_Axie
5/ On traditional gaming studios…
It would be naive to think a major studio couldn’t set up their own web3 arm within 6 months
The more difficult thing is to build a [web3 native company] to that state
I encourage [trad studios] to come into this space
@KieranWarwick
It would be naive to think a major studio couldn’t set up their own web3 arm within 6 months
The more difficult thing is to build a [web3 native company] to that state
I encourage [trad studios] to come into this space
@KieranWarwick
6/ On traditional gaming studios…
Partnering with the major studios is key…the smartest thing the major studios are doing is partnering and learning…we’ll come to a happy medium with [those studios]
The attitude toward [web3 gaming] has become very welcoming
@ForTheBux
Partnering with the major studios is key…the smartest thing the major studios are doing is partnering and learning…we’ll come to a happy medium with [those studios]
The attitude toward [web3 gaming] has become very welcoming
@ForTheBux
7/ On traditional gaming studios…
Almost all of the major studios have 15-20 person web3 strategy teams, they can’t afford not to
We have to create games that are 10x better for players
All it takes is one hit game to kick this into high gear
Robbie @Immutable
Almost all of the major studios have 15-20 person web3 strategy teams, they can’t afford not to
We have to create games that are 10x better for players
All it takes is one hit game to kick this into high gear
Robbie @Immutable
8/ Esports in web3…
A major part of Illuvium is esports. We want to be working with these companies
The goal for game devs should be the decentralization of gaming
@KieranWarwick
A major part of Illuvium is esports. We want to be working with these companies
The goal for game devs should be the decentralization of gaming
@KieranWarwick
9/Esports in web3…
Web3 empowers the democratization of esports by distribution of governance tokens
Esports is a huge area of opportunity for NFT gaming
It will help drive adoption and make the games better
Esports is the original play and earn
@Jihoz_Axie
Web3 empowers the democratization of esports by distribution of governance tokens
Esports is a huge area of opportunity for NFT gaming
It will help drive adoption and make the games better
Esports is the original play and earn
@Jihoz_Axie
10/ Esports in web3…
Esports is definitely part of the Gala Games strategy. It’s an area of gaming that will continue to boom.
It’s now more acceptable. Viewers are growing. Add earning into the equation and it becomes really interesting
@ForTheBux
Esports is definitely part of the Gala Games strategy. It’s an area of gaming that will continue to boom.
It’s now more acceptable. Viewers are growing. Add earning into the equation and it becomes really interesting
@ForTheBux
11/ Making web3 games attractive…
This is on us. We need to prove web3 gaming is better.
“We have to do it with really good games and really good freaking titles that people want to play”
@ForTheBux
This is on us. We need to prove web3 gaming is better.
“We have to do it with really good games and really good freaking titles that people want to play”
@ForTheBux
12/ Making web3 games attractive…
Selling games that have an amazing experience and that [users] also own a piece of it
Games where people don’t talk about the NFT, but they talk about the game, and an NFT is the underlying tech People want this. See CS:GO
Robbie @Immutable
Selling games that have an amazing experience and that [users] also own a piece of it
Games where people don’t talk about the NFT, but they talk about the game, and an NFT is the underlying tech People want this. See CS:GO
Robbie @Immutable
13/ Making web3 games attractive…
NFTs are seen in a bad light by gamers because of how they entered the gaming market
The conversation stops at ‘NFT’
We have to cross that hurdle and convince gamers to want to play the game first
@KieranWarwick
NFTs are seen in a bad light by gamers because of how they entered the gaming market
The conversation stops at ‘NFT’
We have to cross that hurdle and convince gamers to want to play the game first
@KieranWarwick
14/ Making web3 games attractive…
“We can’t build crappy games. We have to build good games that millions and millions of people want to play”
@ForTheBux
“We can’t build crappy games. We have to build good games that millions and millions of people want to play”
@ForTheBux
15/ Great web3 games available today…
Robbie @Immutable - Illuvium
@ForTheBux - Spider Tanks, Grit
@KieranWarwick - Chicken Game (you buy a chicken and gamble on it by racing 😂)
@Jihoz_Axie - can’t say a game because of social influence 😂
Robbie @Immutable - Illuvium
@ForTheBux - Spider Tanks, Grit
@KieranWarwick - Chicken Game (you buy a chicken and gamble on it by racing 😂)
@Jihoz_Axie - can’t say a game because of social influence 😂
My POV: The biggest two biggest themes were:
1. Web3 studios have to build great games. It starts there. Without a great game, web3 gaming doesn’t matter.
2. Great games take time. Be patient and build wisely to navigate the market highs and lows.
1. Web3 studios have to build great games. It starts there. Without a great game, web3 gaming doesn’t matter.
2. Great games take time. Be patient and build wisely to navigate the market highs and lows.
If you enjoyed this Twitter thread, make sure to check out my other threads from #Permissionless2022
https://twitter.com/itsmechase/status/1527271271930777600
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