Thread by @kyleharbour2

There’s never been more funding in Web3 gaming and it’s not enough.

🧵 (1/6)

These factors are hitting the Web3 gaming industry hard:

- drawn out bear market
- long cycle of game development compared to DeFi development
- significantly more staff requirements
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It’s hitting across the industry:

The likes of @TheTreeverse are reducing staff to lean up and optimise development.

@Immutable has had to reduce their team by 11%.

@playmythical a couple months ago laid off 20% of team.

@The_Delysium reduced in size

Semi related: @polygon laying off 20% of their workforce

Games take a long time to build.

Their development is costly.

Games require large teams:

Designers, Artists, narrative writers, game designers, marketing, operations, media, plus plus.

Compare the staff requirements to DeFi.

Few person teams have run billion $ protocols.

That’s before we get to marketing costs pre & post launch.

Organic content is taking off with strong brands delivering epic content on tiktok, twitch and YouTube.

Paid ads double down on that impact.

Another call out to content creators a crucial path to a games success.

Even with Web3 gaming being the 2nd largest VC funded sector in crypto after DeFi.

We may not have seen the last of it.

#web3gaming #web3games