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Peter / ‘pet3rpan’ Profile picture
@pet3rpan_
Sep 3, 2024 • 7 tweets • 2 min read • Read on X
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Thesis: Blockchains are an entirely new content medium for entertainment Image
They are games naturally, and we already know how to play them. Image
We've all been searching for the next great worlds the entire time, Image
Digital physics (onchain games) as a new interface for blockchains. Image
New narratives are the face of these worlds. Image
There is incredible whitespace to build worlds that are fun and playful. Image
These ideas are the result of endless discussions/learnings from the community. Thank you for your time & inspiration: @dhrunym @alexdeclino @ArthurRoingBaer @nagual_ape @rev1x0 @awtnmy @rev1x0 @billyrennekamp @heylukegibson @0xStoops @jpatten__ @dianacbiggs @melquarto @thejaymo

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More from @pet3rpan_

Peter / ‘pet3rpan’ Profile picture
Feb 11
Thesis: The Consumer Crypto Opportunity

First originally presented to @1kxnetwork's LPs last year on why we take consumer crypto so seriously. This is the opportunity that we see. Image
1. Whenever a new platform emerges, new winners are always created, whereas incumbents misunderstand the opportunity, are too slow, or simply misexecute. New paradigms require new mental models and new playbooks.

We saw this with games and video over the last decade. Image
2. We saw this with the emergence of mobile games.

In the 2000s, hardcore games dominated the gaming industry. Players sought higher immersive experiences with high-fidelity graphics. Mobile represented the antithesis of this, being a far smaller, non-performant device with little high-quality content created for it. Gamers back then didn't care, so neither did the biggest game publishers at that time.

Despite the lack of existing industry interest, the potential of mobile was undeniable. It would go on to allow people to play games anywhere with anyone else on the internet in a highly casual manner, spawning the mobile free-to-play category. This created an entirely new market of players that never existed before.

And naturally, new winners emerged soon after. Ones that were entirely built off games that did not look like the winners of the prior generation, and with gamers that did not consider themselves gamers.

"These aren't real games and these aren't real gamers"Image
Read 10 tweets
Peter / ‘pet3rpan’ Profile picture
Sep 26, 2023
At 1kx, we have never been more excited to back teams building products at the forefront of consumer crypto.

To date, we've written 30 checks into consumer teams and continue to invest very actively, even today.

#0 / Overview of what we've backed (below) Image
#1 / But what is next and what are excited about?...

Social. Creator. IP. Spatial. Autonomous Worlds. Luxury. Art. Gen Art. Casual games. NPCs. Multiplayer Creativity. Music. Collectibles.

Digital ownership.

Let's dive a bit deeper here...
#2 / Social and attention economy.

As the number of onchain content and creators grow, we believe that the need for shared spaces has never been stronger for end users. We're excited about activity feeds and apps that bring new social games around collecting to larger audiences.
Read 10 tweets
Peter / ‘pet3rpan’ Profile picture
May 10, 2023
Most token network's operating focus be summed down to 3 focuses:

▫️Generating supply
▫️Generating demand
▫️Resource allocation

#1 / Network building is hard. And every network needs to solve the same problems. Some observations and thoughts on addressing them: Image
#2 / We can model most token networks as marketplaces (supply & demand) made up of participants that coordinate work to produce an end market that would not be possible alone whether: product, service, economy, or platform (that serves both suppliers and consumers).
#3 / Thematically most problems come from a lack of intuition around the practicalities of how a network of decentralized actors can be coordinated in mass. It's a craft that is not typically practiced much by most founders in their earliest stages (more focused on product dev).
Read 30 tweets
Peter / ‘pet3rpan’ Profile picture
May 10, 2023
The broader an organization’s scope is, the greater the coordination cost required to maintain a baseline level of output across the organization. The more an org is occupied with coordination overhead, the less time and energy they have to build, experiment, and innovate. Image
For DAOs, this was exaggerated by the fact that so many DAOs were scaling their number of contributors before they have clarity on their key objectives and how they will be measuring progress towards those goals.

*cough* *cough* 2021 *cough*
We need to create clarity first for an organization and then build outwards while maintaining clarity and posture.

It is almost never worse inversely.
Read 7 tweets
Peter / ‘pet3rpan’ Profile picture
May 9, 2023
I'm consistently blown away by the thoughtfulness and creativity that goes into onchain games and the collective effort to bring autonomous worlds to life.

#1 / Thread: A compilation of the best content I've found to be critical in building an understanding of Autonomous Worlds. Image
#2 / Autonomous Worlds Pt.1

A must-read canonical piece outlining what an autonomous world is.

Author: @l_udens

0xparc.org/blog/autonomou… Image
#2 / Onchain realities & Game 2.0

Presenting Author: @guiltygyoza

Watch (highly recommended):


Thesis notes: guiltygyoza.xyz/2022/07/game2 Image
Read 26 tweets
Peter / ‘pet3rpan’ Profile picture
May 8, 2023
Onchain games and autonomous worlds are the real whitespace that will enable net new virtual worlds to emerge, not web 2.5 games that lazily implement NFTs and stop at that.

#0 / Here's why I and many others believe this to be the case:
#1.1 / Economic significance: By having all game logic and state of a game on-chain we're able to create permanence around the world that is ultimately dependent on a blockchain, not any centralized company. This is why community governance is critical to the longevity of worlds.
#1.2 / Through this sense of hard permanence, we're able to establish a deeper level of immersion and a stronger feeling of ownership for players, encouraging mastery of the game and allowing for never seen unbounded skin in the game.
Read 7 tweets

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