(0) Since our Feb 22 report & many Qs later, @0xAikoDai & I felt it's time to share our latest thinking around Web3 x Gaming again – namely In-app taxation now as a fitting biz model, paired w/ 10 tentative ideas around sustainability, & our hypothetical game as an example.
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(0.5) Full deck + previous report:
English: docsend.com/view/xew8cqwse…
中文：docsend.com/view/h864mg3v9…
(0) I remember hitting up @Punk9277 at @_kaitoai for a request as simple as transcribing all the podcasts + twitter spaces and make them searchable, completely being blindsided by ChatGPT and how it could make this product 10x more interesting…
(1) …with small cap research in Web3 needing tweets, discord, telegram, mirror / medium, podcasts / YouTube / space, & prop platforms, I often dream about an AlphaSense equivalent from my TradFi days, that’s why we funded the [Citadel, Amazon, and Amazon] team at Kaito.
Feb 21, 2023 • 8 tweets • 2 min read
(0) If you know me long enough from the TardFi days you know I have a soft-spot for simulation SaaS softwareCos like CDNS / SNPS / ANSS etc, thanks to their tech barrier x TAM cap induced R&D moat, trial-and-error know-how built-up through time, and must-have nature
(1) …that eventually translate these into low CAC, low churn, high retention, robust pricing oligopolistic industry structures. I believe @omeragoldberg and team @chaos_labs is building something similar in the Web3 space with already impressive traction
Jul 18, 2022 • 7 tweets • 3 min read
0 – We believe that a “Web3 wix.com” is missing today and are very excited to support @gokhan_egri and @jinnyboiii in their journey of building @ShilMeHQ out of their Harvard dorm rooms.
1 – For NFTs with marked aesthetics, we feel that the best display venue will not be marketplaces, analytics dashboards, or even wallets – owners and promoters may prefer a clean, aesthetic, and light PC/Mobile site that they can customize (but not too much).
Jun 10, 2022 • 10 tweets • 3 min read
0 – The ethics / dedication / long-term mindset of the team shows through in our convo & ref checks. @0xAikoDai and I are happy to be a supporter and excited to cross-pollinate our learnings as this Web3 Casual game attack the sector from a new angle.
1 – Apart from the “heavier” MMORPGs, this lighter-weight project can cold-start by immediately acquiring tons of captive discord users. The lack of download / hardware requirement / time commitment allows for a much much broader TAM…
Mar 13, 2022 • 15 tweets • 4 min read
(0) I remember when it was back in late May 21 when @celiawan2 introduced me to @realyanxin, also around when I officially left my TradFi job to start Folius. That was the 1st time when I learned of @ethsign – and back then the “web3” lingo wasn’t a thing yet.
(1) We’ve had multiple conversations, the product was still iterating, and my impression then was “this is cool, you are clearly very thoughtful, but what can one do with it? Is it something people actually need? Isn’t DocuSign sufficient?”
Mar 10, 2022 • 13 tweets • 3 min read
(0) It’s not the most apt analogy, but the 15-20 EVM chains & layers look & feel a bit like EU countries, whereby bridges are private & national airlines. Ultimately, I don’t think people care enuf about which bridge they use (w/ enuf security), fees will approach marginal cost
(1) …or even negative as x-chain / layer arb opportunities prompt fund-flow incentives. Aside from value alone, the modularization attempts + apps going multichain also suggest not just value but also data-transfer would be a hot topic in coming 12-24 months.
Feb 26, 2022 • 11 tweets • 3 min read
0 – As a continuum to our 10 ideas re: P2E design, we have recently jumped in with @cradlesio in supporting @tyisart & team’s efforts. The game’s polish aside, we are all for the bold steps they took in tackling the (almost) unsolvable FX depreciation problem in P2E games.
1 – One must recognize that, unlike the rake-based model of PvP, the resource-drop onto earning-assets in PvE settings naturally induce systemic inflation. In the face of incessant value-extractors and lack of sinks, depreciation of in-game FX vs. USD is unavoidable.
Feb 22, 2022 • 9 tweets • 2 min read
0 – The vastness (3x size of USA), population mix (median age of <20), mobile-penetration (50%), and diversity of Africa (more countries than Europe) makes it a very different market that calls for specialization when it comes to Web3 adoption.
1- yet for this continent with 15%+ of the world’s population, it may also have the most to gain – in particular w/ the empowerment of domain expertise via complete access to the Web3 value-network. The onboarding will be that of hyper-local biz-dev…
Feb 8, 2022 • 13 tweets • 4 min read
0 – Are there ways to stabilize in-game FX & make P2E economies more sustainable?
@0xAikoDai & I came up w/ 10 ideas esp. for games w/ heavy PvE + dual tokens. These ain’t no panacea – just our opinions & hope to inspire developers exploring the fog of war.
Threadoooor below:
0.5– As FX control crumble & prop. + earning rights cement, games may obfuscate ROI, retain $, own infra & taxation, drive fun & outside spend, involve gov token deeply, & learn from the Fed for stability.
A quick aside – Before Folius I wrote a personal angel check to @sherlockdefi after I met @jack__sanford in Gitcoin Kernel 2, the insurance idea drew heavy inspirations from the novel B2B, all-inclusive design Sherlock is working on as a front-runner.
1 – if you are a protocol looking for B2B, would def. be worth hitting them up 1st – already a slate of blue-chip clients like Euler, Opyn, Teller, etc. Onboarding is a high-touch effort and so far reviews had been raving (it’s high risk and they can’t afford to be wrong, hehe).
Jan 26, 2022 • 12 tweets • 3 min read
(0) I feel strongly that Web3 login is strictly superior to web2 (twitter / google) logins. Ability to seamlessly manipulate value + signal ownership is a goldmine. Soon we should access zoom, docsend, DocuSign, YouTube, Netflix equivalent sites just like we ape Uniswap coins.
(1) The value of such an access system is self-evident – convenience in payment aside – the record & ownership of metadata is a much better targeting tool for any businesses to offer differentiated services to the customers.
Jan 20, 2022 • 13 tweets • 3 min read
0 – Made ~$200 USD (net of repair) yesterday with a 50 min run on the @Stepnofficial app. TBF I do have 9 shoes where 1 is uncommon (3.5k USD spent total), so ~5-6% daily yield at current $GST prices w/ 2x boost.
Did you go outside today anon? What did your steps do for you?
1 – Running app w/ social & limited earning features is not new – you can see it via likes of Strava, Nike Rub Club, Runtastic, Sweatcoin, etc; but I think it’s about time a simple Web3 fitness app really emerges w/ NFT + gamification + on-chain tx attached.
Dec 28, 2021 • 13 tweets • 5 min read
0 – The crossing of Web3 initiatives and offline biz-dev could be a goldmine in the next 12-48 months. Not sure who ultimately wins big here (and how) yet, but betting on leverageable IPs + high-touch enablers isn’t the worst idea atm.
1 – One can already observe NBA Top Shot bringing moments into digital saleable formats and BAYC business development efforts + Adidas toying with the idea of physical items tethered to NFTs. They are all a lil janky / toyish today yes…
Dec 5, 2021 • 21 tweets • 5 min read
0 - I feel strongly that well-organized, cleverly incentivized, vertical-focused DAOs that understands capital markets will meaningfully outperform generalists and even any individuals in their niche, and many are best served joining them vs. trying to beat them.
1 - “Edge” in TradFi HF speak is defined as anything that gives someone a leg-up vs. peers in achieving supernormal returns (hopefully legally, else it’s called “black edge”). It’s often about being first and/or being smarter.
Dec 2, 2021 • 8 tweets • 3 min read
(0) Only a matter of time before [long-spot / short-futures] trade to capture risk-free yield gets tokenized – v. hard previously given only CEX’s had perps. W/ new gen of DEX for derivatives as enabling Lego blocks, this product is now a reality via @USDL on ETH by @LemmaFinance
(1) This basis trade yield had historically hovered around 3-5% to as high as 40-50% depending on how boolish traders are. One’d argue that aside from the Aave / Compound USDC yield, this is the only other true “risk-free” rate in the market.
0 – Got involved w/ @rct_ai; after YC-funding + years of hard work in AI generated content, it’s now leveraging its R&D to explore 3 interesting (& lucrative) GameFi primitives:
- Bots-as-a-service for P2E
- Matrix of NFT-enabled casual games
- AAA Open-world & MMO & FPS title
1 – rct’s “botting” arm @DeterrenceAI basically aims to automate in-game actions specifically targeting P2E games. In other words, instead of needing actual real people to “farm” say $SLP in Axie, there’s no reason why rct’s bot can’t do it.
Oct 21, 2021 • 6 tweets • 2 min read
I'm looking for a Research Partner to help buidl @FoliusVentures together.
If you an ex-founder / prop / HF / big tech / degen ready to explore everything out there in Web3, this is for you.
1. The gig:
- lead both public and private investment ideas, full process from A-to-Z, multichain
- help projects in many ways (buidl, tokenecon, biz dev, audit, etc)
- write fire research threads / decks, get ready for podcasts and interviews
Sep 25, 2021 • 10 tweets • 3 min read
Been noodling on this Bybit $BIT token for some time. Haven't formed a strong view yet, but I think it might be the cheapest trailing FDV / stakeholder rev. project in the exchange sector today. @QuirkyQwerty_ had a good post about it a week back:
To put it in context, the CEX clears $8-10 Bn of futures volume / day on its gross fee of 5 bps translates to almost 2.5-3 mm of cash (50% of gross fee) going directly into Bitdao treasury / day, almost $1 Bn / year. The treasury already has ~$500+ mm ETH/USD + ~$4 Bn of BIT.
Aug 31, 2021 • 5 tweets • 1 min read
This one hits home. Turns out the moments one tend to remember are the paths not taken:
- Out of college my friend/ roommate ask me to join him as cofounder of a new lending solution. I passed wanting to hold on to my banking job. It’s now one of the largest in this space.
- During my second gig on WS, a good friend of mine is heading back to China to join some news tech company startup and asked if I want to join him via referral. I had a decent HF job at the time and was like nahhhh. That business was called Bytedance.
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