taetaehoho

taetaehoho

11-05-2022

18:49

While markets are down and gaming, in particular, is bleeding, I wanted to take a moment to recall why I became bullish on this space in the first place. 🧵

1. Crypto-based monetization (building key infrastructure and liquidity, NOT selling NFTs) is better for UGC (low take rates and still enjoy lower UA through platform)

2. Opensource + crypto-based monetization means platforms have incentives to encourage UGC (we’ve seen this with L1s)

3. Crypto-based governance/decentralization builds better platforms (Appstore -> Epic Store -> @AxieInfinity marketplace) that are owned by game devs and players (h/t @TimSweeneyEpic)

4. Crypto based monetization (1. And not referring to selling NFTs) is better for studios

5. Economics and governance as content have the potential for higher retention. (h/t @ViliLe and @danctheduck)

6. Ownership and shared purpose through 5. Has higher retention. Perhaps people are interested in lineage tracing.

7. If standards can be agreed upon, interoperability between games is possible. (h/t @raphkoster)

8. Composability with existing protocols brings new possibilities in game design - for example, complex markets in-game.

9. Lower cost of trust and composable economic tools have the chance to lower toxicity in games (ie. group deposit escrow where if a party member griefs they get slashed, group wallet that automatically receives drop…etc).

10. 9. Improves retention. Players who experience toxicity are 300+% more likely to churn.

11. Digital ownership hopefully improves economics for all digital creators (most of us).

There are still many concerns. 5, 6, 8 are hypotheses on whether people will enjoy them. 7 is a conditional. 9 is pure conjecture. At the very least I view 1, 2, 3 as pretty strong arguments.

What'd I miss? @chng_raymond @LeftsideEmiri @cloudxgmf @wassiecapital @DeFiVader @bottomd0g @AskTinNguyen @0xAikoDai @fareastwitcher Plan to share this with crypto nosayer gamers to get feedback, iterate, and really think about value add as well.


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