DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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When people ask me what is the future of web3 gaming, I think the answer isn’t so clear.
Web3 gaming has morphed into a whole different animal.
It no longer is about the game, narrative, storyline, animation, graphics, characters, but rather the tokenomics, points, coins and economics of the game.
Play-to-earn (p2e) games in crypto are hot.
It kinda took the world by storm.
Stepn is one such example, you basically record your daily steps and level up your shoes.
So technically its more “move-to-earn”.
Level up your shoes, make them rarer, sell them for more profits.
It was a huge hit during the bull market in crypto last year.
“The Solana-based move-to-earn application amassed $122.5 million in profits through its platform fees in Q2 2022.”
For a startup, that’s pretty impressive numbers in a single quarter.
Naturally, a whole string of similar clones started flooding the market and users suddenly were inundated with options. Step, Sweatcoin, MoveZ, Aglet, DotMoovs, Dustland Runners, Genopets and even Sexn.
All basically the same idea, you move to earn coins, level up, get better stuff, sell them to make moolah and repeat.
Yea sure, p2e games are cool, but when you attract users who are there mostly for the quick profits, they tend to migrate from one game to another once the hype dies out.
Let’s see more examples shall we?
Pegaxy is a play-to-earn crypto game that has risen above the rest in recent times.
When people ask me what is the future of web3 gaming, I think the answer isn’t so clear.
Web3 gaming has morphed into a whole different animal.
It no longer is about the game, narrative, storyline, animation, graphics, characters, but rather the tokenomics, points, coins and economics of the game.
Play-to-earn (p2e) games in crypto are hot.
It kinda took the world by storm.
Stepn is one such example, you basically record your daily steps and level up your shoes.
So technically its more “move-to-earn”.
Level up your shoes, make them rarer, sell them for more profits.
It was a huge hit during the bull market in crypto last year.
“The Solana-based move-to-earn application amassed $122.5 million in profits through its platform fees in Q2 2022.”
For a startup, that’s pretty impressive numbers in a single quarter.
Naturally, a whole string of similar clones started flooding the market and users suddenly were inundated with options. Step, Sweatcoin, MoveZ, Aglet, DotMoovs, Dustland Runners, Genopets and even Sexn.
All basically the same idea, you move to earn coins, level up, get better stuff, sell them to make moolah and repeat.
Yea sure, p2e games are cool, but when you attract users who are there mostly for the quick profits, they tend to migrate from one game to another once the hype dies out.
Let’s see more examples shall we?
Pegaxy is a play-to-earn crypto game that has risen above the rest in recent times.
“Pegaxy would quickly become one of the hottest games in the P2E space. It also taught the fledgling game studio a lot about what does and doesn’t work — and how to deal with a flawed product and crashing token prices. While the game has fallen from the peak — like many of its P2E peers have — around 53,000 people still play Pegaxy weekly, according to DappRadar, a platform specializing in decentralized apps.”
Zed Run is another digital horse racing game in the crypto world.
It reported $30M in revenue in 2021 since launching in 2019.
I’m pretty sure Zed Run was the OG and Pegaxy took some inspiration from them.
Of course, it crypto winter now and nobody is making money, maybe except exchanges who basically sells spades during the gold rush, and makes money regardless.
Naturally, all the tokens and coins of web3 games crashed hard.
If you zoom out for a moment, during a bear market, people get fearful and will take their money and investments out from the places they have the least confidence and faith in.
Games fall squarely in that category and all the liquidity drained out quickly as crypto winter creeps on.
I think the future of web3 gaming will be in the hands of great storytelling games.
Games that will enthrall, excite and allow users to immerse deeply into the storyline.
Take a leaf from the unfathomably successful web2 games like Diablo, Sonic, Zelda, Mario, Starcraft and Warcraft.
They didn’t have confusing tokenomics and fancy coins to lure users in.
They did it with rich storytelling, well developed characters and highly immersive graphics that absolutely captivated millions of fans for decades.
So there could be a situation where great storytelling meets sound tokenomics and viola!
You get the next best thing in web3 gaming.
Will it be a web2 game that manage to imbue their game with utilitarian tokenomics that is sensible.
Or will it a web3 game that manage to enrapture its users with superb storytelling.
Let’s see who gets there first.
-
Are you excited about the future of web3 gaming?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #storytelling #nft #games #web3 #tokenomics #web2 #games
“Pegaxy would quickly become one of the hottest games in the P2E space. It also taught the fledgling game studio a lot about what does and doesn’t work — and how to deal with a flawed product and crashing token prices. While the game has fallen from the peak — like many of its P2E peers have — around 53,000 people still play Pegaxy weekly, according to DappRadar, a platform specializing in decentralized apps.”
Zed Run is another digital horse racing game in the crypto world.
It reported $30M in revenue in 2021 since launching in 2019.
I’m pretty sure Zed Run was the OG and Pegaxy took some inspiration from them.
Of course, it crypto winter now and nobody is making money, maybe except exchanges who basically sells spades during the gold rush, and makes money regardless.
Naturally, all the tokens and coins of web3 games crashed hard.
If you zoom out for a moment, during a bear market, people get fearful and will take their money and investments out from the places they have the least confidence and faith in.
Games fall squarely in that category and all the liquidity drained out quickly as crypto winter creeps on.
I think the future of web3 gaming will be in the hands of great storytelling games.
Games that will enthrall, excite and allow users to immerse deeply into the storyline.
Take a leaf from the unfathomably successful web2 games like Diablo, Sonic, Zelda, Mario, Starcraft and Warcraft.
They didn’t have confusing tokenomics and fancy coins to lure users in.
They did it with rich storytelling, well developed characters and highly immersive graphics that absolutely captivated millions of fans for decades.
So there could be a situation where great storytelling meets sound tokenomics and viola!
You get the next best thing in web3 gaming.
Will it be a web2 game that manage to imbue their game with utilitarian tokenomics that is sensible.
Or will it a web3 game that manage to enrapture its users with superb storytelling.
Let’s see who gets there first.
-
Are you excited about the future of web3 gaming?
-
#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #storytelling #nft #games #web3 #tokenomics #web2 #games
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