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Embarking on a Web3 Odyssey: The Future of Gaming Unveiled
Dive into a forward-thinking exploration of gaming's next frontier with industry leaders.
This transcript unveils a world where gaming and Web3 converge, revealing how this blend is reshaping the landscape of digital entertainment and user engagement.
Join us as we unravel the potential, challenges, and innovations driving the future of gaming in the Web3 era.
TRANSCRIPT
Legendary 00:02:21 Gm, gm, everyone, and welcome to our ZTX spaces. Welcome to the future of web 3 gaming.
Legendary 00:03:02 I'm absolutely delighted to host this space today with my co host Karma on the ZTX main account. We have a fantastic panel of speakers. We have the way the co founder, of AI Arena. We have Hilal with us, the co founder, of Valeria Studios, we have amazing creators with us as well. We have Yellow Panther. We have Apex, and we have Lisa. And we also have Moritz with us on stage 2 absolutely fantastic panel. And it's been 2 very, very interesting days, I would say, Everything is green. The charts are looking great. Apex, you posted yesterday.
Legendary 00:03:40 The market's up, NFT's up, mood is up. Definitely feel the same sense of excitement. However, sometimes I think it's easy to get caught up in charts when everything is green. And the, there is a danger of getting a little less productive. What about you karma? When the market's green, do you find it a bit more hard to focus and get tracked it by the charts or charts, or doesn't that change a thing for you?
ZTX 00:04:06 Hello, everybody. Lovely to be here. Again on spaces, also really pumped for the panel today. And yeah, legendary, I have to admit I am a prime example of a person caught in that never ending circle of it's over. We are so back. At least least in social sense. You know, I think if you work in web free full time over, you know, maybe a cycle of a few months, you really learn to look away from the charts.
ZTX 00:04:37 And unless you're a very active trader, over time, it just stops really mattering that much, you know, the price fluctuations, let's not be naive. Of course, I feel better when everything is green and my portfolio is pumping. But this ebb and flow is just something you get desensitized by, I think, over over a longer period of time?
Legendary 00:04:58 Yeah. I I feel that been in the market long enough that emotions get less and less, but there's still a sense. There's still a sense of excitement. Hilar, welcome to the stage. I saw you with your hand up. How you feel about the market and the distractions that come with green candles and charts?
Hilal 00:05:15 Yeah. I just wanted to say it's not the charts necessarily that distract me. Like, I never really checked the charts at all, but, man, the timeline on these days when when we're pumping like this, it's just way too entertaining because it's way too many good shit posts. It's way too funny. The timeline is distracting. That's that's the that's a real distraction. So I think it's okay to when when these type of big events happen, take a minute, go through the feed, see everybody's reactions, just kind of taking the moment, enjoy it, and then get back to work. But, yeah, not really the charges necessarily, but the timeline is just way too good. Content way too good at these times.
Legendary 00:05:50 I love it and definitely share that feeling its way as well. The great one I hear from you what's more distracting these days? Is it the charge, or is it the x timeline?
THE GWEI | ʌı 00:06:01 Oh, man. A little bit of both. You know, the vibes are back. It was I mean, we've been we've been grinding through, like, a pretty pretty crazy period of time, right, for, like, the last, whatever, 12 to 24 months. But certainly this, this, you know, surge last night, is, you know, a lot of people are probably screaming, like, inject this into my veins because we need more of this. I think you know, you can feel the momentum, really picking up. So it's exciting. I think it, you know, picks up the adrenaline, but I I think for builders, you know, we have we have a job to do.
THE GWEI | ʌı 00:06:42 We need to focus on the product first and foremost. So try not to get distracted by it, but, you know, I have a lot of friends here on stage and, you know, it it is entertaining to just follow follow all that activity and vibes on the on the time mind. So I think it's a little bit of both personally.
Legendary 00:06:58 Absolutely agree with that. And even as a content creator, often, I have, like, too many ideas and things to put out for a day but I also find myself in on on days like this to just scroll and see what other people are doing and shit posting, out do you feel about that as a creator, Lisa, welcome to the stage?
Elisa 00:07:17 Thank you, guys. Thank you for having me on. Maybe I'm a bit of a weirdo, but I definitely prefer when, the market's down just because it I feel like it gives me that sense of comfort. Like, oh, we still have time to build. We still have time to grow. And, yeah, when it's when it's the bull, I just remember last bull, like, everything is, sped up. The fomo is real miss out on, like, 10, 20 things a day.
Elisa 00:07:51 So, yeah, it's it's definitely, like, reality setting in that we need to kind of, like, hurry up. Like, we need to keep building and and kind of do it faster now. We need to get out of that comfort zone where we're just becoming a little bit slow, I feel. But, yeah, but I agree with Wayne. Like, at the end of the day, you just you just, keep working and keep having conviction in, like, the thesis that, you've been having, like, you know, for me, Stephanie, Webster Gaming.
Elisa 00:08:22 I'm already starting to feel a bit fomo like, oh, maybe I should be accumulating more on like, out altcoins, all that kind of stuff, but then I kind of think to myself, you know, don't let the euphoria get to you you have a thesis, you know, web through gaming, that's what you believe in. Just just keep building in that. Thank you for having me.
Legendary 00:08:42 That's a that's a fantastic perspective, actually. And I I do resonate with that. You know, myself hosting a daily news show with my co speech rec was in the audience with us as well. A couple of weeks ago, we had the feeling we could keep up with what's going the news. That was a good feeling that you do your show. You do your 1 hour of talking and a half the feeling that you covered the day, but it's definitely not the case anymore. Yellow Panther. Welcome to the stage. What about you? Do you feel more comfortable in a bear market that gives you more time to build, or do you feel more comfortable now than we have a couple days of more action and green in the market.
yellowpanther.moca 💎 00:09:20 21,000,000 Bitcoin 1 CTX. 21,000,000 Bitcoin, 1 Yellow Panther. I mean, I I've been building. I mean, we've been building for the past one and a half years already. I'm just super, excited because, you know, recently, I get to meet a lot of founders and like that, which you do you you probably will not have the opportunity to do that during a bull market. Right, because there will be so much noise, so much distraction all around. So the best time to build is, you know, the past one and a half years. So whoever is still here, you know, kudos to you guys.
yellowpanther.moca 💎 00:09:57 But, you know, no matter the bear, the bull, you know, we still do what we do on a daily basis, Like, you know, legend, there is still gotta run his show with beach checks. You know, Maurice's still out here, making dog threats, karma's still out here with her amazing voice. But, yeah, just super happy. And and I think today also reminded us and encouraged us that, you know, encouraged us that we made the right decision to not give up and still pursue till today, and this is just a little taste of it.
yellowpanther.moca 💎 00:10:27 And I think when the actual bull actually comes, So I think you guys will actually feel a lot more better and a lot more rewarding and, like, you know, all types of feet.
Legendary 00:10:38 Absolutely agree with you. And there's not only only one yellow Panther. There's only one Apyx as well. Welcome to the stay How are you doing? Love it. Moritz, do I even have to ask you if you're looking at the charts these days as a trader?
Moritz 00:11:01 Yeah. Honestly, I'm not I'm I'm mainly trading NFTs. I don't create crypto. Like, all my crypto that I have is, like, buy an old, but I I've been definitely looking at the charts, these past days more than once per day. And, yeah, one thing that I wanted to mention is actually that we saw the, like, like, the excitement for web 3 gaming, heating up before the crypto prices went up, which is kinda interesting. Of of course, I don't want to say, like, there's a correlation. It's just a coincidence.
Moritz 00:11:32 But we feel like talking about the web 3 gaming will lead the next full run for such a long time now, and it's just funny to see that, like, we saw web 3 gaming heating up in the last 2 weeks and no finally crypto also growing up.
Legendary 00:11:46 Yeah. No. That's actually a, a good point. And I think the sentiment even on a medium term perspective over the last couple of months changed from the point that we talked about games that we are excited to play to not really managing to keep up with all the play tests and all the gaming news that have been coming out over the last couple of weeks, specifically, and that's definitely a massive, massive change. And with that being said, I also wanna get into this discussion. We have quite a few topics to cover.
Legendary 00:12:16 Gonna talk a bit about onboarding user experience in web 3 gaming, get a bit into economics, but also, more into the future of web 3 gaming, which, after all, is the title of our spaces, quite what quite what I'd like to start with, a question to you, Halal, you made a post on X a couple of days ago saying that every game will have the own marketplace that will act as a one stop shop for the ecosystem. The floor is no longer on blur. It is on the Valeria marketplace. This is quite a significant move.
Legendary 00:12:54 This is a significant announcement to make. Could you share a bit more on the rationale on the thinking behind focusing on crafting and, having your own marketplace that basically unites and brings together your ecosystem.
Hilal 00:13:12 Yeah. That's a great question. I think the biggest thing for users of your game, and, I mean, we saw this last bolt on as well actually moved away from all of the marketplaces and had their own marketplace on on Ronin. It's just convenience for the players. And it's the team's ability to fully customize the marketplace to have the best user experience for that audience. So every game has different, every game has different unique things to it with depending on how the NFTs are used in game, depending on the ecosystem, the economics of the of the NFTs.
Hilal 00:13:50 So for us, we have our in game assets, then we have outside of the game assets. We have our token, and it's a I wouldn't say it's a complex ecosystem, but there are a lot of different moving parts and having them all in one spot makes it much better from a user experience and also just the way the marketplace opens up within our web app itself directly takes you to the Valeria marketplace where you can have your magic and equality, non custodial wallet, take those, assets you get in game. We have dichotomy set up on the back end. Covers all the gas fees on matter. And then theres can just trade and, without even interacting with crypto at all.
Hilal 00:14:28 So just having that freedom to fully customize the experience for the user to make it make the onboarding experience as seamless as possible, but also just make the user experience enjoyable instead of having to send them to a bunch of different web pages, having, like, a one stop shop is just the, the convenience factor. And I think once you players in your game. It's it's what makes the most sense. You you can control everything. You can have the the royalties there be implemented. ERC 721 C and 11 55 C. So, yeah, I think, I think it's a no brainer in the end free games.
Legendary 00:15:04 Yeah. Useful centric design is clearly key. Speaking of which from, from your perspective, you know, you talked a lot about user experience, a lot about the importance that people, you don't see that crypto's necessary going in the background that they have the most seamless experience. What other elements when you talk about the market place specifically make it truly user centric in your perspective for a web 3 game.
Hilal 00:15:34 I would say, okay, another side benefit that I just wanted to add in before I answer that is when you have the, the own token within that marketplace, a lot of the users, kind of stay within the system. So we have our Vowel token. And whenever somebody sells land, like, we've seen this so many times. Somebody will sell land for, like, 7000 Vowel tokens. And because they got the Vowel token by staking their land. It kind of feels free in a sense. So you use even though, like, there's a there's a liquidity pool, there's a value for that token out there in the market, the market can choose whatever value that may be. They stay within the ecosystem. They'll take those vowels, and then they'll go spend it on boosted pack.
Hilal 00:16:13 So or they'll go spend it on in game assets. So I think that ties into the user experience where you could have that one token across 4 different collections and it kinda keeps the user in there versus constantly cashing out, cashing out, cashing out, or using Ethereum where Ethereum, you might use it here for this for this asset, but then go a different entity collection, go buy some yoga assets or go buy this asset or that asset. So the the user the user experience for having that one token across all four different collections, makes it very convenient.
Hilal 00:16:46 And when you have it denominated in that token itself, so it's it's a trick where guess the mobile games you'll see in the industry, they have, they have so many different currencies within apps that the user in the end doesn't really know how much they're really spending. They get lost in the sauce where it's like, I'm using 4000 gold coins and 7000 gems, but they don't know that's like 500 they just spent. So when you have just the the currency there, it it makes it a lot easier to for gamers to just spend that currency versus having, like, a USD value or even ETH, which people tied to, like, an investment versus just like a gaming utility point.
Hilal 00:17:25 So that aspect as well that, yeah, I'd say it's a super beneficial for the user. Yeah. And and the game and the game company itself too.
ZTX 00:17:36 Yes. Sorry, Hila. I would love to add something, you know, I completely resonate with the points you've just made. And this really closely resembles how we think about it on ZT X's side as well. So, you know, not to disclose too much, but fully agreed on every single point, especially about creating these closed loops where the assets can be used in a very easy manner. I always like to compare, you know, the way we utilize OpenC or other marketplaces currently to just lane shopping for anything else.
ZTX 00:18:10 Like, how weird would it be if you were, let's say, researching a pleasure and the website that you doing it on, you know, you're looking at their at their products. You're looking at their mission statement, etcetera. But when you actually go to shop, it sends you an entirely different third party marketplace where all different brands just have their content intermingled. It just it does really make sense from any aspect that you look at it.
ZTX 00:18:37 And I think the way we've grown to say about assets for for games and click for web free games, NFTs is still very much colored by early era of NFTs, which were mostly PFPs or, you know, very much, you know, fine art and collector items. We think about this big marketplace where very diverse offering is browsed through. But that very often doesn't allow a game to actually showcase the utility of these assets. You know, it's just like a a picture. That works perfectly for a FP.
ZTX 00:19:10 It doesn't allow you to fully display the utility, the abilities that an entity can grant you any boosts in game. So I fully agree, and I think as we know, advance and and evolve those gains, displaying the utility and, you know, ways to utilize NFT assets going to evolve well beyond, you know, just like a placeholder image on a joint marketplace.
Hilal 00:19:35 Yeah. I think just to oh, I just wanted to add one more for the, like, the marketplace itself has such a, it's such a different experience versus open sea or glare because we, we can actual announcements posted within the marketplace, or we give updates to all of our users, anybody using that marketplace, anybody, all of our players is, there's a social feed within the the marketplace itself where people can post, like, like, a Twitter feed, or people can ask, like, trades, or people can talk about the game. So they're like, there's a social feed within the place where people can can converseate and and join together there.
Hilal 00:20:07 And then there's the the announcement page, and then there's you could have mints from, like, new mints, like new skins, new cosmetics, new sales directly in the marketplace. You can have a season pass in your game that then gives you a discount Mints directly on the marketplace. So I think, when you have your own system there and you're not reliant on all these other companies, the, the possibilities are endless and it just, and yeah, it just makes for a better user experience.
Legendary 00:20:33 Yeah. I think that's a very, very strong point that you're making.
Legendary 00:20:36 We've seen in the past with when when when blur launched back, obviously, had the incentive for people to move from open sea to blur, to farm the tokens there that we are as a community rather platform marketplace agnostic, and we don't build up loyalty with marketplace that easily, but once you have that extra information, once you have the ability, you know, to have that social feed coming to have info about the game to have specific discounts that are tied to your own in house marketplace, then you also give your users, your players a reason to be more, loyal and to be more interested in actually using that marketplace versus go shopping somewhere else.
Legendary 00:21:21 Apex is here with your hand up. Did you want to come in onto this discussion?
apix🎮 00:21:24 Yeah. I think another cool Cool. As part of that, if you launch your marketplace and a layer 2 is that you protectantly cover the gas fees for your users, which is kind of like, if you have an NFT marketplace, which is still similar to to marketplace, as we know, or you have to pay gas because you have to have a wallet and so on. It's still quite a lot of friction, especially for normal gamers, which is they don't know the game on their phone or whatever, and then they wanna sell an NFT and then they have to send them a wallet, get some money to to pay for gas or whatever. And if you launch your own Marketplace.
apix🎮 00:22:02 It's really easy to make that gas less, just cover the the small costs when you want an efficient leg or 2. I mean, after playing games like Pirate Nation, for example, who cover all the gas costs as a fully unchained game, and definitely makes the the oil experience so much much more easy.
Legendary 00:22:20 Yeah. I like the way how pirate chain does it where they also have the little notification log where they show you the transactions that happened and kinda used that to connect the game to the world of, web 3 and blockchain in a very very smooth, in a very smooth fashion that doesn't distract, doesn't take away and doesn't, you know, slap the WIP 3 component necessarily in your, in your face.
Legendary 00:22:48 Eliza, I also want to ask you because you've been, you know, reacting quite enthusiastic on these points before, how important do you think is it as a creator and gamer yourself to have that streamlined user experience when it comes onboarding new players to a game?
Elisa 00:23:06 In terms of marketplaces or just in general?
Legendary 00:23:08 In in terms of marketplaces, but maybe also in terms of not having necessarily the web 3 barriers that are paying for your own transaction fees, having your own wallets, but also specifically in terms of marketplaces.
Elisa 00:23:21 Yeah. No, for sure. I actually love that you brought this up because I was thinking about this this morning and I was thinking of like my goals in terms building my community. There's a lot of opportunities right now for, bringing, like, my community into play tests, but I'm very I'm very wary of of, like, exactly what you just said, like, the onboarding and whether it's gonna turn off. Like, I wanna make sure that, if I introduce them to, like, a web 3 gaming playtest, that it would be a good experience and they would maybe, you know, be interested in future play tests.
Elisa 00:23:58 So, yeah, I think, I think the whole wallet thing is a big one. I've considered, like, maybe hosting a seminar to, like, teach them how to make a wallet and, like, security risks and stuff because I'm not sure, you know, the wallet aspect is gonna be completely eliminated. I know a lot of projects, including CTX, you know, have, made it more seamless, but I still think, like, it's a core part of crypto and, self custody, having a wallet. So I don't think it's completely gonna disappear. In terms of the marketplaces, Yeah.
Elisa 00:24:37 I mean, this is a big one also just in terms of security, like, you know, if you're not familiar with OpenSea, how are you to know that something in your hidden tab is, you know, a scam and that if you accept it, whatever, like, they can drain your wallet. Like, there's so many ways, one is at risk. So I definitely think games should take it under their own responsibility and have their own market places ideally within the game so that, you know, the user is sure that this is like the actual real marketplace. I feel like there's a lot of risks if you're redirected to say Chrome.
Elisa 00:25:17 You know, literally be a fishing website, like, how are you to know that it's not? Yeah, I I did I it's it's a tough on, like, I I just think I need to be, like, also putting education out there. Like, it's it's gotten to that point. I'm I'm not convinced we'll see, like, completely seamless products just yet. So if if we wanna start already onboarding people, I think, yeah, we just need to perhaps educate, Yeah. Wish I had a metal answer for this one.
Legendary 00:25:54 No. That's that's a fantastic answer. And that's also a very, very important point that you're mentioning when it comes to, the security aspects of thing. 1 on crypto X, we kinda learned if there's news, there's an adverb that has excitement something the safest way is to go to the official projects page, to see if there's a link or post about that, and only then to follow that. And, obviously, that level of, like person's mind because they just don't have that same experience with scams and fishing links just being thrown around all the time.
Legendary 00:26:31 So having a way to access the marketplace from the game itself is a very crucial thing. And Carmel wanted to you because it's something that I've been thinking about myself and going a big back and forth on it.
Legendary 00:26:46 How do you, or where do you stand on the question whether a marketplace for a game should be in the game itself directly accessible from the game, basically without having to have a break having to leave that goal on the website and access it there, so I can just access from the game itself and stay within the game versus having that standalone marketplace where I might be able to have more features like, social feed or other things going on and have a reason to kind of interact with the game without necessarily needing to open and play it because it just can go on the marketplace in see what's going on in there because it just have a lot of information that I get there.
ZTX 00:27:27 Yeah. The the answer is, I think, why not both? So quite frankly, in terms of smart contracts, a marketplace is a relatively, to do. Also, because marketplaces have existed for such a long time now that there are, you know, plug and play solutions with are just being rehashed in terms of, you know, the front end and some social aspects collecting page.
ZTX 00:27:52 It's more about the UI by now than it is about actual engineering effort, you know, not to say it is not an engineering effort, but I'm sure you, everybody here agrees, similar to token staking, you know, inter staking has existed for such a long long time that you have now, like, plug and play solutions that you can just adapt. So if you go, go to the length of creating a marketplace, you know, for your company, for your game, for your product, it is from then on pretty easy for you to insert certain loops from that marketplace into your game.
ZTX 00:28:29 So I think it's as as long as have that infrastructure in place, which, you know, the majority of games are building or have already in place, it's pretty easy to integrate it. The question remains then when and how to integrate it in order for it to be seamless. Because, you know, just like walking up to a certain item in game, having to then deal with, you know, 15 pop ups, which overwhelm you with information is not a solution either. So I think it's then down to, you know, your game mechanics, your UI team to refine these loops in a way that they make sense.
ZTX 00:29:07 You know, for example, in ZT X, we we have different game looks like, for example, crafting and harvesting or, you know, digital fashion place you draw. So something that will for certain, have to happen in ZTX is, you know, as you explore around, maybe you walk into a digital store of your favorite brand, you can walk up and try it on in three d in game, which out leaving the main game, but, you know, as your avatar, but then you can also very seamlessly enter a panel which allows you to by these wearables right away.
ZTX 00:29:45 You don't have to, you know, now spend however many minutes exiting our location and going to the marketplace, which would lead to an insane, you know, like, drop out in user conversion, everything will happen very seamlessly within the name. And I think that's incredibly important for a social platform and a metaverse like ZTX, but I can also imagine for any type of a game, like beat a shooter, beat an RPG style, you know, exploration, open world situation. So important for you to not rip the player out of the immersion in game.
ZTX 00:30:22 You know, at the end of the the a day, we love games because they allow us to immerse ourselves, have this escape, you know, sort of widen out our experience. Think a marketplace exchange of assets is just a small piece of that, which can sometimes completely rip you out of that immersion. You know, you suddenly have to, like, pull wallet up. That's like a huge, a huge, topic that Apex until I'll also raise. Yeah. So 1 her percent, and at ZT X, we see it very similarly. The the the marketplace will very much be a feature that, you know, we will roll out sooner.
Legendary 00:31:00 Yeah. You're raising a fantastic point when it comes to game immersion. You don't want to. I was, I was playing big time with Moritz on the weekend. You don't want to be mining or and assume as you get your item, get a notification, get a pop up. This is, a golden the price is up 18.5% in the last twenty 4 hours. This is the floor price on the marketplace. It would completely break the gaming experience at that point. End. I I want to get you into discussion the gray and also change, change gears a bit on on our topic.
Legendary 00:31:34 You made a post very recently, and we talked about, you know, a bit of the euphoria being back, a bit of the excitement being back. And you made a post title the web 3 gaming, Andrew Goldrush has begun, and you raised quite a few points in that. And there's two specifically that I wanna take out, one of which was, every gaming project will launch a token now after the initial hype phase most tokens will be down only. And then you're making a very interesting point when it comes to user acquisition saying all of this is basically 0 sum for web 3 games when it comes to user acquisition tokens, a powerful user acquisition tools.
Legendary 00:32:15 But when everyone has access to the same tool, then no one really has an advantage. And this gold rush also trends towards an API war, which project is giving you the best yield on your capital and time. So in your opinion, what do games need to consider to ensure that their token design and that the token strategies are genuinely value driven in such an environment.
THE GWEI | ʌı 00:32:43 Yeah. Thanks for the, for that lead up. I think this is a really important, discussion to have I think the starting point is to recognize that, the web free gaming space in terms of users is, you know, very very small. Spaces are doing their part in expanding that audience set. Right? We're all working together to, you know, create better games within the web, web free space and really break through to try to attract more and more gamers into the space.
THE GWEI | ʌı 00:33:21 I think that's 1st and foremost what's needed for a true kind of adoption bull market to take place. We're early, and there are a lot of promising games and checks out there, and I think, quite a few of these will stick. And in some sense, it will be inevitable. However, if you zoom in to where we are right now, we are not there yet.
THE GWEI | ʌı 00:33:44 So as we go through this hype cycle, what happens is, you know, the early movers, that have already listed there or launched their token, they're they are the ones that are kind of sending the signal that, the liquidity, the interest, the hype, is coming back. That's gonna draw more attention of people who are in this space that are active, and all those people who have been dormant to come back into kind of the speculation sphere of tokens. But we we've seen this movie over and over again, whether it's bear mark as bull mark is, it doesn't really matter.
THE GWEI | ʌı 00:34:20 Because every single project is able to launch a token, what ends up happening is you create this macro incentive for the people who are involved in this space to basically spend their time finding the next thing that's gonna give them the highest return, right? And ultimately, that's return on your capital, but basically it's a return on your attention. And in the context of, you know, a lot of gains that are going to be releasing and coming to market relative to time, which is every person's primary constraint.
THE GWEI | ʌı 00:34:56 We just don't have enough time to dedicate to all the things that we're interested what you get is you get this kind of like hot potato effect, right, where mobs of wallets or users move from one project to another basically farming the returns. And this is not, this is not like a, this is just an insight that everyone should have because if you've been in this space long if you've we would have saw this, seen this with everything.
THE GWEI | ʌı 00:35:20 You know, whether it's the NFT meta, the white list grind, you know, DeFi summer L1L2s, right, the, the whole L2 narrative between, like, you know, who's gonna be the next L2 that's gonna launch a token and do an air drop can pain to the whole blur meta, like, this has repeated over and over again. It's gonna happen with wet three games, and the key constraint is time and use at the current moment. Having said that is not to say that, you know, projects shouldn't, you know, consider launching a token full stop.
THE GWEI | ʌı 00:35:52 There are very good reasons, where a certain type of cotoken design when it's, done specifically to augment and enhance the or game loop could be actually very effective. One of the other points that I make in that post is, I think project should probably think a bit more about wallet share and how you basically corner Wales wallets in terms of you know, having them have exposure to your token in terms of ownership and basically try to lock in their wallet share as much as possible.
THE GWEI | ʌı 00:36:28 Instead of what projects are generally focused on is trying to acquire a larger kind of DAU in a very, very small pond today. I can assure you that DAU is not that sticky. They are going to move on to the next thing that is basically, the the the shining object and perhaps offers, higher yield because they're just coming out of the gates. So in, in some sense, I think, within where we are today, you need to think a little bit differently, but then the ultimate view and the vision is still to basically expand the broader pie of web 3, and ultimately I think, everyone can benefit from that.
Legendary 00:37:07 Yeah. You made you made some very, very interesting points, which I want to dissect a bit and kind of take them by step. The first one was a bit on timing. You said if you launch a token, you kinda want to find the right timing for that. You don't want to be the first one to do it to end up providing liquidity for the projects launching after you. You don't want to the last one to do it and just completely miss the hype cycle by that altogether. Carmen, I quite would like to ask you CTX recently launched the token.
Legendary 00:37:41 Can you share a bit on the thought process on finding the right time to do the launch, not only given the general market iterations, but also looking at the basically web 3 gaming hype cycle itself.
ZTX 00:37:57 Yeah. Absolutely. And quite frankly, I love all the points you've just made by, I disagree to some extent with some of them, diplomatically, I would say I'm, like, in the middle. Between your opinion and then complete opposite. And let me let me unpack. So we just said, you know, you don't want to be first. You don't want to be the last. And I think timing matters immensely for the, you know, how successful a token launch is.
ZTX 00:38:31 But it also depends a lot how you define that success excess of the token launch is defined by the short term price movement. And that's how we encrypt or are, you know, just used to defining the momentum, the success of a project.
ZTX 00:38:51 I, however, believe that if your company, as you know, potentially a multi year execution strategy like for us at ZTX, launching a token is, of course, a very important milestone, but it's term token price is actually pretty insignificant for your execution as a team, as you move forward.
ZTX 00:39:13 So what I mean by that is that while, of course, we would all love for a token price to go up, I can, you know, use CTX token as a good case study, where for us, with our TGE, that is token generation event on 16th, we actually air dropped the majority of the initial liquidity to our early community. So we air dropped 4% of the entire token supply on that day. There were no lockups. There was no claim. People, you know, we didn't make people spend gas to claim anything. We just air dropped it to their wallet and took care of all the costs.
ZTX 00:39:49 And of course, on one hand, that is an incredible liquidity event for the community you know, it made a very big splash. On the flip side, however, we, as a company, have to accept it. Like you said, air drops do not necessarily lead to full user retention. Users have spent, you know, months supporting us, months, you know, trying to, of course, qualify for that airdrop, we have to take into account that, a a large part of these new newly created holders will actually, you know, monetize that token.
ZTX 00:40:24 And hence, a company who chooses to do an airdrop has to take into account that the downward pressure will need to be absorbed by the company itself. That's something we just took into account. So I guess what I'm trying to say is while I don't disagree with any of the points you've made, I also think that an airdrop in terms of marketing community building and also this initial distribution which you need. Like, sometimes you need the token out there to start integrating it into your in game economy as we are doing.
ZTX 00:40:57 That's why we really needed it out there before we released the better of our game, you know, post play TGE, and we are now integrating on the inside, was super important to us specifically in our very long term strategy, to release that in this trajectory. Yeah, I guess I just wanted to provide a counterpoint how, even if I agree with you, I also think some there are, you know, certain aspects which outweigh, the potential negatives in the short term.
Legendary 00:41:28 Great. I see with your hand up. I I know you wanna come back into that discussion. Take it away.
THE GWEI | ʌı 00:41:33 Yeah. Maybe just a quick point. I wanna be I wanna be clear. I I actually agree with everything that that you said. The way that I wrote that thread was a little bit tongue in cheek. In a sense that, is more predicting what will happen with a lot of these projects when they they are, probably not being too judicious or responsible with how they are, launching their token because they are swept up in the hoopla of the hype cycle that's undergoing. So they see it as a quick money making, proposition as opposed to a thoughtful, long term kind of strategic, lever that they can use to augment what it is that they're building.
THE GWEI | ʌı 00:42:12 So, you know, from a from a builder's perspective, the proper way of doing so is exactly what you've just outlined. And I think projects need to think about it from that strategic lens. Right? It's not, and a lot of it comes with, being disciplined. To to draw a contrast in terms of, like, what we are planning with ai arena, honestly, like, we're pretty cycle agnostic in terms of timing. At the end of the day, like, market conditions does not dictate when we launch a token is all predicated on do we feel prepared and confident in the structure of what we are launching?
THE GWEI | ʌı 00:42:50 And does it augment our product go to market strategy, all of those things. I think fortuitously, it's aligning with where macro is headed. I think, we're kind of lucky in that respect, but it's certainly not with, the perspective of trying to time the macro liquidity conditions, though, because I think if you do that is is probably not the the the the best approach So I just wanna say that, like, yeah, in the context of how I wrote that thread, it may come across as making these comments, in a certain way, but it was more in some ways ingest of, observing what is likely to happen in this space.
THE GWEI | ʌı 00:43:29 And it's a word of caution more than anything.
Legendary 00:43:32 Yeah. And I think it's a very, very, very fair word of caution. The second thing that I wanted to pick out from your thread was, and you made a very strong statement on that, which I love. You said web 3 is a place for whale games. Don't fight it. Embrace it, how do you think that a game can best embrace this whale game nature on the one hand Well, on the other hand, also making sure to ensure a balanced game economy.
THE GWEI | ʌı 00:44:02 Yeah. It's, it's a really good question. I don't know if there's any simple answers. I can only, come at it from the perspective of how we thought about AI, Reno, in the in the way that we've built it. Maybe a first point just on the insight of, the will game nature of web 3. And I think he'll all made a very interesting, observation or a point earlier. In the sense that, players when they are in cap, they're captivated within a particular kind of like game loop, kind of lose track in terms of the value that they're exchanging. Right?
THE GWEI | ʌı 00:44:39 And that that is true within a game, but if you observe what Web 3 is, if you take the entire entity of Web 3 and crypto, it is just a financialized game. Right? And I think we've all had moments where, you know, even, even the concept of ETH or Bitcoin is a bit abstract in the sense of what is that really worth in terms of, like, US dollars in fiat terms.
THE GWEI | ʌı 00:45:06 You know, it's very easy to spend one ETH on an NFT and not really think about what that means when you translate that to something like food bills that you would spend on a weekly basis to feed yourself, right, So that insight is important because when you think about Web 3, and I use this analogy in my conversation with someone else the other day, I said web 3 games are going to prove that, monetization velocity is going to be staggering relative to anything that we've ever witness in web suit.
THE GWEI | ʌı 00:45:38 And the reason is in general, like, in general context of, like, human life, let's say you go out, you probably, nowadays, you might have, like, a credit card or, you know, historically, you probably just had some cash in your wallet. You're basically like pre loading something with a amounts of money that you can spend, and you're limited to that kind of consumptive power. Even if you go into a casino, you probably go into it with this, like, risk management view of, I can only risk a $1000 because I know, you know, I left to my own devices. I may just ratchet up too far, and I come to regret it. Web 3 does not have such guardrails, right?
THE GWEI | ʌı 00:46:17 And your wallet the way to think about it for kind of digital natives is that your wallet is basically your entire life savings or your 401k. Right, or your retirement account. Like, a lot of people hold a giant amount of their wealth in these wallets. When you start to integrate that into, like, DeFi, into gaming, into all of these different patients, it's it becomes much less friction in terms of how things how people think about their spending behavior here, that insight can drive games design as well. Right? So from our perspective, from an AI arena perspective, the game is focused on competition.
THE GWEI | ʌı 00:46:53 And what we want is actually, for, for people to basically come together over time, and almost like collectively work on building the best AI to dominate the, the competition, which is at the heart the game. And one one of, like, the real world analogs that we use to, like, loosely model our our our game off of is Formula 1. If you think about what Formula 1 is, it is a whale game. Right? And, you know, a lot of these, like, constructors and companies hire a lot of engineers to best drivers in the world. They make massive amount of investments for this very high, purse, if you will, or reward.
THE GWEI | ʌı 00:47:33 At the end of the day. And the monetization is around the edges in terms of the audience around the sport. And and in doing so, what you're able to do is actually your, you can instead buys a lot of, like, capital spending from the whales that drive the game forward. And what you create is a very compelling competitive product that suck attention into it from the periphery in terms of fandom, in terms of people who can casually enjoy your game. And, and, and over time, you can use this like central at us to really galvanize and create more DAU around the edges that you can monetize in other ways.
THE GWEI | ʌı 00:48:06 So I don't know if that interests your question specifically, but you know, it it it's really how we think about the business model behind AI arena. And part of that, the starting point, and where our token plays a big role in is really to kind of galvanize this almost like investment view from a lot of the whales in to into our game first and use that to really enhance the competitive product that we can leverage to a large audience and captivating their attention.
Legendary 00:48:36 Yeah. That's a, that's a wonderful perspective and especially love the point on the spending behavior. Hilar, as a founder yourself, how do you approach this whale game nature of web 3?
Hilal 00:48:49 Yeah. I think that's one of the most appealing parts of building in web 3 and having that web 3 user base because when you look at traditional mobile games, free to play mobile games. I believe it's something across the line of 95% of users don't spend any money, or it's like 5% of users make up 90% of the spending total in game. So it's, like, it's really, really concentrated at the top where it's just that 5% is absolutely stomping on everybody else, and they're funding the entire game. And that 5% of users, the spending threshold, to be a part of that 5% is laughable in web 3 terms.
Hilal 00:49:28 People spend a $100 and now they're a whale in a web 2 game. You spend a $100 on gas fees in web 3 games. It's like, if you spend one east in in any web in any web 2 game, quote, unquote, you're, like, the top the top, the cream of the cream. You're one of the highest vendors ever here. It's like you're you're a small fish. So I think it's something how we researched it was one web three user equivalent to almost a 100 traditional web 2 mobile users in terms of spending power, purchasing power. So you could have a 1000 web 3 players. That's like having a 100,000 regular web 2 mobile players. So it's in terms of just pure purchasing power.
Hilal 00:50:08 And that's, that is really a feeling for, for many web through gaming studios for, for, for builders in the space because because of that strong purchasing power. So I think, and where does that come from? That comes from the fact that when you spend this money, you own the asset. You can actually trade it, in the future. It's not fully sunk cost. It's the ability to level it up, trade it, use it across games, all that stuff plays into the part as to why people are willing to spend more. So I think, from my perspective, we're when we're building up the product, we, it's it's really, really important. It is at the core foundation of how you monetize your your game. And, Yeah.
Hilal 00:50:47 I mean, the research in there is is is really, really strong, and it's, it's bullish, man. It's bullish.
Legendary 00:50:54 I love the research on that, and that that ratio web 3 to web 2 gamer. I quite would like to get your perspective yellow Panther into this discussion as a gamer yourself. We talked on other spaces, low about the challenges when it comes to onboarding traditional gamers to onboard the WIP 2 world, who the WIP 3 games. Do you think that this difference spending behavior is an additional challenge? Not basically the web 3 users are more likely to be power spenders, or is it just that in, at the end of the day, every game, no matter if it's web 2 or web 3 that has a monetized component to it has to deal with whales.
yellowpanther.moca 💎 00:51:32 Yo, to be honest, after going, you know, in the trenches on ground, going to both web 2 and web 3 gaming conferences, I can tell you that as long as the game is fun and it has the the reason No. You you give the gamers a reason to spend in the game or love the game. You will automatically attract wills and also attract, like, Daiheart supporters, right? And I was just recently over this weekend, I was just at, Gamescom Asia.
yellowpanther.moca 💎 00:52:05 Gamescom was originally from the biggest one of the biggest gaming cons in the world, but basically in Asia, you know, I see some of these super fans you know, queuing up for Spiderman 2, queuing up at PlayStation booth, Ubisoft, all these big names. Right? And it just reminded me how early, like, web tree gaming is because I realized that it actually takes time. To have, you know, wills and, you know, supporters to spend money in your game. And we are so early that that we already have several wheels and huge spending power.
yellowpanther.moca 💎 00:52:44 So I just can't wait to see how it progresses in the next 10 years or 20 years down the line because, web tree gaming has attracted more of the people with highest purchasing power and spending power in my opinion. And as we grow, as a industry, I think the spending power and you know, more wills, from web 2 will also come into web 3. So I think, like, for example, like, Ganshi Impact, like, one of the biggest, MMORPG by Hojiverse.
yellowpanther.moca 💎 00:53:17 You know, the people that actually spend there is, I would say, it's the you know, the the wheels make up, like, I think 3% of the entire game, right, but they they actually, spend the most. Out of everyone else, you know, the normal people. And when I'm when I'm talking about spending, right, that they they we're we're talking about a lot of money and it's like not just the, you know, 1 Eve or 2 if it's actually like, you know, 10 Eve at one release, 20 Eve at one release, and so on.
yellowpanther.moca 💎 00:53:48 And surprisingly, we are also seeing, similar trend in, you know, in ZT X, you know, Jeffrey, Gree, think that guy is a huge supporter in several projects. And, also, we are looking, we are seeing similar trend in, you know, both axis infinity, and also, parallel. Parallel has a huge, huge supporter in terms of, you know, a die hard you know, fans that actually would support every drop. And I think the next one, it's coming this week, and you guys I I don't know.
yellowpanther.moca 💎 00:54:21 I I wanna share the numbers with you guys, when it actually drops and see how many people and how fast it will sell yeah, so the spending power, it doesn't matter web to a web tree to conclude. As long as you give them a reason to spend and a good game, a good IP, then it will seat in its own way.
Legendary 00:54:39 Thank you for sharing your perspective yellow. It's been a fantastic discussion so far. I could carry this on for ages. But we do have a hard stop on the hour mark and want to be respectful of our speakers and of our audiences' time. So before we wrap it up, a quick question for both of you, Hilal's first, then Gway. It would be wonderful to hear what's next from the horizon for each of your games and ecosystems could you both share a milestone or an update or something that fans and players can look forward to before we wrap it up? Allow first.
Hilal 00:55:15 Yeah. I think the the biggest thing is our private beta is coming out really, really soon within the next I wanna say possibly next week, possibly in the next few weeks. And that's the we had the application up. It's one of the tweets around, like, a fifty to a hundred people will put in there. And then the public beta shortly after that. And then into the full release, like, we're we're 2 to 3 months away from from everything coming together and everything launching. So that is probably the biggest thing We also have our fidgetal, booster box.
Hilal 00:55:43 So it's a, fidgetal product where within each booster pack, you can play a tabletop game, like a traditional card game, like, u g o poke Pokemon, but there's also a QR code where you can scan the QR code within each pack and then mint the equivalent NFT assets on chain and then use those assets within our game and a future upcoming game. So, that was a hit, NFTNYC as a promotional product, and now we turned it into a full fledged product, and it's getting, a ton of interest the presales for that come out in, November as well. So I think that's the 2 biggest things on the horizon is our first founders set, digital set.
Hilal 00:56:21 And the beta, the beta for our for player games.
Legendary 00:56:25 Love it. Thank you so much. Definitely excited about digital. The gray, same question to you.
THE GWEI | ʌı 00:56:32 Alright. Yeah. Well, first of all, thanks for having me. This is always fun having a great discussion with, high caliber people. So yeah, with respect to AI arena, yeah, big things coming down pipeline. The, the main item that I wanna highlight is, obviously, we're gonna be launching our airdrop campaign probably in the next couple of months, we're targeting the start of, the core focal point of that campaign will be an incentive incentivized test net competition, which will likely start in January of 2024.
THE GWEI | ʌı 00:57:08 Details to come, think we're, we're going to be, trying out some very interesting mechanics in terms of this entire campaign. Can't share too much around that just yet, but, we'll be exciting once we get the ability to share more of that information. So, in terms of timeline, we're working very hard and judiciously towards that kind of January kickoff to this campaign, and we intend to be launched on MainNet by, late or late Q1 2024 or early Q2 2024 in terms of the game.
Legendary 00:57:44 So, looking forward to sharing more. Alright. Thank you so much, and thank you so much to all of our speakers. Thank you so much to everyone in the audience for joining our discussion today. Karma, I will leave the closing words to you.
ZTX 00:57:59 Of course. Thank you so much, legendary, for being a legendary host. Well, Hilal, I am really, really excited for the milestones of both Elyria as well as AI arena, you know, coming coming, from a very intense sprint at ZTX with our token launch And we are also, you know, right now, working towards our open beta ourselves. I know how insanely challenge it is. And at the same time, at the same time, incredibly rewarding.
ZTX 00:58:30 So, you know, all the more love to you guys, And all the more joy in, you know, spaces like this where we can openly exchange not only our experiences, but also, you know, outlook, sometimes the agree a little, or just show different, different perspectives on, you know, many, many roads leading to Rome. Also a huge thank you to every single content creator who has joined us today. At the very end of it all, guys, we are all building for people like you we really should and must be listening to your feedback openly like this.
ZTX 00:59:05 As I think you can provide some of the best insight terms of how the products can be improved. And also a huge thank you to every single person who has tuned in today in the name of ZT X, you know, we love hosting these open conversations, but also from me personally. You have given us an hour of your precious time in the and thank you so much. You know, I'm encouraging everybody to follow every single speaker right now here stage if you haven't yet.
ZTX 00:59:33 And also please tune closely to ZTX and to our, to our timeline because very soon, we will announce a discord event, a discord town hall with some special alpha this week. So, you know, keep your eyes on our timeline and see you next week on the next panel and in discord on the town hall later this week. Have a lovely day, everybody.
apix🎮 01:00:01 You too. Bye guys.
yellowpanther.moca 💎 01:00:02 Thank you guys.
Embarking on a Web3 Odyssey: The Future of Gaming Unveiled
Dive into a forward-thinking exploration of gaming's next frontier with industry leaders.
This transcript unveils a world where gaming and Web3 converge, revealing how this blend is reshaping the landscape of digital entertainment and user engagement.
Join us as we unravel the potential, challenges, and innovations driving the future of gaming in the Web3 era.
TRANSCRIPT
Legendary 00:02:21 Gm, gm, everyone, and welcome to our ZTX spaces. Welcome to the future of web 3 gaming.
Legendary 00:03:02 I'm absolutely delighted to host this space today with my co host Karma on the ZTX main account. We have a fantastic panel of speakers. We have the way the co founder, of AI Arena. We have Hilal with us, the co founder, of Valeria Studios, we have amazing creators with us as well. We have Yellow Panther. We have Apex, and we have Lisa. And we also have Moritz with us on stage 2 absolutely fantastic panel. And it's been 2 very, very interesting days, I would say, Everything is green. The charts are looking great. Apex, you posted yesterday.
Legendary 00:03:40 The market's up, NFT's up, mood is up. Definitely feel the same sense of excitement. However, sometimes I think it's easy to get caught up in charts when everything is green. And the, there is a danger of getting a little less productive. What about you karma? When the market's green, do you find it a bit more hard to focus and get tracked it by the charts or charts, or doesn't that change a thing for you?
ZTX 00:04:06 Hello, everybody. Lovely to be here. Again on spaces, also really pumped for the panel today. And yeah, legendary, I have to admit I am a prime example of a person caught in that never ending circle of it's over. We are so back. At least least in social sense. You know, I think if you work in web free full time over, you know, maybe a cycle of a few months, you really learn to look away from the charts.
ZTX 00:04:37 And unless you're a very active trader, over time, it just stops really mattering that much, you know, the price fluctuations, let's not be naive. Of course, I feel better when everything is green and my portfolio is pumping. But this ebb and flow is just something you get desensitized by, I think, over over a longer period of time?
Legendary 00:04:58 Yeah. I I feel that been in the market long enough that emotions get less and less, but there's still a sense. There's still a sense of excitement. Hilar, welcome to the stage. I saw you with your hand up. How you feel about the market and the distractions that come with green candles and charts?
Hilal 00:05:15 Yeah. I just wanted to say it's not the charts necessarily that distract me. Like, I never really checked the charts at all, but, man, the timeline on these days when when we're pumping like this, it's just way too entertaining because it's way too many good shit posts. It's way too funny. The timeline is distracting. That's that's the that's a real distraction. So I think it's okay to when when these type of big events happen, take a minute, go through the feed, see everybody's reactions, just kind of taking the moment, enjoy it, and then get back to work. But, yeah, not really the charges necessarily, but the timeline is just way too good. Content way too good at these times.
Legendary 00:05:50 I love it and definitely share that feeling its way as well. The great one I hear from you what's more distracting these days? Is it the charge, or is it the x timeline?
THE GWEI | ʌı 00:06:01 Oh, man. A little bit of both. You know, the vibes are back. It was I mean, we've been we've been grinding through, like, a pretty pretty crazy period of time, right, for, like, the last, whatever, 12 to 24 months. But certainly this, this, you know, surge last night, is, you know, a lot of people are probably screaming, like, inject this into my veins because we need more of this. I think you know, you can feel the momentum, really picking up. So it's exciting. I think it, you know, picks up the adrenaline, but I I think for builders, you know, we have we have a job to do.
THE GWEI | ʌı 00:06:42 We need to focus on the product first and foremost. So try not to get distracted by it, but, you know, I have a lot of friends here on stage and, you know, it it is entertaining to just follow follow all that activity and vibes on the on the time mind. So I think it's a little bit of both personally.
Legendary 00:06:58 Absolutely agree with that. And even as a content creator, often, I have, like, too many ideas and things to put out for a day but I also find myself in on on days like this to just scroll and see what other people are doing and shit posting, out do you feel about that as a creator, Lisa, welcome to the stage?
Elisa 00:07:17 Thank you, guys. Thank you for having me on. Maybe I'm a bit of a weirdo, but I definitely prefer when, the market's down just because it I feel like it gives me that sense of comfort. Like, oh, we still have time to build. We still have time to grow. And, yeah, when it's when it's the bull, I just remember last bull, like, everything is, sped up. The fomo is real miss out on, like, 10, 20 things a day.
Elisa 00:07:51 So, yeah, it's it's definitely, like, reality setting in that we need to kind of, like, hurry up. Like, we need to keep building and and kind of do it faster now. We need to get out of that comfort zone where we're just becoming a little bit slow, I feel. But, yeah, but I agree with Wayne. Like, at the end of the day, you just you just, keep working and keep having conviction in, like, the thesis that, you've been having, like, you know, for me, Stephanie, Webster Gaming.
Elisa 00:08:22 I'm already starting to feel a bit fomo like, oh, maybe I should be accumulating more on like, out altcoins, all that kind of stuff, but then I kind of think to myself, you know, don't let the euphoria get to you you have a thesis, you know, web through gaming, that's what you believe in. Just just keep building in that. Thank you for having me.
Legendary 00:08:42 That's a that's a fantastic perspective, actually. And I I do resonate with that. You know, myself hosting a daily news show with my co speech rec was in the audience with us as well. A couple of weeks ago, we had the feeling we could keep up with what's going the news. That was a good feeling that you do your show. You do your 1 hour of talking and a half the feeling that you covered the day, but it's definitely not the case anymore. Yellow Panther. Welcome to the stage. What about you? Do you feel more comfortable in a bear market that gives you more time to build, or do you feel more comfortable now than we have a couple days of more action and green in the market.
yellowpanther.moca 💎 00:09:20 21,000,000 Bitcoin 1 CTX. 21,000,000 Bitcoin, 1 Yellow Panther. I mean, I I've been building. I mean, we've been building for the past one and a half years already. I'm just super, excited because, you know, recently, I get to meet a lot of founders and like that, which you do you you probably will not have the opportunity to do that during a bull market. Right, because there will be so much noise, so much distraction all around. So the best time to build is, you know, the past one and a half years. So whoever is still here, you know, kudos to you guys.
yellowpanther.moca 💎 00:09:57 But, you know, no matter the bear, the bull, you know, we still do what we do on a daily basis, Like, you know, legend, there is still gotta run his show with beach checks. You know, Maurice's still out here, making dog threats, karma's still out here with her amazing voice. But, yeah, just super happy. And and I think today also reminded us and encouraged us that, you know, encouraged us that we made the right decision to not give up and still pursue till today, and this is just a little taste of it.
yellowpanther.moca 💎 00:10:27 And I think when the actual bull actually comes, So I think you guys will actually feel a lot more better and a lot more rewarding and, like, you know, all types of feet.
Legendary 00:10:38 Absolutely agree with you. And there's not only only one yellow Panther. There's only one Apyx as well. Welcome to the stay How are you doing? Love it. Moritz, do I even have to ask you if you're looking at the charts these days as a trader?
Moritz 00:11:01 Yeah. Honestly, I'm not I'm I'm mainly trading NFTs. I don't create crypto. Like, all my crypto that I have is, like, buy an old, but I I've been definitely looking at the charts, these past days more than once per day. And, yeah, one thing that I wanted to mention is actually that we saw the, like, like, the excitement for web 3 gaming, heating up before the crypto prices went up, which is kinda interesting. Of of course, I don't want to say, like, there's a correlation. It's just a coincidence.
Moritz 00:11:32 But we feel like talking about the web 3 gaming will lead the next full run for such a long time now, and it's just funny to see that, like, we saw web 3 gaming heating up in the last 2 weeks and no finally crypto also growing up.
Legendary 00:11:46 Yeah. No. That's actually a, a good point. And I think the sentiment even on a medium term perspective over the last couple of months changed from the point that we talked about games that we are excited to play to not really managing to keep up with all the play tests and all the gaming news that have been coming out over the last couple of weeks, specifically, and that's definitely a massive, massive change. And with that being said, I also wanna get into this discussion. We have quite a few topics to cover.
Legendary 00:12:16 Gonna talk a bit about onboarding user experience in web 3 gaming, get a bit into economics, but also, more into the future of web 3 gaming, which, after all, is the title of our spaces, quite what quite what I'd like to start with, a question to you, Halal, you made a post on X a couple of days ago saying that every game will have the own marketplace that will act as a one stop shop for the ecosystem. The floor is no longer on blur. It is on the Valeria marketplace. This is quite a significant move.
Legendary 00:12:54 This is a significant announcement to make. Could you share a bit more on the rationale on the thinking behind focusing on crafting and, having your own marketplace that basically unites and brings together your ecosystem.
Hilal 00:13:12 Yeah. That's a great question. I think the biggest thing for users of your game, and, I mean, we saw this last bolt on as well actually moved away from all of the marketplaces and had their own marketplace on on Ronin. It's just convenience for the players. And it's the team's ability to fully customize the marketplace to have the best user experience for that audience. So every game has different, every game has different unique things to it with depending on how the NFTs are used in game, depending on the ecosystem, the economics of the of the NFTs.
Hilal 00:13:50 So for us, we have our in game assets, then we have outside of the game assets. We have our token, and it's a I wouldn't say it's a complex ecosystem, but there are a lot of different moving parts and having them all in one spot makes it much better from a user experience and also just the way the marketplace opens up within our web app itself directly takes you to the Valeria marketplace where you can have your magic and equality, non custodial wallet, take those, assets you get in game. We have dichotomy set up on the back end. Covers all the gas fees on matter. And then theres can just trade and, without even interacting with crypto at all.
Hilal 00:14:28 So just having that freedom to fully customize the experience for the user to make it make the onboarding experience as seamless as possible, but also just make the user experience enjoyable instead of having to send them to a bunch of different web pages, having, like, a one stop shop is just the, the convenience factor. And I think once you players in your game. It's it's what makes the most sense. You you can control everything. You can have the the royalties there be implemented. ERC 721 C and 11 55 C. So, yeah, I think, I think it's a no brainer in the end free games.
Legendary 00:15:04 Yeah. Useful centric design is clearly key. Speaking of which from, from your perspective, you know, you talked a lot about user experience, a lot about the importance that people, you don't see that crypto's necessary going in the background that they have the most seamless experience. What other elements when you talk about the market place specifically make it truly user centric in your perspective for a web 3 game.
Hilal 00:15:34 I would say, okay, another side benefit that I just wanted to add in before I answer that is when you have the, the own token within that marketplace, a lot of the users, kind of stay within the system. So we have our Vowel token. And whenever somebody sells land, like, we've seen this so many times. Somebody will sell land for, like, 7000 Vowel tokens. And because they got the Vowel token by staking their land. It kind of feels free in a sense. So you use even though, like, there's a there's a liquidity pool, there's a value for that token out there in the market, the market can choose whatever value that may be. They stay within the ecosystem. They'll take those vowels, and then they'll go spend it on boosted pack.
Hilal 00:16:13 So or they'll go spend it on in game assets. So I think that ties into the user experience where you could have that one token across 4 different collections and it kinda keeps the user in there versus constantly cashing out, cashing out, cashing out, or using Ethereum where Ethereum, you might use it here for this for this asset, but then go a different entity collection, go buy some yoga assets or go buy this asset or that asset. So the the user the user experience for having that one token across all four different collections, makes it very convenient.
Hilal 00:16:46 And when you have it denominated in that token itself, so it's it's a trick where guess the mobile games you'll see in the industry, they have, they have so many different currencies within apps that the user in the end doesn't really know how much they're really spending. They get lost in the sauce where it's like, I'm using 4000 gold coins and 7000 gems, but they don't know that's like 500 they just spent. So when you have just the the currency there, it it makes it a lot easier to for gamers to just spend that currency versus having, like, a USD value or even ETH, which people tied to, like, an investment versus just like a gaming utility point.
Hilal 00:17:25 So that aspect as well that, yeah, I'd say it's a super beneficial for the user. Yeah. And and the game and the game company itself too.
ZTX 00:17:36 Yes. Sorry, Hila. I would love to add something, you know, I completely resonate with the points you've just made. And this really closely resembles how we think about it on ZT X's side as well. So, you know, not to disclose too much, but fully agreed on every single point, especially about creating these closed loops where the assets can be used in a very easy manner. I always like to compare, you know, the way we utilize OpenC or other marketplaces currently to just lane shopping for anything else.
ZTX 00:18:10 Like, how weird would it be if you were, let's say, researching a pleasure and the website that you doing it on, you know, you're looking at their at their products. You're looking at their mission statement, etcetera. But when you actually go to shop, it sends you an entirely different third party marketplace where all different brands just have their content intermingled. It just it does really make sense from any aspect that you look at it.
ZTX 00:18:37 And I think the way we've grown to say about assets for for games and click for web free games, NFTs is still very much colored by early era of NFTs, which were mostly PFPs or, you know, very much, you know, fine art and collector items. We think about this big marketplace where very diverse offering is browsed through. But that very often doesn't allow a game to actually showcase the utility of these assets. You know, it's just like a a picture. That works perfectly for a FP.
ZTX 00:19:10 It doesn't allow you to fully display the utility, the abilities that an entity can grant you any boosts in game. So I fully agree, and I think as we know, advance and and evolve those gains, displaying the utility and, you know, ways to utilize NFT assets going to evolve well beyond, you know, just like a placeholder image on a joint marketplace.
Hilal 00:19:35 Yeah. I think just to oh, I just wanted to add one more for the, like, the marketplace itself has such a, it's such a different experience versus open sea or glare because we, we can actual announcements posted within the marketplace, or we give updates to all of our users, anybody using that marketplace, anybody, all of our players is, there's a social feed within the the marketplace itself where people can post, like, like, a Twitter feed, or people can ask, like, trades, or people can talk about the game. So they're like, there's a social feed within the place where people can can converseate and and join together there.
Hilal 00:20:07 And then there's the the announcement page, and then there's you could have mints from, like, new mints, like new skins, new cosmetics, new sales directly in the marketplace. You can have a season pass in your game that then gives you a discount Mints directly on the marketplace. So I think, when you have your own system there and you're not reliant on all these other companies, the, the possibilities are endless and it just, and yeah, it just makes for a better user experience.
Legendary 00:20:33 Yeah. I think that's a very, very strong point that you're making.
Legendary 00:20:36 We've seen in the past with when when when blur launched back, obviously, had the incentive for people to move from open sea to blur, to farm the tokens there that we are as a community rather platform marketplace agnostic, and we don't build up loyalty with marketplace that easily, but once you have that extra information, once you have the ability, you know, to have that social feed coming to have info about the game to have specific discounts that are tied to your own in house marketplace, then you also give your users, your players a reason to be more, loyal and to be more interested in actually using that marketplace versus go shopping somewhere else.
Legendary 00:21:21 Apex is here with your hand up. Did you want to come in onto this discussion?
apix🎮 00:21:24 Yeah. I think another cool Cool. As part of that, if you launch your marketplace and a layer 2 is that you protectantly cover the gas fees for your users, which is kind of like, if you have an NFT marketplace, which is still similar to to marketplace, as we know, or you have to pay gas because you have to have a wallet and so on. It's still quite a lot of friction, especially for normal gamers, which is they don't know the game on their phone or whatever, and then they wanna sell an NFT and then they have to send them a wallet, get some money to to pay for gas or whatever. And if you launch your own Marketplace.
apix🎮 00:22:02 It's really easy to make that gas less, just cover the the small costs when you want an efficient leg or 2. I mean, after playing games like Pirate Nation, for example, who cover all the gas costs as a fully unchained game, and definitely makes the the oil experience so much much more easy.
Legendary 00:22:20 Yeah. I like the way how pirate chain does it where they also have the little notification log where they show you the transactions that happened and kinda used that to connect the game to the world of, web 3 and blockchain in a very very smooth, in a very smooth fashion that doesn't distract, doesn't take away and doesn't, you know, slap the WIP 3 component necessarily in your, in your face.
Legendary 00:22:48 Eliza, I also want to ask you because you've been, you know, reacting quite enthusiastic on these points before, how important do you think is it as a creator and gamer yourself to have that streamlined user experience when it comes onboarding new players to a game?
Elisa 00:23:06 In terms of marketplaces or just in general?
Legendary 00:23:08 In in terms of marketplaces, but maybe also in terms of not having necessarily the web 3 barriers that are paying for your own transaction fees, having your own wallets, but also specifically in terms of marketplaces.
Elisa 00:23:21 Yeah. No, for sure. I actually love that you brought this up because I was thinking about this this morning and I was thinking of like my goals in terms building my community. There's a lot of opportunities right now for, bringing, like, my community into play tests, but I'm very I'm very wary of of, like, exactly what you just said, like, the onboarding and whether it's gonna turn off. Like, I wanna make sure that, if I introduce them to, like, a web 3 gaming playtest, that it would be a good experience and they would maybe, you know, be interested in future play tests.
Elisa 00:23:58 So, yeah, I think, I think the whole wallet thing is a big one. I've considered, like, maybe hosting a seminar to, like, teach them how to make a wallet and, like, security risks and stuff because I'm not sure, you know, the wallet aspect is gonna be completely eliminated. I know a lot of projects, including CTX, you know, have, made it more seamless, but I still think, like, it's a core part of crypto and, self custody, having a wallet. So I don't think it's completely gonna disappear. In terms of the marketplaces, Yeah.
Elisa 00:24:37 I mean, this is a big one also just in terms of security, like, you know, if you're not familiar with OpenSea, how are you to know that something in your hidden tab is, you know, a scam and that if you accept it, whatever, like, they can drain your wallet. Like, there's so many ways, one is at risk. So I definitely think games should take it under their own responsibility and have their own market places ideally within the game so that, you know, the user is sure that this is like the actual real marketplace. I feel like there's a lot of risks if you're redirected to say Chrome.
Elisa 00:25:17 You know, literally be a fishing website, like, how are you to know that it's not? Yeah, I I did I it's it's a tough on, like, I I just think I need to be, like, also putting education out there. Like, it's it's gotten to that point. I'm I'm not convinced we'll see, like, completely seamless products just yet. So if if we wanna start already onboarding people, I think, yeah, we just need to perhaps educate, Yeah. Wish I had a metal answer for this one.
Legendary 00:25:54 No. That's that's a fantastic answer. And that's also a very, very important point that you're mentioning when it comes to, the security aspects of thing. 1 on crypto X, we kinda learned if there's news, there's an adverb that has excitement something the safest way is to go to the official projects page, to see if there's a link or post about that, and only then to follow that. And, obviously, that level of, like person's mind because they just don't have that same experience with scams and fishing links just being thrown around all the time.
Legendary 00:26:31 So having a way to access the marketplace from the game itself is a very crucial thing. And Carmel wanted to you because it's something that I've been thinking about myself and going a big back and forth on it.
Legendary 00:26:46 How do you, or where do you stand on the question whether a marketplace for a game should be in the game itself directly accessible from the game, basically without having to have a break having to leave that goal on the website and access it there, so I can just access from the game itself and stay within the game versus having that standalone marketplace where I might be able to have more features like, social feed or other things going on and have a reason to kind of interact with the game without necessarily needing to open and play it because it just can go on the marketplace in see what's going on in there because it just have a lot of information that I get there.
ZTX 00:27:27 Yeah. The the answer is, I think, why not both? So quite frankly, in terms of smart contracts, a marketplace is a relatively, to do. Also, because marketplaces have existed for such a long time now that there are, you know, plug and play solutions with are just being rehashed in terms of, you know, the front end and some social aspects collecting page.
ZTX 00:27:52 It's more about the UI by now than it is about actual engineering effort, you know, not to say it is not an engineering effort, but I'm sure you, everybody here agrees, similar to token staking, you know, inter staking has existed for such a long long time that you have now, like, plug and play solutions that you can just adapt. So if you go, go to the length of creating a marketplace, you know, for your company, for your game, for your product, it is from then on pretty easy for you to insert certain loops from that marketplace into your game.
ZTX 00:28:29 So I think it's as as long as have that infrastructure in place, which, you know, the majority of games are building or have already in place, it's pretty easy to integrate it. The question remains then when and how to integrate it in order for it to be seamless. Because, you know, just like walking up to a certain item in game, having to then deal with, you know, 15 pop ups, which overwhelm you with information is not a solution either. So I think it's then down to, you know, your game mechanics, your UI team to refine these loops in a way that they make sense.
ZTX 00:29:07 You know, for example, in ZT X, we we have different game looks like, for example, crafting and harvesting or, you know, digital fashion place you draw. So something that will for certain, have to happen in ZTX is, you know, as you explore around, maybe you walk into a digital store of your favorite brand, you can walk up and try it on in three d in game, which out leaving the main game, but, you know, as your avatar, but then you can also very seamlessly enter a panel which allows you to by these wearables right away.
ZTX 00:29:45 You don't have to, you know, now spend however many minutes exiting our location and going to the marketplace, which would lead to an insane, you know, like, drop out in user conversion, everything will happen very seamlessly within the name. And I think that's incredibly important for a social platform and a metaverse like ZTX, but I can also imagine for any type of a game, like beat a shooter, beat an RPG style, you know, exploration, open world situation. So important for you to not rip the player out of the immersion in game.
ZTX 00:30:22 You know, at the end of the the a day, we love games because they allow us to immerse ourselves, have this escape, you know, sort of widen out our experience. Think a marketplace exchange of assets is just a small piece of that, which can sometimes completely rip you out of that immersion. You know, you suddenly have to, like, pull wallet up. That's like a huge, a huge, topic that Apex until I'll also raise. Yeah. So 1 her percent, and at ZT X, we see it very similarly. The the the marketplace will very much be a feature that, you know, we will roll out sooner.
Legendary 00:31:00 Yeah. You're raising a fantastic point when it comes to game immersion. You don't want to. I was, I was playing big time with Moritz on the weekend. You don't want to be mining or and assume as you get your item, get a notification, get a pop up. This is, a golden the price is up 18.5% in the last twenty 4 hours. This is the floor price on the marketplace. It would completely break the gaming experience at that point. End. I I want to get you into discussion the gray and also change, change gears a bit on on our topic.
Legendary 00:31:34 You made a post very recently, and we talked about, you know, a bit of the euphoria being back, a bit of the excitement being back. And you made a post title the web 3 gaming, Andrew Goldrush has begun, and you raised quite a few points in that. And there's two specifically that I wanna take out, one of which was, every gaming project will launch a token now after the initial hype phase most tokens will be down only. And then you're making a very interesting point when it comes to user acquisition saying all of this is basically 0 sum for web 3 games when it comes to user acquisition tokens, a powerful user acquisition tools.
Legendary 00:32:15 But when everyone has access to the same tool, then no one really has an advantage. And this gold rush also trends towards an API war, which project is giving you the best yield on your capital and time. So in your opinion, what do games need to consider to ensure that their token design and that the token strategies are genuinely value driven in such an environment.
THE GWEI | ʌı 00:32:43 Yeah. Thanks for the, for that lead up. I think this is a really important, discussion to have I think the starting point is to recognize that, the web free gaming space in terms of users is, you know, very very small. Spaces are doing their part in expanding that audience set. Right? We're all working together to, you know, create better games within the web, web free space and really break through to try to attract more and more gamers into the space.
THE GWEI | ʌı 00:33:21 I think that's 1st and foremost what's needed for a true kind of adoption bull market to take place. We're early, and there are a lot of promising games and checks out there, and I think, quite a few of these will stick. And in some sense, it will be inevitable. However, if you zoom in to where we are right now, we are not there yet.
THE GWEI | ʌı 00:33:44 So as we go through this hype cycle, what happens is, you know, the early movers, that have already listed there or launched their token, they're they are the ones that are kind of sending the signal that, the liquidity, the interest, the hype, is coming back. That's gonna draw more attention of people who are in this space that are active, and all those people who have been dormant to come back into kind of the speculation sphere of tokens. But we we've seen this movie over and over again, whether it's bear mark as bull mark is, it doesn't really matter.
THE GWEI | ʌı 00:34:20 Because every single project is able to launch a token, what ends up happening is you create this macro incentive for the people who are involved in this space to basically spend their time finding the next thing that's gonna give them the highest return, right? And ultimately, that's return on your capital, but basically it's a return on your attention. And in the context of, you know, a lot of gains that are going to be releasing and coming to market relative to time, which is every person's primary constraint.
THE GWEI | ʌı 00:34:56 We just don't have enough time to dedicate to all the things that we're interested what you get is you get this kind of like hot potato effect, right, where mobs of wallets or users move from one project to another basically farming the returns. And this is not, this is not like a, this is just an insight that everyone should have because if you've been in this space long if you've we would have saw this, seen this with everything.
THE GWEI | ʌı 00:35:20 You know, whether it's the NFT meta, the white list grind, you know, DeFi summer L1L2s, right, the, the whole L2 narrative between, like, you know, who's gonna be the next L2 that's gonna launch a token and do an air drop can pain to the whole blur meta, like, this has repeated over and over again. It's gonna happen with wet three games, and the key constraint is time and use at the current moment. Having said that is not to say that, you know, projects shouldn't, you know, consider launching a token full stop.
THE GWEI | ʌı 00:35:52 There are very good reasons, where a certain type of cotoken design when it's, done specifically to augment and enhance the or game loop could be actually very effective. One of the other points that I make in that post is, I think project should probably think a bit more about wallet share and how you basically corner Wales wallets in terms of you know, having them have exposure to your token in terms of ownership and basically try to lock in their wallet share as much as possible.
THE GWEI | ʌı 00:36:28 Instead of what projects are generally focused on is trying to acquire a larger kind of DAU in a very, very small pond today. I can assure you that DAU is not that sticky. They are going to move on to the next thing that is basically, the the the shining object and perhaps offers, higher yield because they're just coming out of the gates. So in, in some sense, I think, within where we are today, you need to think a little bit differently, but then the ultimate view and the vision is still to basically expand the broader pie of web 3, and ultimately I think, everyone can benefit from that.
Legendary 00:37:07 Yeah. You made you made some very, very interesting points, which I want to dissect a bit and kind of take them by step. The first one was a bit on timing. You said if you launch a token, you kinda want to find the right timing for that. You don't want to be the first one to do it to end up providing liquidity for the projects launching after you. You don't want to the last one to do it and just completely miss the hype cycle by that altogether. Carmen, I quite would like to ask you CTX recently launched the token.
Legendary 00:37:41 Can you share a bit on the thought process on finding the right time to do the launch, not only given the general market iterations, but also looking at the basically web 3 gaming hype cycle itself.
ZTX 00:37:57 Yeah. Absolutely. And quite frankly, I love all the points you've just made by, I disagree to some extent with some of them, diplomatically, I would say I'm, like, in the middle. Between your opinion and then complete opposite. And let me let me unpack. So we just said, you know, you don't want to be first. You don't want to be the last. And I think timing matters immensely for the, you know, how successful a token launch is.
ZTX 00:38:31 But it also depends a lot how you define that success excess of the token launch is defined by the short term price movement. And that's how we encrypt or are, you know, just used to defining the momentum, the success of a project.
ZTX 00:38:51 I, however, believe that if your company, as you know, potentially a multi year execution strategy like for us at ZTX, launching a token is, of course, a very important milestone, but it's term token price is actually pretty insignificant for your execution as a team, as you move forward.
ZTX 00:39:13 So what I mean by that is that while, of course, we would all love for a token price to go up, I can, you know, use CTX token as a good case study, where for us, with our TGE, that is token generation event on 16th, we actually air dropped the majority of the initial liquidity to our early community. So we air dropped 4% of the entire token supply on that day. There were no lockups. There was no claim. People, you know, we didn't make people spend gas to claim anything. We just air dropped it to their wallet and took care of all the costs.
ZTX 00:39:49 And of course, on one hand, that is an incredible liquidity event for the community you know, it made a very big splash. On the flip side, however, we, as a company, have to accept it. Like you said, air drops do not necessarily lead to full user retention. Users have spent, you know, months supporting us, months, you know, trying to, of course, qualify for that airdrop, we have to take into account that, a a large part of these new newly created holders will actually, you know, monetize that token.
ZTX 00:40:24 And hence, a company who chooses to do an airdrop has to take into account that the downward pressure will need to be absorbed by the company itself. That's something we just took into account. So I guess what I'm trying to say is while I don't disagree with any of the points you've made, I also think that an airdrop in terms of marketing community building and also this initial distribution which you need. Like, sometimes you need the token out there to start integrating it into your in game economy as we are doing.
ZTX 00:40:57 That's why we really needed it out there before we released the better of our game, you know, post play TGE, and we are now integrating on the inside, was super important to us specifically in our very long term strategy, to release that in this trajectory. Yeah, I guess I just wanted to provide a counterpoint how, even if I agree with you, I also think some there are, you know, certain aspects which outweigh, the potential negatives in the short term.
Legendary 00:41:28 Great. I see with your hand up. I I know you wanna come back into that discussion. Take it away.
THE GWEI | ʌı 00:41:33 Yeah. Maybe just a quick point. I wanna be I wanna be clear. I I actually agree with everything that that you said. The way that I wrote that thread was a little bit tongue in cheek. In a sense that, is more predicting what will happen with a lot of these projects when they they are, probably not being too judicious or responsible with how they are, launching their token because they are swept up in the hoopla of the hype cycle that's undergoing. So they see it as a quick money making, proposition as opposed to a thoughtful, long term kind of strategic, lever that they can use to augment what it is that they're building.
THE GWEI | ʌı 00:42:12 So, you know, from a from a builder's perspective, the proper way of doing so is exactly what you've just outlined. And I think projects need to think about it from that strategic lens. Right? It's not, and a lot of it comes with, being disciplined. To to draw a contrast in terms of, like, what we are planning with ai arena, honestly, like, we're pretty cycle agnostic in terms of timing. At the end of the day, like, market conditions does not dictate when we launch a token is all predicated on do we feel prepared and confident in the structure of what we are launching?
THE GWEI | ʌı 00:42:50 And does it augment our product go to market strategy, all of those things. I think fortuitously, it's aligning with where macro is headed. I think, we're kind of lucky in that respect, but it's certainly not with, the perspective of trying to time the macro liquidity conditions, though, because I think if you do that is is probably not the the the the best approach So I just wanna say that, like, yeah, in the context of how I wrote that thread, it may come across as making these comments, in a certain way, but it was more in some ways ingest of, observing what is likely to happen in this space.
THE GWEI | ʌı 00:43:29 And it's a word of caution more than anything.
Legendary 00:43:32 Yeah. And I think it's a very, very, very fair word of caution. The second thing that I wanted to pick out from your thread was, and you made a very strong statement on that, which I love. You said web 3 is a place for whale games. Don't fight it. Embrace it, how do you think that a game can best embrace this whale game nature on the one hand Well, on the other hand, also making sure to ensure a balanced game economy.
THE GWEI | ʌı 00:44:02 Yeah. It's, it's a really good question. I don't know if there's any simple answers. I can only, come at it from the perspective of how we thought about AI, Reno, in the in the way that we've built it. Maybe a first point just on the insight of, the will game nature of web 3. And I think he'll all made a very interesting, observation or a point earlier. In the sense that, players when they are in cap, they're captivated within a particular kind of like game loop, kind of lose track in terms of the value that they're exchanging. Right?
THE GWEI | ʌı 00:44:39 And that that is true within a game, but if you observe what Web 3 is, if you take the entire entity of Web 3 and crypto, it is just a financialized game. Right? And I think we've all had moments where, you know, even, even the concept of ETH or Bitcoin is a bit abstract in the sense of what is that really worth in terms of, like, US dollars in fiat terms.
THE GWEI | ʌı 00:45:06 You know, it's very easy to spend one ETH on an NFT and not really think about what that means when you translate that to something like food bills that you would spend on a weekly basis to feed yourself, right, So that insight is important because when you think about Web 3, and I use this analogy in my conversation with someone else the other day, I said web 3 games are going to prove that, monetization velocity is going to be staggering relative to anything that we've ever witness in web suit.
THE GWEI | ʌı 00:45:38 And the reason is in general, like, in general context of, like, human life, let's say you go out, you probably, nowadays, you might have, like, a credit card or, you know, historically, you probably just had some cash in your wallet. You're basically like pre loading something with a amounts of money that you can spend, and you're limited to that kind of consumptive power. Even if you go into a casino, you probably go into it with this, like, risk management view of, I can only risk a $1000 because I know, you know, I left to my own devices. I may just ratchet up too far, and I come to regret it. Web 3 does not have such guardrails, right?
THE GWEI | ʌı 00:46:17 And your wallet the way to think about it for kind of digital natives is that your wallet is basically your entire life savings or your 401k. Right, or your retirement account. Like, a lot of people hold a giant amount of their wealth in these wallets. When you start to integrate that into, like, DeFi, into gaming, into all of these different patients, it's it becomes much less friction in terms of how things how people think about their spending behavior here, that insight can drive games design as well. Right? So from our perspective, from an AI arena perspective, the game is focused on competition.
THE GWEI | ʌı 00:46:53 And what we want is actually, for, for people to basically come together over time, and almost like collectively work on building the best AI to dominate the, the competition, which is at the heart the game. And one one of, like, the real world analogs that we use to, like, loosely model our our our game off of is Formula 1. If you think about what Formula 1 is, it is a whale game. Right? And, you know, a lot of these, like, constructors and companies hire a lot of engineers to best drivers in the world. They make massive amount of investments for this very high, purse, if you will, or reward.
THE GWEI | ʌı 00:47:33 At the end of the day. And the monetization is around the edges in terms of the audience around the sport. And and in doing so, what you're able to do is actually your, you can instead buys a lot of, like, capital spending from the whales that drive the game forward. And what you create is a very compelling competitive product that suck attention into it from the periphery in terms of fandom, in terms of people who can casually enjoy your game. And, and, and over time, you can use this like central at us to really galvanize and create more DAU around the edges that you can monetize in other ways.
THE GWEI | ʌı 00:48:06 So I don't know if that interests your question specifically, but you know, it it it's really how we think about the business model behind AI arena. And part of that, the starting point, and where our token plays a big role in is really to kind of galvanize this almost like investment view from a lot of the whales in to into our game first and use that to really enhance the competitive product that we can leverage to a large audience and captivating their attention.
Legendary 00:48:36 Yeah. That's a, that's a wonderful perspective and especially love the point on the spending behavior. Hilar, as a founder yourself, how do you approach this whale game nature of web 3?
Hilal 00:48:49 Yeah. I think that's one of the most appealing parts of building in web 3 and having that web 3 user base because when you look at traditional mobile games, free to play mobile games. I believe it's something across the line of 95% of users don't spend any money, or it's like 5% of users make up 90% of the spending total in game. So it's, like, it's really, really concentrated at the top where it's just that 5% is absolutely stomping on everybody else, and they're funding the entire game. And that 5% of users, the spending threshold, to be a part of that 5% is laughable in web 3 terms.
Hilal 00:49:28 People spend a $100 and now they're a whale in a web 2 game. You spend a $100 on gas fees in web 3 games. It's like, if you spend one east in in any web in any web 2 game, quote, unquote, you're, like, the top the top, the cream of the cream. You're one of the highest vendors ever here. It's like you're you're a small fish. So I think it's something how we researched it was one web three user equivalent to almost a 100 traditional web 2 mobile users in terms of spending power, purchasing power. So you could have a 1000 web 3 players. That's like having a 100,000 regular web 2 mobile players. So it's in terms of just pure purchasing power.
Hilal 00:50:08 And that's, that is really a feeling for, for many web through gaming studios for, for, for builders in the space because because of that strong purchasing power. So I think, and where does that come from? That comes from the fact that when you spend this money, you own the asset. You can actually trade it, in the future. It's not fully sunk cost. It's the ability to level it up, trade it, use it across games, all that stuff plays into the part as to why people are willing to spend more. So I think, from my perspective, we're when we're building up the product, we, it's it's really, really important. It is at the core foundation of how you monetize your your game. And, Yeah.
Hilal 00:50:47 I mean, the research in there is is is really, really strong, and it's, it's bullish, man. It's bullish.
Legendary 00:50:54 I love the research on that, and that that ratio web 3 to web 2 gamer. I quite would like to get your perspective yellow Panther into this discussion as a gamer yourself. We talked on other spaces, low about the challenges when it comes to onboarding traditional gamers to onboard the WIP 2 world, who the WIP 3 games. Do you think that this difference spending behavior is an additional challenge? Not basically the web 3 users are more likely to be power spenders, or is it just that in, at the end of the day, every game, no matter if it's web 2 or web 3 that has a monetized component to it has to deal with whales.
yellowpanther.moca 💎 00:51:32 Yo, to be honest, after going, you know, in the trenches on ground, going to both web 2 and web 3 gaming conferences, I can tell you that as long as the game is fun and it has the the reason No. You you give the gamers a reason to spend in the game or love the game. You will automatically attract wills and also attract, like, Daiheart supporters, right? And I was just recently over this weekend, I was just at, Gamescom Asia.
yellowpanther.moca 💎 00:52:05 Gamescom was originally from the biggest one of the biggest gaming cons in the world, but basically in Asia, you know, I see some of these super fans you know, queuing up for Spiderman 2, queuing up at PlayStation booth, Ubisoft, all these big names. Right? And it just reminded me how early, like, web tree gaming is because I realized that it actually takes time. To have, you know, wills and, you know, supporters to spend money in your game. And we are so early that that we already have several wheels and huge spending power.
yellowpanther.moca 💎 00:52:44 So I just can't wait to see how it progresses in the next 10 years or 20 years down the line because, web tree gaming has attracted more of the people with highest purchasing power and spending power in my opinion. And as we grow, as a industry, I think the spending power and you know, more wills, from web 2 will also come into web 3. So I think, like, for example, like, Ganshi Impact, like, one of the biggest, MMORPG by Hojiverse.
yellowpanther.moca 💎 00:53:17 You know, the people that actually spend there is, I would say, it's the you know, the the wheels make up, like, I think 3% of the entire game, right, but they they actually, spend the most. Out of everyone else, you know, the normal people. And when I'm when I'm talking about spending, right, that they they we're we're talking about a lot of money and it's like not just the, you know, 1 Eve or 2 if it's actually like, you know, 10 Eve at one release, 20 Eve at one release, and so on.
yellowpanther.moca 💎 00:53:48 And surprisingly, we are also seeing, similar trend in, you know, in ZT X, you know, Jeffrey, Gree, think that guy is a huge supporter in several projects. And, also, we are looking, we are seeing similar trend in, you know, both axis infinity, and also, parallel. Parallel has a huge, huge supporter in terms of, you know, a die hard you know, fans that actually would support every drop. And I think the next one, it's coming this week, and you guys I I don't know.
yellowpanther.moca 💎 00:54:21 I I wanna share the numbers with you guys, when it actually drops and see how many people and how fast it will sell yeah, so the spending power, it doesn't matter web to a web tree to conclude. As long as you give them a reason to spend and a good game, a good IP, then it will seat in its own way.
Legendary 00:54:39 Thank you for sharing your perspective yellow. It's been a fantastic discussion so far. I could carry this on for ages. But we do have a hard stop on the hour mark and want to be respectful of our speakers and of our audiences' time. So before we wrap it up, a quick question for both of you, Hilal's first, then Gway. It would be wonderful to hear what's next from the horizon for each of your games and ecosystems could you both share a milestone or an update or something that fans and players can look forward to before we wrap it up? Allow first.
Hilal 00:55:15 Yeah. I think the the biggest thing is our private beta is coming out really, really soon within the next I wanna say possibly next week, possibly in the next few weeks. And that's the we had the application up. It's one of the tweets around, like, a fifty to a hundred people will put in there. And then the public beta shortly after that. And then into the full release, like, we're we're 2 to 3 months away from from everything coming together and everything launching. So that is probably the biggest thing We also have our fidgetal, booster box.
Hilal 00:55:43 So it's a, fidgetal product where within each booster pack, you can play a tabletop game, like a traditional card game, like, u g o poke Pokemon, but there's also a QR code where you can scan the QR code within each pack and then mint the equivalent NFT assets on chain and then use those assets within our game and a future upcoming game. So, that was a hit, NFTNYC as a promotional product, and now we turned it into a full fledged product, and it's getting, a ton of interest the presales for that come out in, November as well. So I think that's the 2 biggest things on the horizon is our first founders set, digital set.
Hilal 00:56:21 And the beta, the beta for our for player games.
Legendary 00:56:25 Love it. Thank you so much. Definitely excited about digital. The gray, same question to you.
THE GWEI | ʌı 00:56:32 Alright. Yeah. Well, first of all, thanks for having me. This is always fun having a great discussion with, high caliber people. So yeah, with respect to AI arena, yeah, big things coming down pipeline. The, the main item that I wanna highlight is, obviously, we're gonna be launching our airdrop campaign probably in the next couple of months, we're targeting the start of, the core focal point of that campaign will be an incentive incentivized test net competition, which will likely start in January of 2024.
THE GWEI | ʌı 00:57:08 Details to come, think we're, we're going to be, trying out some very interesting mechanics in terms of this entire campaign. Can't share too much around that just yet, but, we'll be exciting once we get the ability to share more of that information. So, in terms of timeline, we're working very hard and judiciously towards that kind of January kickoff to this campaign, and we intend to be launched on MainNet by, late or late Q1 2024 or early Q2 2024 in terms of the game.
Legendary 00:57:44 So, looking forward to sharing more. Alright. Thank you so much, and thank you so much to all of our speakers. Thank you so much to everyone in the audience for joining our discussion today. Karma, I will leave the closing words to you.
ZTX 00:57:59 Of course. Thank you so much, legendary, for being a legendary host. Well, Hilal, I am really, really excited for the milestones of both Elyria as well as AI arena, you know, coming coming, from a very intense sprint at ZTX with our token launch And we are also, you know, right now, working towards our open beta ourselves. I know how insanely challenge it is. And at the same time, at the same time, incredibly rewarding.
ZTX 00:58:30 So, you know, all the more love to you guys, And all the more joy in, you know, spaces like this where we can openly exchange not only our experiences, but also, you know, outlook, sometimes the agree a little, or just show different, different perspectives on, you know, many, many roads leading to Rome. Also a huge thank you to every single content creator who has joined us today. At the very end of it all, guys, we are all building for people like you we really should and must be listening to your feedback openly like this.
ZTX 00:59:05 As I think you can provide some of the best insight terms of how the products can be improved. And also a huge thank you to every single person who has tuned in today in the name of ZT X, you know, we love hosting these open conversations, but also from me personally. You have given us an hour of your precious time in the and thank you so much. You know, I'm encouraging everybody to follow every single speaker right now here stage if you haven't yet.
ZTX 00:59:33 And also please tune closely to ZTX and to our, to our timeline because very soon, we will announce a discord event, a discord town hall with some special alpha this week. So, you know, keep your eyes on our timeline and see you next week on the next panel and in discord on the town hall later this week. Have a lovely day, everybody.
apix🎮 01:00:01 You too. Bye guys.
yellowpanther.moca 💎 01:00:02 Thank you guys.
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