Just had a call with someone with 8 figures net worth in ETH and came away really impressed.
He shared with me how he made 7 figures in USDC before age 30:
1. 4:30 AM wakeup
2. Cold showers
3. Gratitude journal
4. Meditate
5. ETH presale
Glad to announce I'm now working with the big brains at
@Delphi_Digital
, helping games figure out their economies & NFT strategies, & working on a newsletter covering the metaverse & games
If you're working in crypto & games, say hi -- DMs open :)
Gave some hints to it, but
@gabrielleydon
concretized the principles in their press release.
FREE-TO-OWN
Has two aspects:
(1) The community begins for FREE.
(2) The NFTs they get, are OWNED by them.
(3) Those NFTs are factories that generate new NFTs (for gameplay, cosmetics).
Monetization in play-and-earn relies on [1] velocity and [2] investment
It means creating a stable base, which makes players to want to invest (emotionally, socially) in your game world
A short🧵
Beyond creator royalties, allowing for affiliate royalties, permanent royalties to minter.
More and more social norms can be be made explicit and set as immutable.
Incentives can align again.
It is a good day.
Creators first.
Programmable royalties reify the social contract of secondary market transactions / royalties by enforcing it at the smart contract level.
Along with a slew of other features that creators can use — elegant tools, for a more civilized age.
@qntm
i think it’s the existence of speedups in emulators. the ability to speed up to exactly the pace creates a brand new game, cutting out the grind
speed up game generation -> idle game + IAP game generation
tied together by a lack of willingness to tolerate walking, boredom
"The future, and legacy of blockchain games"
Games as meaning generation engines, soulbound tokens, and 'Third Tier Game Development'
Bifurcation between play-and-earn and x-to-earn systems
Thoughts, and predictions on where we can go from here
🧵
STEPN Sprinting Away
STEPN is one of the first move-to-earn apps to break into the mainstream by gamifying lifestyle.
We break down STEPN, analyze its volume, and introduce a novel game economy design concept: net-positive and net-negative sinks.
🧵
Make play to earn & play and earn sustainable with crazy fun core loops that respect users’ time,
so we can advance the state of UX in crypto x games and trigger the next golden age in humanity
Seriously, let’s not mess this up by focusing on number go up
The show's release caused interest in Cyberpunk 2077 to rise dramatically, with more concurrent players on Steam than during the game's launch and led it to become "the most-played single player-only game on Steam" by the end of the month.
$BREED LBP, and single-sided staking
@BreederDAO
, the factory of the metaverse, and a
@Delphi_Digital
portco, is currently having their LBP on Copper Launch
We share some catalysts, details about the LBP, and our long term thesis on
@BreederDAO
🧵
should i introduce myself @ parties:
1) i invest in games
2) i’m a game designer
3) i invest in crypto x games
4) i invest in web3 projects
5) i have 220 apm in starcraft brood war
Broke: saying play-to-earn is unsustainable unless people keep paying
Woke: Moving towards play-and-earn and focusing on games as products
Bespoke: Thinking about what this new incentive alignment technology can bring to the process of building games, and the player experience
Game Designer lens for play-to-earn
What new things can I allow players within the games to experience?
1. Cooperation supercharged by economic incentives
2. Democratizing ability to earn from being good at games
Just the start.
Think, design…
COMMUNITY STARTS FOR FREE
@DigiDaigaku
started as a free, stealth mint. This fulfils two objectives:
(a) No whitelists etc that creates tiers.
(b) No 'revenue' upfront. (actually, taking investment from web3 profit-motivated players)
Rise of Kingdoms -- or, what does it feel like to be King?
Analyzing a commercially successfully MMORTS / 4X game (>60M downloads, >1 billion USD revenue) to set the ground for play-and-earn crypto gaming thesis
🧵
Finally, starting free avoids scam-like behavior:
SELL, and then fail to deliver. (Incentivizes walking away -- all the revenue is done!)
You transform fans into best advocates for an upcoming game.
I love being a game economist / game economy designer / tokenomist
If you love game theory, incentive design, behavioural economics, micro/macro, this is where you can put it into practice
I want to tour university Economics departments and tell them of this wondrous new world
What games did you spend the most time on while growing up?
I spent lots of time playing Starcraft, Warcraft III + associated custom maps, Diablo II and World of Warcraft.
Taking NFTs as incentive alignment is reminiscent of
@lootproject
, except
@limitbreak
also takes a 10% transaction fee on NFTs, which allows them to generate rev, and invest that into the game development.
To date (21 days), there has been 3.9K ETH in vol. That's 600K revenue.
TOWARDS MORE GRANULAR DEFINITIONS OF IN-GAME SINKS
Sinks are mechanisms you introduce to remove resources from your economy.
- Net positive sink
After one year, you end up with more of the resource you wanted to sink
- Net negative sink
After one year, you end up with less
Anybody making a web3 games NEEDS to be looking at what
@ValeriaStudios
is doing right now. They are the true cutting edge.
- ERC1155C and ERC721C
- Private market place using
@Snag_Solutions
and
@limitbreak
payment processor
- Enforced trading of NFTs in their own ERC20 token…
Don't design mechanisms to keep number going up, regardless of value
Design mechanisms to incentivize people to add value to the ecosystem
So that the number will go up, organically
It gives the right incentive alignment, as the team is rewarded in the NFTs and therefore, they're driving ALL the economic relevance to the original NFTs. (see: Metaversus level 8)
Casual games are woefully underrated/built in web3 right now.
Sure, we're all incredibly online, and have amazing experiences in core games.
... but Building games that can appeal to 100s of millions necessitates those games being accessible to those 100s of millions of gamers.
Why is it called
@limitbreak
?
(1) Final Fantasy: Limit Break.
(2) The company that aims to break the limit on the most expensive NFT with its monetization design.
(3) Breaking the app store limit of $100 IAP per transaction (F2P) means breaking limits on total revenue.
Down to build blockchain games that can absorb a very healthy amount of
[1] player demand for fun (games as products)
[2] player speculation (GameFi)
[3] player spend (where players joyfully spend)
[4] players that play for free
Only… is the market ready?
F2P Virtual Economies — Monopsony
You can (mainly) only buy from the developer. Supply and demand is not a contributing factor to price.
P&E Virtual Economies — Bazaar
The developer sets up the rules by which currency and assets are generated, and players trade in that world.
Did you know the Roblox Item market [the Catalogue], which Roblox mints and profits from, has a 30% take rate?
Btw, 29 percent of Roblox games users were aged from 9 to 12 years worldwide.
A 5-minute glossary for blockchain games — what is “blockchain gaming”?
Blockchain Gaming: An emerging field where games are built with blockchain serving an infrastructural or foundational purpose in the game.
More definitions 🧵👇
The more I study Virtual Economy design, the more I realize very few games are going to make it in play to earn / play and earn.
You need differentiation to reward player skill & player coordination. And economists to build monitoring & make recs.
Otherwise you're flying blind.
The second point of course is ownership.
This is a classic argument: players will be more invested when they own their NFTs.
But even better, these NFTs represent some economic utility in the context of the game.
When did we scam ourselves into thinking players were scared of loss of assets?
The best-selling board game in the world was Monopoly, which was all “about destroying economic opponents”.
Down to see some blockchain games with that level of risk
Ownership w chance of loss
We want the economics majors who love thinking about games & their economies.
If you got excited playing AH on WoW.
If you loved the Eve Online economy.
If you can nerd out for 1 hour about improving Axie's P2E.
If you want to design & test new mechanisms and incentives...
DM.
Crypto gaming is literally going to create a massive new job industry - game economists and game data scientists
Literally going to elevate economics majors out of poverty
Which brings us to the discussion of the 3rd aspect: Factory NFTs.
@gabrielleydon
's question to game designers: how do you design a million-dollar feature?
With crypto, and its ability to unlock >$100 IAP spend, and
@limitbreak
, it's been discovered.
Scarcity, and production.
‘web3 is not blockchain, decentralization — it’s about a sense of shared destiny
..
They might not even be there for the game-
The community is a destination, the game is merely a tool for being part of that community.’
— Alex Arias (Trailblazer Games) at
@PlayVentures
summit