Anthony Cheng
@anthonyxcheng
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everything consumer crypto @newmancapitalvc ;
Joined December 2012
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Last Seen Profiles
Pinned Tweet
Btc season 2 playbook 🐱
Runes take over (Runestones,
@PupsToken
,
@rune_coin
) -> Runes flow into L1 Native (
@LiquidiumFi
,
@Bitflow_Finance
, etc) -> Hits limit and we move to L2
Powered by
@XverseApp
@TaprootWizards
👀
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We are ready for Runes
I’m excited to announce that my company
@ord_io
just raised a $2M pre-seed round to spearhead our expansion into Runes!
Co-led by
@BTCFrontierFund
and
@sora_ventures
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1/19 Here's a 🧵 on why web3 games CPI (specifically ad-platforms like Facebook/Google) is high despite the highest amount of wallets per capita locations (e.g. SEA) are supposed to be cheap.
+ some bonuses
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Gathered my recent comments on all the web2 turned web3 game studios. Here are a few common mistakes I see, and how they can turn it around to make god spot (still up for grab)
🧵
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A deep dive into monetization for web3 games. Highlighted some of the key concepts on what and why you need to measure 👇
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1/ EthDenver was an incredible event with a great turnout (although I would like to see more hackers than investors). Here are a few of my thoughts 🧵
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1/ 🚀 Newman Capital’s Exciting Journey in Bitcoin DeFi
As pioneers in the BTC and Stacks ecosystem, we are thrilled to announce deeper engagements and strategic collaborations within our portfolio, including
@StackingDao
&
@Bitflow_Finance
, driving innovation and accessibility…
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Thanks
@3XPgg
for inviting. Pumped to be moderating this shooter panel. Already got all these questions on my to mind for
@fourzerotwo
from
@12am
,
@marcmercuri
from
@playSHRAPNEL
and
@RyanEver
from
@BR1INFINITE
.
If you have anything you want to ask them, DM me your questions
📣
@3XPgg
Panel Announcement
Building a Web3 Shooter
🎙️ Moderator:
@Anthonyxcheng
of
@Newmancapitalvc
🎤
@Fourzerotwo
of
@12am
's
@DEADROP
🎤
@Marcmercuri
of
@playSHRAPNEL
🎤
@RyanEver
of
@BR1INFINITE
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This is the what your screens are for on the Friday nights
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Earning
#bitcoin
as cash back is the best mass adoption strategy. Same principle as wechat pay using red pocket as trojan horse but instead of your friends paying for the incentives, Adidas and Walmart are paying
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evereything irl meeting opp cost has to be offset by a potential 10x deal or else not worth it...friends are always 1000x tho, ykwya
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Long time coming with the crew
@gabusch
@YieldGuild
, let’s elevate web3 gaming to the next level together…come join the movement 🔥
1/ Announcing Strategic Investment (Alliance) in
@YieldGuild
Games (YGG)
Learn more about our latest investment and partnership to discover how we will together contribute to the expansion of
#web3
gaming in Hong Kong.
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Dialed into a zoom meeting with my name music, I told founder this is my music computer. He said it’s cool, my last name is song 😏
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Tl;dr nobody has figured it out yet and almost everything is case by case. We should experiment more…too little or too much decentralize are both bad
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"Future games, should they choose to, could create a set of base assets that then seed user-generated lore or internal development. The game world is itself an image model, video games are both a place to be and a desirable frame for future images."
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Ux parity for web 3 games is first step to mass adoption. Excited to be working with Openfort to push web3 to the next level
Exciting news! We raised funding to streamline crypto account management & empower programmable transactions with robust API endpoints.
Our platform enables developers to connect users to the full range of web3 opportunities seamlessly.
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Look who will be on
@binance
?!
@Memeland
@memecoin
LFG! Proud for
@Newmancapitalvc
to be the first investor. Congratulations to
@9gagceo
!
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Let’s make web3 payment more consumer friendly
1/ We are thrilled to announce we have raised $2.7M to date to build Suberra! Funds raised will be used to accelerate growth, scale up operations and expand the team.
Full details here 👇
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Online dating 5 years ago, you ask for insta, 2 years ago you ask for TikTok, now you gotta ask for zkproof
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Come find us on our first Web3 game event this Sunday (Jun 18th) in the Bay Area! We have an amazing lineup of speakers
@shimacapital
@GumiCryptos
@OKX_Ventures
@Com2uS
@CarbGames
@playSHRAPNEL
@crypto_unicorns
@LitProtocol
+ more 🔥
More Info + RSVP:
🚀 Join the
#Web3
Gaming Revolution with Newman Capital! Don't miss out on
#networking
opportunities and insights from our partner,
@anthonyxcheng
.
🗓️ : Jun 18, 1 PM - 5 PM (GMT-7)
📍 : Onepiece Lab Office, Santa Clara, CA
RSVP :
#Gaming
#NewmanCapital
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Bear market is the best time to rethink about monetization and unit economics. Join me on the 15th for the
@Newmancapitalvc
@0xPolygonLabs
web3 business model workshop
📅 Mark your calendars - 15 May!
Join our partner
@anthonyxcheng
in our upcoming workshop as part of the
@0xPolygonLabs
#DevXGlobalTour
Hackathon - APAC Edition.
📝 "Designing a Winning Business Model with Newman Capital"
⏰ 15 May - 10 PM SGT/2 PM UTC
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Solution: In-game NFTs should have permanently economically relevance
First, broaden the funnel with non-nft content. Then understand your game economy to design your NFTs on game progression content that has permanent relevance.
@0xRyze
has a good article on it
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This is so true haha. And I get annoyed when people speak so slow. If you are recording a voice message, I will usually play it at 1.5 speed
I am not good at public speaking. I speak way too fast. I suppose it is a side effect of listening to audiobooks at 2x speed. Also lots of hmm, er, etc. A lot to improve.
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I am going to be playtesting as many web3 games as possible both desktop and mobile in the next 6-9 months before they all come out. Will be posting about my experience no filter. Ping me if you have a sick title that you want me to try 🔥
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LFG, this is an idea that we have been cooking up for a while. Founders are the best investors and we can help each other like no others. Can’t wait for the next gen of New(wo)man to come through 🔥🔥🔥
The idea of Newman evolving into an Founder Collective
Background: Newman been able to doing anything is interesting (sometimes like a degen) mainly because we are a proprietary firm without LPs. We can do farming, trading memecoins, doing OTCs, investing in primary,…
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Are we reaching the limit now? If it's gonna be 1000+ for 12 hours, i am convinced we need l2 now lol
Btc season 2 playbook 🐱
Runes take over (Runestones,
@PupsToken
,
@rune_coin
) -> Runes flow into L1 Native (
@LiquidiumFi
,
@Bitflow_Finance
, etc) -> Hits limit and we move to L2
Powered by
@XverseApp
@TaprootWizards
👀
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Let's bring in more real consumer into web3
Excited to be working with
@Complex
on this mission
The wait is over! 🎉 Newman Group x
@Complex
Chinese 🤝
We're excited to announce our official
#Web3
partnership, leading the way for mass adoption! Join us at
#ComplexCon
Hong Kong 2024 as we spearhead the integration of Web2 and Web3.
#NewmanGroup
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If you are in HK this week, hit up
@adrianlai2022
and
@realcyrusip
...if you are in NY this week, hmu
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I need all the experts here to tell me how much this
@doodles
is worth on
@LithiumFinance
testnet
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Looking forward to
@Official_GDC
. Lmk if you will be around!
Throwback badge from my first GDC
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Did we just kickstarted the runes season last nights? $pups 10x action basically right after 👀👀👀
💙 ᛤ Big thank you to everyone who joined us for Runes Night, a community event hosted by Newman Capital,
@Ordinals_Asia
, and
@XverseApp
!
Special shoutout to our guest,
@LeonidasNFT
(building
@ord_io
and host of
@TheOrdinalShow
), for his inspiring speech.
Gratitude to our…
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@gabrielleydon
@nn_blossoms
@hype_eth
Less than 6 is an understatement. Working with this guy back in MZ days…seriously questioned if he actually sleep or not lol…he’d be first to know about everything and would randomly see him walking out of the office at 3am lol
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Anime 👀
.
@Newmangrp
is all about culture and animation has always been a big part of culture. How can I be not excited by what
@ZAGABOND
,
@animecoin
and
@Azuki
are doing? It would be uniquely beautiful.
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Next generation web3 UX powered by Orby
gm 👋 We’re back from hermit mode, enlightened!
We're thrilled to introduce intent-driven interoperability via Orby and the Orb Stack to power the modular future with millions of rollups.
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Let’s talk about how web3 games are evolving tonight
🚨SET REMINDERS 🫠 TODAY 12AM EST // 9PM PST
🤑"WEB3 GAME PROGRESSION"
🎮
@spawnpoint__
x
@Newmancapitalvc
🧠CO-HOSTS:
@MeeZeesGames
|
@anthonyxcheng
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Another must read from the
@MetaPortal_DAO
@jxck_eth
Especially you are looking to provide better web3 gamers onboarding experience
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As an early stage consumer startup trying to find pmf, it’s good to find user but much more important to get evangelist
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Runessss 👀👀👀
Join us on April 5th at Runes Night, hosted by Newman Capital,
@Ordinals_Asia
&
@XverseApp
!
📍 Newman Office
🍹 Gourmet refreshments served
👕 Exclusive merch
👀 Special guest will dial in during the event..
Sign up here:
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Solution: Attract and create with your community
Find your early players through launching a killer trailer on platform like IGN. Gather a community and show them updates. Build a story collaboratively like how
@Adimverse
is doing for building characters. Get buy in from day 1
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See you all on Saturday
@AlphaLab_Cap
What projects are going to weather winter the best? What are VC's still interested in investing in? Come listen to our panel
@EthereumDenver
on Feb 25th at 4pm
Featuring
@mikojava
from
@GumiCryptos
,
@anthonyxcheng
from
@Newmancapitalvc
, and
@CarlKVogel
at
@6thManVentures
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Finding your path in web3...tune in tomorrow
With the chads from
@scalene_xyz
How do you craft your own path in Web3? ⚒️
Hear directly from the
@gmvn_official
judges,
@anthonyxcheng
from
@Newmancapitalvc
, John from Trinity and our Co-Founders
@kevinjlu
and
@andyteecf
.
Register down below: 👇
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The question is not whether DAO will have a future but what kind of DAO structure is going to get us there
~40% of Nouns are quitting the DAO and claiming a refund
Noun
#1
sold for 613 ETH in August '21 ($1.9M at the time)
Now Nouns are only going for around 35 ETH ($40k)
Some holders think the $30M treasury is being thrown out the window
Here's what's causing problems:…
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Time to revisit the one-size-fits-all cross chain messaging solution as we are approaching the app-chain world.
@0xOrbLabs
is making that happen and we wrote a quick piece for you all to take a sneak peek
We're proud to announce that we've invested in
@0xOrbLabs
- a team dedicated to building a more efficient world for cross-chain messaging 🧵👇
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Majority of game driven NFTs should be launched for free or maintain at a fair value (<$20 USD, microtransactions) to encourage actual players to participate
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points are unless if you have no pmf...stop wasting time coming up with airdrop if you can't figure out retention
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Tokenomics should be your strongest weapon of long tail engagement retention
1/ Some people think designing "tokenomics" just means setting a token distribution and vesting schedule
Read on for tips from an economy designer on what the design process should look more like to help a project reach its full potential (even if you don't have a token) 👇
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convinced that UGC economics management will be the main driver of games/apps adopting web3 structure...ownership is the second degree effect of UGC economics
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3/ One particular session that I really enjoyed was at the
@1kxnetwork
hacker house while
@drouyang
from
@Snarkify_ZKP
educated us on the ZK hardware acceleration and the major problems people are trying to solve.
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2.5% is too aggressive of an assumption. My guess is 0.5% would be the sweet spot for marketplaces if one is willing to pay any at all. This 12.45x ps is going to look more like ~60-70x at least assuming they can sustain retention
aggregate-to-own playbook by
@blur_io
some stats:
annualized volume on blur is ~$10.27b
with a 2.5% marketplace fee, blur would generate ~$257m in revenue
with the current fdv of $3.2b, blur would have a p/s ratio of ~12.45x
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6/ Other theme that I saw that were interesting and worth thinking about in 2023
- Wallet & UX
- Payments
- Music NFT
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Announcing our investment in
@TaprootWizards
Excited to join the ride with
@udiWertheimer
@ercwl
to make Bitcoin magical. And yes, you will see more wizard action in Asia soon 🧙🧙🧙
We're thrilled to announce that Newman Capital is the sole venture investor from Asia. A warm welcome aboard to
@TaprootWizards
! Excited to support
@udiWertheimer
and
@ercwl
on this magical journey. Together, let's make Bitcoin magical! ✨
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Let’s go
@jasondchap
@awettermann
Will Web3 gaming onboard the next billion users? 🧐
Today, we are hosting a Twitter Spaces about Web3 Gaming to discuss that and more! 🎮
⏰ 1 PM ET
Joined by:
@anthonyxcheng
@jasondchap
@awettermann
@dotta
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Monetization conversion and price design is definitely an art in both consumer and enterprise. One thing that’s sure of, gating items that were once free is the hardest transition for users
One of the most common mistakes I see from subscription apps?
Making the free product ~too~ good.
Many founders say they'll change the paywall to optimize conversion later on, but that’s hard to do. Here’s why ⬇️
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When we play poker, do you want to settle in cash (my mom), venmo (you normies), usdc (sort of crypto), eth/btc (i like you), or
@Blast_L2
points (you my chad)
How to define crypto nativeness as a person?
If is the first bucket of gold of this person is from crypto.
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Web3 Games Now
Tokenization -> Speculators and handful of players -> Lack of gameplay and sink -> Asset draw down -> 0
Future
Proven game loops from playtest -> Launch -> Identify asset ownership demand for tokenization -> Speculation supported by intrinsic sink -> 100
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Is there any playtest / QA service DAO out there? Seems like that is something people should create. Lo-key distribution as well...but not the whole point
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This really hurts device and game interoperability…
4/ Games can't unlock features with NFTs/crypto assets:
Premium content or functionality in-app must be unlocked with an in-app purchase. Presumably this could be an NFT purchase, but not an NFT already owned by a player or brought in from another ecosystem.
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@Newmancapitalvc
is here to bridge the gap between west and east
For any US-based crpyto founders, pls ping me if you want to set up anything in Hong Kong - I am here to help.
I would let you know the first-hand information of crpyto in HK - it’s more than just licenses. E.g. tons of Chinese gaming giants are already setting up crypto arms in…
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When players are willing and okay with spending more than what they earn, then blockchain games are ready to take off
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Mistake 2: NFT everything
Ownership is important but selling everything as NFT is going narrow down your top funnel player conversion. Even worse, NFT traders who bought in are mostly just looking for quick return and not the enjoyment of gameplay. Cursed problem
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This is why we have been bullish on HK. We have more stuff for y’all very soon
1/ We have been very active for the last 12 months, you might wonder why we're investing so much in Hong Kong initiatives. The answer lies in our commitment to Ecosystem Nurturing, Talent Attraction, Community Building, Long-Term Viability & Fueling City Momentum.
Let's go👇🏼
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It was an awesome weekend at THH
@hackerhouses
. A great panel on web3 games with
@AppWorks
@ivcryptofund
@BMCGamesPortal
and met some potential founders at office hours
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Thrilled to witness the transformation of the Bitcoin ecosystem into a new era unlocking new possibilities. First DeFi with
@Bitflow_Finance
Gnarly News! 🌊 Bitflow has raised $1.3M in pre-seed funding to continue building critical infrastructure for Bitcoin DeFi. 🚀 Led by
@PortalVentures
, alongside visionary investors including
@BTCFrontierFund
,
@btcstartuplab
,
@BigBrainVC
,
@Newmancapitalvc
,
@GenblockCapital
,…
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Never had enough drive to pull the trigger on
@doodles
but did it on
@Tribe3Official
now! WGMI
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Was reviewing my dashboard on some recent investment call data. For me, it's important that founders engage the audience (investors) in a conversation instead of just information download aka deck pitch. A good ratio for me would be 70-30 or even 60-40
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My Uber driver is on self driving mode all the way…should I be at least paying a portion of that rev to the software?
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Learnings with accountability is something I like
gm, my name is Leon Lee, i'm here to build some cool shit in
@solana
& this is my life story
#doxxed
I love
@AzukiOfficial
& respect
@ZAGABOND
for coming out with his past experience, i cant comment on his motives but proper doxxing should be normalized in the space 🧵 LFG
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See you in hk Oct 22-24!
ETH Hong Kong 2023
Connecting & Empowering Web3 Builders.
October 22-24, 2023 | Cyberport, HK
Hosted by:
@Newmancapitalvc
&
@Scroll_ZKP
Website:
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As an early stage investor, the most important investment consideration is the team. I don’t believe there is a golden standard for successful founder. I have met founders who I don’t agree with but still created amazing work. The key is to find your ideal type to work with.
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Mistake 1: Applying web2 publishing model into web3
When it comes to publishing and user acquisition, most web2 studios are default to Facebook and Google Ads. The high CPI and alternative monetization model in web3 games make the unit economics unfeasible. Default dead
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Runes ready
Thrilled to share that SatScreener has successfully closed our pre-seed round, raising $500k with
@sora_ventures
as our lead investor, joined by our fantastic partners and angels.
We are proud to be at the forefront of infrastructure for Rune analytics, empowering traders with…
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Non-custodial crypto debit card is exactly what I need, looking forward to this
P.S. 100% Cashback on Spotify?! LFG (btw quick thanks for my friend who has been letting me vampire his account for years...it's time to re-sub my Spotify when
@basedappHQ
is out)
Meet BasedApp - a novel platform designed to empower users to spend, send, and invest in crypto on the go.
Key features? 👇
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