Illuminati Round Table Call Notes: Is Web3 Gaming the Future?
Alpha + Growth Hacks For Crypto Gaming Researchers with @apixtwts
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Apix first got into crypto in October 2021 during the bull market and decided to purchase an NFT during the euphoria phase.
The feeling of being early was intriguing.
Apix started writing content to make an imprint in the space, which helped him build a following.
Being a gamer, Apix decided to make content on web3 gaming.
How was it being a builder in crypto gaming
Apix says that his first touch-points were derivatives and weight party NFTs that didn’t do too well.
He says games used to be fueled by hype mainly and otherwise resulted in rugs.
He says specific projects have adapted from standard metaverse p2e game hype and have now evolved into niches such as mobile r2gs.
Projects have matured and understood that not every consumer wants a p2e game.
What are you building?
Apix is focused on content creation, showcasing games to his audience, and giving feedback on certain web3 games.
He says he’s mainly focused on the educational side of web3 and building his following.
He emphasizes that as well as educating his audience, he teaches himself and shares with his audience.
He consumes long articles and blog posts and then shares them while adding his opinion.
Apix explains the importance of Twitter in the crypto and web3 space. He says growing is more accessible on Twitter because the community is open and engaging.
He also utilizes LinkedIn and says it is an underrated platform for diversifying and connecting with more people.
Apix wants to focus on spaces and building a Web3-based newsletter but doesn’t want to be a typical news page.
Kadeem personally emphasizes the importance of getting audiences' emails.
How would you describe your content?
Apix says he started with reports on projects like AI Arena and Beacon and compiled information and opinions he has.
Now he says he is trying to add other confluences to educate his audience, such as “Rise and fall on Axie Infinity.”
What do you look at when analyzing a project?
Apix says most information is on Twitter, Discord, and blogs online.
For new projects that may have raised seed rounds, news sites may have made posts about it.
He says Crunchbase is a site that lists information on funding and partnerships.
Apix also says DM’ing team members for information on projects can also help.
Apix says when he writes about a project, it is usually from marketing.
He says starting from funding information is essential.
Additionally, he says to look for prominent figures and analyze Twitter following for projects.
He also mentions how project Discord chats can help gauge community sentiment.
Twitter lists optimized around Web3 accounts can also help.
What’s the current state of crypto gaming?
Apix says the leading narrative is ‘free mints,’ which has proved to be a marketing technique that can target and bring in a user acquisition tool.
This builds a following and can also bring in possible players.
He says that the games are still far off the quality and standard of Web2 games.
He believes a timeline of next year or the year after is likely when a game of high standard will achieve mass adoption and traction.
Apix says free mints are quite a gamble because there is no entry to get into the ecosystem, and it’s possible to profit from a game you like.
He says it’s a risk-free marketing tool, but that we’re reaching a point of oversaturation. He says many gamers and NFT investors are unaware of why this is being done.
Apix insists that the free mints are simply a way for projects to ‘prop’ up the numbers and KPI because, let’s say, they do one round of funding to satisfy investors; they need high user numbers and followers, hence why free mints are proposed by projects.
Problem with game economies?
Apix believes the main problem with game economies was that every project wanted a token and tried to integrate the token into the game with an earning aspect, Axie being the best example.
He says that the price got so overvalued that people stopped enjoying the game, and the quality was bad, causing the economy to crumble.
Apix believes you can design an excellent game economy without having a token. He used CSGO as an example.
Apix explains that the ability to get cases and trade on the marketplace is how Web3 games should mirror, maybe making these marketplace items NFTs, for example.
Apix believes on-chain games are likely to be a small niche, and that genuine Web3 games will have an on-chain optional choice.
He says he believes the UI will be cleaner and ignore things like gas fees and the friction that comes with using the blockchain.
Future of Web3 gaming?
Apix is excited to see fully fleshed Web3 games be released and play them.
He says one cool thing is how institutions invest in Web3 and what type of projects they invest in.