Podcast Summary
The podcast features Robbie Ferguson, co-founder of Immutable, discussing the evolution of web3 gaming and the increasing involvement of established gaming companies. The conversation covers the growth of gaming-focused blockchain networks, the market share of Immutable in web3 gaming, and the strategic partnership with Polygon. The podcast also delves into the inefficiency of web3 companies trying to build the entire stack, the importance of user experience and liquidity for gamers, and the future of web3 gaming.
Key Takeaways
Evolution of Web3 Gaming
- Shift in Landscape: The podcast highlights a shift from DeFi-native teams to experienced game developers focusing on long-term projects. The number of gaming-focused blockchain networks has grown from 37 last year to 53 this year, indicating significant development in the sector.
- Professionalization of the Industry: More games are being built by developers who have previously shipped successful games, and there is increasing support from various countries in Asia for web3 gaming.
- Market Share of Immutable: Immutable’s market share in web3 gaming has jumped from 10% to 70%, indicating a strong position in the market. The partnership with Polygon aims to create a one-stop shop for web3 gaming.
Web3 Industry and Gaming Sector
- Modular Approach: The podcast advocates for a more modular approach where companies specialize in horizontal layers, leading to better efficiency and specialization. Immutable is described as a “One-Stop shop” for web3 gaming.
- Revenue and Success: Immutable’s revenue is closely tied to the success of the games on its platform, aligning its interests with game developers, unlike other blockchains that may focus on staking value or economic bandwidth.
- Upcoming Developments: The discussion touches on the upcoming use of IMX as the core gas currency for Immutable’s zkVM, the implementation of EIP 1559, and the burning mechanism, which are all designed to align with the company’s goal of creating value through protocol volume.
Future of Web3 Gaming
- Mainstream Adoption: The podcast discusses how web3 gaming will become mainstream when millions of players can engage with web3 games without realizing the underlying technology. The key to mass adoption is hiding the complexity of web3.
- Technical Requirements: The conversation shifts to the technical requirements for mainstream web3 games, highlighting the need for performant, fast, and cheap blockchain solutions. Most crypto games are still built on Ethereum or EVM-compatible chains due to Ethereum’s security and liquidity benefits.
- Focus on Gaming: Immutable’s focus on gaming is underscored, with the company’s history of building and publishing games like Gods Unchained, which required innovative solutions like batch minting for NFTs.
Sentiment Analysis
- Bullish: The podcast expresses a bullish sentiment towards the future of web3 gaming, with the guest expressing optimism about the partnership and consolidation in the industry. The growth of gaming-focused blockchain networks and the market share of Immutable in web3 gaming also contribute to this bullish sentiment.
- Neutral: While the podcast is generally bullish, it also maintains a neutral stance by discussing the challenges and potential pitfalls in the industry. The guest predicts that the majority of Web3 games will fail, but notes that successful games will significantly increase the Web3 user base.
