Thanks for the shout-out, Russell. Just looking from your free list, your growth has been very impressive, growing from 0 to 5,000 in just six months.
I still haven't reached the 5,000 level in a full-year of churning out quite a bit of content. While the quality of free subs can vary, in my experience the paid conversion rates tend to end up in a surprisingly narrow range of around 4-8% longer-term. Fwiw, I have around 260 paid (excluding free trials and comps) against 4,170 free, giving a conversion rate of 6.2%.
Edwin Dorsey can tell you tricks on how to get a higher conversion to paid. https://youtu.be/GmCffJgypv0. I'm happy to share any information as well.
Being on the leaderboard is important as more and more users switch to the app. The leaderboard is prominently featured on the discovery tab in the app.
Russell’s comments, while well intentioned, showed he never played, farmed or had any hands-on experience with blockchain gaming & AXS:
1) “Axie is a good/fun game” - No. It’s primitive, no gamer from the current $180Bn a yr gaming world will play it for long or have to pay to play.
2) No mention (ie no knowledge) that Philippine players are nearly all scholars (don’t know how scholarship works or it’s potential.)
3) Made it sound like players are playing to speculate on Axie NFTs like a Bored Ape profile pic. Fact: scholars 🧑🏫 play to earn SLPs most managers breed Axies to lend out for farming SLPs.
4) Failed to mentioned Axie’s greatest achievement is not it’s own success or failure but that it proved a concept - the appeal of owning your in-game assets & ability to earn $ inside a game.
Today there are 3.7bn gamers world wide spending $180bn per yr in old world games (it’s the world’s biggest entertainment industry, more than Movies & Nth American Sports combined).
Current pain point? Players spent all the time & money 💵, after months or years of grinding they only get a bit of fun, while the studios kept all the $$$.
Once players sees n experiences the magic of a game that’s comparable in quality to the hottest games now, but because it’s built on-chain, allows them to own their assets( weapons, potions, land,spaceships) and sell/lease/auction them on a mkt for real $ as they pleased, which game do u think they will play? Where do u think they will spend their gaming budget? (On-chain or off-chain? Old world or New World?)
That $180bn a year market will move from the centralized wall-gardened pockets of studios to the treasuries of on-chain game DAOs own by a community of token holders. (Players can now also be “equity owners”, with their incentives aligned, they will be the most avid evangelist for the game from launch, making it more popular & profitable for years to come.)
That’s the industry shattering opportunity.
2% of the world’s population knows blockchain well, within this 2%, about 5% knows this wave 🌊 of $$$ is coming via gaming. Russell is an established investor/researcher but not a gamer. I don’t blame him.
But now u all know. It starts in 2022 with the release of Illuvium.
Hi Russell, I'm a long time fan of your work. Don't waste your time trying to analyze crypto. Your intellectual heft is wasted entering that topic. Your subscribers want that heft applied to all things world capital markets; macro, etc. Not a criticism, I just hope to hear your analysis on real topics and not wasted on crypto. Thanks for your original thinking in a herd thinking world.
My humble take would be that P2E is a fledging industry/model so its hard to find direct comparables with scale. The recent Ronin chain hack at $600m won't help with any rapid adoption in the near term.
Regarding the Philippines, I would accept the premise that P2E would be attractive for countries with lower wages / weaker career opportunities, but understand your skepticism.
On the topic of substack ranking, I've spoken to publishers who have compared stats with other publishers and their findings don't tie up with their respective positions on any leaderboards. Whether there are just delays to updates or other unknown inputs to the algorithm, it's hard to say.
Within a finite system, growth must eventually become insubstantial and frequently idiotic.
Thanks for the shout-out, Russell. Just looking from your free list, your growth has been very impressive, growing from 0 to 5,000 in just six months.
I still haven't reached the 5,000 level in a full-year of churning out quite a bit of content. While the quality of free subs can vary, in my experience the paid conversion rates tend to end up in a surprisingly narrow range of around 4-8% longer-term. Fwiw, I have around 260 paid (excluding free trials and comps) against 4,170 free, giving a conversion rate of 6.2%.
Edwin Dorsey can tell you tricks on how to get a higher conversion to paid. https://youtu.be/GmCffJgypv0. I'm happy to share any information as well.
Being on the leaderboard is important as more and more users switch to the app. The leaderboard is prominently featured on the discovery tab in the app.
Hi Russell, you mentioned Nomuro re crypto reports , can you send a link please .
Love your work.
Rob R
Russell’s comments, while well intentioned, showed he never played, farmed or had any hands-on experience with blockchain gaming & AXS:
1) “Axie is a good/fun game” - No. It’s primitive, no gamer from the current $180Bn a yr gaming world will play it for long or have to pay to play.
2) No mention (ie no knowledge) that Philippine players are nearly all scholars (don’t know how scholarship works or it’s potential.)
3) Made it sound like players are playing to speculate on Axie NFTs like a Bored Ape profile pic. Fact: scholars 🧑🏫 play to earn SLPs most managers breed Axies to lend out for farming SLPs.
4) Failed to mentioned Axie’s greatest achievement is not it’s own success or failure but that it proved a concept - the appeal of owning your in-game assets & ability to earn $ inside a game.
Today there are 3.7bn gamers world wide spending $180bn per yr in old world games (it’s the world’s biggest entertainment industry, more than Movies & Nth American Sports combined).
Current pain point? Players spent all the time & money 💵, after months or years of grinding they only get a bit of fun, while the studios kept all the $$$.
Once players sees n experiences the magic of a game that’s comparable in quality to the hottest games now, but because it’s built on-chain, allows them to own their assets( weapons, potions, land,spaceships) and sell/lease/auction them on a mkt for real $ as they pleased, which game do u think they will play? Where do u think they will spend their gaming budget? (On-chain or off-chain? Old world or New World?)
That $180bn a year market will move from the centralized wall-gardened pockets of studios to the treasuries of on-chain game DAOs own by a community of token holders. (Players can now also be “equity owners”, with their incentives aligned, they will be the most avid evangelist for the game from launch, making it more popular & profitable for years to come.)
That’s the industry shattering opportunity.
2% of the world’s population knows blockchain well, within this 2%, about 5% knows this wave 🌊 of $$$ is coming via gaming. Russell is an established investor/researcher but not a gamer. I don’t blame him.
But now u all know. It starts in 2022 with the release of Illuvium.
Hi Russell, I'm a long time fan of your work. Don't waste your time trying to analyze crypto. Your intellectual heft is wasted entering that topic. Your subscribers want that heft applied to all things world capital markets; macro, etc. Not a criticism, I just hope to hear your analysis on real topics and not wasted on crypto. Thanks for your original thinking in a herd thinking world.
My humble take would be that P2E is a fledging industry/model so its hard to find direct comparables with scale. The recent Ronin chain hack at $600m won't help with any rapid adoption in the near term.
Regarding the Philippines, I would accept the premise that P2E would be attractive for countries with lower wages / weaker career opportunities, but understand your skepticism.
On the topic of substack ranking, I've spoken to publishers who have compared stats with other publishers and their findings don't tie up with their respective positions on any leaderboards. Whether there are just delays to updates or other unknown inputs to the algorithm, it's hard to say.
Volume, volume, volume! ...then monetize, somehow