👾 Play-to-Earn Revolution Leaps Beyond Axie Infinity with New Games and Tokens
DappRadar exclusive report
Hello Defiers! Here’s what we are covering today,
Most Read in The Defiant
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In this exclusive report, DappRadar takes an invaluable tour of state of play in blockchain gaming and explores what’s coming next on tokenomics and in-game monetization.
TLDR Generating income while playing a game sounds like a utopia for most of us. However, thanks to the play-to-earn movement, that scenario is not far from reality.
UAW Since May 2021, blockchain-based games have enjoyed a significant amount of success. The number of accounts or wallets connected to blockchain games reached 754,000. When compared to Q2, the game-connected unique active wallets (UAW) increased in 25%, and an impressive 509% year-over-year. Even though the number of UAW is an on-chain metric that does not necessarily translate into users1, there is enough evidence that supports a growth in the demand.
METAVERSE It finally seems that people have started to realize the potential behind the combination of games with blockchain technologies. Especially with intriguing concepts like the metaverse gaining visibility across mainstream media. But what exactly is play-to-earn? What were the main drivers behind the surge of this latest trend in the game sector? And, where is the blockchain game industry heading?
DISRUPTIVE Blockchain is one of the most disruptive technologies created in the last decades. It enables individuals to transact securely among peers without recurring to a third party, while also proving the ownership of the underlying asset. This technology has the potential to transform any industry if the use case is applied correctly. And it is no different with games.
The Defiant Interview
One of the biggest challenges confronting the DeFi community is founding and managing new ventures. It’s uncharted territory, so for guidance we turned to Diane Dai, the cofounder of DODO, an automated market maker. She shares some sage advice on how to lead in DeFi.
The Defiant: Can you introduce yourself and explain your role?
Diane Dai: My name is Diane Dai. I’m the co-founder and Chief Marketing Officer at DODO, where I oversee marketing, branding, and growth. I also handle investor relations.
TD: Talk about your journey into leadership — what would you say was the biggest obstacle or most challenging skill to develop?
DD: While still a university student, I was fortunate enough to have acquired internship experience as a columnist at 36kr, an enterprise tech news site, where I learned about the power of proper storytelling. I also was a marketing intern at ZhenFund, a Beijing-based venture capital firm.
My ZhenFund experience was crucial, as it exposed me to the emerging world of crypto, both within mainland China and in the West. The collaborative and supportive culture at ZhenFund, which strongly encouraged young people to innovate and build, was a major inspiration for me. Following that, I moved to DDEX as a marketing associate and quickly rose through the ranks to become the Head of PR and Marketing.
The most challenging leadership skill to develop was an intuitive and nuanced understanding of cultural differences in media and crypto between Asia and elsewhere. In a global industry like crypto, deep cultural understanding is key to leading with empathy.
WORK TO BE DONE The DeFi market has captured the imagination of investors after multiplying in value 18 times in the last 12 months, reaching $244B in total value locked (TVL) on Nov. 1, according to DeFi Llama. Traditional investors are now seeing the immense opportunity that DeFi has to offer as well as the returns. But there is a lot of work to be done. The DeFi projects have to match the sophistication of traditional financial services in risk diversification and eradicate the red tape and bias toward the wealthy that has long plagued traditional finance (TradFi).
CORE DIFFERENCES First off, DeFi is not just TradFi 2.0. There are core differences, which is one reason I stepped away from my TradFi job as the Head of FX & EM sales to set up Tranchess, a decentralized yield-enhancing protocol with varied risk-returns solutions. One key reason is that DeFi is truly liberating.
LUCRATIVE However, TradFi is not a system that welcomes or promotes innovation, at least not at the speed necessary for investors now. With its open and permissionless characteristics, DeFi is free of bias. Anyone who can get their brain around DeFi can jump in for lucrative returns. There is no emphasis on prioritizing the wealthy, and the barriers to entry are relatively low.
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One interesting trend of the last year has been the growth of interest in local government, and in the idea of local governments that have wider variance and do more experimentation.
The Defi bull market, started by COMP liquidity mining in Summer 2020, has turned many Defi protocols into rapidly growing revenue monsters.
Times Square NYC, November 1-4, 2021
An address with the foresight to purchase $3,400 worth of Shiba Inu (SHIB) last August has seen the value of the coins grow to a whopping $1.55 billion on Thursday.
Softbank and Google's parent company Alphabet Inc. have taken part in a $700 million investment round in Grayscale owner Digital Currency Group, valuing the company at $10 billion, per the Wall Street Journal.
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XRP Holders to Get Huge Airdrop of New Blockchain Songbird Not only is DOGE a very good boy, its coin is about to be very smart, too — as in, smart contract-ready.
Anubis DAO Descends Into the Underworld After $60M Exploit Anubis DAO, a recently launched fork of Olympus DAO, is engulfed in chaos after 13.6K ETH ($60M) was drained from the protocol today.
OlympusDAO’s Success Inspires Dozens of Forks They say imitation is the highest form of flattery. In crypto, this manifests as forks, or copies of a project’s codebase. In that sense, OlympusDAO must be feeling pretty flattered.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad and yyctrader, and edited by Edward Robinson, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).