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⚓️ immutable launches NFT gaming fund
gm. I’m jumping on a Twitter Spaces today with @itsmechase (we’ll be recapping the NFT news of the week).
I would normally say to get out there and touch grass on this lovely Friday, but attendance to this is now mandatory.
you can get back to your family after the fact.
there’s much talk of “building” during the bear market. so much so, that saying you’re “building” has suddenly become ironic. “we’re just building debt now, amirite?”
but what does “building” mean in Web3 actually mean? obviously, one might “build” a project…but who would do that in this economy?
I’ve been thinking about it a lot and have come to the conclusion there is no one answer (a cop out for sure). instead, I think building is simply offering whatever skills or services you have to the NFT community. this might be web development, art, market insights, a Twitter Spaces (if you are particularly chatty), or just general shitposting.
all of those help “build” without requiring huge amounts capital or your time. and considering we’re in a bear market, now is a better time to ever to start building.
and considering that decentralization is the most important aspect of Web3…why not use the IP you’ve been given to make something?
use the NFTs you already have to brand a beer, a website, a sock company, or a newsletter (like I did). at worst, you’ll have the support of the NFT community and at best, you can use it to catapult yourself to a position you’ve always wanted to be in.
what do you have to lose at this point anyway? ETH is only $1000 if you hadn’t heard.
I was bullish on NFT gaming heading into the year. it seemed like a fantastic use case for all our NFTs and an avenue that could really tap into an already huge userbase (that would help onboard “the youths” to NFTs).
however, so far, I’ve been proven wrong (in spectacular fashion, I might add).
Axie Infinity and Zed Run are limping along. the Cool Cats “game” was a disappointment. basically, we’re still stuck with Wolf Game and even that has had delays to their next update.
I didn’t anticipate the resources and time necessary to create a video game…let alone one that was built upon a blockchain.
not only that, but the gaming culture seems resistant to letting crypto bros in. some are into gaming for gaming’s sake…not because they want to make money necessarily.
this idea resonates with me, and it’s why I’ve avoided STEPN…despite the fact that already run a fair amount on my own. I don’t do it for the coin; I do it for the enjoying (barz).
Immutable launching their fund shows the promise, but also the huge capital that will need to be dumped into NFT gaming in order for anything to take off.
it’s made me walk back a lot of what I was predicting this year…but I suppose I still have 6 months left before I’m inevitably wrong.
NFT NYC kicks off next week and while I’m not attending, I will try to give readers some events to attend and things to look out for! if anyone wants to be my ground correspondent from there, please do let me know! (also, can you grab me some of that free merch?)