Episode Transcript
[00:00:09] Speaker A: We always be investing in intersection of emerging technology and the gaming and the consumer technology sectors. So we started from like a VR, AR blockchain AI so all like buzzy names, buzzy like technologies. And we ended up investing like Skylabs, Axiom, Animota Brands and Sony Gaming company got a company called Artifact. It's like an NFT company acquired by Nike a couple years ago.
[00:00:37] Speaker B: And we built an all in one web three gaming ecosystem. So that means we provide everything a game studio would need to seamlessly get on chain access, liquidity and also access real gamers to publish and distribute their game.
[00:00:53] Speaker C: However, in the longer run there has to be some sort of like a differentiator that we try to implement there as Sony. What we try to do is sort of trying to explore our own methods and also distribution channels that we can provide to those gaming studios that they have never done traditionally in the Web3 space.
[00:01:16] Speaker D: We initiated this project two years ago that week and our vision is to realize our Internet sets boundaries and our value is emotional, creative and we are pretty much focusing on entertainment. So to make the long story short, Sony is going to be the entertainment layer for the next Internet.
[00:01:41] Speaker E: Thank you Thurso for giving a quick Overview on the L3. So we already have seen some of the features that's already been discussed on the presentation because the main Net supplement model is already on other chains too such as MLMEX or other ecosystems. We already have messenger integrated blockchains such as Telegram and Kong, but Web Ear and then we also have the player user data layer with this the I forgot I keep forgetting things after I turn 35. It's too young to be doing that.
[00:02:14] Speaker F: But I keep forgetting things.
[00:02:15] Speaker E: But there's a player data layer management now.
So what we're trying to do is to integrate all these features as a one streamlined model from the messenger app, from the player user profile and the player gameplay data management to the actual on chain video game experience. So that is the point of L3 idea we will be pitching as a Chelsea Pestman. And then for the next panel we'll love to introduce the four panels that will be joining here today. And then we'll discuss about the future of Web3 gaming and how we're going to able to integrate the traditionally famous IPs onto the blockchain spaces. Thank you TK Katsu and Jess for joining us today.
Today's panel is about exploring the intersection of gaming IPs and web3. So where traditional game developers and publishers where blockchain native creators and ecosystem Builders are all joining on the surname Chelsea lc.
So before we get into the dive into the discussion, I'd love to start by giving each of our panelists a moment to introduce themselves your main role and what you do on the Web three gaming spaces.
[00:03:28] Speaker A: Thank you.
[00:03:29] Speaker E: TK would like to start.
[00:03:31] Speaker F: Sure, let's start.
Hi, my name is Daehun Kim. I also go by TK so you can call me TK a little bit easier.
So I'm founder and CEO of Spectre Games.
I'll talk about Spectre Games a bit more later, but just to talk about my background real quick. I've been in the gaming industry for about 20 years so I started my career at Samsung doing mobile games, but I've mostly been a serial entrepreneur. So Games is my fifth company. All the companies that I've founded have been successfully exited.
The latest one that I did is a game company called Gamerate and we focus on real time multiplayer games on multiple platforms. We're mainly known for our Power Rangers game which got over a million downloads and it's been very popular amongst fighting gaming community with a new tank of the brands in 2020. I stayed on for about three years, that's how I got into about three.
So Yav, the founder was just a very kind of an advantage for three games and we went all in on web three during those three years and invested in our over 300 companies while I was there and we got firsthand exposure to a lot of successful projects and been trying to figure out a way to get mainstream adoption for the games and I'm very happy that I think I'll probably be able to do that.
Let's look at the games through the partnership here. So very happy to be here.
[00:05:06] Speaker C: Thank you so much for coming. I flew into New York last evening from Tokyo so I'm still a bit jet lagged, but this discussion should be entertaining enough for you to give me a link.
So this is Tatsu. I am the head of consumer and gaming business development at Sonium. I belong to a company called Startail which is also a product company building various Web3 tools and we're also the core contributor of Sonium Network itself. Sota who did the quick problem, little speech, he's a founder but then we went as he said, we went on mainnet five months ago.
Since then I think we have made good progress on our network. We have recorded in average around 1 to 1.5 million daily transactions, around more.
[00:06:02] Speaker E: Than 100 Dapps that have deployed and.
[00:06:05] Speaker C: Also 7 million more or more wallets that are registered on our network and we're very happy with where we are. But then we also know that we need to continue growing. As Soda said, we try to become the Entertainment layer of Web3. We believe this is what's fundamentally missing or can be done more using the web 3.0 space. And this is also what Sony kind of got excited with given that there are huge entertainment giants themselves. They operate myriads of businesses in movies, in music, in gaming, so on and so forth. They were very excited to explore what are some potentials for these businesses to potentially be applied to the web, freespace, IP included as well by the way. So that's where we are and for this reason entertainment, especially gaming, is also going to be one of the key focus areas for sodium and we're also continuously finding our own ways to try our to explore our unique path.
So I am very excited to have the discussion with all the speakers because I think those are really the relevant stakeholders to make it happen.
[00:07:23] Speaker A: So hi everyone, my name is Atype Tsutsui I'm the only guy who sticks a real photo in the back so I feel really old.
So I've been running a funko which is the serious state focused on gaming, entertainment and consumer technology companies and my my game wife is a I was an investor at Japanese gaming company called gre it's like mobile gaming company Japanese person thinka and I was like heading the investment team from 20202011 to 20132014 and I moved to the investing in US companies found this backed a Japanese TV company a former employer A former employer is invested in a fund and most of the companies like Square Enix, Pandemico and Sega are already investing in the fund as well. So we're kind of using those network to connect the company that we invested in with those strong IP holders in Japan, especially in Japan and we always be investing in intersection of emerging technology and the gaming and the consumer technology sectors. So we started right from like a VR, AR blockchain AI so all like buzzy names like technologies and we ended up investing like Sky, Mavis, Axiom, Animoca Brands and sort of gaming company got a company called Artifact it's like an NFT company archived by Nike couple years ago and we also continue to invest in those not a gaming but more like a consumer blockchain technology companies but we're not going to use the infrastructure layer small focus on application and some like middle layer as well like a blockus so just a distortion we'll do this learning in the Blockus.
[00:09:12] Speaker E: Thank you, Jess.
[00:09:14] Speaker B: Hi, everyone.
[00:09:14] Speaker A: I'm Jess.
[00:09:15] Speaker B: I'm the founder CEO here at Blockus. Before starting Blockus, I was a serial tech worker.
So I was at Airbnb. When I joined, it was worth 20 billion. When I left, it was worth 100 billion. Then I went to Roblox and I joined, it was worth 4 billion. When I left, it was worth 80 billion. So TK is a serial entrepreneur. I'm a serial valuation multiplier. So I started blockus at zero billion. I'm taking it to 10 billion.
[00:09:42] Speaker C: That's.
[00:09:42] Speaker E: That's a.
[00:09:42] Speaker C: That's the goal.
[00:09:43] Speaker F: That's the goal.
[00:09:43] Speaker B: Laying it down here this cycle.
[00:09:45] Speaker A: That's what we waiting for.
[00:09:48] Speaker B: Yeah. Jokes aside. Jokes aside. So I'm the founder CEO at Blockbust. Our vision is to build an interconnected open economy.
And we built the all in one Web three gaming ecosystem. So that means we provide everything a game studio would need to seamlessly get on chain, access, liquidity, and also access real gamers to publish and distribute their game using this wonderful technology known as the Blockchain. We've been around for two years, and we really started kicked it off with joining Accrypto's startup school accelerator, which was based in LA in 2023 was a great start to our company. We've been around for two years.
Our next big move is we're building Chelsea, the testnet, which is a gaming L3 on Sonam. Like Katsu said, this is Sony's blockchain. We are particularly excited about this because not only because Sony is the most credible name in the gaming space, but also we do feel like even from this panel, it reflects we want to bring the east to the west and merge those energies together. And from working with Eastern projects. Everybody is so very accomplished, yet so very humble. And you talk to them, you're like, yes, Our game grossed 300 million last year. They're like, wow. And you're just so kind and nice. But we, you know, we want to bring out the best of gaming in the east, you know, publish them in the west, and, you know, merge those energies together.
And very excited to kick it off here in New York in the Chelsea neighborhood, because this is our home base and this is where we hope to grow during this.
[00:11:24] Speaker F: Thank you, Jess.
[00:11:26] Speaker E: Due to the time issue, we're going to talk about two main topics, which is just like what Jess said, go to market strategy. And two is how we're going to evolve those ideas into the Web3 spaces. So, like I said, the concept of Web3 gaming has been. We had major breakthroughs and setbacks and now there's an ongoing debate where the actual user base is divided between web 2 or web 3. Or is this more of an overstatement?
[00:11:51] Speaker C: So I would like to start the question by what is your take on.
[00:11:53] Speaker E: The current user behaviors on the web 2 and 3 side and what's the best path forward for the game studios that are looking to service their blockchain.
[00:12:02] Speaker F: Integrated video games on the blockchain?
[00:12:04] Speaker E: We'll start with DK.
[00:12:06] Speaker F: Yeah, I think Dubai 202 and 3 players is still real today.
So hopefully we can get to a point where it's just gamers in web 3 behind the scenes and we don't have to divide the two. But right now as we speak today the Web3 gamers are still the toy farmers and people who are main in it for the rewards.
And so that's an issue because that combined with do have three games that we've had so far and blockchain space moves so quickly.
[00:12:43] Speaker E: Right.
[00:12:43] Speaker F: So the games are usually kind of low budget and also kind of has that much development times and also the game design focus and rewards because that's where the majority of players want and what that combination is not very good because ended up happening so far as you have gamers who are excited about these games and your database kind of rises as you get closer to pge. And after the airdrop there's a lot of sell pressure because they raise money through the private sale and also because anyone who does airdrop is also selling. So tokens always goes up and it was bound, continuously bound. And then once the value of the airdrop was gone then also results because guess what?
[00:13:32] Speaker E: You really didn't like the game in.
[00:13:34] Speaker F: The first place or playing in wars. Right? That's been like a pretty new pattern that we need to really break.
So the pack four is to really build games that could Compete with other Web2 games and games that could excite gamers. It doesn't have to be aaa, right? There are a lot of indie games that can excite gamers. Have the gamers love the game and the game is classic, you know, they're retained and keep the three systems frictionless. And don't mess with the gameplay or don't mess with the game design. No token giving things that make it overly painful and you gotta get rid of all those things. And then I really believe that you can keep the web3 seamless and mainly on the reward side and can still super target games by Adding the powerful reward layer, similar to how like the airlines do it with their mileage points and kind of go with point system, but still be able to have games that can maintain real gamers. So combining blending the two in that way I think is the way there is the path forward and that's what we're doing. The structure, games and ecosystems will play a big role there.
[00:14:51] Speaker C: I pretty much agree with TK's sort of like assessment of the current web3 gaming landscape. And I guess I was thinking more from Chain Powerful's perspective on what can be done on that. Right. Because I pretty much agree on the user behavior. I think as a chain operator what we are able to do is essentially align on the vision or the strategy of the gaming studio or the project itself. I think there's a necessity to take things step by step by first being able to sort of like conquer sort of the existing market that is right in front of you. Let's say we can define that as the Web3, the ongoing Web3 games. We can focus on how we can potentially acquire users from those user base first and foremost. And then we can, once that is done, once we get solid tractions and track records on this space, we can also start considering how we can reach out to the larger audience. We need to bear in mind that though we don't have to always develop AAA games, we'll be competing with thousands of more games at this point. Which means there's going to be a lot more high quality gaming studios that have access to more capital quite often may not be oracle. It may always not be the case, but sometimes.
So here's the thing, like with web3 there's sort of like ongoing textbook play in a way to sort of like enter different areas segments that may include some of those users. Players are looking for initial incentives. We can kick things off from there. I think in my opinion, however, in the longer run there has to be some sort of like a differentiator that we tried to implement there. At Sony, what we try to do is sort of trying to explore our own methods and also distribution channels that we can provide to those gaming studios that they have never done traditionally in the web3 space. For example us, a lot of our members are based in Japan. We have around 80 people in the team. Maybe 20 to 30 of them are based in Japan, including myself. We do active business developments with certain Japanese enterprises.
[00:17:16] Speaker E: For example.
[00:17:17] Speaker C: They could be amazing source of IT collaborations, IT holders and find ways for us to be able to bridge the enterprise side and also the Projects that are building in the Sony ecosystem. The second one is the fact that us being backed by Sony, there could be some interesting opportunities we can explore within the Sony ecosystem as well.
Again, there's a lot of department subsidiaries that we're talking about. So finding ways for them to collaborate for the Web three projects to collaborate with such businesses could unlock really new different distribution channels that we were never able to access as Rook3projects. So for Sony, the ultimate objective here would be to try to align with the strategy of the gaming projects based on the the latest user behavior and try to see how we can add value from there.
[00:18:17] Speaker A: Yeah, I think I totally agree with you about the two.
I guess from investors perspective.
So we invested in both the Web3 international gaming companies and also Web3 world giant gaming company. We've been talking directly a lot and go to market is like always tricky. So I guess it doesn't matter whether it's a blockchain game or not. So gaming is like a really tough business. You have to be like really I guess like unless you're not like a AAA titles game, you, you know have like long time like developing the game and if you launch the game it's just only a launch, you have to make some changes. But it's actually the gameplay per gameplay.
[00:19:02] Speaker C: Doesn'T change that much.
[00:19:03] Speaker A: So it's really difficult to develop and launch again which is kind of potentially be successful. So it doesn't really matter if it's blockchain or not. So it's a. Adding the blockchain layer is like adding a lot more layer complexity. So it's quite difficult especially for a user standpoint I guess. I totally agree with the head of the engineer.
So I think the user don't have to feel about blockchain but adding blockchain or using the blockchain technology kind of help the developers make the better or more efficient game as possible. And maybe that include like account, you know, the account management that he said or security or even like making that like an incentive to find more and come back to it again a little bit more just using like a blockchain token sale.
So I think it's very much the. Sorry, I don't have the answer. I'm not the founder but I'm not investor. But I still feel that blockchain is like a new technology. It's like AI, it's like VR and emerging, you know, platform too. So I think there's something to it, something on it. But we as a founder, please, please find a solution, please find A solution for every user and also have a.
[00:20:27] Speaker E: Gaming ecosystem as well.
[00:20:33] Speaker C: Thank you, Ancesh.
[00:20:35] Speaker B: Yeah. So like TK said, web 2 or web 3 gaming is a very long tail type of business. There's always been a farmers, even in Runescape, maybe 30, 40% of players are gold farmers, right? CSGO, you play, you get the assets and you trade. That's part of the game.
So for a game, really you maybe have 100 to 1,000 loyal fans who are really into your game and everybody else is kind of like a farmer that plays along to support the support. Movement dynamic is very common in games. It's not something that Web3 brought on. So what do we want to do as a network? The first thing we want to do is help studios laser focus on their only top 1000 whales dance.
[00:21:14] Speaker C: Right?
[00:21:15] Speaker B: So we want to take the publishing pressure to the farming masses as much as possible, as much as they're happy to trust us with it, because some HTOs also want to take it into their own hands. We want to respect them, but we want to provide that as a service. If they want us to rally up the Web three native farming crowd, we're happy to do that for them. The first thing we want to do is help game studios laser focus on their 1000 whales and true fans. The second thing we want to do is, which is much more Web3 native, is really to maintain the value creation and inflation and deflation within the game, right? And a lot of that comes with the token design and collaboration with the token. And we've given that a lot of thought because you don't want your token to plummet and all of the farmers leave and your whales are also disappointed, right?
So for that the first thing we come up with is a new token design that we have not shared in public that we think will help the game studio maintain value in between the downtimes. Really like post CGE or if your first title is a flop, give you the chance to launch a second title. The second thing we are doing is by introducing stable stablecoins. So USDC in the us, JPY in Japan and hkb. Although I do think a lot of volume in HKV is absorbed by USD. But you know, that's not my.
I don't decide that they'll decide what token they want to use, right? But we want to introduce stable coins to more so mimic the regular Web2 gaming experience where you're paying the token you already use every day to stabilize the value you get from the game. And then the third one is yeah, this token and coin redemption rule that we're working with with game studios to make sure from the player's perspective they kind of get the same value over time. And even if the token price is down, they're still getting.
There's some mechanism for delayed gratification. Just like in Defi, you can stake.
[00:23:17] Speaker F: Right.
[00:23:17] Speaker B: We want to create that sort of a loop. So even if the teaching is over or this title is not the best, you can still stay patient and wait for the next one.
[00:23:30] Speaker E: All right, thank you, Justin. So as Justin TK said, a lot of early on efforts from the Chelsea.
[00:23:36] Speaker C: And all three sight would be in.
[00:23:37] Speaker E: Maintaining and capturing current Web three audiences. But then again in the long term goal will be how we're going to actually get to the Web two gamers and how we're going to actually stabilize the token economies for the games that we'll have blockchain integration.
But thank you for sharing each of your thoughts. And we'll want to move on to our second and last topic.
We have to network a little more. Right. So second topic would be the bridging and evolving IPs into the other three spaces. So we've already seen major Web2 IPs such as Nexus Maplestory where I used to work in as a game designer.
And some of these Web2 IPs have been very successful. But then again, there are Web2 IPs I'm not going to name them, but they also have critical failures in terms of adoption. So but then again, in other cases there are web3 native IPs of such as off the grid that I mentioned. They have been doing pretty well on the app services. So we also see like what is the right path and movement here in terms of adopting this and moving these web two IPs into a world like instead of just simply porting them over to the side. So what do you see as the best approach to bridging and evolving the existing IoT's of Web2S3 spaces and then instead of just integrate with the blockchain and make it a. Let's call it a web 3 game?
[00:25:04] Speaker F: Yeah, there are a few things that are important.
So when you're working with the Web2IP then you're always working with existing community that's associated with that ip. So we tried in the past to add on chain features.
We're looking at 14th of time to those features are permanently scheme. And this part is community exists in a very hardcore.
[00:25:30] Speaker C: So you gotta think about that community.
[00:25:32] Speaker F: Like you're not web3 savvy, some of them are, but most of them don't know how to work in a mobile wallet or don't know how to connect wallets to games and things like that. So the first thing that's very important is the frictionless, kind of seamless integration of Web3 so that when you're giving assets rewards where there's tokens NFTs to these players, they're able to catch that seamlessly. So that's going to be very important and the ecosystem will need to provide for that. The second thing is you can't do anything that will Turn off these web 2 players, can't do anything where like you do heavy token dating where all of a sudden you have to have an NFT that's worth $2,000 to even play. So those things will turn people off any sort of items that are kind of only purchasable through tokens. Those things will also have to turn off place especially if those items are powerful items. Right. Then you'll think that oh, this is like even going further into having some.
[00:26:33] Speaker C: Sort of opinion when you're looking.
[00:26:34] Speaker F: But if it goes too far and they'll turn off your audiences, you have to be mindful of the existence same community that attaches the web2 to audience. However, I think any like everyone is playing, they're okay with earning some rewards, I think that's fine. So if you're able to kind of add Web three items that are stainless and that are mostly on the reward side that doesn't ruin the gameplay or complicate adoption or change anything to make the game too pretty win, then I think that should be okay. And look, communicate this properly and also make things easy. And also the rewards, again it cannot be something that would mess with the game economy. If we can keep those rewards as something that is on the status level.
[00:27:20] Speaker E: You know, gamers love to show off.
[00:27:22] Speaker F: Whether it's like PSP or skins or vanity or baddies, whatever. I think that should be fine with most of the community. So keeping mind of the community and doing something that you know that will be something much easier for them to adopt. It's going to be the key to getting that adoption of Web2.
[00:27:41] Speaker C: Thank you.
Yeah, I think we have to keep on trying Both ways from Web2IP sort of like you know, getting adopted and also trying from the Web three side as well from the gaming side obviously where we evolving following of the grid and I think we are all experiencing some, some ups and downs but then they're there definitely on the frontier and we have to continuously try. I think that's all we can say on the more of like the IP character side. You know, I think some, some ips like Pudgy for example, they're actually trying to be adopted, you know, trying to get, get their, their mascots out there. I think those like continuous initiatives have to keep going on. I don't think it's something that can be done, you know, sort of like we try it 10 times, it's going to succeed like you know, every single time. It's probably going to be very slim chance but then we have to keep on trying to understand what is the potential formula behind and find ways Web3IP can eventually penetrate more like a broader audience from the web 2 side to the web 3 side. Very much agree that tech matters to make it very seamless. I also think that if we were to utilize this IP to bring in broader set of audience, sort of just simply using it for the sake of using the IP itself, I think that is already there. There's probably going to be some sort of smart framing like marketing that has to be done to create a good narrative that convinces people why this IP is being used for the game and such. Whether that is sort of like you forever record your gameplay, your memories, you know, that is one way to, you know, cut into it. The second one is that the IP potentially if there are some variations, the IP is playing sort of like your identity role right into in this like virtual on chain space. That could maybe be another way to do the framing. And so probably sort of like the marketing aspect I would say, I would.
[00:29:46] Speaker A: Argue is also quite important.
[00:29:48] Speaker C: And then the last one is sort of yes, we have been trying bringing some IPs but it has been challenging to say the least to try to have the traditional like existing IPs to tap into the Web3 space or Web3 projects being able to utilize them. So that's something that we would love to facilitate from change side as well. We have some projects in our ecosystem that has done some amazing job with certain piece. For example, we have an entertainment project in the Sonian ecosystem called Iwake. Iwake means sun rising or dawn rising in Japanese. But then what they did was they were able to work with one of the biggest Japanese publishing agencies called Kodansha. And then what they did was they were able to get the license to bring the seven Deadly Sins IP on chain. I don't know if any of you have seen the anime.
[00:30:47] Speaker A: It's a pretty big one.
[00:30:49] Speaker C: I'm sure if you're a fan of anything you would know. You would know it. But then their team was essentially capable to do the whole negotiation and business terms together with the IP motor together with the publishing agency to bring them on chain. And this does require some legal time and expertise. By having such a project that is capable of doing such work we hope that there's going to be more opportunities for the Web3 space to tap into the already existing famous IP and we would love to be the route to facilitate something like this.
[00:31:29] Speaker A: Yeah, so I guess maybe a little bit different perspective because I have.
I often talk to those publishers like I get IP holders quite often both in the US and Asia. It kind of depends on the publisher you're talking to. Like interestingly like Western publishers like EA Scopely take two they're all quite careful about those licensing IPs like new technology with new suppliers and new providers. But on the other hand like Asian publishers are more really willing to try out and looks like maybe the next month. But you mentioned a double client's like really good like a great ip so that's. I think it's like a really good guy.
The next one is trying to help get the free community A lot of the Japanese company too. They are like also not starting from a strong ip more like a small, like more like a mid size smaller IP but they definitely wanted to try. So I think if you like to work with big IP holders you want to talk to maybe. I don't know depends on the publisher. You have to really talk to the white one. So that's one thing and the other one is that. But talking to those big publishers I feel like they should have a new IPs by themselves by the community or by the company or by gaming company too. So I never tried that off the grid but I just thought as much as possible a movie. I'm sorry to make a video it's pretty like you know really like a AAA title of your quality. It's like a really great game. That's a great, great game. And so things like that I think we should try as a, as a community of companies like the founders we should try to continuing the creating new IPs and make it more. You know if you have like own IP you have like more freedom around the IP or ownership of licensing as well. But if you like licensing from somebody else you have so much like a limitation restriction like what to use and what to use. So I think it's more. Bit more freedom is like much more better way to like solve this problem. So I think we should keep trying to get the creating new ips. We got, we done success but I think as a community we have done success in the past by creating a board aid, you know like do that's like nft but that never turned into a game. I know they tried but it's never turned into a game like this. But I think, you know, we have some like good success so far. So obviously let's just keep continuing the trial.
Thank you and Jess.
[00:34:10] Speaker C: Yeah.
[00:34:11] Speaker B: So for us from a network perspective, right, if we work with an existing Web2IP, our goal is first of all really not to cannibalize into the existing IPs trading volume that's off chain. That's not our goal really. Our goal is to help that IP gain more visibility and have a lot more transaction volume so it gains more attention. And it's top of mind for people who may have forgotten about that ip. Really it's a publishing thing, right? For something like Pokemon, of course it was always top of mind. But think about an older game like Street Fighter. Like you're like, oh, I haven't thought about that for 20 years. And it comes back on chain is now top of mind. So really what we want is transaction volume with that IP on chain. So it brings old consumers back to reconnect with that. And so I connect that with Defi wallet, right? So for a Defi network, if you have a billion PVL, you probably have 10 million wallets and you're expecting probably like 1% so 10 million USD daily transaction volume, right? So people are trading the assets, the tokens for gaming. I think it's going to be very different and we're probably going to see, let's say if you have a billion TVL, you're probably going to have 100 million wallets all holding, you know, sort of these gaming assets that are, they're different and then your, your daily volume is, is probably still 10 million but it's going to come from a wider variety of things instead of just a few big focus, right? So way more consumers but much more sort of way less transaction volume per trade because you're just trading these NFTs. You're not trading like 2000 of ETH at once. You're trading like a twenty, thirty dollar thing at a time. That's the ecosystem we want to build. We really want to build a consumer chain where Qualcomm and this is where they think about their gaming ips, they think about the trading, they're gaming assets and they are actively trading, right? So our goal, when we talk about existing Web2 IPs and what we want to do with them, like keep them live, keep it active and just kind of get that going. And I do think the best ramp into that is stablecoins because it's a very easy way for people to connect the dots, right? If you kind of bought a Pokemon card for 5 USD and you can buy it for 5 USDC, that's a very native experience. If you bought a Pokemon card for $5 and now it's selling for like 500 suite, you're like, what does Sui, what does SUI do? Do I have to manage SUI prices? Like, you know, did I just become a full time trader? You do that for two days and you're not sleeping, you're like, I'm not doing this anymore. I'm selling everything, including crypto, right?
So I think stablecoins are going to be a big piece of how we get people back excited about the base IP and how it interacts with games and experiences. You know, even as a collectible. Someone tweeted this like, my Pokemon cards are my best bag. And we want that, we want that. We want you to have that freestyle hero and keep it, be able to look on your phone every day for like five minutes and be like, oh, my freestyle IP is going up great. Like, I am an early fan and I have great taste and I'm proud of myself. But you know, you do that much more frequently than you would today. So that's really our goal to increase the volume of these IPs circulating the.
[00:37:28] Speaker C: Well, thank you, Jess.
[00:37:29] Speaker E: So those are the two topics that we wanted to cover today.
[00:37:32] Speaker C: How do game studios actually go to.
[00:37:34] Speaker E: Market as a strategy and how the new IPs on web 3 or existing IPs on web 2 can be created.
[00:37:42] Speaker A: And evolved over the course of time.
[00:37:44] Speaker C: And we have, we got the views.
[00:37:48] Speaker A: From the investor side, from the chain.
[00:37:51] Speaker E: Operator side and most importantly from the game developer side. So those are the topics that we eventually want to tackle and solve in.
[00:37:58] Speaker F: The next three years.
[00:37:59] Speaker E: And thank you for joining on our very announcement meeting and we'll keep you updated over the next course of periods on a regular basis. So how we're actually capturing the gaming studios and the gamers to actually join and have fun with the onchain integrated beta games. Thank you for joining today today and please give all that.
