Dubbz

Introduction

We believe Blockchain has massive potential to create new opportunities for growth in the gaming industry, but that potential has yet to materialize. Fully native Web3 games have largely been unsuccessful, with projects that gained the most traction in the last bull cycle (Axie Infinity, Stepn) becoming case studies for how unsustainable 'Play to Earn' (P2E) can be. This issue has been exacerbated since Web3 games are generally viewed as less fun than games on traditional platforms. The association with blockchains also creates friction for gamers not interested in extra steps like setting up wallets and buying in-game tokens.

According to CoinGecko, over 70% of major gaming companies have engaged in blockchain initiatives in some form, either through direct investments or hiring and in-house initiatives. Blockchains have been touted as having the potential to revolutionize in-game economies by empowering players through verifiable digital ownership, decentralized player-driven economies, and transparent transactions. This shift will supposedly create new monetization opportunities for incumbents and newcomers alike. Established players have hesitated to fully embrace the technology due to concerns about scalability, market receptivity, regulatory ambiguities, and prio...