FD@Gam3Girl_GP
Thoughts after @YGGPlaySummit, and why you should come next year:
For VCs, much of our job involves abstraction - drawing conclusions from data, tracing patterns from phenomena, deriving laws from facts - all in the hope to discover some truths that was unknown.
This is why most have the sentiments that “Web3 gaming is dead”. Tokens are not performing, hypes are overshadowed by memes and AIs, and there seems to be very limited pattern to suggest that Web3 gaming is still up for a positive future.
But, perhaps, it is often forgotten that there is something equally important here: its the people. It is the people and their passions that ultimately sustain and grow an industry.
Come visit @YGGPlaySummit, and you would immediately know why Web3 gaming is not dead.
The energy is electric, unrelenting, unapologetic. The laughter and fervor of the players fill the room with such exuberance that moves your heart. It’s a full-throated declaration: Web3 gaming isn’t just alive—it’s thriving.
The age group of players at the Summit is very young, possibly only around 16 years old or so, with a balanced gender-ratio. For these young hearts and minds, there is no pedantic debate about “play to earn” versus “play to enjoy”. It is intuitive, and all in one thing: play and earn, play and own, and play and enjoy. For Gen-Z and Gen-Alphas growing up playing with the type of games empowering them to do all of this in one, there is no way to go back.
It is incredible to see how the YGG team @YieldGuild @YGGPlaySummit @YGGPilipinas meticulously weaves everything together. The event has so many mischievous designs—details that can only come from people who love their work. (Just look at how they’ve turned their favorite founders into reality-show stunts!) This is not your typical cold, anonymous “give me your money so that I can rug you” or “Web3 is a money-lit mirage” kind of culture.
You’ll also witness fan mania akin to honoring a wartime hero. During the @Ronin_Network meet-up event, when @Jihoz_Axie shouted, “The Philippines is the beating heart of Web3 gaming,” the crowd hailed him with a mix of tears and laughter. This is hard-earned trust, forged from battling during 2022's darkest times, and reinforced by consistent delivery on promises made. Players remember this.
Big congrats to @gabusch, @wandermench and the @YGGPlaySummit team for making everything possible here!!! It is the persistence, and hard work of the last few years that have borne the fruits of today. I was also very happy to make more local friends in Philippine @eden_holdings, who are a critical ecosystem builder for the community here.
I would be back next year, and you should come too, if you want to understand the true pulse of Web3 gaming.
For those of you still need some numbers:
- The Philippines is home to 50 million active gamers and stands as one of the fastest-growing gaming markets globally, with a 20% annual growth rate and a projected $6 billion in revenue for 2024.
- It boasts one of the highest concentrations of Web3 gamers, contributing 20%-30% of players to top Web3 titles. For three years running, Coingecko has ranked it the No. 1 country for Web3 gaming.
- Web3 gaming isn’t slowing down. In Q3 2024, it accounted for 26% of all Dapp activity, with 4.4 million daily active wallets, making it the sector’s growth leader.
- @Ronin_Network remains a powerhouse, with over 1 million daily wallets — and it’s about to go permissionless!
And don’t forget: BTC hit ATH again — and again — while YGG Summit was happening. Who says it was not for Web3 Gaming?
