Animoca Brands CEO Robby Yung says investors have been more discerning when allocating capital to Web3 gaming projects during crypto winter.Investing in Web3 gaming has required a greater level of due diligence through a testing cryptocurrency bear market, according to Animoca Brands CEO Robby Yung.
“Now that we’re in a sort of crypto winter and an economic downturn, from the investor perspective, we can afford to be quite choosy because obviously, capital is scarce.” Tim Stingelin, Leo Khan, Robby Yung and Saro McKenna delve into the state of Web3 gaming at European Blockchain Convention 2023 in Barcelona.
“You have to have an alpha build. Ideally, you have some kind of user testing out there when you first go out and look for external capital. It’s very difficult to raise just on the basis of the business plan in this market.” headtopics.com
“We’ve historically been unwelcome in most traditional gaming distribution platforms, whether that’s mobile app stores, Steam or console platforms.”