<aside> 💡 🔈 Speakers

</aside>

<aside> 💡 Host:

• Maria Gillies, Product Manager @ Hutch </aside>

<aside> 💡 Guests:

• Anil Das-Gupta, CPO @ First Light Games
• Aaron Bush, Co-Founder @ Naavik
• Chong Ahn, Head of Americas @ Mythical Games </aside>

🐦 Axie Infinity’s Ronin Sidechain Hack

• Context
  • Ronin: Ethereum sidechain for leading P2E game Axie Infinity, developed by Sky Mavis
  • Last week, US$622M of ETH was stolen by a hacker
  • Largest hack in the history of crypto - likely a watershed moment
    • That said, other past hacks may have had more significance as they posed an existential threat to cryptocurrency, eg Mt. Gox in 2014
    • Brought Ronin’s value down by 20%
    • Currently thought to be an internal breach
• Implications
  • More bad actors becoming interested in hacking crypto companies
  • Ronin may become seen as unreliable
  • The stolen money is likely irretrievable as crypto is difficult to track
  • Crypto companies will likely double down on security measures e.g. more thorough background checks, stronger validator networks.
• Moving forward
  • Sky Mavis has been very transparent about the issue which has contributed to continued loyalty and support from their users
  • They’re expected to recover and are handling the situation admirably
• The incident has raised questions about the security of crypto. Crypto companies should remain vigilant.
  • Reminds us that blockchain does not guarantee security
  • A company should only have as many nodes as they need to minimise vulnerability to breaches. Sky Mavis has 9 nodes.
  • Companies should also keep in mind how many clients they have (single vs multiple)

🎮 New PlayStation Plus Subscriptions

• Context
  • Sony unveiled a new 3-tier PlayStation Plus subscription service
  • Replaces the current ‘Playstation Now’ with ‘Essential’, ‘Extra’, and ‘Premium’ tiers
    • Extra allows access to PS4 and PS5 games
    • Premium gives access to original Playstation, PS2, PS3, and PlayStation Portable games
  • Not a transformative move. The increased differentiation does help target and retain a wider range of PlayStation fans.
• Widely seen as Sony’s answer to Microsoft’s Xbox Game Pass, with key differences being:
  • No plans for exclusive same-day launches to drive uptake
  • Still console-centric, vs Xbox which provides support across console, PC, phones and tablets
  • More fundamentally, part of a shift towards subscription-based revenue
• Longer-term implications
  • Sony still boasts a dominant market share in console gaming. However, focusing only on console risks becoming more and more niche over time, e.g. Nintendo.
  • In the longer run, consoles could lose relevance in general amongst younger mobile-first gamers.
  • Against the backdrop of industry consolidation, Microsoft (acquiring Activision Blizzard) and Sony (acquiring Bungie) may build up more exclusive games in their respective silos → could raise antitrust concerns

🎱 Miniclip Exceeds 4B Downloads

• Context
  • Launched in 2001, Miniclip has created many popular and enduring browser games such as 8 Ball Pool and Tanki.
  • This week, it exceeded 4 billion downloads across its mobile games portfolio, with 8 Ball Pool accounting for ~1 billion downloads.
  • Accessible to millennials who had access to PCs before consoles
  • Played a leading role inspiring this generation of hyper casual mobile games
• Factors leading to success
  • Agile - regularly revamping games, adapting quickly to new platforms
  • Games focus on essential mechanics rather than than aesthetics or complexity, creating safe, simple, and timeless games easily enjoyed by all
  • With such a wide variety of games, they can reach nearly all audiences
  • Robust tech stack, including multi-player support with Agar.io
• Miniclip could create more robust, complex products as they have a very strong foundation
  • Could build on recent acquisitions