Hi, it’s Marc. ✌️

I’m thrilled to share the latest episode of our podcast with Carlos G. Pereira, Partner at BITKRAFT Ventures. 

BITKRAFT is one of the leading VCs in gaming. It has raised $275M for a third fund for early-stage gaming and interactive media companies investments. Once closed, this fund will bring Bitkraft Ventures’ total assets under management to over $1B. Grounded in its vision of “synthetic reality”, BITKRAFT believes in the transformative power of digital experiences, shaping the future of entertainment.

Carlos’ key quotes:

“Gaming has always been important for some amount of younger generations for as long as games have been around. But having a platform, proliferation, and game types proliferation has allowed more people to find a game that they love. It's just a media type that people stick with.”

“Financialization has been around games for a very, very long time. As a matter of fact, every time that we connect a great game to the internet, um there's a parallel economy that emerges of varying sizes.”

Key takeaways:

* Synthetic reality: Represents the convergence of physical and digital lives, where digital experiences and relationships are increasingly valued, forming a continuum of life that holds significant meaning and depth.

* Market structure: BITKRAFT sees gaming as a vast market worth roughly $300B annually, including both content and surrounding businesses. They concentrate heavily on the content side, with a significant portion of their portfolio dedicated to core content deals, such as popular games like "Call of Duty" and "Super Mario” than the broader category of gaming.

* Opportunities: Emerging app stores and transmedia IP are two dynamic areas in gaming, with opportunities in mobile gaming resurgence and cross-platform storytelling, like games turning into TV shows or movies, revitalizing interest in both mediums.

* Why Web3: Financialization in gaming isn't new, but Web3 makes it more transparent and integrated by enabling open economies and property rights for in-game assets, enhancing the overall gaming experience.

* Challenges of Web3 gaming: Web3 gaming's slow mainstream adoption is due to the lengthy development cycle of quality games, compounded by evolving Web3 infrastructure and market disruptions, which often misalign with the faster expectations set by early token launches.

* Brands & Gaming: Brands entering gaming should prioritize authenticity, creating meaningful experiences that resonate with players. Simple, quick interactions may have limited impact, while deeper, more thoughtful engagements can build lasting connections.

* AI x Blockchain: AI, particularly in enhancing non-player characters (NPC) interactions and content creation, is likely to have the most significant impact on gaming in the near future. Blockchain also holds the potential for creating open and player-driven economies in games.

That’s it for now.

Thanks for being part of the journey.

Talk soon,– Marc

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