Shurick Agapitov

Unpopular opinion: Valve is not the "good guy" of gaming. The Steam Winter Sale starts tomorrow. Millions will log in for the deep discounts. But what have these low prices cost the game industry? I've been analyzing Steam's $10B business model. Here is the dark truth behind those amazing deals. 1. The "M" Word Steam controls 75% of the PC market (IconEra, October 2025). Last year, they made $10.8 billion. Compare that to Epic Games. Epic has more users (295M vs 132M) but made 42x less revenue. Epic has accounts. Valve has customers. EA and Ubisoft tried to leave. They came back. Because you can't boycott the ocean. 2. The Flash Sale Weapon Valve figured out that deep discounts are a drug. A game you'd never buy at $60 becomes an instant buy at $4.99. A consumer win, but what's the long term impact? Customers stopped asking, "Is this worth $60?" Now they ask, "How long until it's $15?" 3. The Real Math Everyone talks about Valve's 30% cut. That isn't the real problem. The problem is the Average Selling Price. If your game lists for $60 but only sells during sales, your average price is $35. You aren't losing 30% of $60. You are losing 30% of $35. Worse? You don't control the calendar. Valve dictates when you make money. And when that sale hits? You are competing against 18,000 other games with the same discount. 75% off isn't differentiation anymore. It's table stakes. (But don't worry, Valve will let you run a "Publisher Sale" so you can discount your entire catalog by 90% too.) 4. The Trap This model fundamentally changed the industry... It kills retail: GameStop can't compete with a digital file that costs $0 to ship. It creates lock-in: Your backlog is a sunk cost. You won't leave Steam, or you lose your library. And your wishlist locks you in too... when those games go on sale, you're not shopping, you're harvesting. The "new release" moment is rare: 33% of gamers buy a new game less often than once a year. They're playing backlog, subscriptions, or free-to-play. (VGC, citing Circana's Q3 2025 Future of Video Games survey, October 2025) 5. Valve is no Villain Let's give credit where it's due. Steam saved PC gaming when it was a nightmare of manual patches and lost discs. They gave indies a global shelf. Stardew Valley, Hades, and Hollow Knight found audiences that retail never would have supported. They created the "long tail." In the 90s, if you were off the shelf, you were dead. On Steam, a 5-year-old game can still spike. The Takeaway Valve didn't just build a store. They built an architecture that killed retail, locked in customers, and forced publishers to play by their rules. But here is the irony. I know exactly how this machine works. I know it devalues the art I love. But when that "Wishlist is on Sale" notification hits my phone tomorrow? I'll open my wallet just like everyone else. See you in the checkout line. Part 1 of the Valve Series. #Steam #GameIndustry #Valve

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Serious CEO series PART 3: Sales Management – “Revive, optimize, and grow your released game.” It is time to focus on the second pillar of our business. A specialized Untold Tales initiative focused on maximizing the commercial lifespan of released titles through comprehensive post-launch support. We provide: Store optimization across Steam and major digital platforms Pricing and discount strategy to balance revenue and visibility Feature participation management (seasonal events, bundles, platform promos) Influencer and PR refresh campaigns to reignite awareness Data-driven campaign boosts leveraging analytics and historical performance Strategic use of the Untold Tales portfolio reach and brand equity to amplify results The goal: to revive, stabilize, and grow games that deserve renewed attention — turning catalog titles into sustained revenue performers. Original post: https://lnkd.in/dHPBA_XJ

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🚀 GAMEFI 4.0 — How to Revive Crypto Games (Part 2) ⸻ 🎯 The Core Idea GameFi 4.0 = DeFi + Gaming A new hybrid model where gameplay revolves around real yield, not airdrops. Players don’t spend money — they deposit assets that generate yield. In return, they receive NFTs as synthetic bonds with the function of a battle pass. ⸻ ⚙️ The Solution Framework 1️⃣ Rethinking VC Deals The deal structure doesn’t have to be just SAFT. It can be SAFE or hybrid SAFE/SAFT (equity + tokens) to reduce token allocation for VCs and balance incentives. ⸻ 2️⃣ Productive Treasury Management Raised or staked assets are farmed with low-risk strategies in top DeFi protocols (5–10% APR). Funds can be used for: • Team payments • Token buybacks • Future prize pools or insurance This transforms idle capital into an income-producing engine. ⸻ 3️⃣ The NFT Bond System At launch, players don’t buy NFTs — they stake tokens. The smart contract splits them into two parts: • Principal NFT — represents the deposit, grants game access (can act as an item). • Yield NFT — represents future yield from that deposit. Then the fun begins: • Want instant liquidity? Sell your Yield NFT — get yield upfront, lose future income. • Want higher upside? Buy Yield NFTs — take on the yield risk/reward. • Want safety? Hold your Principal NFT and reclaim your deposit later with the earned yield. It’s a DeFi-meets-gameplay economy. ⸻ 4️⃣ True Free-to-Play, Without Inflation The deposit is always refundable (unless leveraged). Players can earn or lose yield — but not their principal. The longer they stake, the rarer the NFT and higher the yield multiplier. No ponzinomics, no inflation — only productive capital and fair competition. ⸻ 5️⃣ Competitive Yield Layer Players compete for each other’s yield. For example, Player A earns 10% base APR and wins PvP — they capture a portion of the opponent’s yield (+5–30%). Optionally, leverage can amplify both rewards and risks (LTV-based). It turns trading, yield, and strategy into the core gameplay loop. ⸻ 6️⃣ Anti-Sybil Mechanism This model eliminates bot farms and airdrop hunters. Players must stake something — zero-effort farming dies out. Airdrops = CAC (cost of user acquisition). Here, users actually contribute value. ⸻ 7️⃣ Scalable Protocol Layer This engine can power other games. Projects can launch their tokens on the platform, trade on its own DEX & NFT marketplace, and share liquidity — instead of fighting for it. The platform earns on trading fees and creates its own liquidity ecosystem. ⸻ 8️⃣ The Philosophy Shift Crypto gamers aren’t Web2 gamers — they are traders, investors, yield farmers with gaming DNA Entertainment is a hook, not the product in crypto. What they truly want is volatility + fairness + upside GameFi 4.0 is a new genre of economic strategy, not “Play-to-Earn” Let’s be honest — Play & Earn and AAA crypto games failed This time, the design starts from the economy — and the gameplay follows yield.

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South Korean Tech Giant Naver to Merge with Upbit Operator Dunamu, Forging a KRW 20 Trillion Crypto-Finance Powerhouse South Korea's top payment platform, Naver Financial, is merging with Dunamu, operator of the country's largest crypto exchange, Upbit. The deal will form a fintech powerhouse valued at roughly KRW 20 trillion, aiming to seamlessly bridge traditional finance and digital assets. This landmark consolidation is not yet final, as it faces a rigorous and lengthy approval process from South Korean financial and fair-trade regulators who are concerned about market dominance and systemic risk. This news is profoundly bullish for market sentiment, acting as a powerful signal of mainstream validation. The involvement of a tech and payments titan like Naver legitimizes the crypto industry and reduces perceived investment risk. Traders will view this as a major catalyst for long-term institutional and retail confidence in the South Korean market, a key global crypto hub. While immediate price action may be tempered by regulatory uncertainty, the underlying emotional interpretation is one of long-term optimism and structural adoption, encouraging a "buy the rumor" mindset. Source - https://lnkd.in/dYS2marH

Introducing PLAIX **Transform your stream with a fully-animated AI co-host that watches, reacts, and engages with your audience in real-time.* ## 🚀 PLAIX is a revolutionary AI-powered streaming companion that combines **real-time game commentary**, *3D avatar animation*, and **intelligent chat interaction** into one seamless package. Whether you're streaming Rocket League, hockey, or soccer, PLAIX watches your gameplay, generates dynamic commentary, and interacts with your Twitch chat like a real co-host. ### 🎯 Built for Streamers, By Streamers - **Zero Setup Hassle** - Works right out of the box with OBS/Streamlabs - **Fully Customizable** - 170+ personalities or create your own - **Production Ready** - Professional-grade lip-sync, animations, and voice synthesis - **Chat Integration** - Responds to your viewers automatically with personality - **Game-Aware AI** - Actually understands what's happening in your game 🎙️ **AI-Powered Live Commentary** - **Real-time game analysis** using YOLO computer vision - Detects goals, shots, saves, and plays as they happen - Generates unique commentary for every moment (never repeats!) - Sport-specific terminology for Rocket League, Hockey, and Soccer ### 🤖 **Animated 3D Avatar** - **Professional lip-sync** with phoneme-accurate mouth movements - 50+ contextual animations (excited, thinking, laughing, celebrating, etc.) - Custom avatar support (import your own ReadyPlayerMe models) - Gesture detection (nods, shrugs, excitement) triggered by speech patterns - Transparent overlay - works with any stream layout ### 💬 **Twitch Chat Integration** - Auto-responds to questions and mentions - Personality-driven conversations (not generic bot responses) - Detects subs, follows, raids with custom reactions - Shows viewer messages in captions before responding ### 🎭 **170+ Personalities** Choose from diverse pre-made personalities or craft your own: - **Stoney** - Chill stoner philosopher vibes - **Professional Commentator** - Sports broadcaster style - **Valley Girl** - Upbeat and enthusiastic - **80s Rockstar** - Energetic and dramatic - **Late Night Roaster** - Sarcastic comedy - **Fortune Teller** - Mystical and mysterious ### 🎤 **Multiple AI Providers** - **Echo AI (Ollama)** - Local AI with full privacy (dolphin-mistral, llama3.2, etc.) - **Pollinations AI** - Cloud-based with OpenAI, Claude, and more - Mix and match TTS engines: Kokoro (fastest), Edge TTS (most voices), Pollinations ### 🎬 **Automatic Highlights** - Auto-saves epic goals and shots as video clips - Configurable clip duration (10-30 seconds) - Perfect for creating montages and TikTok content ### 🎮 **Multi-Game Support** - **Rocket League** - Full 4v4 player tracking - **Hockey** - NHL roster support with real player names - **Soccer/Football** - Ball and player detection - Custom character prompts for unique personalities - Ball trail visualization with multiple styles - Voice chat mode for direct AI conversations. Twitch Epic Games Psyonix

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When a TradFi Titan Joins DeFi, You Pay Attention This isn’t just a hire. It’s a signal. 𝐌𝐚𝐧𝐟𝐫𝐞𝐝 𝐊𝐧𝐨𝐟, former CEO of 𝐂𝐨𝐦𝐦𝐞𝐫𝐳𝐛𝐚𝐧𝐤, has stepped into the DeFi world—joining 𝐃𝐞𝐅𝐢 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬 as a strategic advisor and Chair of its subsidiary, 𝐕𝐚𝐥𝐨𝐮𝐫. And let’s pause here. A top executive from one of Germany’s largest traditional banks is now steering a digital asset firm toward institutional partnerships and global expansion. Why does this matter? 1. It validates DeFi’s institutional potential 2. It bridges legacy finance with next-gen infrastructure 3. It accelerates regulatory and strategic alignment for global growth We've seen executives dabble in Web3 before. But Knof isn’t dabbling—he’s committing. This reminds me of 𝐁𝐥𝐲𝐭𝐡𝐞 𝐌𝐚𝐬𝐭𝐞𝐫𝐬 joining Digital Asset Holdings in 2015 or 𝐁𝐫𝐢𝐚𝐧 𝐁𝐫𝐨𝐨𝐤𝐬 moving from the OCC to Binance US. These are inflection points, not footnotes. If DeFi wants legitimacy, leadership like this is the price of admission. We’re witnessing the slow—but real—𝐜𝐨𝐧𝐯𝐞𝐫𝐠𝐞𝐧𝐜𝐞 𝐨𝐟 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐚𝐧𝐝 𝐜𝐨𝐝𝐞. #DeFi #TradFi #DigitalAssets #Web3Leadership #InstitutionalCrypto #Valour #ManfredKnof #ThoughtLeadership

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INSIGHT for game providers, platforms, and aggregators: Sweepstakes casino isn’t a side trend — it’s becoming a serious business model in the U.S. market. Top platforms already generate millions with: 💰 Gold & Sweeps Coins 🧩 New billing logic 🎮 Multiwallet-ready games 🎁 Bonus systems tailored to virtual currency The shift is real — and fast. If your games, RGS, or platform don’t support sweepstakes mechanics yet, you may be late to the table. ⸻ #SweepstakesCasino #iGamingTrends #GameProviders #CasinoPlatforms #RGS #GoldCoins #SweepsWallet #ProductStrategy #INSLOTER

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This is a race to build Visa/Mastercard-like networks on chain rails — with Google, Stripe, and Circle each optimizing for their core advantage (infra + cloud, merchant acquiring, and stablecoin plumbing, respectively). The big open questions: governance models, interoperability (to banks & public chains), and fee/MEV policies. Watch for: GCUL’s technical paper + pilot results, Tempo’s public testnet dates & merchant SDKs, and Arc’s bank integrations and settlement SLAs. Why not use existing L1s? Your “rent vs own” framing is directionally right. On public L1s you inherit: Shared governance & roadmaps (can’t unilaterally change rules). Congestion and fee markets (variable UX at peak times). Unpredictable MEV/demand competition with everyone else. These are exactly the pain points enterprise payments rails want to avoid. (See also BIS “unified ledger” thinking that’s pushing regulated, programmable settlement stacks.)

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Your biggest risk can be your greatest asset. Shuhei Yoshida (ex-PlayStation head) advises game devs in emerging markets to create authentic titles instead of copying trends. A perfect example is the game Nine Sols. The creators, Taiwanese studio Red Candle Games, were known for horror. But they took a huge risk and pivoted to a fast-paced action game. The magic? They didn't just copy other games. They created a unique "Taopunk" world, blending their culture (Taoism) with cyberpunk. The result: a massive critical and commercial success. It proves that leaning into what makes you unique is a winning strategy, no matter your industry. What's a time you've seen a risky, authentic idea pay off? #GameDev #IndieGame #NineSols #Authenticity #Storytelling #Marketing

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GoTab adds Intercard integration Intercard is set to team up with GoTab, the entertainment commerce platform, to make reloading game cards easier. GoTab’s open API and architecture allowed the integration to come together fast, with GoTab enabling staff to add value directly to the guest’s open tab, whether they’re ordering from a server, bartender or handheld POS devices. Read more: https://ow.ly/3mgn50Wv7q2

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Interesting report from Newzoo and Tebex: Player payment behaviour in the West in 2025 📊 $188.9B is the size of the gaming market in 2025. North America and Europe account for 46% of all spending. 📊 Despite taking a major share of revenue, North America and Europe make up only 20% of all players globally. 📊 North America has the highest annual ARPPU - $324.9. In Europe, it is $125.4, with Western Europe at $170, and Eastern Europe at $51.6. 📊 Europe is growing faster than North America in the number of paying players. The average annual growth rate from 2023 to 2027 in North America is 1.1%, while in Europe it’s nearly three times higher, at 3.1% yearly. 💰 Payment characteristics in global markets 📈 The Asia-Pacific region leads with 742M (+3.9% YoY) 📈 Second is the Middle East & Africa (222M, +7.4% YoY) 📈 Third is Europe (264M, +3% YoY) 📈 Fourth, Latin America (171M, +5.4% YoY) 📈 Fifth is North America (162M, +1.6% YoY) 💳 Payment and Payment preferences 📊 Users prefer different payment types. Tebex highlights BNPL (buy now, pay layer) and cryptocurrency payments. In Europe and North America, these methods have a higher ATV than card payments. However, the overall volume of such payments is still much smaller. 📊 Among users who have used both cards and BNPL, there was no decrease in transaction frequency. 📈 The average monthly ATV in 2025 grew from $30 to $40. Most likely, this indicates that users, responding to inflation, prefer to buy more expensive, but more valuable items. 📊 Shooters, RPGs, and puzzle games are the highest-earning genres in the US. 📊 In Europe, sports games is the highest-earning genre. 📊 The main revenue comes from microtransactions, DLC, and subscriptions. 🌎 US Data: 🎮 Subscriptions account for 21% of all spending. 💻 On PC and mobile, subscriptions are less common. 📊 Interestingly, despite subscriptions, more premium games are purchased on consoles (52%) than on PC (49%), even though theoretically those should be included in subscriptions. 🌍 Europe: 💳 Very similar to the US, but users are much more active with microtransactions on both PC and console. 💰 Spending habits There are substantial differences in motives for purchases. In North America, they pay to unlock new content (34%), play with friends/family (30%), and personalize characters or build something in-game (29%). In Europe, there’s more focus on discounts and special offers (28%), and users are less tolerant of ads, often paying to remove them (21%). (source: https://lnkd.in/eDP4xrNQ)

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Quantum risk is shifting from a theoretical discussion to an infrastructure design constraint. Post-quantum security isn’t about fear—it’s about time horizons, asymmetric risk, and trust durability. Systems being architected today will either absorb the quantum transition… or struggle to retrofit later. This is why work like the one shared by Naoris Protocol matters. It also mirrors a core thesis behind QuantumSurf: 👉 resilience has to be native, not bolted on 👉 monetary and data systems should assume adversarial futures, not linear ones 👉 trust must survive technological discontinuities Worth reflecting on for anyone building long-lived digital or financial infrastructure.

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Mobile Game Genres Top 2020-2025 Based on AppMagic data, here are the top genres by year: 𝟭. 𝟮𝟬𝟮𝟬 • 𝗧𝗼𝗽 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: Team Battler, MMORPG, 4X Strategy. • 𝗧𝗼𝗽 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱𝘀: Platformer, Arcade: Other, Arcade Racing. • Team Battlers led with $6.35B revenue. 𝟮. 𝟮𝟬𝟮𝟭 • 𝗧𝗼𝗽 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: 4X Strategy, MMORPG, Team Battler. • 𝗧𝗼𝗽 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱𝘀: Platformer, Arcade: Other, Arcade Racing. • Platformer downloads peaked at nearly 5B. 𝟯. 𝟮𝟬𝟮𝟮 • 𝗧𝗼𝗽 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: 4X Strategy, MMORPG, Team Battler. • 𝗧𝗼𝗽 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱𝘀: Platformer, Arcade: Other, Arcade Racing. • 4X Strategy generated $6.2B in revenue. 𝟰. 𝟮𝟬𝟮𝟯 • 𝗧𝗼𝗽 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: 4X Strategy, Team Battler, MMORPG. • 𝗧𝗼𝗽 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱𝘀: Platformer, Arcade: Other, Arcade Racing. • Team Battlers reclaimed the #2 revenue spot. 𝟱. 𝟮𝟬𝟮𝟰 • 𝗧𝗼𝗽 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: 4X Strategy, Match-3, Team Battler. • 𝗧𝗼𝗽 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱𝘀: Platformer, Arcade: Other, Arcade Racing. • Match-3 hit $4.8B, pushing MMORPGs out of the top 3. 𝟲. 𝟮𝟬𝟮𝟱 • 𝗧𝗼𝗽 𝗥𝗲𝘃𝗲𝗻𝘂𝗲: 4X Strategy, Match-3, Team Battler. • 𝗧𝗼𝗽 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱𝘀: Platformer, Arcade: Other, Arcade Racing. • 4X Strategy revenue surged to $7.36B. 𝟳. 𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 💡 • 4X Strategy is the undisputed king of monetization. • Platformers and Arcade games own the install charts. • MMORPG revenue share has slowly declined over 6 years. • Match-3 remains an incredibly stable cash cow. --- Analyze the market and get insights with AppMagic

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Apple Approves First-Ever IOS Game Integrating Bitcoin Microtransactions. Apple has approved SaruTobi as the first iOS game with built-in Bitcoin microtransactions using ZBD’s Lightning Network. This marks a major policy change prompted by EU regulations and recent court rulings, allowing real-money payments and rewards in Bitcoin within the app. Players can spend or earn tiny Bitcoin amounts (“sats”) for in-game actions instantly, enabling a new in-game microeconomy. Why you should care: - Breakthrough for Payment Systems: This is the first time Apple has approved a game with native Bitcoin microtransactions, challenging its longstanding restrictions on alternative payments. - Innovation for Developers: Developers can now offer instant, programmable, and cheap in-app purchases down to the cent, outside of traditional pricing tiers and fees. - Gaming Microeconomy: Players gain new ways to engage, spending a few cents for power-ups or earning Bitcoin by playing, potentially creating a more interactive and rewarding gaming experience. - Wider Implications: This move may lead to more Bitcoin-powered and alternative payment options across the App Store in the future, setting a precedent for digital platforms globally. This approval signals a new era for digital payments and mobile games, opening doors for further crypto innovation on major platforms.

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Web3 Gaming: Redefining Value in the Digital Entertainment Economy #Web3Gaming #Blockchain #GameDevelopment The gaming industry is undergoing a significant transformation. Driven by blockchain technology, Web3 gaming is fostering a new paradigm of player ownership, decentralized economies, and interoperable experiences. Players are evolving from passive users to active participants in the value creation process. Key shifts include: * Ownership: In-game assets, skins, and collectibles are now tradable, transferable, and tokenized, extending beyond the confines of individual games. * Economics: Incentive models are evolving from play-to-earn to play-and-own, fostering more sustainable and engaging ecosystems. * Interoperability: Non-fungible tokens (NFTs) and blockchain technology enable the utilization of assets across multiple games and metaverses. * Governance: Decentralized Autonomous Organizations (DAOs) and voting models empower players to participate in shaping game roadmaps and development. This innovation necessitates a commitment to building games that are not only decentralized but also engaging, equitable, and sustainable. Web3 gaming, at the intersection of gaming, technology, and finance, holds the potential to reshape the global digital economy. I am focused on sharing insights, connecting with innovators, and collaborating with those who are pushing the boundaries of this space. If you are building, investing, or conducting research in Web3 gaming, I invite you to connect. I welcome your perspectives on the most significant opportunities and challenges facing Web3 gaming today. #Metaverse #GameFi #TechInnovation #CryptoGaming #FutureOfGaming #DeFi #DigitalAssets #GamingIndustry #Web3Strategy #BuildInPublic

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Bill Hughes debunks FUD from the The New York Times that stables will lead to the market chaos of the free banking era if the 1800s. NYT’s analysis of course ignores all the damage the Fed and the big banks have done in recent decades, as if their monopoly on money has eliminated chaos and systemic risk.

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Big news on long term financing the Aethir way: “Aethir token holders will be able to unlock credit lines against their ATH tokens. Holders of ATH can access stablecoin credit without selling their holdings, using their digital assets as collateral. As part of our partnership with Credible, we will jointly launch a free stablecoin credit card. Aethir Checker Node operators, ATH stakers, and ATH token holders will be able to claim a free ATH-powered credit card issued by Credible.” #partnership #aethir #lfg

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