
The Metaverse, Crypto, Virtual Society
web3 with a16z crypto
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The Value Inversion in Cryptocurrency Platforms
In crypto, you don't have any middlemen or if you do have middlemen, they're taking a much smaller take grade. Last year, Minecraft announced that they paid out $350 million to developers. So creators generated $350 million from mods on Minecraft. But after a 50% take rate, that's $170 million in creator payouts. And Minecraft has 140 million monthly active users. Given that only a fraction of people actually buy anything in a free to play game, 90% of the revenue is coming from a tiny fraction of people and everyone else is actually a job they do for free,. which is being shot by people who have paid money for item.
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