web3 with a16z crypto cover image

The Metaverse, Crypto, Virtual Society

web3 with a16z crypto

00:00

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.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app