Gaming Sub-Sectors
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Wemade’s journey offers a glimpse into what it takes to bring Web2 gamers and Web3 economies together. While their core business continues to deliver strong, compounding cash flows, Wemix still hasn’t reached its full potential. The year ahead will be pivotal in determining whether Wemade can forge a deeper connection between player engagement and token economies, or whether its blockchain efforts will remain ancillary to the core business.

MON Protocol - Primed for IP Expansion
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While the broader Web3 gaming market has been struggling, a handful of extremely well capitalized teams have seen their valuations retrace significantly from their early 2024 highs. Among them, MON Protocol, a team that has continuously shipped throughout the last 24 months while having access to one of the largest cash-treasuries in Web3 gaming. Are we finally entering a gaming market with attractive opportunities?

Finding the Fun in Fundamentals #1 - Mythical Games
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We believe that over the next 12-18 months there will be increasing interest in gaming projects that prioritize sustainable monetization over speculative hype. This report examines Mythical Games and its fundamentals-first approach. The analysis explores their key products, monetization strategies, and the broader challenges they face in competing with established Web2 incumbents.

Proof of Gamer: How KGeN is Reimagining User Acquisition
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This report analyzes the challenges in the gaming industry, focusing on distribution and user acquisition, and explores opportunities in the Global South. It introduces KGeN, a blockchain-powered gaming platform that aims to improve incentive alignment between publishers and players using a decentralized reputation system called the Proof of Gamer (PoG) engine. The report compares KGeN to competitors in both Web2 and Web3 markets, highlighting its strengths in data and user acquisition, and discusses future opportunities for growth and monetization.

The Year Ahead for Gaming 2025
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The fight for player liquidity is in full effect, and liquid gaming tokens are struggling to find an audience. However, the small handful of highly-anticipated game launches, newly opened distribution channels, and prospects for a year full of gaming x AI innovation excite us for what’s to come in 2025.

Off The Grid - Web3 Gaming's Biggest Launch
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Off The Grid - Web3’s first ever true AAA title - just launched on PC, PS5 and Xbox, marking the most exciting gaming release of this cycle. With top streamers like Ninja or Ludwig playing a Web3 game in front of millions of viewers, it is time to dive in and dissect the Off The Grid ecosystem and find out how much potential it truly has.
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