How Bryllite Offers a Potential Sneak Peek at the Future of Crypto + Gaming
TL:DR; Gamers and crypto represent a unique confluence of needs, market readiness, and opportunity. I agreed to become an advisor to Bryllite in order to have a front-row seat on the effort to empower gamers through ownership of their assets.
Let me admit upfront that to a Western eye, the first glance at Bryllite’s whitepaper or video may give you pause. The English is good, but not perfect. The talk track on the video is as well. For the short-term, these issues are not deal breakers as the primary focus is on the Asian market.
As you all know, in the world of ICOs and crypto, you have to know who you are dealing with…it is definitely caveat emptor. These signals are important, which is why these elements will have to get better over time.
At the same time, in my line of work, you have to take some calculated risks and be willing to learn. When I was approached by the Bryllite team to serve as an advisor, I saw a unique opportunity. I was introduced to Bryllite by an alum of the Crypto Explorers trip to Zug and a power player in the Korea crypto scene. Based on his recommendation and request, I said I would do it.
The real value, however, was in having a front row seat to what Bryllite is trying to do and the opportunity in front of it.
The Opportunity is Huge
Gamers are, as a group, extremely technically savvy. They tend to be early adopters. There’s a high crossover between gamers and crypto owners.
What’s more, they all understand the challenges and problems associated with having digital assets that they have earned or bought (swords, special powers, whatever) locked up in proprietary platforms that lack liquidity.
Gamers, much more than the average Facebook or Twitter user, understands how their efforts create a little value for themselves, but huge amounts of value for the centralized game developer.
A lot of people see this opportunity, but the reason why I am intrigued so much by the Bryllite approach is not just the opportunity or even the technology, it’s the home-field advantage of the market and the strategic strength that comes from the tight networks there.
The Strategic Advantages of the Market
As I shared after my visit to Korea in March, I was blown away by the level of crypto sophistication there, the energy, and the infrastructure in place to support growth. Plus, I’d had very favorable opinions of Koreans’ ability to execute on a plan of economic growth, based on my study of their history and my proud ownership of a 15 year old Hyundai.
Korea and Japan are the top two most active gamer markets in the world. Korea is a test bed for new products for many companies.
In other words, stuff that happens there is what the Western world will see in 12–24 months. And it’s a mobile first environment. Has been that way for a long time.
I remember when I lived in Japan in 1997 was when I got my first cell phone. Pretty much everyone had one. By the time I got back to NYC, I was surprised that most Americans did not have one.
So home market is a strategic advantage. The other advantage is that they have already “signed MOU’s with global game companies with a cumulative subscriber base of 1 billion gamers.” Many of the big game companies are there and the networks in these countries of business leaders are extremely tight. When these groups cooperate, their execution can be relentlessly effective.
So much of business comes down to things that have nothing to do with technology. Timing, market conditions, relationships, and more.
That’s what makes this project very unique in my mind.
They have already completed their public sale (it was sold out). [Note: this post is not a solicitation in any way]
A Project, Industry and Country to Watch
Whether Bryllite will be the winner or not, I can’t say, but the thesis that a global crypto gaming powerhouse will emerge from NE Asia makes a lot of sense to me. I could be wrong, but I am pretty confident of that
Crypto Explorers is doing an event in Seoul at the end of October (let me know if you are interested, space is limited) where we will dive into the Korea crypto scene and meet some of the key players so you can decide for yourself.
As for Bryllite, I am definitely rooting for them and will do what I can to help them. That’s my job, after all.
I love the idea of an unexpected success (at least from the Westerner perspective) and think that the technology and timing components of their plan are spot on.
In the crypto world, it’s critically important to look way outside of your normal lens.
This is one I will be watching.