The Format #034
In-app landlords, PS(web)3, a crypto country, 'dark talent' and the problem with Robux.
It’s almost the weekend, happy Friday!!
Here’s a round up of everything we’ll be covering today:
Patreon and it’s creators had a falling out → it’s Apple’s fault
Why the home of Gen Alpha is still losing money
The rise of the new (and decentralised) freelancer
A rather unique school aimed at nurturing ‘dark talent’
What to expect as Sony moves into web3
Anyway, let’s dive in…
Roblox is Already the Biggest Game In The World. Why Can't It Make a Profit (And How Can It)?
Roblox has been a phenomonal success, both as a gaming platform, and increasingly as a social hub for the next generation, with players spending close to six billion hours on it every month. Yet they still lose $38 for every $100 in revenue.
There are many factors that contribute towards this, but one of the most significant is the 23% they have to pay to app stores for in-app purchases. The shocking part is that the UGC developers who drive the Roblox platform only get 3% more than this, a meagre 26% of the revenue they generate…
Sony’s Long-Awaited Ethereum Layer-2 Chain to Launch in Coming Weeks
After acquiring a crypto exchange and a lot of R&D, Sony is finally about to make some pretty huge web3 announcements.
With so much IP at Sony’s disposal, what they build next is anyone’s guess. As Mark put it earlier this week, it could be anything from a decentralised credit based film and game streaming ecosystem to a web3 Walkman aimed at rivalling Spotify.
From Chaos to Crypto: The Crecimiento Movement Igniting Argentina
More than a third of the population uses crypto for everyday transactions and the country also has seen the highest number of crypto-paid employees in the world, with over 50% of the freelance economy powered by crypto in recent years.
The above stats tell a very clear story.
Argentina have proactively adopted crypto and now, as the article states, there is a month-long pop-up in Buenos Aires aiming to show how crypto can transform an economy from the bottom-up. 😍
The Network School
With the goal of democratising holistic and high quality education, the Network School is a digital first school that flips the current education system on it’s head. They are also using blockchain in a number of ways including using non-transferable NFT’s so students can build a ‘cryptoresume’ and offering daily bounties for students who complete specific tasks.
We’ll definitely be keeping an eye on how the experiment progresses. 👀
The Price of Payments
Over the years Patreon has been praised for their creator advocacy and for normalising direct to creator payments, however last week they had to explain to their creators that they would be introducing Apple’s 30% in-app purchase fee.
This is yet another tax for creators and another signal that the current models that dictate the flow of money across the internet are flawed. This piece is a really great read, with a nuanced view on the problem.
USDC Tap-to-Pay on Apple iPhone 'Incoming Soon': Circle CEO
Apple has finally decided to open up the use of their NFC chip for payment to third-party developers. This could revolutionise accessibility when it comes to web3, allowing for payment with crypto or use of blockchain-based certificates and tickets in literally one phone touch.
There are some slight caveats though, most notably that there will be a (so far undisclosed) fee for using this tap-to-pay functionality. No real surprise there…
That’s all for this week.
Have a great weekend, Dan and the OPENFORMAT team 👋🏽
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Prompt (Generated by DALLE-2): “A fantastical 'network school' in a futuristic setting, blending technology with elements of human connection, health, and growth. The school consists of interconnected floating structures with sleek, transparent walls. Inside, vibrant classrooms feature holographic displays, but also lush indoor gardens, open spaces for yoga and meditation, and areas designed for physical activities. The pathways between buildings resemble glowing data cables but also have natural elements like flowing water and greenery. Students are seen interacting not only with technology but also with each other, engaging in group activities, and enjoying outdoor fitness areas. The overall atmosphere exudes harmony between digital advancement and human well-being, with a warm, welcoming glow.”