In episode S3 E45 of the Web3 CMO Stories podcast, we had the privilege of diving deep into the world of Web3 gaming with Corey Wright, a seasoned entrepreneur and the visionary behind Hexacon Studios. Corey's entrepreneurial spirit has seen him launch, scale, and sell numerous businesses over the last two decades. His latest venture, Honeyland, has quickly risen to become a top mobile game on Solana, captivating both Web2 and Web3 audiences.
My conversation with Corey was not only insightful but also filled with practical wisdom for anyone looking to make their mark in the Web3 space.
Here's what I took away from our discussion:
Product First, Hype Later: Corey emphasized the importance of building a solid product before generating hype. Unlike many Web3 projects that focus on hype to attract investment, Hexacon Studios dedicated two years to developing Honeyland, ensuring there was substantial value and functionality behind the buzz.
Revenue-Generating Business Model: The necessity of having a sustainable revenue model in Web3 was a key lesson. Corey pointed out that many projects fail because they rely on initial capital infusions without a clear plan for ongoing revenue generation.
Embrace the Web3 Mindset: The fast-paced and volatile nature of Web3 requires a resilient mindset. Corey shared that the highs can be exhilarating, and the lows devastating, but the key is to stay adaptable and use the rapid changes to your advantage.
Breaking Down Barriers for Web2 Gamers: Honeyland stands out by making Web3 gaming accessible to Web2 gamers. By removing common barriers such as the need for NFTs or cryptocurrency to play, Honeyland has created a welcoming environment for all players.
Community and Values: Building a positive and respectful community has been central to Honeyland's success. Corey and his team have fostered an environment where players feel valued and heard, contributing significantly to the game's growth and sustainability.
Sustainable Game Economy: A thoughtful approach to the game's economy, focusing on happiness rather than profits, has allowed Honeyland to thrive. By prioritizing player experience and ownership, the game has created a loyal and engaged community.
Adapting to Market Conditions: Launching during a bear market didn't deter Hexacon Studios. Instead, they focused on building a quality product and community, proving that resilience and adaptability are key in the volatile Web3 space.
Here is one of Corey's quotes that resonated with me: "We lead with happiness, not profits. And I think that's one of the things that we've done, and the mechanics speak to that as well."
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