After doing this for a long time, you'll notice something truly magical.

Currently, there's no shortage of anything on the chain. Public chain TPS easily exceeds ten thousand, Gas fees are so low they can be ignored, and the graphics rival AAA game titles. But if you browse the data of those GameFi projects valued at billions of dollars on a blockchain explorer? Daily active users are pitifully few, some can't even gather four people for a game of mahjong.

The most surreal reality in 2025 will be this: houses are built grandly and luxuriously, but no one lives in them.

I've been trading for many years, and there's a hard rule—assets without liquidity are just worthless paper. In DeFi, liquidity is capital; in GameFi, liquidity is users. The current problem is that money is everywhere, VC firms are racing to invest; but where are the people? They can't find them.

Just when everyone is at their wit's end over this "ghost town dilemma," Yield Guild Games has taken action again. This time, they didn't simply copy their previous gold-farming model but launched the YGG Play Launchpad, which can be understood as a "real traffic solution." Today, I want to talk with you about why I think YGG has a chance to solve the most challenging cold start problem in Web3, and what investment opportunities are hidden inside.

First, let's discuss the tough problem of cold start.

What should Web2 games do when they lack users? Simple and straightforward—spend money on user acquisition. Launch Facebook and Google ads, calculate CPA and ROI precisely, and spend money to bring users in. But this approach doesn't work at all in Web3.

Why? Because the cost to acquire Web3 users starts at ten times that of Web2. You need to educate users on what a wallet is, how to sign, what Gas fees are, how to cross-chain... Just these barriers can scare away 90% of potential users. Not to mention, the quality of chain games varies greatly, and the cost of trial and error is too high; once users get burned by a scam or lose interest, they'll never come back.