Yeah, I realized this morning that they said back in December their JV was with a company and to be honest I think that company was their Merkai Studios. So, IMO, I expect nothing to come new with "JV" as it was basically already done. If it hasn't already happened by now in the last 1 1/2 years the concept of a JV with a real gamer company (not some focused studio on one platform) then in my opinion it is not going to happen.
Also, everything they are building is old technology and old games. I mean it is Minecraft and trying to regurgitate stuff from over 5 years ago with a fresh look. IMO it is putting lipstick on a pig and calling it new.
Essentially when you put it all together this company in my opinion is being run by a group of old executives that have old ideas and shelved the younger folks from chiming in and leading. To me it looks like the whole track is to build games essentially that they shelved 5 years ago because they couldn't make money but now it is DO IT again "with new ideas". From a money standpoint, it appears, they are going the path of microtransactions; not allowing the players to own anything or really make money on it; and essentially the company controlling everything. But they are doing this all on something they already said "We are not putting any more resources on" in 2022... So, yeah ... What changed? IMO, this whole path is old school development and old game company processes.
Not to mention, I was in conversation with the current leadership at one point in 2022 and the response was "the players will make money and the company will not make much" on sales of NFTs. I should have realized this is an old game executive with old thoughts, but I was on the hopium train. The whole basis of Web 3 is for the company and the players to make money on a transaction-by-transaction basis but not aggregate sales. The key is ... the players make money ... so everyone wins. I honestly don't think the leadership has an idea on how these Web 3 projects work, which is micro-sales and aggregation of the sales. Sure, there is some gamer that makes like $1000 on a sale and you make 5%, but that is what you want. You want that to happen over and over ... for as long as possible. As it stands, they basically killed the market of their Web 3 and are going back to their old "we are the company, and we get all the money" mentality. IMO.
In my holding of privately run projects, the projects I am on are being run by a generation of folks younger than me, which means new ideas and new paths that are more related to the current times. As it stands, if GMER is to succeed as a public entity it needs fresh management to run the show. Not some past leadership from a section of a gaming company in 2015. They need fresh ideas and players want ownership, but IMO this company is heading down a path where ownership is still in question, and they certainly are not favoring the players making good money.
Basically ... GMER needs an enema .... IMO ... otherwise this public entity is not going to succeed like it should be allowed to do.
Bearish
AI
