Web3 Gaming’s Struggle—And What Comes Next
Taehoon Kim, founder of Spekter Games, doesn’t mince words when talking about the state of crypto gaming. “It’s not going that well,” he admits. We spoke about why so many projects fizzle out—and what might actually work.
His studio, backed by a16z, is behind *Spekter Agency*, a mobile roguelite battler with crypto elements playable through Telegram. But Kim’s bigger point isn’t about his own game. It’s about an industry that keeps making the same mistakes.
The “Same Movie Over and Over”
“Projects overpromised and under-delivered,” he says. “They attracted point farmers, not gamers.” The pattern was predictable: players showed up for token rewards, not gameplay. After the token launch, engagement spiked—then collapsed. “Everybody leaves because they’re not really there for the game,” Kim explains. “They’re attached to the reward.”
His solution? “We need games that are excellent.” Not just functional, not just monetized—actually good. That’s easier said than done, of course. But Kim thinks Telegram might be part of the answer.
Why Telegram Changes the Game
Telegram’s “mini apps” make distribution frictionless, Kim argues. Players can invite friends with a tap, and payments via Telegram Stars simplify transactions. “It’s the main reason I founded Spekter Games,” he says. The platform supports both free-to-play Web2 models and Web3 elements—without forcing players into crypto upfront.
Spekter’s approach is notably restrained. Unlike many crypto games, they’re avoiding multiple tokens or heavy onchain mechanics. “We don’t want complications,” Kim says. Most gameplay stays offchain; only rewards (like skins or PFPs) touch the blockchain. “Our games are like Web2 free-to-play titles. They’re not token-gated.”
A Different Kind of Reward System
Instead of flooding players with tokens, Spekter uses “Sparks”—reward points earned through gameplay or referrals. These can later convert into a unified token, but Kim compares it to airline miles or credit card points. “It’s about status, not stats,” he explains. The goal? Keep the focus on fun, not speculation.
It’s a cautious take on Web3 gaming—one that acknowledges past failures. Whether it works, well, that’s another question. But after so many hype cycles, maybe a little restraint isn’t such a bad thing.
