The Crab Report (May 21 - 27)
Hello again, fellow Crabadians. It has been another busy week so let’s get to it.
TUS
There’s no better way to put it: the TUS price action has been horrendous. Every day we continue to hit all-time-lows. How low can we go? I have no idea how low we go. We’re in a bear market and the macro environment looks pretty bad. However, for all those inflation hawks, if you look at the most recent inflation data via Crabada Tracker, we have seen emissions come down significantly as Idle Game rewards have been reduced by 30% and people are transferring to Battle Game (which has more TUS sinks). Another interesting stat is that even though total breeding fees have been declining, breeding fees as a % of emissions have actually been going up over the past couple of weeks (up to 91% from a recent low of 46% on May 9th). So why has the price been tanking every day? Maybe it’s a lack of buyers. Or perhaps it’s due to a liquidity pool that’s so paper thin that even a light breeze causes slippage. Maybe it’s Putin’s fault. We cannot blame the crabs though.
Battle Game
Here are two video links to help you get started on Battle Game:
We have also received more info from Crabada about how many current Battle Game players there are and how far they have journeyed into Adventure Mode.
Game Changes
The team announced changes to breeding and gameplay (Medium article here).
Breeding Changes:
$CRA will be removed as a required component for Breeding.
$TUS cost for breeding will be revised.
In a v3 implementation that is currently being planned, Breeding will also require the use of Materials that can be used to influence breeding outcomes.
New Game Content:
Friend v Friend Feature (first week of June)
Players Quality of Life (QoL) Features:
Speed up Battles
Batch Feeding
Preset Mining Team Formations
Inflation
The recent changes to Idle Game rewards and the switch to BG appears to be trending inflation down from a recent high of 4.4% on April 15th to just 0.11% as of yesterday (May 26th). Data courtesy of Crabada Tracker.
Daily Active Users
Daily Active Users (DAU) are now being broken up into Battle Game and Idle Game. We saw a 9.41% decrease in DAU from the Idle Game. It’s unclear how much of that decline is users switching from Idle Game to Battle Game or just leaving the game. DAU for Battle Game came in at 2,236 (on May 23rd) but we received more recent numbers on May 25th that total players is at 4,974 - we’ll be watching this number closely in the coming weeks. Surprisingly DAU for the marketplace spiked 42.4% perhaps due to crabs being much cheaper.
Voyage Finance
Crabada has officially partnered with Voyage Finance to help players finance crabs through debt funding.
Tweet of the Week
Great breakdown of BG vs IG by @smugtoaster_ this week
Rainmaker Games AMA
Rainmaker Games did an AMA with the Crabada team (Crypt0xcar). I didn’t hear any new juicy alpha on the call. You can find the recording here.
Crab Radio
This week’s special guest on Crab Radio was Snowsledge from Voyage Finance.
Voyage Finance is a lending platform for play-to-earn games and started its journey in January of this year.
Essentially guilds will make a down payment which they can borrow 3x against in order to purchase more in-game assets. The payback periods is 3 months.
Wangarian originally introduced Voyage to the Crabada team.
Every 30 days there is a loan payment. If the loan is paid off, you are able to keep the asset. If you miss a loan payment, you have a 14-day grace period. If you cannot pay after the grace period, your assets are liquidated and your down payment is confiscated.
In addition to borrowing, players/investors can lend via the Voyage platform and get a % return (~10%).
Voyage is starting off with guilds but would like to eventually expand to retail investors.
Voyage is projected to launch in Q3.
Teams are still building but the tokenomics will need to be adjusted.
Should CRAM stay or go? Currently causing friction with the high cost of discipleships.
Unclear how well discipleships are doing since earnings are so low.
Guilds are starting to show increased interest in the game now that crab prices have come down significantly.
That’s all for this week. Looks like the team is still iterating and building. It’s a shame the price action is so depressing. Swimmer Network is just a few weeks old so we still have yet to hear any official news on new games launching. Removing some of the friction for onboarding to BG will be key if this game wants to succeed. The team has acknowledged this and I’m sure is working insane hours to solve the issue.
#snibsnib
@deepinthesesh