The core of entrepreneurship is not the needs of investors, but the needs of the industry.

About GokuShow

GokuShow is a program dedicated to interviewing Web3 entrepreneurs, initiated by Web3 blogger Gouge (@Gokunocool), aiming to provide a stage for all Web3 entrepreneurs to showcase themselves, understand their stories, and create a warm program.

Video link: https://x.com/gokunocool/status/1753415876278378694?s=20

Host: GoKu Gouge https://twitter.com/gokunocool

Guest: Saku https://twitter.com/saku_Web3

Project Matr1x: https://twitter.com/Matr1xOfficial

Matr1x, which raised a total of $20 million in funding in 2022 and 2023, is a Web3 entertainment platform that upgrades the Matr1x brand through self-developed high-quality games or cooperation with third parties, game IP development cooperation, and global esports events. This includes three large games with a unified worldview, Matr1x FIRE (first-person shooter game), Matr1x WAR (shooting + MMORPG), and Matr1x EVOLUTION (SOC), to interpret its grand trilogy of games (cyber earth - Mars immigration - interstellar exploration).

Matr1x has been highly anticipated since its inception, and its financing background is also star-studded, including joint lead investments from Folius Ventures and SevenX, as well as investments from ABCDE Capital, Jambo, Initiate Capital, and Find Satoshi Lab. ABCDE believes that Matr1x is a phenomenon-level Gamefi work, similar to the next Axie/StepN, and can truly promote the breakthrough and mass adoption of Web3.

As an old friend of GoKu, the first episode of GoKuShow invited its founder Saku. He is a non-typical Web3 entrepreneur, transitioning from a gaming expert at a Web2 giant to envisioning a project that breaks through the industry's ceiling. Saku showcased the ambition, persistence, and far-sighted vision of a founder. Perhaps breaking away from the stereotypical thinking of a Web3 gaming entrepreneur will bring a different understanding.

Highlights:

• Web3 is the only opportunity for this generation of young people to overtake in the curve

• Everything done is to solve problems, solve problems under a business model, and then discover opportunities

• To be first, only the first has a chance! Apart from the first, there is no opportunity

• Use change to respond to all changes

• As long as the cake is big enough, the interests of investors, community, and team are all balanced

• Failure is not the mother of success, success is the mother of success

• Do not set limits, Matr1x's ceiling is to change and integrate the industry's track ecosystem

• Maintain an "anti-fragile" mentality, after touching the bottom, all that remains is upward opportunities

• The core of entrepreneurship is not the needs of investors, but the needs of the industry

The following content is from the GokuShow interview live broadcast:

I. From Senior Gaming at Giant Corporations to Entering the Web3 Entertainment Ecosystem

Gouge: You were already very experienced in gaming at a Web2 giant before entering Web3 entrepreneurship. Can you share your previous entrepreneurial experience and why you chose to enter Web3 for entrepreneurship?

Saku: I started to get involved in cryptocurrencies in 2013, participating in projects such as Bitcoin and Litecoin. I developed a strong interest in the crypto industry and gaming, and participated in various blockchain games, DeFi, and NFT activities.

At the same time, I was working in game development and operations at a Web2 giant, laying the groundwork for my future entrepreneurship. My earliest entrepreneurial experience was running a platform for second-hand book recycling in school, with the desire to change the world. In 2018, I founded a gaming company for overseas markets, with a team size of 100-200 people, experiencing the process of starting from scratch, from renting offices, buying furniture, hiring people, to establishing financial systems, all on my own. Entrepreneurship is a process of starting from scratch, rebuilding everything step by step with the team. For me, entrepreneurship requires maintaining a calm mindset, focusing on solving problems, and discovering opportunities to ensure the team's survival. Everything we do is to solve problems under a business model, then discover opportunities, and keep the team alive. Matrix is gradually entering the public testing phase and planning to launch new products. I have full confidence in Matrix's development and will continue to build a complete Web3 ecosystem.

This time, the entrepreneurship of Matrix is also starting from scratch. Instead of calling Matrix a blockchain game, I prefer to see it as a Web3 entertainment platform, covering content such as IP and esports, and planning to build a complete Web3 ecosystem in the future, including entertainment products based on games, financial services, and technological services.

Gouge: Before you started Web3 entrepreneurship, your overseas gaming project was already quite successful. What prompted you to enter the Web3 circle?

Saku: Joining the Web3 industry is an opportunity to prove oneself and a chance for young people to seek breakthroughs. Entrepreneurs should actively explore unknown fields and adapt to the situation, doing what others dare not do or do not yet understand, as this is an important way to achieve success.

II. Adapting to Change, Only Pursuing the Top Position

Gouge: Initially, you may have been an investor, continuously paying attention to the industry in a passive manner and possibly gaining some returns through investments, but later you joined in the construction of the industry. What do you like and dislike most about this industry?

Saku: This is a very good question. Let me first talk about what I like the most. As the industry changes very rapidly, and I am a Gemini, I like fresh and exciting things. This industry has many possibilities, with a new hot topic emerging every two months, bringing us opportunities and potential. Therefore, this industry is very suitable for young people. Chatting in the community every day, there is always the next opportunity waiting for us, and we need to learn new knowledge every day. I am never tired of this, and this is what I like the most. Every change can be incorporated into the Matrix system, which makes me believe in the huge potential of Matrix's future. The key is that we are not sure what to do, to some extent, we act according to the industry's needs, and our development potential is unlimited. This feeling is about not setting limits for oneself. Imagine if a person reaches the peak in this industry, they may feel that further efforts are meaningless. Therefore, the interesting thing about this industry is that if you are not careful, newcomers will surpass you.

Gouge: Recently, I saw a high-quality shooting game, and at that time, I was a little worried about Matrix. But later, I found that Matrix was actually different from what I saw a few months ago. You have been constantly changing and improving, introducing many new concepts, making the platform completely new, and changing every day.

Saku: This is the only way, to use change to respond to all constants.

Gouge: From a marketing perspective, how do you avoid being caught up by others when you become the leader? I think Matrix may be playing a defensive game now, and defense may be the best offense. As long as the barriers are high enough, it is very difficult for others to catch up, which is why I only play the first, not the second, and I don't even look at the third.

Saku: Our internal motto is "to be first", only pursuing the top position. In this industry, apart from the top position, other projects actually have no chance at all. The financial industry is the same, the top position in exchanges is several tens or even hundreds of times larger than the second position. The top position is the only one, and the team must have the pursuit of "I am the top position, I want to be the top position", otherwise it is very easy to be eliminated.

Gouge: I have recently been trying to regain this state: I want to do something, and I want to do it the best in the industry. You just mentioned your favorite aspects, so when you transitioned from web2 gaming, were there any aspects of Web3 that made you dissatisfied?

III. Hoping for More Recognition of Web3, Striving to Advocate for the Industry

Saku: When playing various tracks, our biggest concern is security. Playing with dogs, rushing inscriptions, and grabbing airdrops all require a sense of security and happiness. These are two concepts we have put forward in operating the community. Web3 investments would be very bad without a sense of security. When participating in projects, we are worried about projects running away or assets being stolen, leading to a lack of trust in the industry. This means we cannot work in the open. Therefore, whether participating in projects or creating projects, bringing a sense of security to the community is the most important thing.

In addition, we have noticed that many people refer to it as the "coin circle" or the "cutting leeks land", which has had a very negative impact on the Web3 industry. We hope to gain more recognition, prove that we have technology, consensus, and applications. Although Web3 is still in its early stages, we hope to create substantial value for the industry and create a significant story in its global historical development. For those involved in the industry, such as miners, we hope they no longer feel professional shame, but can represent the Web3 industry openly. We hope we can better advocate for our industry.

In short, we hope to bring a sense of security and trust to the Web3 industry, allowing more people to understand and recognize the industry.

IV. Continuously Creating Value, Making Capital, Team, and Community Satisfied

Gouge: The financing lineup for Matrix is particularly luxurious. How do you balance the interests of investors, the team, and the community?

Saku: We realize that everyone will only be satisfied when the cake is big enough. But this is very difficult because it is difficult to distribute the cake in a way that is fair to everyone. Therefore, our only way is to continuously create value to demonstrate the potential of the team.

From the beginning, we saw the shortcomings of certain games and wanted to change this situation. We found that we could expand this space into a Web3 entertainment platform, which not only includes games themselves but also aspects such as IP, esports, and public chains. We want everyone to realize that the entertainment system of this industry can be achieved through the application layer, breaking through the ceiling of the entire industry. We are trying to do something that has never been attempted before, and what is truly valuable is the deep integration of Web2 and Web3 technologies. Therefore, our space has become larger. We are building a Web3 entertainment platform that can accommodate all content and entertainment-related content.

In the process of implementation, the greater your value, the more everyone, whether users, investors, teams, or communities, can enjoy the greatest dividends. Therefore, you need to balance this issue, and the only way is to persist in making this thing bigger. We issue NFTs without thinking about profiting from NFTs, and even the money earned in the game will be reinvested in the market to maintain economies of scale and volume. This cake forms a closed loop, and the income generated within it will be reinvested into the system, generating more income. If any link in the team, investors, games, or community has a problem, conflicts will arise. Therefore, we need to spend time solving these problems to ensure that the team continues to create value. We will not issue tokens and then run away, but hope to work in the open. In short, we continuously create value to ensure that everyone gains greater returns.

Gouge: Every time I communicate with you, I feel that I have made a lot of progress. First, we need to set high goals. Second, the team itself needs to have ambition and adhere to long-termism. For example, the income of Axie once surpassed Honor of Kings, but it was not sustainable, which is the difference between long-term and short-term teams. Finally, the founder needs to clarify their own goals and not be influenced by the market or investors.

Saku: Are you asking how to deal with this issue when investors give their opinions? Because our team changes very quickly, we often take the initiative to share our progress with investors. But they have not fully understood, and we have launched new things. Fortunately, investors are very supportive of us, and so far, they have almost not intervened in our operations.

Gouge: I remember the first time we chatted, you told me how Stepn used the App Store to pay for shoes, and I was shocked because he used a non-Web3 method to solve a Web3 problem. Later, I became interested in the concept of "intent-centered", and I think Matrix's approach is the same, focusing more on the IP of Web3 assets and putting tokens, gameplay models, etc., at the center of the user.

Saku: Yes, fundamentally, users should feel secure and happy when playing games. If you are constantly calculating the return on investment in the game, it will make people feel anxious.

Gouge: Was your financing smooth?

Saku: It was not smooth at the beginning. The key to investment lies in talent and potential. We encountered many setbacks in the initial stage, and there was a lot of skepticism about Web3. In addition, the gaming industry also raised issues because it was filled with failed cases at the time, leading to biases. Investors were skeptical because the industry focuses on investment and finance, which many people find difficult to understand. Therefore, the initial financing was not smooth, and we could not prove ourselves. There is a term called "anti-fragile", we were completely negative at the beginning, already in a trough, and the only way is to go up next, just like a hook shape, we are similar to it. We started financing in October 2021 and it took several months to raise funds. If you are a star team, have experience and a desire to make money, and the track you are in is very good, then financing will be very easy. But at that time, the concept of blockchain games was forward-looking, and it was just about to enter a bear market, so I think choosing the right timing is very important. You should raise funds when you are at your peak, not when you are at your lowest. For example, now Matrix is doing very well and must seek financing, do not repair the roof when it is raining.

Gouge: Do you think investor relations and these things are important? For example, it may be because you know someone, and they will recommend each other. But the core premise is that the product, people, and team must be good for them to recommend each other.

Saku: The premise of investors giving you money is that you have to make money for them, and the way to make money is whether it is sustainable and whether it can bring something other than money. Therefore, maintaining a good reputation and good investor relations is very important. You need to show them the infinite possibilities in you. We have someone on the team specifically doing this.

Gouge: Many people say that the next step for star entrepreneurs is to start a fund. The difference between first-line entrepreneurs' funds and investment funds is very different. I am curious, as a star entrepreneur, if you become an investor in the future, what kind of projects would you invest in?

Saku: I might invest in level 1 (lumo), 1.5, and level 2 together. I think the core logic of investing in projects is threefold. First, whether the story and track are attractive. No matter how hard and excellent a person is, if the direction chosen is wrong, they may not achieve any results. For example, it is very difficult to come out and make a mobile phone now, but it is different to make a Web3 mobile phone, the track is very important.

Secondly, it depends on the people. People with project experience have their own unique logic when doing things. People who have done Web3 projects have a different understanding of the market, users, investors, and trading, especially in trading, understanding how to handle liquidity, prices, and market cooperation. I have seen a case before, where the top 150 entrepreneurs in the token market transformed into fund managers and earned high returns, they have a strong sense of acumen. Finally, it depends on whether the team has influence and the ability to gather a hundred people. Observing the founder's past record and reputation is equivalent to people in the market voting to verify their time and energy, such people must have unique charm. We should not say that failure is the mother of success, in fact, success is the mother of success.

Gouge: What are Matrix's plans for the future? Will it be listed in the future?

Saku: This question is quite sensitive, but we are indeed working hard towards this direction, planning and promoting this matter, but the final announcement is the main thing.

Gouge: What do you think the future form of Web3 games will be like?

Saku: The Web3 gaming and application layer are entering an important period. The most important factor for a successful track is that everyone wants it to succeed. Now that funds are pouring in and the technological logic is in place, it's like going back to the questioning stage of the mobile internet in 2013, but we know that with the continuous launch of products, the mobile internet has grown and strengthened.

Similarly, Web3 gaming is seen as a key area for large-scale applications. Whether it's Binance, OKex, or reports from other institutions, the application layer is seen as a very important investment track for 2024-25. Investors can start with specific projects or tools related to the track (such as game engines, advertisers, distribution channels).

Gouge: What do you think of the blockchain gaming community? For example, the distribution platform for blockchain games.

Saku: I think the blockchain gaming community is very good. I have had exchanges with many teams that are involved in blockchain gaming and live streaming. This is a completely new field, and the key is who can have the energy and courage to build it into a market. Only in this way can the industry be driven forward. In my opinion, there is an opportunity in any category, and the key is who can effectively control it.

Gouge: You are right, because of the existence of digital currency and the island effect, but now digital currency is gradually converging with fiat currency. ETF access, custody licenses, and so on have made the channels between fiat and digital currency more similar, while PWA technology can help Web3 technology more easily enter the mobile market, bringing in more traffic. The rest will need to rely on the cooperation of law and institutions to achieve.

GoKuShow is recruiting interesting and informative Web3 entrepreneurs, please contact GoKu: GokuNoCool (search WeChat)

[Disclaimer] The market is risky, and investment should be cautious. This article does not constitute investment advice, and users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific situation. Investing based on this, is at your own risk.

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