How Thousands TV plans to disrupt crypto-based distribution
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TLDR :
Wildcard and Thousands raised $6.5M
Slime Miner: 13M players + $2M monthly revenue
Uptopia raises $4M
🗞️ NEWS
WILDCARD AND THOUSANDS RAISED $6.5M
Wildcard and Thousands TV announced they have raised $6.5M, with another $2.5M to be closed in the next few months. The round was co-led by Arbitrum Gaming Ventures and Paradigm
This new funding round will be used to accelerate the development of their product offering
In 2022, Wildcard raised $46M in a Series A. Paradigm invested in this round as well, and Polygon and Griffin Gaming Partners were involved
We know, almost 100% (except LPs) of Wildcard’s tokens will be owned by the community. So, I assume they sold more equity here, or a stake in the token for Thousands TV, perhaps
Last month, Wildcard announced its migration to Arbitrum
The Thousands Network is a platform where streaming and crypto functionality come together. It aims to unlock new channels of creator-based distribution, and to create new onchain rails to record and reward UA and conversion through the whole funnel
The vision is to make games “just as fun to watch as it is to play”
Thousands recorded $800,000 in revenue in May 2025, through its Exhibition streams (there have been 35 in total), with an average of $50,000 per show, a viewer-to-payer conversion of 77%, and average revenue per viewer of $141
The numbers are impressive. However, they are likely also inflated due to the upcoming $WC airdrop (think: spend 2 earn more)
So far, we have seen the shows not only cover Wildcard, but also different crypto games such as Sparkball, Farcade, and Pirate Nation
Currently, there’s more innovation happening on the distribution side, like the emergence of InfoFi. However, these top-of-funnel content platforms (e.g., Kaito) generate impressions but barely convert. The Loudio experiment illustrated this
So, it will be interesting to see how Thousands scales and becomes the platform that rewards creators for more meaningful (conversion-driven) content, deeper in the funnel
Particularly, I am also curious about how the platform will continue to capture top-of-funnel mindshare, as streaming itself lives in the middle of the funnel
Lastly, Pump.fun has been investing more in its streaming functionality. And it’s interesting to see how streaming x a live token creates a new layer of engagement beyond just watching
SLIME MINER: 13M PLAYERS AND $2M MONTHLY REV
Slime Miner has become the most popular app on Kaia (the LINE-based blockchain). The app achieved more than 13M players and a monthly revenue of over $2M
Since March, the app has consistently ranked among Kaia’s top apps
The mining-based idle RPG launched last January. Players can earn KAIA tokens and Cosmo items by participating in missions and community challenges
70% of Kaia’s dApp revenue is driven by Slime Miner’s Payback Promotion
A promotion that handed out 1200 yen worth of in-game items for free, and by buying 49 KAIA, players could immediately recover their in-game purchase
Furthermore, there’s an ongoing P2A campaign that will lead up to the upcoming Slime token launch in Q3 or Q4 this year. 50% of the tokens will be allocated to the community
The team has plans to integrate this token across its multiple future games. In 2026, they aim to integrate the Slime Universe Game Center, featuring various titles
Similar to Catizen’s Game Center approach
Now, the game has plans to expand its presence to other platforms, including Google Play, the App Store, and TON on Telegram
On the topic of Telegram, these high player and revenue numbers seem reminiscent of last year’s TG-gaming craze. And we all know what happened to these games post-TGE…
Elderglade, one of the other largest games on Kaia, held its TGE around 3 weeks ago, and the ELDE token has already lost 83%+ of its value
This is a clear indicator that the majority of the audience is merely there to “extract”. But, it’s also no surprise, considering Kaia uses earning as one of their larger value props in their marketing material
Examples: “Play the games now and earn big profits,” and “user profit total $3.9M!”
Other big titles on the chain include Larva Survival, Fate War, Boxing Star X, and Keito Kun. Mostly (hyper)casual games, just like TG
What’s interesting here is that these games have a much smaller presence on Twitter than the TG games had
I assume the reason is that the audiences are primarily Japanese (LINE is widely used in Japan), who generally use other channels for crypto
UPTOPIA RAISES $4M
Just 2 days ago, Uptopia announced they raised $4M in a pre-seed round led by Pantera Capital, with participation from Spartan, Coinbase, and others
Uptopia is a launchpad and discovery platform for games, aiming to disrupt distribution with onchain discoverability (via game coins)
Game coins serve as social discovery tools and community builders, acting as both the entry point and identity layer for the game, enabling the flywheel of attention → value → attention
"The game is the coin and the coin is the game”: is telling of how gameplay and token mechanics will be intertwined
About a month ago, Uptopia launched “The Factory” on Base, the beta for its Arcade Zone
The Arcade Zone features 50+ games (mostly casual), a Moon Mission tab that features its airdrop system, and a launchpad, with its first token launch starting in ~5 days
In a way, it feels reminiscent of B3, another casual game platform on Base (from a high level). I do have my reservations about these games moving the needle and players forming communities around them…
These reservations also stem from the financially motivated audience that will be playing these games (if they decide to go Web3-only). So, I am curious whether there are plans for a Web2 (mobile) GTM strategy
Every distribution platform relies on attracting the right content (games) to build its user base. This is especially true if they don't expand into a platform through their own content, which is often the case (unless you’re Wildcard)
I feel like I am making this same comment every other week at this point…
FLASH NEWS
EDEN Holdings partners with Virtuals, with plans to launch multiple agents
Pudgy Penguins is hiring a new gaming lead for browser-based products
B3.fun acquires Andromeda Insights, a crypto-enabled gaming PC
Uprising announces its UPR token and releases its tokenomics
Ronin launches its ecosystem directory (similar to Abstract’s portal)
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