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Sep 2, 2017 · 22m · top-founders

770: Crypto: He Has Third Largest ICO Ever With $53m Raised

Sergey Sholom · 11m spoken Nathan Latka · 9m spoken
0:00 / 0:00

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In this episode of "The Top," host Nathan Latka interviews Datcroft Games founder Sergey Sholom about executing a record-setting $53 million MobileGo ICO and his mission to disrupt mobile app store monopolies by returning 90% of revenue to game developers through blockchain technology.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 45.1% of the talking time here. How this is scored →

Nathan as informed peer 5.2 Guest teaching 4.0 Guest disagreement 3.8 Nathan pushing back 5.2
05100:0010:0020:001:41–4:23 · Nathan as informed peer 4/10 Introducing Sergey Sholom and Datcroft Games Nathan interrupts Sergey's pivot toward future visionary crypto promises to ground the interview in Datcroft's historical track record. Sergey tries to deflect talking about past company history, but complies once pressed.4:23–8:44 · Nathan as informed peer 5/10 Datcroft's Monetization, Revenue, and Platform Shift Nathan cuts Sergey off when Sergey begins to dodge revenue figures by claiming he does not count dollars like other entrepreneurs. Nathan pushes hard for an exact figure, forcing Sergey to admit to an 8-figure revenue range.8:45–11:53 · Nathan as informed peer 5/10 App Store Disruption and Target Market Strategy Nathan questions how Sergey's store can compete with Apple and Google app discovery mechanisms. Sergey pushes back, arguing that app store featuring is secondary to paid marketing and that crypto creates a superior developer ROI.11:54–17:16 · Nathan as informed peer 6/10 MobileGo Crowdsale and Crypto Gaming Ecosystem Nathan drills into mechanics of turning crypto raises into fiat ad spend and the equity implications of token issuance. Sergey explains the crowdsale dynamics and utility token structure across GameCredits and MobileGo.17:16–18:37 · Nathan as informed peer 6/10 Monopoly Resistance and Non-Profit Ecosystem Philosophy Nathan sharply challenges why Apple or Google would not undercut the store themselves and rejects Sergey's initial answer. Sergey forcefully argues that incumbent tech giants are constrained by for-profit corporate structures while his platform operates as a non-profit ecosystem.1:41–4:23 · Guest teaching 2/10 Introducing Sergey Sholom and Datcroft Games Nathan interrupts Sergey's pivot toward future visionary crypto promises to ground the interview in Datcroft's historical track record. Sergey tries to deflect talking about past company history, but complies once pressed.4:23–8:44 · Guest teaching 3/10 Datcroft's Monetization, Revenue, and Platform Shift Nathan cuts Sergey off when Sergey begins to dodge revenue figures by claiming he does not count dollars like other entrepreneurs. Nathan pushes hard for an exact figure, forcing Sergey to admit to an 8-figure revenue range.8:45–11:53 · Guest teaching 5/10 App Store Disruption and Target Market Strategy Nathan questions how Sergey's store can compete with Apple and Google app discovery mechanisms. Sergey pushes back, arguing that app store featuring is secondary to paid marketing and that crypto creates a superior developer ROI.11:54–17:16 · Guest teaching 5/10 MobileGo Crowdsale and Crypto Gaming Ecosystem Nathan drills into mechanics of turning crypto raises into fiat ad spend and the equity implications of token issuance. Sergey explains the crowdsale dynamics and utility token structure across GameCredits and MobileGo.17:16–18:37 · Guest teaching 5/10 Monopoly Resistance and Non-Profit Ecosystem Philosophy Nathan sharply challenges why Apple or Google would not undercut the store themselves and rejects Sergey's initial answer. Sergey forcefully argues that incumbent tech giants are constrained by for-profit corporate structures while his platform operates as a non-profit ecosystem.1:41–4:23 · Guest disagreement 3/10 Introducing Sergey Sholom and Datcroft Games Nathan interrupts Sergey's pivot toward future visionary crypto promises to ground the interview in Datcroft's historical track record. Sergey tries to deflect talking about past company history, but complies once pressed.4:23–8:44 · Guest disagreement 4/10 Datcroft's Monetization, Revenue, and Platform Shift Nathan cuts Sergey off when Sergey begins to dodge revenue figures by claiming he does not count dollars like other entrepreneurs. Nathan pushes hard for an exact figure, forcing Sergey to admit to an 8-figure revenue range.8:45–11:53 · Guest disagreement 4/10 App Store Disruption and Target Market Strategy Nathan questions how Sergey's store can compete with Apple and Google app discovery mechanisms. Sergey pushes back, arguing that app store featuring is secondary to paid marketing and that crypto creates a superior developer ROI.11:54–17:16 · Guest disagreement 3/10 MobileGo Crowdsale and Crypto Gaming Ecosystem Nathan drills into mechanics of turning crypto raises into fiat ad spend and the equity implications of token issuance. Sergey explains the crowdsale dynamics and utility token structure across GameCredits and MobileGo.17:16–18:37 · Guest disagreement 5/10 Monopoly Resistance and Non-Profit Ecosystem Philosophy Nathan sharply challenges why Apple or Google would not undercut the store themselves and rejects Sergey's initial answer. Sergey forcefully argues that incumbent tech giants are constrained by for-profit corporate structures while his platform operates as a non-profit ecosystem.1:41–4:23 · Nathan pushing back 4/10 Introducing Sergey Sholom and Datcroft Games Nathan interrupts Sergey's pivot toward future visionary crypto promises to ground the interview in Datcroft's historical track record. Sergey tries to deflect talking about past company history, but complies once pressed.4:23–8:44 · Nathan pushing back 6/10 Datcroft's Monetization, Revenue, and Platform Shift Nathan cuts Sergey off when Sergey begins to dodge revenue figures by claiming he does not count dollars like other entrepreneurs. Nathan pushes hard for an exact figure, forcing Sergey to admit to an 8-figure revenue range.8:45–11:53 · Nathan pushing back 5/10 App Store Disruption and Target Market Strategy Nathan questions how Sergey's store can compete with Apple and Google app discovery mechanisms. Sergey pushes back, arguing that app store featuring is secondary to paid marketing and that crypto creates a superior developer ROI.11:54–17:16 · Nathan pushing back 4/10 MobileGo Crowdsale and Crypto Gaming Ecosystem Nathan drills into mechanics of turning crypto raises into fiat ad spend and the equity implications of token issuance. Sergey explains the crowdsale dynamics and utility token structure across GameCredits and MobileGo.17:16–18:37 · Nathan pushing back 7/10 Monopoly Resistance and Non-Profit Ecosystem Philosophy Nathan sharply challenges why Apple or Google would not undercut the store themselves and rejects Sergey's initial answer. Sergey forcefully argues that incumbent tech giants are constrained by for-profit corporate structures while his platform operates as a non-profit ecosystem.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 98.6% · guest 1.4%0:00 · Nathan 98.6% · guest 1.4%3:00 · Nathan 19.1% · guest 80.9%3:00 · Nathan 19.1% · guest 80.9%6:00 · Nathan 41.2% · guest 58.8%6:00 · Nathan 41.2% · guest 58.8%9:00 · Nathan 12.2% · guest 87.8%9:00 · Nathan 12.2% · guest 87.8%12:00 · Nathan 31.2% · guest 68.8%12:00 · Nathan 31.2% · guest 68.8%15:00 · Nathan 33.8% · guest 66.2%15:00 · Nathan 33.8% · guest 66.2%18:00 · Nathan 69.9% · guest 30.1%18:00 · Nathan 69.9% · guest 30.1%21:00 · Nathan 77.2% · guest 22.8%21:00 · Nathan 77.2% · guest 22.8%
Sharpest disagreement ▶ 17:45 Dismissal of for-profit business models

Sergey firmly rejects Nathan's framing that Apple and Google will copy them, asserting their profit-driven model inherently prevents them from giving 100% back to developers.

 Hardest push from Nathan ▶ 7:11 Host stops the guest from dodging revenue numbers

Nathan cuts Sergey off mid-sentence to call out his philosophical avoidance of revenue metrics and insists on getting hard financial figures.

 Biggest teaching moment ▶ 10:39 Educating on mobile UA reality vs store featuring

Sergey corrects Nathan's assumption about app store discovery, clarifying that organic app store features matter far less than heavy direct marketing spend.

 Nathan holds their own ▶ 17:24 Challenging platform competitive moats

Nathan pushes back against Sergey's evasion by re-framing the fundamental strategic risk of platform incumbents undercutting them.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Sergey Sholom and Datcroft Games 4234 Nathan interrupts Sergey's pivot toward future visionary crypto promises to ground the interview in Datcroft's historical track record. Sergey tries to deflect talking about past company history, but complies once pressed.
Datcroft's Monetization, Revenue, and Platform Shift 5346 Nathan cuts Sergey off when Sergey begins to dodge revenue figures by claiming he does not count dollars like other entrepreneurs. Nathan pushes hard for an exact figure, forcing Sergey to admit to an 8-figure revenue range.
App Store Disruption and Target Market Strategy 5545 Nathan questions how Sergey's store can compete with Apple and Google app discovery mechanisms. Sergey pushes back, arguing that app store featuring is secondary to paid marketing and that crypto creates a superior developer ROI.
MobileGo Crowdsale and Crypto Gaming Ecosystem 6534 Nathan drills into mechanics of turning crypto raises into fiat ad spend and the equity implications of token issuance. Sergey explains the crowdsale dynamics and utility token structure across GameCredits and MobileGo.
Monopoly Resistance and Non-Profit Ecosystem Philosophy 6557 Nathan sharply challenges why Apple or Google would not undercut the store themselves and rejects Sergey's initial answer. Sergey forcefully argues that incumbent tech giants are constrained by for-profit corporate structures while his platform operates as a non-profit ecosystem.

Statements from this episode (9)

Opinion
Sholom: Massive crypto hype overshadows lack of real-world blockchain use cases
“There is a really huge hype about everything that is connected to crypto and blockchain, but at the same time, we do not see many projects that is really using this technology.”
Sergey Sholom Sep 2, 2017 ▶ 3:04
Assertion Not checkable as stated
Sholom: About 5% of web game players make in-game purchases
“Well, approximately five percent of players buying something inside of web games.”
Sergey Sholom Sep 2, 2017 ▶ 4:42
Prediction Not checkable as stated
Sholom: Game developers will direct user acquisition to GameCredits over Google Play
“Somewhere in Google Play, all he's trying to do the same, but trying to lead his user to game credit store, then he will simply measure trying to compare the difference in return on investment, and when we will prove him that more revenue happens in our store,…”
Sergey Sholom Sep 2, 2017 ▶ 9:26
Insight
Sholom: App Store featuring matters less than spending millions on marketing
“It's at the end of the day, it's not that important if Apple featuring you or not, it's just additional bonus. Anyway, you have to run your marketing activities very heavily and Spend millions of dollars to get on the top of the charts.”
Sergey Sholom Sep 2, 2017 ▶ 10:41
Prediction Didn’t hold up
Sholom: GameCredits will acquire tens of millions of Indian users in 2017
“And then the marketing efforts that we will run because we're going to acquire Already this year, tens of millions of users in India.”
Sergey Sholom Sep 2, 2017 ▶ 11:13
Assertion Partly supported
Sholom: MobileGo raised $53M in May 2017 crowdsale
“It has happened this May and we've been raising fifty three million, which became number four result worldwide in crowd sales and number one result in crypto by that time. Right now, like we are in third place as far as I know.”
Sergey Sholom Sep 2, 2017 ▶ 12:45
Disclosure
MobileGo commits $26.5M of ICO proceeds to marketing
“We've been promising that half of money, so 26.5 millions, we will put on marketing, and that's exactly to answer your question, where from we will get millions of users.”
Sergey Sholom Sep 2, 2017 ▶ 13:13
Assertion Partly supported
Sholom: MobileGo had nearly 10,000 investors, more than any ICO
“We had almost 10,000 crypto investors. None, none other ICOs have that many. Usually it's like a couple of hundreds of big whales, and that's it. In our case, it's real crowdsale.”
Sergey Sholom Sep 2, 2017 ▶ 15:08
Disclosure
MobileGo operates non-profit, passing 100% of revenue to developers and gamers
“They are for profit companies. We are a non-profit company. We have only one goal to provide all 100% that are generated by the business to provide it to developers and to gamers. Yes? And a part of it even to charity. Yes? So, no profit we are going to get ou…”
Sergey Sholom Sep 2, 2017 ▶ 17:45
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