George Tsagkarakis
In Brief:
- Rapid Development: Mighty Bear Games, a Singapore-based studio, developed a new project within four weeks, engaging 130,000 users since its launch.
- High Returns: The GrabGifts project showcased a 171% return on ad spend in its first two weeks, significantly outperforming previous projects in user retention and acquisition costs.
- Expansion Plans: CEO Simon Davis announces plans to extend GrabGifts beyond Telegram, including web and other platforms, with new tokenized rewards.
Mighty Bear Games, a pioneering studio based in Singapore, is making significant strides in the gaming industry by utilizing advanced technology to swiftly develop web3 games tailored for Generation Z. The studio’s latest endeavor, the GrabGifts project on Telegram, was launched in just four weeks, emphasizing their commitment to rapid development and iterative testing. Since its launch in September, GrabGifts has attracted 130,000 users who participate in daily activities to win prizes, including digital collectibles and tokens like TON.
Despite low marketing costs — under 20 cents per activation — GrabGifts has already demonstrated considerable success. Comparatively, it has outperformed the studio’s previous Telegram-based game, GOAT Gaming, in terms of average revenue per user and user acquisition costs. According to Simon Davis, the CEO of Mighty Bear Games, the project’s success reaffirms the effectiveness of “VibeOps”, which involves small teams developing new games on a weekly basis. Davis shared his insights, stating, “GrabGifts proves two things. The first is that VibeOps works. The second is that TikTok-generation players want instant gratification and asymmetric upside – small stakes spent on potentially large prizes.”
Davis further emphasized that their strategy attracts genuine players rather than those who exploit the system for profits. “Without token giveaway promises, we attract players who actually want to play instead of rewarding farmers gaming the system,” he commented.
Looking forward, the studio plans to expand the availability of GrabGifts to other platforms, including the web, and to introduce new types of tokenized rewards. This expansion will start with tokenized Pokémon cards, followed by Magic: The Gathering and sports cards.
Highlighting the competitive advantage of rapid development, Davis remarked, “In gaming, speed and systematic experimentation beat large budgets and long planning cycles. Legacy studios are still debating features in year two of development. We’re shipping, testing, and iterating on 100+ game concepts in the same timeframe. This speed advantage is about market share.”
