How might Skillz improve its in-game currency system to increase player engagement and retention?

Introduction

To improve Skillz's in-game currency system for increased player engagement and retention, we need to analyze the current system, identify pain points, and propose innovative solutions. I'll focus on understanding user behavior, optimizing the currency economy, and enhancing the overall player experience. Let's dive into this challenge systematically.

Step 1

Clarifying Questions (5 mins)

• Looking at Skillz's position in the competitive gaming market, I'm curious about our current user base and retention rates. Could you share some insights on our average user lifetime and churn rate compared to industry standards?

Why it matters: This helps us understand if we need to focus more on acquisition or retention strategies. Expected answer: Below industry average retention, with high early-stage churn. Impact on approach: Would prioritize early engagement and "hook" mechanics in the currency system.

• Considering the variety of games on the Skillz platform, I'm wondering about the consistency of the currency system across different titles. How standardized is our current in-game currency approach across the platform?

Why it matters: Determines if we need a unified currency strategy or game-specific solutions. Expected answer: Varied implementation across games, leading to user confusion. Impact on approach: Would focus on creating a cohesive, platform-wide currency ecosystem.

• Given the competitive nature of Skillz games, I'm interested in understanding the balance between skill-based rewards and purchasable currency. What's the current ratio of earned vs. purchased currency in our ecosystem?

Why it matters: Helps us maintain competitive integrity while optimizing monetization. Expected answer: Roughly 70% earned, 30% purchased, with concerns about "pay-to-win" perceptions. Impact on approach: Would explore ways to increase perceived value of purchased currency without compromising fair play.

• Considering recent trends in gaming, I'm curious about our plans for blockchain or NFT integration. Are we exploring any Web3 technologies for our currency system?

Why it matters: Could open up new opportunities for player ownership and cross-game value. Expected answer: Early exploration stage, no concrete plans yet. Impact on approach: Would consider future-proofing our solution for potential blockchain integration.