Ushering in Radical Change: Shibu Mathew on Immutable’s Vision for Web3 Gaming
Shibu Mathew, VP of Products at Immutable, brings over 20 years of experience in product management and software development to the table. With a background in programming and technical architecture, Shibu has successfully launched and scaled freemium versions of popular titles such as Star Wars, Tetris, and FIFA. We sat down with Shibu to discuss his transition from Web2 to Web3, identifying new market opportunities, and defining markets through iterative learning and experimentation.
Immutable’s Vision for Web3 Gaming
Immutable is a distributed ledger that enables anyone to create, trade, and play with digital assets on the Ethereum blockchain. Currently, the company is focused on gaming, a $270 billion industry where consumers spend money without any real ownership or control. Blockchain technology provides a mechanism for more power to game developers and consumers, eliminating central authorities and entities. In essence, the blockchain becomes the distributor, and the community is responsible for the roadmap, determining how the game evolves and influencing its economy.
Shibu’s Focus at Immutable
As VP of Products, Shibu is working on creating meaningful experiences for players. He believes that making games is a mix of creativity and science, requiring a deep understanding of what makes players stay engaged. Immutable’s definition of a successful game includes AAA core design, sustainability, and profitability. The company has already launched Gods Unchained and is preparing to launch Guild of Guardians, with several co-development efforts in the pipeline.
From Web2 to Web3
Shibu’s transition from Web2 to Web3 was inspired by the same signals he saw in freemium gaming about 10 years earlier. He believes that Web3 has the potential to empower consumers and create new opportunities for game developers. However, he notes that the economy isn’t completely tuned, and there’s still much to be figured out. Despite the challenges, Shibu is bullish on the space and expects a breakout hit within the next two years.
Defining Markets
Shibu’s approach to defining markets involves iterating, learning, and experimenting. He believes that there’s more that you don’t know than what you do know, and that building a cumulative learning experience is key. Shibu looks for areas with buzz and signals that indicate mass adoption is about to start. He also emphasizes the importance of identifying top problems to solve and prioritizing them.
Experimentation and Prioritization
Shibu’s experimentation process involves identifying top problems, prioritizing them, and then investigating and implementing solutions. He believes in getting distance from ideas and solutions and ensuring a wide variety of ideas from a diverse group of people. Shibu also emphasizes the importance of tactical experimentation, such as quantitatively driven experiments to improve first-time user experience.
Scaling the Product Organization
Shibu believes that the product function is crucial in Web3 companies, especially as they scale. He notes that the founder’s role evolves from building the initial experiment to managing the company, and that’s when a product leader is needed to execute the vision. As the business grows, the product function scales, and product leaders must validate that what’s being built is the right product.
Attributes of a Successful Product Manager
Shibu looks for product managers with a strong sense of ownership, urgency, and honesty. He believes that these attributes are essential for success in an early-stage company where roles are not well-defined. While skills like product craft and domain knowledge are important, they can be taught. Motivation, urgency, and honesty are harder to teach and are critical for delivering value.
A Final Question
Shibu’s all-time favorite game is Heroes of Might and Magic, a resource management game that requires thinking and strategizing. He still plays it from time to time, enjoying the challenge and complexity it presents.