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← GameMakers16 jun · 1 u 58 min

Own Your Players, Don't Rent Them — D2C, Creator Codes & the Shadow Server Economy | Liam Wiltshire, GM of Tebex

Own Your Players, Don't Rent Them — D2C, Creator Codes & the Shadow Server Economy | Liam Wiltshire, GM of Tebex16 jun1 u 58 min

<p>Epic spent five years and over $100M breaking the platforms&#39; 30% tax — then cut V-Bucks by 20% to &quot;pay the bills.&quot; If the company that <em>won</em> the fee war still gets squeezed, what does that say about everyone else?</p><p>The answer isn&#39;t about fees. When AI makes content infinite and attention stays finite, the only asset that appreciates is the direct relationship with your players — the one distribution channel that gets <em>cheaper</em> the stronger it gets. And a nearly invisible economy of community-run game servers has been proving its dollar value for fifteen years.</p><p>I sit down with Liam Wiltshire, GM of Tebex — the merchant-of-record platform behind direct payments for Rockstar, Take-Two, Hytale, and FiveM — to unpack it.</p><p>In this episode:</p><ul><li>Why &quot;is 30% dead?&quot; is the wrong question</li><li>Creator codes: how trust drives 50–227% more spend</li><li>The BNPL and crypto data that surprised even Tebex</li><li>Why 35% of desktop game purchases happen on a phone</li><li>How Hytale launched <em>off Steam</em> and secured two years of runway from pre-orders alone</li><li>The £20, 16-year-old origin story behind a company that&#39;s processed $1.5B</li></ul><p>Read the full breakdown and subscribe at gamemakers.com.</p><p>Chapters<br>00:00 — Epic cut V-Bucks: why it&#39;s really a margin story<br>03:47 — When content is infinite, what&#39;s actually scarce?<br>07:38 — The shadow games industry: Hypixel, FiveM &amp; a $1.5B economy<br>10:13 — The data: creator codes, BNPL &amp; buying on a second screen<br>13:33 — Liam Wiltshire joins: the state of the industry<br>16:35 — Why every player purchase is a &quot;CapEx decision&quot;<br>18:50 — Is the 30% platform fee dead?<br>21:00 — Who really owns the player relationship?<br>23:27 — D2C across mobile, web, PC &amp; console<br>34:59 — Treating the platform as an acquisition channel<br>42:57 — UGC servers &amp; what a &quot;merchant of record&quot; actually does<br>1:00:40 — Creator codes: how trust drives more spend<br>1:19:04 — BNPL &amp; crypto: the numbers that surprised Tebex<br>1:31:20 — Payment optimization &amp; one-click checkout<br>1:40:43 — The £20 origin story &amp; the $29M exit</p><p><br></p>