According to @0xferg, Apple generates more annual revenue from its up to 30 percent App Store commission than Netflix produces in total revenue, and mobile gaming is the largest entertainment category growing about 10 percent year over year. Source: @0xferg. For traders, this datapoint underscores AAPL’s Services leverage versus NFLX and the importance of iOS distribution economics for web3 gaming platforms such as Immutable’s IMX ecosystem, making App Store fees and policy shifts a meaningful micro-catalyst to watch for GameFi adoption. Sources: @0xferg and Immutable.