According to @0xferg, Grand Theft Auto V has generated $10.2 billion in revenue compared to Bermuda’s $7.1 billion GDP, underscoring the outsized scale of game economies relative to small national economies, source: https://twitter.com/0xferg/status/2013372875667833317. According to @0xferg, market participants also underestimate how soon major studios will migrate onchain, framing a nearer-term adoption path for onchain gaming, source: https://twitter.com/0xferg/status/2013372875667833317. Separately, Coinbase stated it is helping bring Bermuda’s economy onchain with support from Circle, calling it the world’s first fully onchain national economy, source: https://x.com/coinbase/status/2013320967003779479. For traders, these verified reference points create concrete comparables to size the total addressable market for onchain gaming and national-scale onchain payments infrastructure, and to track adoption milestones tied to the Coinbase- and Circle-supported Bermuda rollout, sources: https://twitter.com/0xferg/status/2013372875667833317 and https://x.com/coinbase/status/2013320967003779479.