Lessons in Web3 Game Finance from Mihee Park’s Journey — Zilliqa, Big Time, and Open Loot

As Web3 gaming continues to evolve from an experimental frontier to an investable category, few voices carry the cross-functional credibility of Mihee Park, CFO at Big Time Studios – the creator of Open Loot, the leading Web 3 game distribution platform, and Big Time, the flagship AAA ARPG Web 3 game, and formerly CFO at Zilliqa . Having led at protocol-layer platforms like Zilliqa , transitioned to studio-level operations at Big Time Studios , Park has developed a rare perspective on how operational leadership must adapt at each layer of the stack.

Her journey across these vastly different organizational models has reshaped how she thinks about risk, and the role of leaders in decentralized ecosystems.

“Working with protocols like Zilliqa required a macro-level approach to risk, focused on systemic issues such as network security, token volatility, regulatory ambiguity, and the broader ecosystem’s health,” Park reflects. “Risk management was heavily tied to the protocol’s sustainability and the economic alignment across decentralized participants.”

At the protocol level, risk was measured in broad strokes. Governance uncertainty. Validator incentives. System-wide token supply. For Park, sustainability meant aligning incentives across actors who often had competing interests—and doing so with minimal direct control.

But things changed dramatically when she moved to Big Time Studios, where the work became far more operational and immediate.

“In contrast, at gaming studios like Big Time, the approach becomes more granular and operational,” she explains. “The risks are faster-moving and closer to the user—things like in-game asset inflation, economic imbalances, compliance with NFT sales, or even marketplace behavior.”

Web3 games operate in a live environment with a highly engaged (and highly reactive) user base. Small changes to item drop rates or token utility can shift user sentiment—and revenue—almost instantly. Park emphasizes the need for precision and speed in response.

“You’re dealing with a live, player-facing product, which means you need real-time data and controls in place. Game economies are dynamic, and small changes can have outsized impacts on both the user experience and revenue integrity.”

What emerged was a new framework—one rooted in rapid iteration and embedded collaboration.

“My approach evolved from managing ecosystem-scale, systemic risk to designing real-time, economy-driven controls. In protocols, the key was alignment and sustainability. In games, it’s precision and adaptability.”

“Ultimately, I now see risk not just as something to mitigate, but as something to design around—especially when your economy is user-owned, real-time, and built on decentralized rails.”

Redefining the CFO Role in Web3

Park’s evolution as an operational leader is emblematic of the broader shift happening across the industry: where traditional CFOs once focused on cost centers, compliance, and reporting, the new Web3 CFO must be operationally embedded and deeply involved in product development.

For those stepping into this world, she offers clear advice grounded in both discipline and vision.

“First and foremost: do your homework. Read the whitepapers. Learn the technology. Understand the market. You may not be writing code, but you must be able to engage deeply with your product and tech teams.”

Web3 finance is not a back-office function. It is deeply intertwined with product design, token strategy, user behavior, and platform technology. Without context, even basic decisions like treasury allocation or pricing can backfire.

“Web3 finance is multidisciplinary—you can’t lead if you only understand one piece of the puzzle.”

Second, Park emphasizes the importance of staying close to the action.

“Stay hands-on and operational. The Web3 space is 24/7. Traditional financial markets close; Web3 doesn’t. If you’re not close to the day-to-day operations, you’ll miss insights and opportunities to optimize your business.”

It is not just about strategic models—it is about execution loops. And in Web3, those loops are faster and less forgiving.

“Third: know your ‘why.’ Don’t enter Web3 because it’s trendy. Understand the core value it offers, especially the shift toward user ownership and decentralization. This shift challenges many traditional assumptions about value creation.”

This principle has guided Park across every role she has taken. From Zilliqa’s protocol governance to Big Time’s in-game asset management to Open Loot’s infrastructure layer, her focus remains on creating integrity at scale.

“Ultimately, a Web3 CFO must be a business leader with the vision to innovate, the skill to execute, and the commitment to empower users,” she says. “Financial leadership in this space isn’t about following templates—it’s about combining operational and tech skills to deliver new products at scale for your community.”

Building the Template Others Will Follow

As more games begin to look beyond token launches toward sustainable business models, Park’s voice is one of clarity in a space still wrestling with volatility. Her journey reflects the kinds of transitions Web3 finance must go through: from protocol-level alignment to player-facing precision, from static planning to real-time control, and from traditional compliance to adaptive, embedded design.

In a space that often prizes hype over structure, Park represents the inverse—a leader focused on building the rails that will outlast the cycle.

And as she puts it best, that work is not just about mitigating risk. It is about designing the future of how Web3 games operate.