![]() In fact, play-to-earn games are providing financial freedom and security to millions of players from all over the world. Impact on the Cryptocurrency SpaceĪxie Infinity and Play-to-earn games have further highlighted that mainstream adoption of cryptocurrencies does not have to rely on the adoption of Bitcoin. This unprecedented growth showcases the potential of mainstream adoption for a protocol. It sustained our daily needs, paid our bills, and debts.” In a recent documentary on the topic, a mother of three said, “What matters is having money so we can eat, avoid debts and get through every day. This led to an explosion of adoption for Axie Infinity in the Philippines with everyone from graduates, housewives and grandparents to cab drivers and store owners jumping on the game. With the Philippines's GDP contracting 9.6% in 2020, and many impacted by the lockdowns in place, millions were out of jobs. While play-to-earn games know no borders, it has really taken off in South East Asian countries, specifically the Philippines which has been hit hard by the pandemic. For more information on NFTs, be sure to check out our previous article here. ![]() ![]() Axie Infinity takes full advantage of the power of NFTS, with exclusive items containing individual attributes and Land that can be purchased and built on, all available through the Axie Infinity Marketplace. On July 4th, a Triple Mystic Axie (one of 19) sold for 369 ETH, or $730,000 at the current exchange rates. Offsprings with strong attributes, genetics and moves can fetch as much as 0.2 ETH each on the marketplace with rarer Axies fetching ridiculous prices. ![]() To do so, players will need to pay a breeding cost fee which consists of SLP and Axie's other native token, AXS (which is also used as a governance token). Other than the actual game, players can also breed Axies together to produce offsprings. Currently 1 SLP token is worth $0.3310 and players are able to earn thousands of tokens a month, netting great incomes to players especially in lower socio-economic nations. Players are able to earn Axie's native token, Small Love Potion (SLP), through completing daily adventures and battling opponents online. The addition of the Ronin sidechain also introduced a Ronin wallet that simplified the player onboarding process, scaling Axie infinity's adoption by the mainstream. This would help deal with the issue of high levels of congestion on the Ethereum Mainnet while also allowing users to benefit from near instant transaction confirmations, free gas fees on transactions and a block explorer for transparency and data accessibility. Firstly, Axie infinity decided in Mid 2020 that it would create its own Ethereum network sidechain called Ronin. The game has become a phenomenon in South East Asian countries where it is estimated that of the 500,000 daily active users, nearly 60% originate from the Philippines.Īxie Infinity Stats Game Mechanics and Earning SystemsĪxie infinity is a great example of how a play-to-earn game can provide multiple revenue streams through well structured in-game mechanics. One such play-to-earn game that has grown in popularity is 'Axie Infinity' wherein players battle 'Pokemon' style monsters called 'Axies' against one another to earn rewards. The rarer their items, the more the player will earn. The other takes advantage of the underlying technology of NFTs, where players are able to sell their in-game items and characters in-game or through 3rd party platforms such as OpenSea. The monetisation is generated through 2 key paths, the first is through rewarding players with the game's native token. Although, the greatest rewards are only won by the best players in competitive in-game events. P2E games function through rewarding players for completing in-game tasks and activities. Play-to-earn or 'P2E' games are blowing up in the cryptocurrency space with millions of dollars in daily revenue being generated across multiple platforms.
0 Comments
Leave a Reply. |