This week we are taking a look at Axie Infinity and the Play-to-Earn model
But first... let's first discuss gaming. As the gaming industry grew with popularity and technology we started to see a shift in game development that allowed studios to pull every possible penny from their players.
When I was a kid you could go down to the local Blockbuster (RIP) pick out the latest game and rent it for a weekend, heck you could even rent Playstation and N64 consoles back then too. Renting a game was great because you didn't need to spend 50-60 dollars to buy a game that you could beat in 3 days. Obviously this one time purchase or even rental of a game that took years to create didn't make the most sense for the studio selling the game.
As technology advanced we started to get in-game items like weapons, outfits, skins, tools, additional features, loot-boxes, etc. The studios found the best to increase their profits was to offer many of these items for purchase inside the game itself. It would now cost you real world money for in-game items that you don't really own.
Now, if they want to stop supporting the game and take down all the servers all your "gear" and "loot" is now gone and rendered worthless. This need to pay in order to just play the game has become known as the Pay-to-Play model, and we hate it!
Enter blockchain
With the advent of NFTs and true ownership of digital items we have now unlocked a new way to develop games which Axie Infinity is taking full advantage of. These in-game items that once we're nothing more than something new to look at is now capable of being truly owned by the individual playing the game. This means that the owner can trade, gift, and even sell items for real world money. Enter Play-to-Earn.
So what is Axie Infinity
Axie Infinity has become one of the most popular Play-to-Earn games out on the internet today. It recently announced that it has surpassed one million daily active users and has reported over one billion in transactions.
The game itself is similar to Pokemon. You are able to own creatures, Axies, which then can be breed (similar to CryptoKitties) and also battle. When they battle you are able to earn in-game items that are used for various tasks such as breeding.
How Axie Infinity became more than a game
As the Covid-19 pandemic swept around the world, millions of people found themselves stuck at home unable to make a livable wage to support themselves or their family. In the Philippines some locals discovered this new game called Axie Infinity and started to play, realizing that they could make a few dollars a day by playing the game and selling off some of their items earned. As the news of this new way to make money during the pandemic spread more and more people started to play and the popularity of Axie Infinity rose and like a stock getting a lot of attention so did the value of in-game items. One journalist noticed this and created an incredible documentary short film: PLAY-TO-EARN | NFT Gaming in the Philippines.
So now people are able to make livable wages by playing a game for the working hours of their day, kind of gives me flashes of the IOI war room from Ready Player One. The thing that really amazed me about this story and the future of play-to-earn gaming is that it has created an entire ecosystem around the game. In the documentary you will meet young entrepreneurs who played the game and realized its potential for change. These young men created the Axie University where they teach people how to play the game so they can make a career change from areas of work that got hit hardest during the pandemic. They even offer scholarships for those who may not be able to afford the (now) steep entry fee to start playing.
In conclusion...
There has been a lot of talk about blockchain and especially cryptocurrency in the general news the past few weeks. I get that this technology and confusing and even scary at times but the purpose of this blog is to help separate the good from the bad and really highlight what some creative people are able to achieve in hopes of bringing more equality to the world. Axie Infinity is a perfect example of this. Its designers created an entirely new gaming model that allows for people to find new purpose and opportunity in life and created the endless possibilities for others to create businesses of their own.
This project
Thanks for reading along this week. Next week we will dive into another blockchain project that is directly affecting the betterment of our fellow humans.
Wanna chat blockchain? Feel free to reach out -
cjohansen11@me.com
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