3/23/2023 0 Comments Axie infinity server statusAnyone can opt to “play” the game as an investor but Yield Guild Games is one of the larger entities institutionalizing the scholar-investor relationship. It’s a system that has risen because of the high cost of entry. This is the traditional earning ratio for investors and scholars. The general setup is that the scholar gets 70% of the earnings, and 30% goes to Yield Guild Games. These players being lent monster NFTs are called “scholars,” and Yield Guild Games, in this relationship, is an “investor.” Yield Guild Games lends out the monster NFTs to interested players who don’t have the money to buy the initial team of three. Within the same time span, Yield Guild Games has also seen two funding rounds: $4 million in June 2021, and another $4.6 million announced just last August 20, reaffirming, in part the continuing growth of the play-to-earn vertical. Helping Axie Infinity’s cause as well is a $7.6 million funding round that included billionaire entrepreneur Mark Cuban, the Dallas Mavericks owner and featured investor on TV show Shark Tank. Token Terminal, a platform keeping track of crypto assets, shows the growth in transaction volume in Axie Infinity, starting around May 2021 before making a huge jump in late June and early July: The hype has since snowballed through word-of-mouth, and the interest has been sustained by the promise of a payday. The media push resulted in the video being featured in Venturebeat, CNBC, and Hypebeast, and Filipino sites Esquire.ph and Spin.ph within a week of the video being published. The video was funded by a company called Yield Guild Games (YGG), whose two founders out of three are Filipino tech entrepreneurs. While Axie Infinity has been around since 2018, the hype in the Philippines began in May 2021 through a YouTube video showing Filipinos in Cabanatuan City, Nueva Ecija earning from the game, published on May 13, 2021. The price for monster NFTs has grown because there’s a surge of interest for the game, especially in the Philippines. While the NFT minting lays the foundation of trust for the Axie Infinity economy, traditional supply-and-demand forces still underpin it. Here’s a look at some of the cheapest monster NFT offerings in the marketplace: In order to start playing now, you need to have 3 monster NFTs, putting the total at about US$600 or about P30,000. Diablo 3 is designed to have players focus on playing well to get new gear, which the Auction House system had undermined.Īt the time of publication, the cheapest monster NFT is at around US$200. The key focus for gamers is to play well for the chance to earn tokens or breed monster NFTs, which they can sell and earn real money from. With the system, players merely bought items instead of playing for them, negatively affecting most players’ experiences.Īxie Infinity is different in the sense that it primarily markets itself as a “play-to-earn” game. Players could officially sell their loot for real money.īut the system was later removed as it interfered with the game’s core gameplay loop, which was to keep players playing with the promise of better items dropping from slain enemies. One other popular game that has attempted to institutionalize in-game trading with real money is Diablo 3 with its “Auction House” system. In this sense, Axie Infinity is an attempt to circumvent those issues. But it wasn’t an economy that the game developers could officially support as these transactions mostly happened off the actual game, opening up the potential for fraud, and the possibility of in-game items merely being duplicated instead of legitimately earned. In a massively multiplayer game, for instance, a person could sell a rare in-game weapon that they found for real money. In the past, players have traded in-game items for real money.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |