An intriguing article of how an online game provides cash comfort to gamers during the covid-19 pandemic.
Have you heard of Axie Infinity and the concept of play-to-earn gaming? During the Pandemic, this fast-growing segment of the gaming sector became a global trend.
It is the first NFT platform to achieve over $1 billion in transaction volume. Testimonies; in the Philippines, Axie Infinity has recently become a mode of exchange/currency for food and other goods. So you’d ask, what exactly is going on here? Is Axie Infinity just a trend in gaming? Is it a cryptocurrency pyramid scheme? Or perhaps a brand-new digital nation, Why should I pay attention to axie gaming?
Well, all the answers to this can be seen in this article. Read on!
Most Play earns economies have large marketing budgets and skilled teams producing in-game materials. Axie’s creator, Sky Mavis, spends no money on marketing and provides their player base with 95% earnings.
Players own and build Axies — blockchain-based revenue-producing assets — trading and breeding in this Pokemon meet CryptoKitties game.
The game’s creators, Sky Mavis, profit by taking a share every time an Axie is on for trading, as well as a fee when users breed additional Axies.
More than 2 million axies are presently functioning, and the game has produced $1 billion in transactions, making it the first NFT to accomplish so.
Here are some interesting facts about Axie Infinity
1. Axie’s development
Axie was created by Vietnamese game developers and quickly became popular throughout Southeast Asia. Compared to other popular games, Axie Infinity was created by a small group of Vietnamese creators quickly became popular in both Indonesia and the Philippines.
2. Axie’s popularity was a result of widespread job losses.
Axie Infinity existed for a long time, but its popularity skyrocketed in 2020 due to the epidemic. It turns out that the Philippines is home to a perfect storm of unemployed techies who could benefit from Axie’s services.
3. Every user on Axie Infinity receives 95% of Axie’s revenue
Axie’s economy turns the traditional free-to-play model on its head by giving most of the revenue back to the players. Click here to get how axie infinity has become the second largest fee revenue generator.
4. It isn’t a pyramid scheme, but it has the appearance of one.
Axie, unlike a pyramid scheme, provides real value to its members. It appears to be a pyramid from the outside, but the dynamics are more analogous to the growth loop that any fast-growing company loves.
5. The system is growing fast because cryptocurrency is the reward
Of course, many people will earn cryptocurrency one in a million opportunities. Many users who do not have access to a standard bank account already have a bitcoin wallet and are familiar with withdrawing funds. And it is because of this concept the axis community continues to develop.
6. Axie Isn’t the Only Earn-to-Play Game Available
If you’re considering purchasing AXS right now, keep in mind that there are many other crypto games to consider. Axie, on the other hand, stands out since it has had several years to develop its product and community. The initiative began in 2017 and has recently acquired traction, which the team hopes will make replication more difficult.
However, blockchain technologies are transforming, and every successful cryptocurrency initiative seems to be followed by a flood of knockoffs. There’s always the potential that a coin will be superseded quickly by something better.
7. The Top Play-to-Earn Cryptocurrency Is Axie.
Play-to-earn gaming is a relatively new concept, but it’s gaining popularity. These games reward players with cryptocurrency tokens, something they may subsequently exchange for real money on decentralized exchanges. Learn more how to make money in play to earn games.
8. Axie has an extraordinarily high 30-day retention rate of 90%.
Axie players are drawn in by the game’s strategic sophistication and enjoyment, as well as the urge to make money. This strategy leads to an incredible 90 percent retention rate after 30 days, which is unheard of in the gaming business
9. You need three Axies to take part in the game
Yes, the three axies are required to be a part of the games. If you feel AXS tokens will rise in value over time, you’re more inclined to acquire them as an investment. Axie Infinity, on the other hand, is more of a community than an investment vehicle, encouraging token holders to join.
Participation might also be costly, usually when the price of Axies has skyrocketed as a result of Axie Infinity’s success. Before now, a player gets to start with as low as five dollars, but at the moment, the cheapest Axie costs around $200; thus, gamers would need $600 games to play. You’ll need two wallets and a tiny amount of Ethereum to purchase your first Axie (ETH).
10. Axie facilitates the emergence of a profit-sharing mechanism known as Scholarships.
Scholarships are loans given to players who cannot purchase their Axies. This idea was not the intention in the game, but it became apparent due to a bug in their login mechanism. This meta-game structure now accounts for a significant portion of Axie’s growth.
Managers, well-off players, loan a team of three Axies to scholars, who are laborers. These scholars then use the Axies to grind for SLP and other rare items, passing on to the managers. The manager may also provide the scholar with educational resources and mentorship to help them maximize their daily profits.
What does that imply for you? It means that even if you can’t afford to buy three Axies to participate, you can still benefit from the scholarship.
Axie Infinity is causing people to stop their day jobs to play it.
In conclusion, Axie Infinity is a play-to-earn game with an internal economy that provides substantial revenue and business prospects to thousands of players in emerging economies. Although, it appears to be an intriguing project in which to invest. However, learning about blockchain gaming, the play-to-earn principle, and supporting rights is good.