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The play-to-earn gaming model has a significant problem, as demonstrated by Sky Mavis’ NFT-based video game Axie Infinity.
Axie infinity had the ideal crypto dueling game for esports a few months ago, along with a fantastic two-fold play-to-earn model. It turns out that neither was flawless, and a real Crypto/NFT + esports game is still a long way off.
Not everything is going well for the P2E game Axie Infinity due to the worldwide economic recession and the wild fall in bitcoin market values. It might be terrible on two fronts for a large number of individuals in developing nations who become fascinated with the idea.
About Axie Infinity
For the complete scoop, you can jump straight to our Axie Infinity review. Let’s go through the fundamentals right now. You must acquire a minimum of three Axies, the game’s playable characters before you can start playing Axie Infinity.
A player’s virtual pets are known as Axies and are modeled after the Axolotl species. Eliminating all three of your opponent’s Axies is the goal of every Axie Infinity game. This calls for planning and skillful use of your arsenal of virtual pets.
The average match lasts less than five minutes.
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How does Axie Infinity pay users?
Smooth Love Potions (SLP) are awarded for victories, while in higher-level competitions, Axie Infinity Shards are available (AXP). These digital tokens are exchangeable for cryptocurrencies, which can then be changed into fiat money.
While doing that is one method to earn money, there is also the option for players to breed additional Axies and sell them in order to profit.
You may utilize two of your digital pets and spend a sum in either SLP or AXL to breed an Axie. You will eventually receive a new Axie with the characteristics of the two Axies utilized in the breeding.
The main issue with Axie Infinity is that the majority of its user base just plays the game to make money. Although the game may be described as decent overall, gamers won’t likely become addicted to it. Its player base is maintained because of the financial incentive.
Additionally, SLP has an unlimited supply of tokens, so a decline in players would have a major impact that would lower its value even further—similar to inflation.
Due to this, many players stopped playing Axie Infinity when its in-game currency dropped by over 90% in February of last year from its all-time high in July 2021. Playing the game would be pointless without the money motivation.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
