Axie Infinity: Primary Target
Fireworks went off today and it’s not the fourth of July. At the NFT Experience Conference a panel of Industry rockstars spoke about a huge segment in the NFT community – Play to Earn.
Miko Matsumura – General Partner, Gumi Ventures
Michael Wagner – CEO, Star Atlas
Kieran Warwick – Co-Founder, Illuvium
nVenom – Creator, Green Rabbit
Direkkt – Marketing Director, Sandbox
At one of the more interesting and lively panels of the conference moderated by one of our own dGens founders the topic of discussion was focused on the play to earn segment. While the moderator did a great job at asking questions and keeping our panelists on task the conversation was lively and fluid. Many members couldn’t help but to chime in and this led to some incredible free thinking and points of view on the space. There were also some common recurring themes throughout the discussion.
Each member agreed that communities whether through Discord, Twitter, or otherwise are the heart and souls of the NFT space. Without these communities, NFTs would struggle to launch, become established, and later go on to success. It’s a two way street and the top play to earn NFTs recognize this, so much so that many NFTs use the community to vote on their direction and future.
Play to Earn Economies
Panelists acknowledged that in play to earn gaming especially with in-game specific tokens it needs to be a careful dance. Mike Wagner expanded on this by saying the challenge with play to earn gaming is at the beginning of each launch the NFT lives in an extraction based economy through token issuance. If players immediately take out value without replacing it then both the token and game would be in trouble. The key in the space is to establish mechanisms to allow for a good balance of value in / value out.
Axie Infinity Won’t Remain at the Top for Long
Panelists acknowledged the current power and market share of Axie infinity but remarked that the game takes a lot of time to be successful – it is a grind and that competition is coming who will be able to provide players monetary success on a quicker trajectory.
The Move to AAA Gaming
Everything that we are currently seeing and experimenting with in the NFT space, specifically in the play to earn sector is serving as the testing ground for what will eventually become a AAA game format.
Possibly the most talked about concept within play to earn NFT gaming is the ability for this to serve as a vehicle for citizens of impoverished 3rd world nations to earn a proper living. There are 700 million people living in the world who earn $2 or less per day. The panelist agreed it is their duty as Devs in the play to earn space to make these games accessible to everyone – no barrier to entry. Some nations are catching on and seeing a boon to their economies. Take the Philippines for example, Axie is becoming so big that local shops are accepting the AXS token as forms of payment – they have identified it literally as real money!
Overall the panel was very bullish not only on the NFT space but on the play to earn segment. We are just scratching the surface of what this can become on a larger scale. This has the opportunity to actually impact our global economies and provide proper wages and redistribution of wealth.