The NFT-based online game Axie Infinity has been increasing in popularity these past few years, especially in developing countries. The online card trading game is increasing its fan base because of its “play-to-earn” concept.
Another reason for its sudden boom is because it utilizes the new technology of blockchain and cryptocurrency as a form of digital currency within the game that can be converted into real cash.
Axie Infinity is one of the emerging online games that are using cryptocurrency in its gameplay. This blockchain game is one of the games that are slowly building its own metaverse.
The coined term “metaverse” is simply a digital in-game realm where a game is designed to contain multiple gameplay modes that have their own unique economy. The metaverse economy refers to the combination of the traditional cash economy and digital currency economy.
Axie Infinity has both a digital card trading market and land ownership element. The “axies” refer to the creatures that are digitized as non-fungible tokens. Players can collect, upgrade and battle these trade creatures with the computer or with another player.
In order to breed or upgrade an axie you have to collect SLPs or (Smooth Love Potion), which is the currency of the game. Players can buy or sell their axie in order to advance in the game. This market is very popular with experienced players whereas they are selling their axies to inexperienced players in order to gain real cash by converting SLPs.
Traditional Versus Blockchain Esports
In traditional esports, the players are rewarded with real money in the tournaments. The champions can earn millions from the prize pool that came from the sales of the content worldwide being downloaded.
In Axie Infinity, the money came from the players buying into the game by purchasing other’s axies or gaining experiences within the game. In the Adventure mode, however, is where players only learn how to play the basic mechanics of the game by competing against the computer.
Preserving the Interest
As for now, Axie is advertised as a “play-to-earn” game, where people can play casually and has the potential to earn real money. However, this concept is not new as esports tournaments and casino Singapore gambling games are technically considered “play-to-earn” games already.
The only difference is the technology behind it, Axie Infinity and other NFT-based games are operating with blockchain technology and cryptocurrency. These technologies are far more secure and reliable when it comes to digital payment transactions than other forms of digital payment methods.
However, it is not easy for players to fully make heads or tails of it. The learning curve of Axie Infinity is quite tough and one must possess a lot of patience in understanding the dynamics of the game.
It is quite not easy at first because of the new technology behind it but as you go along in your journey playing the game, you will eventually get the hang of it.
Also, compared to Dota 2 and Counter-Strike: Go, the game is decentralized. What it means is that the players actually hold the economic power of the game unlike in traditional video games where the developer shapes how the players will be rewarded.
It is clear that blockchain games are a new addition to the rising ‘leisure economy’ where pursuing passions define and sustain the economy rather than relying on doing menial tasks. It is disrupting the status quo of an economical template based on the mundane and instead relies more on earning money by pursuing one’s eudaemonic goals.
Blockchain technology is the key to the future along with other emerging technologies such as Virtual Reality, Artificial Intelligence, and the Internet of Things.