Categories
Gaming NFT

Draco Dice Provides a Potential Use Case for NFT Tech

So you’ve built a collection of NFTs. You have a wallet packed with pictures of kitties, apes, hornets, and turtles. 

What are you going to do with them?

It’s the question that NFT collectors have always been asked, and initially, the answer involved either admiring their collection of attractive artwork or selling rare designs for a profit. 

Increasingly, however, the NFT world is moving away from art for art’s sake and towards new functionality. NFT designers are minting products that collectors can use. Developers are creating platforms to which those users can import their tokens. 

While CryptoKitties bore some resemblance to 1990s Tamagotchis, it was the rise of CryptoPunks that first showed that NFTs could be more than a set of unique doodles. The ability to use the punks as avatars enabled collectors to show others not just that they were part of the NFT community but that they’d managed to snag some rare and desirable designs. 

The rise of blockchain metaverses like The Sandbox and Decentraland created entire new worlds in which NFT enthusiasts could display and use their holdings, and it wasn’t long before gaming companies took the idea even further. Animoca Brands, the makers of The Sandbox, has created a series of racing games in which the cars themselves are NFTs. The company is now worth more than a billion dollars. Investors are increasingly wondering how else blockchain-backed tokens can be incorporated into the multi-billion dollar gaming industry. 

One project from the makers of Blockchain Heroes, a set of NFT collectibles, suggests that every aspect of a game can be turned into an NFT for use in blockchain gaming. 

Draco Dice is a set of 3,300 unique multi-sided dice. Each box contains a set of six dice with 4, 6, 8, 10, 12, and 20 sides in random variations and rarities. Unlike generative NFTs which randomize the characteristics of a design to create uniqueness, Draco Dice have been designed by veteran Hasbro and Disney illustrator, Clark Mitchell, using variations and finishes based on materials including wood, plastic, glass, metal, porcelain, jelly, and stone.

“One of our internal mantras is ‘no ugly dice,’” explains Draco Dice creator Zach Comm. “Every die needs to have genuine aesthetic value.” 

To demonstrate their functionality, the minting of the dice will be accompanied by the release of Draco Dice: Skirmish, a dice-based collectibles game. But the goal is to expand the use of the dice beyond a single game, and even beyond a single platform. The first edition boxes will be released on the WAX blockchain but the dice are designed to be used across Ethereum, Polygon, Flow, and other popular chains. 

Draco Dice: Skirmish, says Comm, “has been designed to produce a case study in how Draco Dice NFT design makes them an intuitive asset jumpstart for other game developers.”

CryptoPunks gave NFTs a new use for collectors, and metaverses gave NFTs entire new worlds to inhabit, but Draco Dice shows that every aspect of a game, including its accessories, can be turned into collectible NFTs that players can keep and use wherever they play. They demonstrate that NFTs aren’t just for collecting and hodling anymore.

The author is on the DracoDice team as an investor and advisor.

Categories
Gaming NFT

This Week in the Axie Infinity Market (Oct 12th – Oct 19th)


In this edition, we’ll look at the past 7 days of the Axie market and recap the highlights from one of the biggest platforms in the history of NFT gaming. This week, we’ll be covering the usual, in addition to the moment when Axie Infinity fired a shot at users they feel abuse the ecosystem.

“Accounts under 800 MMR will no longer receive SLP from adventure, arena or the daily quest.”

Bots or accounts that are automated will spam cards during PVP and PVE gameplay hoping to win SLP often driving their MMR (Match Making Rating) into the dirt. Sky Mavis believes users in the <800 range are just bleeding SLP from the ecosystem. Some users have pushed back saying cheap axies can lead to fewer wins and a poor MMR score. Time will tell how much this will affect floor Axie prices and SLP distribution. 

The numbers in this recap were sourced from Axie’s Marketplace Tracker.

Market Volume:

As of this writing, in the past week, over $125 million worth of Axies and land have been traded—with over 426,000 Axies trading in the past seven days, and less than 500 lands changing hands. This is noticeably down from last week’s volume. 

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to instead focus on the lowest ten (10) Axies on the market. 

This week, the floor range is from $130 to $134. This is a drop from last week’s range of $170ish. This is a reflection of both ETH price increasing 10% and possibly the 800 MMR updating affecting the demand of floor axies.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance. 

SLP over the past 90 days has steadily declined from 29 cents to where it sits now—just a hair under 7 cents. With the addition of the new update, we shall see if the tightening of SLP from people dumping on market affects the overall trajectory.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. Also, they can now stake this token to vote and earn more AXS. 

AXS is back into the $120s as of this writing. The golden child of the two Axie currencies had a spike to $144, but has since cooled off.

AXS Staking

This month we gained a new metric to track:

Total AXS that is being staked! Out of roughly 61 million circulating, we have over 18.1 million AXS staked. This is an increase of over 2.5 million from my last recap. This is one of the largest week-to-week staking increases we have seen since staking went live. As more gets staked, we will see less return per AXS staked, but the reward pool can change over time. 

Last week, approx 27.2% of the supply was staked, now that percentage is 29.5%. 

Land Sales:

The range this week for land sales was between $14,300 and $15,600. ETH is trading in a higher range than it had been last week. When ETH is in a higher price range, we see prices adjust. The lowest lands have actually been listed in the past 7 days. These are users trying to undercut the lands that have gone up in price thanks to ETH having an upswing. If ETH continues to climb, we may see more undercutting.

The End:

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!

Categories
Gaming NFT

This Week in the Axie Infinity Market (Oct 5th – Oct 12th)


In this edition, we’ll look at the past 7 days of the Axie market and recap the highlights from one of the biggest platforms in the history of NFT gaming. Axie Infinity has passed over 2,000,000 daily active users (DAU).

Axie Infinity

Following the trajectory from the chart, it looks like it’s not slowing down anytime soon. It’ll be interesting to see if AXS staking and price increase affect the DAU over time.

The numbers in this recap were sourced from Axie’s Marketplace Tracker.

Market Volume:

As of this writing, in the past week, over $137 million worth of Axies and land have been traded—with over 481,000 Axies trading in the past seven days, and less than 600 lands changing hands.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to instead focus on the lowest ten (10) Axies on the market. 

This week, the floor range is from $171 to $172. This has been affected by the change in breeding fee from a few weeks ago. ETH is in a similar price range that it was in last week.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance. 

SLP took a mini-vacation from its downward slope in price. It’s returned to 7 cents, just slightly higher than what it was when AXS staking went live. The previous bump can be attributed to people being hyped with AXS price spike and buying into SLP thinking it’d join that upswing. We will keep an eye on if SLP finds any more use cases i.e the new breeding fee increase. More utility the less that will be dumped on market.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. Also, they can now stake this token to vote and earn more AXS. 

AXS is “only” $121 as of this writing. It’s a drop from it rocketing to its ATH a few weeks ago. When a coin shoots up hard a correction is in the cards. But looking at it from a macro level we can see more AXS is being staked so we should see how it affects the price in the long term.

AXS Staking

This month we gained a new metric to track:

Total AXS that is being staked! Out of roughly 61 million circulating, we have over 16.6 million AXS staked. This is an increase of over 3.4 million from my last recap. As more gets staked we will see less return per AXS staked, but the reward pool can change over time. In real-time we can see the amount being staked is increasing. Last week it was approx 21.6% of the supply was staked, now that percentage is 27.2%. 

Land Sales:

The range this week is $14,800 to $15,600. ETH is in a similar place range-wise as it was last week. When ETH is in a similar price range we can see changes that are easier to track. Such as if the land floor is going for $12k when ETH is at $3,500 and ETH goes down to $2,500 the floor would drop drastically in $ or USD. It can be harder to see trends in price with larger shifting variables. So ETH being in the same range helps. We are still waiting for land to gain real-time utility, will keep an eye on this.

The End:

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix!

Categories
Gaming NFT

What Is The Treeverse NFT Game?

Treeverse is a browser-based metaverse that is geared to be a social media platform like Discord or Twitter, but with a more NFT-focused community. It was founded this year by Loopify, who is a well-known NFT creator and collector within the community. Loopify started as an artist in the NFT space and began Treeverse by creating the NFT collectibles project NFTrees. One of the key draws to Treeverse—besides the community that Loopify has nurtured—is that it plans to add play to earn elements down the road. 

ONE37pm asked Loopify what they feel separates Treeverse from other play-to-earn games: “Treeverse will be one of the first playable MMORPGs where you can exchange assets earned in-game for NFTs and also earn our native currency that runs the world. We have a ton of things that we are doing, but my personal favorite is definitely earning assets in the game and allowing them to be freely traded as NFTs in our marketplace. It’s another form of ‘p2e’ and it’s for users who spend more time and effort inside of our game for the rarer items.”

Built with a retro style, the game uses art that reminds people of classic games like Pokémon and Runescape. “Treeverse will be very community-centric and will have a unique art style compared to other traditional games. I think this is what will attract other users and keep our community involved,” Loopify tells us. This community-driven focus has blossomed from the fact that NFTrees went from being a project to a “full-blown metaverse.”

Earlier this year, NFTrees was the first collection that kicked off Treeverse; there are only 420 trees available in the original collection. Building on top of the NFTrees project is one of the biggest draws to Treeverse, which is the NFT collection called the Founders’ Private Plots or FPP. Founders’ Private Plots NFTs grant you access to private homes inside of Treeverse. Inside these homes, you can display your favorite NFTs, show off the art you have, and invite your friends to come over. Since the inception of the FPP, the team has added new features—including animated frames.

These homes are not on the map, but if you own the NFT you can teleport to your home. 420 Founders’ Private Plots were airdropped to the holders of NFTrees. Holding onto assets and earning new assets has been a trend with this project; it rewards community members who are invested. The rest of the 10,000 Founders Private Plots were sold out in one hour. In regards to gameplay, Treeverse is in its early stages and is currently in public alpha. To access public alpha you do not need to own an NFT; anyone can play by going to https://play.treeverse.net/

What is Timeless?

Timeless is an avatar collection that will act as playable characters inside of Treeverse. There are plans for it to become a brand. “Think anime, manga, figurines, etc.” Timeless gives you a unique appearance in the game. There will be over 11,111 avatars minted in total. There will be no public sale. Instead, on the release date, community members will be given the option to mint an avatar for 0.222 ETH. NFTrees holders can mint a Timeless avatar for free.

With the acceleration of this project and all the exciting updates, we asked Loopify if Treeverse is the end goal: “Treeverse is the end goal, but I am building Interleave which will transition into a DAO and relate to Treeverse in a way. I am very passionate about the things I am building and lucky to be in a position where I can continue doing them as time passes.”

Members of the One37pm team own one or more of the NFTs discussed in the article.

Categories
Gaming NFT

What are NFT MMORPGs?

Video Games have come a long way since the first arcades. Players no longer have to be on the same machine to play together. There are several different kinds of games that have a social component that lets you play with your friends. MMORPGs have been one of the most popular genres since the 90s, breaking records and pushing the limits of what’s possible since the ’90s. And now with play-to-earn and NFT mechanics, it ain’t stopping anytime soon.

If there was a Video Game hall of fame for genres, MMORPGs are already there.

So what exactly is an MMORPG?

As the name showcases, it is a blending of two game types, MMO and RPGs.

A roleplaying game—or RPG—is a game in which players create a character and act out actions like quests, storylines, or following specific actions. 

MMOs are massive online multiplayer games. All MMORPGs are MMOs, but not all MMOs are MMORPGs. Games like Fortnite and other battle royale games can actually be considered MMOs. They have the massive multiplayer element, but lack the RPG mechanics. 

Another important distinction is that in MMORPGs the game world evolves and changes while the player is offline and away.

What are NFT MMORPGS?

NFT MMORPG are MMOs with an RPG element that approach the game with an NFT / play-to-earn aspect as well.

Why are they different?

Let’s compare one of the hottest MMORPGs in the history of gaming: Blizzard’s World of Warcraft. I grew up playing their Real-Time Strategy game Warcraft II. I had spent many hours playing as the Orcs: I loved building Dragon Nests and sending waves of dragons at my enemies. Years later when WOW came out, I was awed by the ability to run around and explore these areas I had played in for years. 20 odd years later, WOW is still considered a classic in terms of MMORPGs. But the landscape is changing.

What’s innovative in this landscape?

Similar to how Blizzard built on top of what was already successful in the MMORPG space, other games have been adding innovations. 

The core idea behind WOW was that you level up your character, get better loot and skills and defeat bigger bosses. In World of Warcraft, for example, you would pick a race of a character like an orc and then a class like a hunter. From there, you level up your related abilities and complete missions related to whether you’re in the Alliance or their sworn enemy the Horde. Orcs by default are part of the horde. This creates a larger social dynamic, as any player from the alliance branch is your enemy. Aside from playable enemies, the game also has monsters you can defeat to earn gold. Gold is the main currency in WOW. WOW continues to rely on a subscription-based model, so players can buy access or WOW tokens from other players. Players buy from Blizzard with real money and can then sell to other players for in-game gold. It continues to try and evolve, adding new content and game modes to stay fresh.

But WOW is getting some new company. Amazon—your favorite impulsive purchase supplier—is getting into gaming. After a series of flops, they may have found a winning combo in their new MMORPG New World. New World deviates from WOW’s subscription model and instead charges the upfront fee. But one of the coolest mechanics I have seen is the ability for players to battle for and own territories. And these settlement members can elect governors who decide how the settlement is run. Having a power struggle over territory is a great way for players to get invested into gameplay. But like most—if not all—of the other games I have mentioned, there are no “real” perks for the gamers.

If they decided to split the revenue with the players and have the ability for them to earn passively for the land they fought and bled for, it’d draw millions of players away from their competitors.

On that note, one game is attempting something similar to that.

EmberSword

EmberSword is an upcoming MMORPG that considers itself a modern version of the classic genre. It features some unique mechanics including a player-driven economy, a classless combat system, and the ability to own and buy land on an outside game marketplace. When players own land, they actually get a share of the trading fees in ember—the cryptocurrency powering their in-game economy from activity that happens in and near the land plot.

The excitement led to over $200 million dollars being spent on their land sale.

The Six Dragons

One of the biggest issues with World of Warcraft is that fans feel like their concerns and suggestions are downright ignored. It has been an issue that has plagued Blizard for decades. What if fans could have a say in a game’s direction?

Meet The Six Dragons.

The Six Dragons is an MMORPG that is powered by Enjin and partnered with Sony. It is currently playable right now for free on PC.

And with their migration to Enjin’s Jumpnet, they will give players the ability to have governance.

This will be achieved through a governance NFT, to be exact. This will enable players to not only earn with the new economy, but to also vote on proposed choices for the game. For example, if players wanted a lower fee/cost for minting blockchain items, that can be something the community votes on.

Where are MMORPGs going?

World of Warcraft is the giant on whose shoulders most games stand. New World is incorporating some interesting mechanics and should have a decent player base, but it’ll be interesting to see where the games being made now are going. Do they keep the direction of games like New World that don’t permit trading outside of the game? Or will they instead revamp their entire economy on a play-to-earn aspect and share with their players like EmberSword? The next few years will be fun to watch.

Categories
Gaming NFT

This Week in the Axie Infinity Market (Sept. 28th to Oct 5th)

In this edition, we’ll look at the past 7 days of the Axie market and recap the highlights from one of the biggest platforms in the history of NFT gaming. Axie Infinity continues to become a bigger player in the gaming space. Their parent company Sky Mavis recently raised $152 million in Series B Funding. It was led by Andreessen Horowitz of a16z.

The numbers in this recap were sourced from Axie’s Marketplace Tracker.

Secret Stake Sauce

How do you like your stakes? Axie Infinity enabled users to stake their AXS. This was celebrated with millions of dollars worth of AXS dropped to early adopters. 

This adds a new barometer on the health of the Axie economy, as I will now be tracking how much AXS is being staked. When a large percentage is staked, there’s less reward AXS per AXS staker, but it shows less AXS is being sold on the open market. The current climate is seeing people wanting AXS vs trying to sell it. It may be a better reflection vs the daily fluctuations of the price. But watching the price double over the past week was wild.

Market Volume:

As of this writing, in the past week over $127 million worth of Axies and land have been traded—with over 470,000 Axies trading in the past seven days, and less than 500 lands changing hands. This comprises a slight uptick in volume from my last recap.

With the release of AXS staking, it made AXS a more sought-after, currency which could affect breeders long term. 

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to instead focus on the lowest ten (10) Axies on the market. 

This week, the floor range is from $158 to $162. 

The floor has benefited from Ethereum flipping the script and bouncing to $3,400 from $2,900 this time last week.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance. 

SLP just paused their downward spiral. I’m not sure if it’s a reflection of the AXS spike or a general reflection of the SLP market. Traders may have scooped some up some thinking SLP will bounce with AXS.

It very well could be a delayed reaction from breeding fees being changed recently. We will keep an eye on it.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. Also, they can now stake this token to vote and earn more AXS. 

Have we seen such a violent change in price since we started this series? I think not.

The price has exploded from $70 to over $140. It’s right now trading in the $130 range.

AXS Staking

We have a new metric to track:

Total AXS that is being staked! Out of roughly 61 million circulating, we have over 13.2 million AXS staked. As more gets staked we will see less return per AXS staked, but the reward pool can change over time. It should be interesting as we track this over future editions.

Land Sales:

ETH price change may have affected this more than any other factor, but the floor range for land is $14,000 to $16,400.

The End:

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix! 

Categories
Gaming NFT

The Relationship Between Streamers And Play To Earn

What’s A Streamer?

Streamers are content creators on platforms like Twitch and Youtube that stream live content—often gaming—to live audiences. 

If someone was asked to name a popular streamer, they could probably rattle off a few names like Timthetatman, Dr Lupo or even Ninja. While these streamers have the brand deals, income, and the popularity of being household names, they are a sliver of the entire streaming population. Most streamers are extremely dependent on the income that’s generated from paid subscriptions like subs on Twitch or actual donations—an income that varies month to month. Streamers are known to burn out due to the stress they put on themselves to never miss a stream but to constantly push themselves so they can make ends meet. I should know as I attempted streaming to replace my full-time income before. I streamed on Twitch on and off for the past few years. At my peak, I was making about $100 from the platform. I have had friends who do it full time, and they will tell you the same thing: it is super stressful.

On the surface it sounds fun; you play video games and people watch you and they’ll give you money. On paper that sounds great, but when you consider there are over 9 million streamers active each month, it quickly becomes extremely competitive.

You can see the math lineup for a ton of people who want their share of the pie.

With the addition of NFTs and play to earn gaming, we are watching a transition with streamers and communities. 

I spoke with Tyranitar, a popular streamer in the NFT gaming space. He got hooked on a game called Lost Relics when he found out the loot drops could be resold for real money. After discovering Lost Relics, he found himself drawn to Axie Infinity and told me that “Axie Infinity exemplifies the play to earn model the most, because you quite literally play and earn with each victory you have.”

One of the coolest parts of my conversation was when I asked him about his scholarship program: “The issue is most people don’t have the money to put into this game, but still want to earn.”

In Axie Infinity you have to own three Pokemon-inspired characters—called Axies—to play the game. Axies do not come with the game for free; you have to buy them off the market. Tyranitar goes on to explain how the process works: “Let’s say I have a bulk supply, I can’t use them all so I can rent them out to people (for free) who want to play. A lot of these players are located in the Philippines where the wages aren’t as high as in other countries. So we rent out these Axies and I split 70/30 with 30% of their winning being payment for renting the Axie.”

Through his scholarship program, he has over 180 players under his wing that he has loaned out Axies to so they can participate in the game. These 180 teams are competing for money and earnings, but they’re also splitting their profits with him. So you have a streamer who has helped educate players on a game and he now has revenue coming in from his participation in a play-to-earn game.

The Play to Earn Economy:

Typically, gamers play a game, and all the items, skins, and characters they “earn” are actually owned by the game’s developers. If they tried to sell items on 3rd party marketplaces, they could risk their entire account being wiped. So the idea of having a video game developer that’s cool with you selling the game’s items raises both confusion and curiosity from players. 

The Play To Earn economy that has been dominating headlines has not gone unnoticed by streamers. In fact, some communities have been a part of the wave. I personally have seen communities spring up around streamers who play these Play to earn NFT games and can answer questions people may have about crypto, NFTs, and P2E. Streamers and NFTs/Play to earn are developing a symbiotic relationship. The games need eyeballs to show there is a completely different business model than what gamers are accustomed to or rather think it is only real in movies like Ready Player One.

Let’s look at MIR4, for example. MIR4 is a Korean MMORPG that will enable NFT integration and currently lets players covert in-game currency to crypto. They grow curious. They watch and listen as the streamer talks about the smelting process and how X amount of the in-game currency is now worth $8. streamers are able to introduce play to earn gaming and NFT gaming to new audiences, which leads to a larger player base. They cultivate a community that is interested and voraciously hungry to learn more about this ecosystem.

One of the biggest tips that people tell new streamers is do not lock yourself into one game. If you build a community out of a single game you will not be able to play anything else. If you grow tired of playing that game, your numbers will drop off and so would your Twitch-based income. 

Streamers who stream in the play-to-earn genre are encouraged to try new games by their community because they want to learn and grow. The community wants to learn more about these new games and they want to see how they can do better in these games. For example, take someone in the community who just learned about a first-person shooter that rewards people in crypto for killstreaks. They will ask the streamer if they’d stream it or care about it. 

The streamer gets to grow as they attract more like-minded people who want to find out more about this space. This is an opportunity for the streamer to become a hub for education because they can play a game while simultaneously answering questions live and showcasing what’s on their screen. Over the course of days, weeks, months, this will shape entire sectors of the ecosystem as knowledge passes along, like a network of nerve endings. He told me: “I feel like being a streamer in the NFT space is really awesome because you get to entertain people and you also get to help people on things that they may not be knowledgable about. It sounds like a burden to the streamer, but I actually find it really fun, because when I started I was really ignorant to a lot of this stuff and I didn’t know the answers, but as people come with problems and other viewers come with solutions to explain how things work, I get to retain that knowledge and help more people in the future.”

Be sure to join our Discord, and if you want to be on top of NFT news, be sure to follow our Twitter.

Categories
Gaming NFT

Axie Infinity Enables AXS Staking

Gaming is evolving and players’ opinions and thoughts are starting to be heard in new updates and content that is being released. This evolution is a drastic change from mainstream games and their usual model of operations. One of the most infamous PR debacles in gaming history was when EA locked Darth Vader behind a paywall for a game that was $60+. And in a now-deleted tweet, the community manager at the time referred to the upset players as “armchair developers.”  This tone-deaf approach that has happened at major game companies has opened the gate for other game studios l to cater to a player base that wants to be heard and appreciated.

One game that has exploded due to its impact on community support is Axie Infinity. And they just enabled something that will let their community actually vote on decisions.

Meet their governance token AXS.

WHAT IS AXS?

AXS or Axie Infinity Shards are ERC-20 tokens.

ERC 20s are a type of standard on the Ethereum blockchain, usually denoted as divisible currencies. Think of it like digital money that you can divide like a dollar bill into pennies and quarters. AXS is a governance token, which is a type of cryptocurrency that represents voting power on a project. So a user that owns AXS can vote for specific directions for the game and community. If there was a vote on whether the developers wanted to implement trading fees on player land the community would get to vote in relation to how much AXS they have staked or locked in.

Staking also enables players to earn more AXS. Similar to how an account at your banks gives you a yield on your balance if you keep money there.

Other projects like AAVE and others have utilized governance tokens before but not many NFT gaming projects have. So it’s exciting to see a project have staking.

What is staking?

This morning about 10,000 of the first early adopters were airdropped or distributed free AXS, over 800,000 AXS or $60m dollars worth.

I myself was airdropped 8 AXS today (currently valued at $600) because I was an early adopter and player. Anyone who had played the game before October 26th, 2020 needs to check their wallets too. This was meant to commemorate the support of the community and to celebrate AXS staking going live. In comparison to almost any other game on the planet, few have the bandwidth to drop $600 of items with instant liquidity to their community.  The amount of AXS that was distributed to the early player base was determined by how much each player had staked within the ecosystem. This model would be great within communities like Call of Duty who have had player royalty for over two decades. Imagine if some of the top players who committed days or weeks of time within popular franchises were rewarded by the game studio for their loyalty.

And many users are turning around and staking it versus selling it, they want to earn more AXS and believe the value will only go up.

How to stake AXS

As of this moment, over 3.5 million AXS tokens are staked of the 58 million AXS available.

In this ecosystem, AXS has a sister currency called SLP they have different functions but are often compared with each other.

AXS price can be found here.

Is AXS like SLP?

SLP is another currency used by Axie Infinity but it is not used in the same way. Smooth Love Potion has an unlimited supply and is given as a reward every time players win a battle. Like AXS it can be bought and sold on crypto exchanges. Players can earn AXS in games but only by winning tournaments and by placing on the leaderboard in PVP.

What does this mean for video games going forward?

It’s a whole new ballgame.

Other AAA games don’t have forms of staking or rewards for people who participate in the community. Call of Duty and other popular video game franchises don’t have the ability to let fans vote on important game decisions like marketplace changes. As game studios watch the money and attention flow in, they may start to change how they look at these ‘armchair developers’.

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Categories
Gaming NFT

This Week in the Axie Infinity Market (Sept. 21st to Sept. 28th)

In this edition, we’ll look at the past 7 days of the Axie market and recap the highlights from one of the biggest platforms in the history of NFT gaming. 

The numbers in this recap were sourced from Axie’s Marketplace Tracker.

A New Breed(ing) Fee

The Axie Infinity community has been wanting a change in how Axies are created. Fans across the globe feel that more SLP should be burned or permanently destroyed to create new Axies. And Sky Mavis, the studio behind the NFT gaming sensation, has listened. This past week they announced an update to the Axie breeding fee.

This is huge for both new and old players. More SLP needed to create new axies will act as a better sink for the currency. A sink is when game devs take a material or currency and sink it into something to reduce the total supply, encouraging players to use it so the average player doesn’t have a ton and break the game economy. This is similar to how some grocery chains conduct a buy one get one free deal if they have too many of one product. If they don’t remove the older inventory, it can pile up in the back storage area of the store and impact the efficiency and distribution of other items.

Market Volume:

As of this writing, in the past week over $108 million worth of Axies and land have been traded—with over 457,000 axis trading in the past seven days, and less than 500 lands changing hands.

Bring it to the floor:

The absolute cheapest or lowest price of Axies is what we call the floor.

In the first few iterations of this market recap, I took the cheapest one or two Axies on the market and analyzed that as the floor. After crunching my numbers, I have found that it’s better to instead focus on the lowest ten (10) Axies on the market. 

This week, the floor range is from $116 to $123. This price has been affected by the drop in the value of ETH. As of this writing, ETH has dropped to below $3k.

We have seen more Axies bought and sold, but their lower prices have led to a smaller overall $ volume.

SLP (Smooth Love Potion):

To breed your Axies, you need to spend the in-game currency SLP, which can be earned in-game or bought/sold on crypto markets like Binance. 

Over the past month, Smooth Love Potion has lost half of its value, dropping from 13 cents at the beginning of the month to where it currently lies at 6 cents. This is the first market recap since the readjustment of SLP & AXS for breeding fees. It may take a few months before we see a difference in the price action. So much SLP may be leaving the market to sell on exchanges that Sky Mavis may need to try more drastic actions to reverse the downtrend we have seen over the past few months.

AXS (Axie Infinity Shard):

Another barometer of the Axie economy is their governance token AXS. Users who hold these tokens can vote to shape the direction of the game. Also, they can stake this token to vote and earn more AXS. 

As mentioned earlier, the SLP is not the only thing being affected by the new breeding changes. AXS actually had their cost reduced from 2 to 1 AXS. Over the course of the past week—and zooming out to the past months—AXS has been trading sideways.

Land Sales:

ETH has dropped in value over the past month, so the USD prices have fluctuated for some of these lands. The floor is currently around 3.5 ETH. At current ETH prices, that puts it around $10,500. However, earlier this month it would have been approximately $12,000. The land market will get less stagnant after lands gain utility. It’ll be interesting to see the difference in volume after that point.

The End:

This has been this week’s Axie Infinity Market recap. If you have any questions or requests for future editions, be sure to follow us on our NFT centered Twitter @NFT137 for your NFT fix! 

Categories
Gaming NFT

What Is Play to Earn Gaming?

Play-to-earn is a new business model that is sweeping the video game industry and allow players to earn assets they can sell for money in a marketplace. As users play the games they earn a tradeable currency that can be exchanged for real money. Some of these assets are NFTs or non-fungible tokens. NFTs are digital items that can be an in-game skin, a cool weapon, or even an animal you can breed (think pokemon eggs). So instead of pouring money into a game for items, you don’t own you can actually benefit from your gameplay out of your game. 

What is the current economy of video games?

Most mainstream games do not use a play to earn economy. Their business model is like a one-way street to a dead-end for the players. Money gets into the ecosystem but it doesn’t leave. And once it is in there it does not circulate among players or peer to peer. They will have a ton of small cosmetic purchases like skins and emotes that don’t affect the game balance but will instead bring in a constant trickle of income from a player base after the initial download. Raid Shadow legends is a top-tier example of the freemium model. Players get the game for free and can then pay for the ability to get good champions via buying a ton of summoning tickets.

In recent memory, video game studios have been hammered over having loot crates. Loot crates are consumable digital items that have randomized game items. Encouraging players to buy boxes in bulk in order to get cool cosmetics. These cosmetics are often times locked to the player and can not be traded or sold. So they will sit in their inventory gathering dust. Using blockchain technology non-fungible items-aka items that cant be divided like a dollar into pennies- can be traded between players and be moved both in and outside of the game.

Mainstream mobile games are notorious for the freemium pay-to-win model. The freemium model is based on a player gets a game for free and are then encouraged to buy packs and boosts to skip hours of grinding. So a freemium game is often called “pay to win”

How will play to earn change the economy of video games and esports?

Let’s use an example of a popular game and how it’d look with play to earn. Call of Duty warzone is a free-to-play battle royale where the last player standing wins. As it stands now players buy new add ons, packs, and character skins. But players also have the ability to unlock blueprints from boxes found in the game. In a play-to-earn economy, players can earn a currency from kills, completing tasks or achievements, or surviving the second chance arena the gulag. They can take that currency and use it to buy packs with items they can sell or they can take that currency out of the game and exchange it for real money. Imagine having a daily task/achievement of committing a squad wipe (kill an entire team). That daily task could give you a couple of dollars in the currency that you can then turn around and buy the sniper blueprint you have been eyeing. As it stands now you could only purchase that skin with your own money from outside the game.

In a play-to-earn economy, every item now can have a verifiable rarity. So if a super popular COD streamer like Dr. Disrespect decides to make this into a time-limited NFT he can. A time-limited NFT is when a creator makes it to where anyone can claim a free NFT over a certain period of time or there is a sale that once it’s sold out it’s only available from other parties. And anyone who owns one can see the rarity of the item and sell it inside the in-game marketplace.

In the esports realm, everyone loves a champion. It’s a tradition that some games will do time-limited skins to celebrate a certain esports team winning the championship. As esports grows in popularity and the teams increase their brand their special in-game skins will become sought after. Like how rookie cards blow up when a player has a great career, imagine how popular the first championship skin be for the next big esports team. Typically these assets are not tradeable and players who try to sneak around often end up getting banned or scammed. And with influencers and sponsored assets, viewers can claim NFTs and say I was there when x happened and I have the NFT to prove it.

One of the biggest selling points for developers is that they can earn a percentage off of trades and sales in their marketplace. Say for example Fortnite has its own marketplace. And players buy and sell skins in USD. If say five percent of each sale goes to Epic games, it would not be long until they have a passive income from just releasing new skins and content and leaning on their healthy fanbase.

What type of play to earn games are currently available?

There seems to be more play to earn games popping up by the day. Some of the trends I have noticed are games that focused on breeding NFTs, you take two NFTs and make another one and sell that new one. And there’s competitive skill-based where you earn on how you place or after a win. One game in fact utilizes both breeding and win-based earning.

This revolutionary combination of game mechanics has led millions of players to try out Axie Infinity, the undisputed champion of play to earn. Activeplayer.io showcases that in the past 30 days there has been a monthly average of over 18,000,000 users play Axie Infinity.

Activeplayer.io
https://activeplayer.io/

I spoke with Tyranitar, a popular streamer in the NFT gaming space who is also a manager for Axie Infinity, about playing to earn with Axies.

“The play-to-earn aspect of Axie Infinity changes how I view gaming as a whole. When you start playing video games as a kid, it’s all about the fun. Nothing else seems to matter. I feel like as I grew older, I always looked for opportunities to try to earn money while playing video games. The idea of earning money while having fun gaming seems to be every kid’s dream! Who doesn’t want to make some cash while you game? Axie Infinity embodies that concept. Not only can you play a game that has both PvE and PvP, but you can earn money doing it. Each victory is money in your pocket, and I feel as though this is just the beginning!”

Tyranitar

Each victory is money in your pocket, and I feel as though this is just the beginning!

Axie Infinity has given players the opportunity to earn from their dedication and their skill. Usually, video games like Fortnite and Call of Duty give players a morale boost or bragging rights when they win. They can floss as much as they want, but they don’t get any IRL gains. Axie Infinity has shattered the stigma that video games are a waste of time. When players play and win matches against the AI in PVE or against other real people in PVP, they earn an in-game currency called SLP or Small Love Potion. It is what’s needed to “breed” axies or make another axie, like when you used to grind eggs in Pokemon. That ecosystem deserves its own dedicated article, but luckily you can see some of my Axie Market Recaps here

SLP can be withdrawn and traded on exchanges for crypto, meaning a player can play Axie Infinity, win some matches, cash out their winnings, and then sell it for crypto to turn into USD.

We have actually seen the ripple effect of Axie Infinity helping groups in the space. Yield Guild Games, or YGG, is a Decentralized Autonomous Organization dedicated to play to earn mechanics. They are investing in multiple games letting the players earn through the ecosystem. Some of these games are OGs in the space or are on the up and coming. Games like Splinterlands and ZED RUN are discussed below. But one game they are investing in is League of Kingdoms, an MMO where players can own land and earn rewards for leveling it up.

Axie Infinity is not the only game that has adopted play-to-earn mechanics. Here is a list of other games that utilize it to some degree. Several projects promise that they might implement or are looking into play to earn. These games are ones that have or are currently doing so.

CRYPTOFIGHTERS

Cryptofighters bills itself as one of the oldest, if not the first, play to earn game in the space. I was there at the very beginning and still own a few dozen fighters—some of which I minted from winning fights, back then it was super expensive to battle and cost hundreds of dollars in ETH to confirm. They have since taken the battle contract offline to preserve the rarity of the fighters. But as stated in this interview, it could be resumed. It’s hard to determine what the winnings are 4 years later but some of those NFTs that were won can be sold for approx 0.2 ETH as of this writing. 

SPLINTERLANDS

Splinterlands is an OG NFT project. Formerly known as Steemmonsters, it is a variation of trading card games like MTG. But instead of in real-time battle where you take turns playing cards and swinging for damage, the battle is automated based on where you placed your cards before the match. Players can earn cards from placing in the rankings and even compete in tournaments. Your earning capabilities are tethered to what tier you end up in at the end of the season, but you can do daily quests that give you free cards. And sometimes cards in this game go for a significant amount. 

Splinterlands
https://splinterlands.com/

ZED RUN


This is an NFT-based game horse racing game, in which users can bet on and breed racehorses in their digital stable. Each horse has its own unique characteristics, meaning you could end up with a champion stallion, or perhaps your horse is better equipped to be a stud. You can go to websites like know your horses and see the past earnings of your horses or even if the ones listed for sale are bad ROIs who never won a race.

LOST RELICS


Lost Relics another project that lets players earn, but not by payouts at the end of the season or race. Players can earn NFTs via drops, which is no different than when you kill a boss in WOW or Runescape. However, if you finish the dungeon, then you can claim the NFT and add it to your wallet. This is one of the more active forms of play with higher risk where you could technically get a drop but lose it forever if you die before finishing the level. If you’re curious about Lost Relics, I’ve covered this game before and how it looks to win items.

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