a16z: Why should we invest in Axie Infinity

“Your profit is my opportunity”-Jeff Bezos, founder of Amazon, a global e-commerce giant.

Jeff Bezos’s famous saying refers to Amazon’s increase in market share by lowering prices and cannibalizing the profits of competitors. In the transition from Web2 to Web3, similar trends are taking shape, but this time, the opportunities for entrepreneurs are Yes: The Web2 platform has an excessively high usage rate. In Web3, thanks to innovations such as NFT, ownership and control are decentralized, which means that the value created by the new generation of Internet services and products built in Web 3 can be created by the builders and creators of services and products. Share directly with users, no longer need a platform (the so-called “middleman”). As we know, this trend is rapidly changing the network, especially in the gaming industry, the most obvious and exciting.

Over the years, crypto games have not been accepted by the masses of players, and their niche user experience has always been considered to be designed only for a very small number of early adopters. In theory, applying Web3’s values ​​and spirit in the gaming industry—recovering power and wealth from some platforms that “derive user value” and redistributing them to those who truly participate in these ecosystems—for the entire industry It makes sense. However, in practice, the scalability of the blockchain has brought certain challenges. After all, as an emerging technology, the speed and cost of the blockchain seem to be unable to meet the development of game applications, let alone highly volatile. The encryption cycle, so in the past for a long time, it was difficult for us to build a decentralized game that allows more people to participate.

 The extraordinary thing about the Sky Mavis team ( the development company of Axie Infinity ) is that they can build interesting and engaging consumer experiences while also having the ability to expand the infrastructure in ways that support extraordinary growth. The Axie Infinity game is the culmination of the team’s painstaking efforts. It has experienced amazing growth this year. Like many people who are building cryptocurrencies, the Sky Mavis team is still committed to fun , Easy access and empowering ordinary people, etc., bring the vision of economic freedom to people all over the world. They also realized that in order to be able to recommend blockchain games to millions of people, they also need to develop more usable technical solutions to support large-scale growth, so the Sky Mavis team successfully developed the Ronin sidechain. From a traditional point of view, the encryption industry generally prefers users who know a little bit of technology. If you are not familiar with this field, participating in the experience may feel “very scary.” Compared with other blockchain services and products, Axie Infinity introduces a new way of experience, allowing anyone to use Play-to-Earn (P2E) (“play and earn”) to convert time into money, This mechanism allows gamers to convert their skills and time into tokenized in-game item income and distribution rights.

Axie Infinity is a digital pet world and an economy owned by players, including breeding games, battle games, and clash-style land games. The consistent and unified main line of this game is its NFT character Axie . These NFTs can not only be used in games , And can be traded on the secondary market. Players earn SLP tokens by winning battles in the Axie Infinity game. They use a combination of SLP and AXS governance tokens to cultivate new Axies NFTs. Thanks to the persistence, hard work, innovation and firm commitment of the Sky Mavis team, Axie Infinity has now become one of the fastest growing games in the world. It is no exaggeration to say that Sky Mavis and Axie Infinity have pushed the Play-to-Earn (P2E) game mode to the mainstream. In the process, the game, the traditional industry category, has also been completely redefined.

The growth story of Axie allows us to see the power of the P2E game revolution, which has also resonated with many people all over the world, and has surpassed the original environment of cryptocurrency. Frankly speaking, Axie has now developed into the largest NFT game ecosystem, and has gathered more than 1.8 million daily active players worldwide. In addition, Axie Infinity’s average daily transaction volume has reached 33 million US dollars, and the total transaction volume exceeds 2 billion U.S. dollars. Given that Axie is not yet available in the Apple App Store or Google App Store, these numbers are even more impressive.

In the Web2 era of the Internet, the economic benefits of games did not flow to game players. Although players spent a lot of time building their own game characters, acquiring assets, and creating game worlds-but at the end of the game, except you feel that you are playing very well. Apart from being happy, there is nothing to gain. Axie Infinity solves this problem, not only allows players to experience their favorite games and have fun, but also participate in the community and earn economic income. “Playing while earning” is a very powerful idea: it means that games are no longer pure entertainment, but have entered the field of “income-generating”. Axie Infinity is changing gaming communities around the world, and may even replace traditional forms of employment. As gamers help each other, people’s lives will also change.

Axie Infinity fully embodies the potential of a new generation of games. Game creators don’t have to worry about being suppressed by monopolies. As an open and free market economy, the games they develop allow players to enter and exit freely. As blockchain games become more successful and popular, the brand-new model of “playing and earning” allows gamers to truly own all aspects of the game and benefit from their contributions. As Axie Infinity proved-as long as the players are given freedom and ownership in the game experience, players will bring huge loyalty, which means a lot to the future development of the entire game industry, and for the Internet as we know it, it is even more important. Opened up an infinite space of imagination.

(Planet O-daily Note: On October 5, Sky Mavis, the development company behind the “playing and earning” (P2E) game Axie Infinity, announced the completion of US$152 million in Series B financing, led by Andreessen Horowitz (a16z), Participants include Accel and Paradigm. It is reported that Sky Mavis plans to use this latest financing to expand the size of the team, expand the infrastructure and build its own distribution platform The Mavis Hub to support game developers to create blockchain games.)

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/a16z-why-should-we-invest-in-axie-infinity/
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