NFT big scam: make millions by playing games in half a year? Sniping global gamblers

A shelf, dozens of mobile phones, a group control system, and dozens of Axie Infinity game accounts are connected to the back , creating a daily revenue of up to seven or eight hundred dollars for Chen Zheng.

“I never dreamed that one day I would take the game that I despised to move bricks as my main business.” You know, the game “brick movers” have been the biggest enemies of his career for a long time.

Things should start in March of this year. At that time, Chen Zheng’s game company had a tight capital flow, several business units were disbanded, and he became one of the thousands of unemployed. The Shanghai game industry is fighting fiercely. Chen Zheng intends to study the freshest game products on the market, so as to enter the large-scale plating gold factory.

He started to get in touch with Axie Infinity, which is hot overseas, and was caught in it for a while.

Axie Infinity gave Chen Zheng the impression that he was “shocked.” Many of the inherent concepts of the game were subverted by this game.

With simple graphics, old game mechanics, and lackluster playability, such a game has become a mess overseas. In order to dig out the truth behind the Axie Infinity explosion, Chen Zheng decided to join it and become a member of the thousands of “crab army”.

From the end of March to the beginning of October, he invested 350,000 yuan and earned more than one million dollars. Now when it comes to resumption, Chen Zheng still feels “unreal”-the money is coming too fast.

This way of coming in money has continuously magnified his own game psychology. While playing the game, he started to speculate coins because of the demand for cash. A man who treated himself rigorously for a long time was corrupted by this game and became a “gambler” in more than half a year.

It is difficult for people who have made quick money at the gambling table to look back.

In the past six months, the biggest outlets in the crypto market have been Meta Universe, Chain Games and NFT. As the representative of chain games, Axie Infinity has achieved a daily revenue of 20 million U.S. dollars by selling NFT pets .

In the past six months, NFT rooted in blockchain technology has exploded from the encrypted world to the real world, attracting global attention. Behind the sky-high avatar, huge revenue, and amazing data are the challenges and impacts that the digital world has launched on traditional industries.

Put in $2100 and play games at home every day, and you can earn $60 a day. This sounds like a cyber scam, but it is the real scene of the blockchain NFT game Axie Infinity.

NFT, the full name of Non-FungibleToken-non-fungible token. This is a token with uniqueness and indivisibility. Each token is unique, indivisible and interchangeable.

The common digital currencies in the market are interchangeable, such as BTC . There is no difference between each BTC. You can split and use non-integer numbers such as 0.1 and 0.2 for transfer, and every token of NFT tokens has Unique mark and cannot be divided.

NFT tokens are mainly used in games, artworks, domain names, collectibles, virtual assets, real assets tokenization (STO) and other fields. Some game props and artworks are naturally unique and inseparable, which are just coupled with NFT, which can effectively prevent the forgery and fraud of such items.

The chain game launched based on the characteristics of NFT is the final product that combines gameplay with NFT. Most of this technology is used in the development and card placement games that have a higher degree of compatibility and relatively low development difficulty. Games can be launched quickly after hot spots appear to cater to market traffic needs.

In 2018, taking advantage of the popularity of CryptoKitties and Pokémon, Vietnamese game developer SkyMavis developed a similar game Axie Infinity on Ethereum, which integrates cute pet development, rivalry, and business strategy.

If placed on an ordinary track, this game will probably cool down as quickly as most Pokémon-like games, but Axie Infinity has embarked on an unusual path, NFT chain game.

Traditional games highly centralized, game developers complete control of control over the entire game, the economic system is highly regulated, and the chain travel is decentralized through the block chain, transparency, traceability and interests through certificates and other characteristics, the more Multiple sovereignty and ownership are given to players, allowing the game economic system to be completely liberalized.

The earliest explosion of NFT can be traced back to 2017, when the ERC-721 blockchain game Encrypted Cat: In this game, every cat can be traded, and because of the logic of non-homogeneous tokens, Each cat has different attributes, corresponding to different prices.

Once the crypto kit was launched, it became popular in the crypto world, and even caused massive congestion in Ethereum, bringing the concept of NFT into flames. But it quickly lost market enthusiasm due to single gameplay and high prices.

It is Axie Infinity that really makes NFT chain games well-known to the public.

NFT big scam: make millions by playing games in half a year? Sniping global gamblers

Similar to Pokémon, Axie players can breed, breed or trade small pets called Axies in the game, and get rewards through battles and tasks. But unlike Pokémon, SkyMavis directly uses the tokens issued by Ethereum to establish the game’s economic system.

There are two token assets in the game, one is the governance token AXS, which can be rewarded through monthly rankings, which can not only be used for the breeding of Axie, but also can participate in the governance voting of the game development plan.

The other is SLP (Small Love Portion), which is different from the governance token AXS. SLP is forged through gameplay as an incentive for players in battle or adventure mode. It has a nice name in the game-“Love Potion”. This token can be used for breeding between Axies, and its purpose is to breed Axies with favorable characteristics, so that the team can win more battles.

Players who want to incubate pets with stronger combat effectiveness must have SLP, and if they want to win SLP, they must have strong pets, thus forming a cycle of mutual promotion. As more and more new users enter the ecosystem, they need more Axies to participate in the game, which leads to increased demand for SLP and corresponding price increases.

Both of these assets can be directly transferred to exchanges for fiat currency. Relying on this unique economic system, SkyMavis has built axie into the world’s largest “online earning” plate.

At the beginning of 2021, a large-scale new crown epidemic broke out in the Philippines, and employment was severely impacted. The unemployment rate was as high as 40% at one time. Under the banner of “playing and earning”, Axie Infinity rose rapidly during the epidemic.

In just half a year, Axie Infinity’s daily active users soared from 38,000 to 2 million, and the transaction volume reached 1 billion U.S. dollars, reaching the highest transaction volume in Ethereum’s history, and daily active users exceeded 1 million. Among these users, 30% are from the Philippines.

Compared with traditional pet raising games, the biggest feature of Axie pets is their uniqueness. Each Axies will have a unique number, appearance, function and different pricing.

To participate in this game, the threshold is not low-at least 3 Axie pets are required to form a team to start the game journey.

At the beginning of the game, the only way to get Axie is to buy it with Ethereum. Three Axies require 0.42 ETH. In order to cope with the entry barrier of nearly two thousand dollars, the game guild in the Philippines has even spawned a business that provides players with initial start-up capital loans.

After purchasing Axie, players can start the game. There are two ways to play Axie Infinity, one is the adventure mode, which is simply understood as the PVE upgrade gameplay in traditional games, and the other is the competitive mode, which is a PVP battle between players.

The higher the level of the match, the higher the token rewards the winner will get.

When the price of Ethereum reached $5,000 in May, Axie’s token slp also rose to $0.4. According to the calculation of the income of 150 slp (now halved) produced by axie for daily tasks, it is possible to earn $60 in income per day, which is higher than the salary of white-collar workers in many countries.

NFT big scam: make millions by playing games in half a year? Sniping global gamblers

Axie Infinity earns $550 million in monthly income

So this tepid game after its launch in 2018, driven by the epidemic, quickly became popular in the Philippines and continued to spread to the world. The crazy growth of users has brought about the rise of currency prices. In May and July of this year, when the entire currency circle was crying, AXS rose against the trend, breaking the traditional situation of the entire currency circle fluctuating with the BTC and ETH market, and stepped out of it. Beautiful independent quotes.

In fact, from the perspective of playability, Axie Infinity cannot be compared with traditional games at all. The overall level is about the same as that of QQ pets, parking spaces, and Moore Manor more than ten years ago, compared to LOL, the original god, and the glory of the king. A game that requires both brain and hands is like playing house.

But even so, this game with an amazing revenue of 24 million U.S. dollars per day and 550 million monthly income, directly more than twice the glory of the original god and the king -you know, the original god with a monthly income of 233 million and the king of 270 million US dollars Glory is already the absolute head in the mobile game world.

Currently, Axie Infinity’s data is still growing.

It’s so hard to play, why is the data still growing so fast?

This will return to the blockchain world where Axie Infinity is located. The bottom layer of chain games like Axie Infinity is the decentralized logic of the blockchain, which relies on cryptocurrency to operate, and the core is an economic model, not a game. Simply put, everyone is playing Axie Infinity for money, not for entertainment.

For Axie Infinity, the biggest difference between it and traditional games is that the money that traditional games make from users is owned by channel vendors and developers. For example, the income of King Glory goes to Tencent , and a large part of Axie Infinity’s income is also To the user.

In addition to the slp that can be obtained through gameplay, Axie Infinity also has a variety of distribution mechanisms, such as the governance rights of the user’s game ecology through AXS, and the benefits of token appreciation. Since October last year, the price of AXS has risen from US$0.1 to US$135, an increase of more than 1,300 times, and its market value has reached US$8 billion. A large number of players have gained huge benefits from the rapid growth of Axie Infinity.

In addition, gold coins and skins in traditional games are only disposable consumer goods purchased by consumers from the game. They will depreciate due to game changes or version updates, and they do not have the effect of maintaining value. The gold coins, pets, and game items in Axie Infinity can be exchanged for real money, and the liquidity of these game assets is not bad.

NFT big scam: make millions by playing games in half a year? Sniping global gamblers

From the perspective of money, Axie Infinity takes out all the money that was originally swallowed by most game developers and distributors, and distributes it to users in the form of game assets, so that everyone who participates in growth and contributes benefits.

From the perspective of power, Axie Infinity allows users to participate in the development of the game’s development strategy and rule-making through governance tokens, and puts the power of developers in the cage to ensure the security and fairness of the interests of players.

Relying on these two points, developers and players are tied together instead of opposing each other like traditional centralized games.

Since its birth, the concept of NFT chain games has been around for nearly five years, but it has always accounted for the name of the game. It is actually an economic model similar to the Ponzi scheme . They are all rushing to make money.

Over time, as the popularity decreases, the number of users decreases. Players who spend a lot of money will only end up losing money. Early crypto cats and Wright dogs are examples.

The emergence of Axie Infinity seems to have broken this deadlock. The explosive growth of this game has allowed the concept of NFT chain travel and meta universe to succeed. At the same time, the integration of playability and NFT chain games, as well as user retention and stickiness, all show more possibilities through this game.

Ideals are beautiful, but they may not necessarily become reality.

The market still has great doubts about Axie Infinity, and its economic model still has the shadow of a Ponzi scheme-relying on playing and making a circle to obtain a lot of traffic, thereby urging high currency prices to continuously attract newcomers to the market. If the price of the currency keeps rising, this is of course happy for everyone, but if the price of the currency falls, the entire game economic system is at risk of collapse.

Those who have advanced to the market earn the money of latecomers, and when no one enters the market, naturally there will be no money to make. After all, it’s better to beat the drum to spread the thunder, depending on whose hand the thunder is exploding.

The shortcomings of the entire Axie Infinity model can be seen in the market. The only way to break the game is to make a breakthrough in game playability and change the overall mode of the game. Just like traditional online games, some people come to play games and some come to live by moving bricks.

Those who come for the game are willing to stay and spend money to get happiness because of the playability; those who come for life pay the cost of time to obtain tokens in exchange for economic benefits, one production and one consumption, to maintain a balance.

At present, it is still a big problem for developers and players to establish a virtuous circle ecosystem.

Although the chain game is a game, its mechanism is mixed with currency circulation, commodity supply and demand, production and reproduction. The experience of traditional games does not play a big role here, and it can only be explored while developing.

In addition, compliance is also a huge risk faced by Axie Infinity and many NFT games: game assets directly become tokens, linked to digital currencies, and can be quickly exchanged into fiat currencies of various countries on exchanges. The financial control policies of China will directly collide or even form opposition.

The greater risk is that cryptocurrency is difficult to be regulated and naturally easily becomes a money laundering tool. Big bearer Jim Chanos said that NFT traders can set false and inflated market prices, and then issue another set of NFTs for public purchase at a so-called steep discount. “So they can profit from the 10-fold increase they just made. This is as old as the market. This is money laundering.”

For NFTs and chain games, it is not easy to find a balance to obtain living space.

Although the prospects are not clear, the dazzling data created by head projects such as CryptoPunk and Axie Infinity have already aroused the interest of giants.

As early as 3 years ago, Tencent implanted blockchain NFT elements in the pet cats in its pet development game “Let’s Catch the Demon”.

On August 27 this year, the American game giant EA released a job posting on LinkedIn, seeking senior brand directors proficient in cryptocurrency, and preparing to explore blockchain and NFT.

On September 23, the Internet company Ninth City (Nasdaq: NCTY), Polygon and Filecoin development operator Protocol Labs jointly announced that the three parties have reached an ecological cooperation to jointly promote the ecological construction of the NFT platform NFTSTAR and GameFi projects in the Ninth City. On the same day, the former game giant Neopets announced the launch of the NFT series “Neopets Metaverse Series”, which is currently scheduled to be released in mid-October.

Obviously, the ability of NFT games to attract gold has made many traditional manufacturers smell the meat and come across borders one after another.

Compared with the fierce competition in the traditional game market, the chain game segment is still a blue ocean. Most of the products on the market are just under the name of the game, but they do not have the slightest playability. This is the game of the established manufacturers of the game. Chance.

However, in most countries around the world, under the background of major policies that are not friendly to decentralized blockchains and cryptocurrencies, the big companies that have rushed into the game can make NFT chain games recognized by the market and the government. Question mark.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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