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Axie Infinity - AXS Token

The Doomed Economy – Axie Infinity

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Gaming and Crypto have been on a collision course for the past 2 years, but one project has emerged as the unequivocal leader. Axie Infinity is not just a game, it is a career now, for millions of people around the world, but the game has a fundamental, economic flaw.

Today I want to examine the doomed reality of Axie Infinity as a collection of little NFT creatures gets closer and closer to brutal economic collapse.

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30 Comments

  1. People would be better off doing a Diablo 3 style auction house at this point to just extract transaction fees

  2. Totally agree. Axie was always doomed to become a negative sum ecoystem because it's not a game, but an investment tool. The "1%" of the game will put capital in with the expectation of taking more out, and the players below them will only take money out without putting anything in because for them, it isn't a game at all, but work. This will inevitably lead to collapse because the only way to counter this is infinite growth. But because that's impossible, you end up in a sitaution where money is only being exchanged for more money. It's simply not possible for investors to continue seeing an ROI in a system in which no product is actually being sold. If no one is giving money to simply play the game and use the product, where will the money keep coming from?

    All of this is to say that the concept itself is intrinsically flawed. Work is antithetical to play. Axie Infinity isn't a game at all, it isn't meant to be played. For an underpaid labor force, it's simply gamified work, and for the privileged few, it's literally just a Ponzi scheme for them to jump in on before the bubble bursts.

  3. Despite this being a complete distaster, I find the economics explained here to be absolutely fascinating!

  4. The problem is they spread unrealistic expectation to my country men, Like 1.) the game is the future of esport, 2.) It's next pokemon game and major corporation are not doing the same thing is because they are far advanced from those Triple A companies. 3.) axies is the worth are the same as tangible collectible would be worth in the future. And a lot more like making it believe as a get-rich-quick-scheme on social media even it's not feasible anymore because of numerous change on cash flow and structure. The founder itself is a lier and their supporter here YGG is spread misinformation to have a unrealistic expectation with Axie Infinity.

  5. I am so happy to see idiots with more money than sense loose it all to scams . If you are dumb enough to be had (scammed) , then you deserve to be had(scammed). Dont hate the player hate the game and all the lemmings that cant think for themselves.

  6. but hey they lost 600million, it is good time to start bying axis and make profit. Right?

  7. This video is exceptionally myopic and misinformed. Axie Infinity is In Beta. The battle system is a single facet of the ecosystem. The game (as currently released) is not the final product with the sum of its economic features in palce. It is not meant to be a stable economy at this point in time. This has been known since before the game was released. Not all of the burning mechanics have been released yet.

    Yes, the economy is broken and doesnt make sense……because its not supposed to. It is simply a revenue generating stage for the development of the rest of the game. It is no different than a playable kickstarter or beta steam game. You are reducing a facet of ALL economics to be exclusive to P2E as to imply a pyramid scheme. Once the axies have been minted (tools have been purchased) you are exchanging labor for pay equal to the productivity it generates just like every other job. That job pays based upon people putting in "new money" to that company based on demand for that product.

  8. Dang! Me and my brother almost invest in this game. Luckily my brother decided to back-out after he saw that the slp is declining everyday.

  9. "beh, cr lang ako."

    no be. don't say that. youre more than just a cr. everytime na maiisip mo na "cr lang ako" no. youre a wonderful person and we appreciate you so much. hindi biro maging cr. it must've been tough pero you did it. you're so strong kaya sobrang proud kami sayo.

  10. The only people who expect to get infinite ressources from a finite amount are either fools or economists…

  11. It's just another pyramid scheme, just like most everything blockchain. Most people earn next to nothing while money is funneled upward to a select handful of people. Even if the game wasn't intended to be a scam, that is the inevitable end product of these play to earn games. They need a constant influx of people on the bottom to keep the people higher up happy, except there's not enough people who even understand it enough to try and get into it making its lifespan particularly short.

  12. My cousins told me to play this game to earn money. But after looking at how money is generated, I didnt. The way I see it, is that this basically is just a ponzi scheme but with a delayed collapse. There literally is no other way to get money other than hoping for new players. The worst part is they are like fanatic when someone points this out.

  13. Live in the Philippines I am lucky as all hell this thing is practically shunned In my city young folks here are more interested in hentai then nft games much more productive if I do say so myself

  14. A'ight, time for too much effort into a comment nobody will read because comments without upvotes get buried forever.

    I don't understand at all why people think you need NFTs or cryptocurrency for a "play-to-earn" model (aside from tax evasion, maybe). I really think that Diablo III had a reasonable idea with its cash auction house. Personally I've never played Diablo III. I don't really want to. I'm taking a wild guess, but I feel like the cash auction house would've had a better chance of succeeding if the game weren't called Diablo III and if there were no in-game Monopoly money (in this case Gold) at all (not charging to list items on the Auction House also probably would've helped, but let's not get carried away). Even having the Monopoly money with the intent that it is exclusively used for buying from and selling to NPCs would be problematic because it'd at worst potentially allow players to put a Monopoly money price tag on things by proxy of items purchased from NPCs, which would damage the effectiveness of the cash auction house, and at best would still probably be more trouble than it's worth.

    Sometimes if you want players to interact with something you need to force them to by not giving them a familiar alternative, so in this case you'd have to force them to handle actual cash, and you could make this accessible by not requiring them to give you a credit card number on sign-up, instead just allow them to hold anything they get from sales in an in-game wallet that lets them buy in-game items in a painless manner, and if they decide they want to cash out later then let them provide a card then.

    The snag with that theory, of course, is that you also need to have a game that people want to play in the first place. You can't exclusively market it to the crowd who would be enticed by the "play-to-earn" model, you also need people who'll get the ball rolling by putting money into the game in the first place without the expectation that at a later time they're supposed to get back more than they spent, the casual players and time-strapped players who find it preferable to just buy a stack of potions or a weapon or whatever than spend however much time it would taking manually generating those things so that they can do the flashier content faster. I think this is a really common point of failure in the "play-to-earn" model in that "play-to-earn" games tend to market exclusively to people who want to earn, and forget to build a game that other people will be satisfied to play without getting out with more money than they put in. There are people who play Team Fortress 2 to try to turn a profit, yes, but there are many, many more people who just want to play the funny hat game with the Pootis man and couldn't care less about trying to profit.

    There's obviously more than what I've said that would go into the design of a game that is built around a cash auction house, making sure at least most items have some sort of longevity and stuff like that, but getting any further into it wouldn't be worth the effort. The important takeaway here is that for a "play-to-earn" game to work, it must be a game that most people will be satisfied playing even if they don't "earn". That seems to be the pitfall that things like Axie Infinity here and Earth 2 fall into, they try to cater exclusively to investors who want a return on investment and forget to have a game that would actually be able to stand up on its own even if it didn't have the "play-to-earn" aspect. If you have a "play-to-earn" game that nobody would buy if you were to sell it for an upfront cost with all the "play-to-earn" aspects gutted (to refer to the example above, such as replacing the cash auction house with a traditional Monopoly money auction house), then its failure is basically a given.

    My closing statement is this. Free to play games almost universally have a cash shop to actually make money. Games like Axie Infinity try to turn their players into the cash shop, which is half of the puzzle. The other half which these games fail completely at solving is not trying to make all of their players the cash shop, and instead having enough game to draw in players who don't want to be the cash shop and who are satisfied by just playing the game and using the cash shop. It may be niche, but this is why SecondLife works, it leaves the door open for its players to be the cash shop but you don't need to be the cash shop in order to have a satisfactory experience.

  15. So Axie Infinity is basically a live service game and a gacha game, except in the blockchain.

  16. Last year this time I saw an add for axie and ignored it based on how it looked. Turns out that was the peak of the currency you gain by playing. The token was .46 and you mine 220 a day… That's 3k a month. When I decided to take a serious look around October it had rode all the way down to .02 cents. Wish I had rode that all the way down lol.

  17. 30% scholarship? never seen that, all I see over here in brazil is 50/50 at BEST. everybody jumped ship here.

  18. ok so add a danger mode where an axie can actually die and be lost. hardcore style. i feel like this stuff has kinks to work out but in the end digital goods are real goods and i should be able to make money from it

  19. Also hate this game as well. Sky Mavis, the company behind the game, loves to use poverty porn to advertise this game. Most Filipinos got hooked to this NFT ponzi game due to ads claiming that they are helping the poor and they spread these ads on social medias. They also use this to get moral high ground so they wont be criticized on their ponzi schemes. They ban people outright in discord if you criticize their game and their ads.

  20. I player a game called BombCrypto, and invest around 300 usd and I got nothing. Crypto is only viable if you started it. Invert, earn, then leave. That's how people earn money.

  21. blah blah blah , you ever made a game before man, if you're not a game dev i dont think you should speak on this

  22. Great video. I heard about that game and the play-to-earn concept when Axie Infinity was at its peak and you needed to pay about $1k just to start playing. I dismissed it as a pyramid scheme where the money people earn comes from this initial investment. I forgot about it until the recent hack. It's interesting to learn what has happened to this "games" "economy" in the meantime.

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