![]() In the month of August, NFT exchange OpenSea hit $3B in monthly volume as over 1.5 million NFTs changed hands. They must also offset the number of players seeking to extract a profit with players who are pure consumers - i.e. Ultimately, Sky Mavis has to keep the SLP supply in-check while improving overall gameplay to keep its player economy and ETH deposits growing. These dynamics could have an impact on NFT market prices, which in turn may have a direct effect on the economics for players - a possible negative feedback loop. And since breeding is priced in SLP, additional supply of SLP equates to cheaper breeding fees to create new Axie NFTs, inflating Axie NFT supply. Winning Axie Infinity battles and quests yields SLP, inflating the SLP supply. A powerful positive feedback loop no doubt - but what if market conditions change? With rising SLP prices, playing becomes more profitable, encouraging others to join. Breeding requires fees paid in SLP & AXS, leading to a rise in token prices. Higher NFT prices have made breeding more profitable. Increased demand for Axie NFTs has led to rising Axie NFT prices. Just like a real economy, digital economies have to consider the effects of inflation.ĮTH has been flowing into the Axie economy due to high demand for Axie NFTs. ![]() Where the Fed has various tools it uses to influence the economy, Sky Mavis can adjust the SLP issuance rate and breeding fees with the aim of keeping the Axie economy healthy. If Axie Infinity is its own digital nation, game developer Sky Mavis serves as its Federal Reserve. YGG has also made early stage investments across 8 play-to-earn games via SAFT (Simple Agreement for Future Tokens), and locked in ~$1M for yield farming in blue-chip DeFi projects. Axie Infinity NFTs comprised close to 90% of that value. By the end of July, the YGG treasury had amassed 19,460 NFTs valued at over $10M across 12 play-to-earn games. Much of YGG’s capital has been put to work buying NFTs that can earn yield from play-to-earn games. The YGG token is part of Yield Guild Game’s plan to transition into a community-governed DAO.The price of YGG has tripled in August, meaning their treasury currently stands at over $1B. They also raised $12.49M from the sale of the YGG governance token, while holding 13.3% of its outstanding supply.Īs of the end of July, the YGG wallet’s holdings stood at $415M, with the majority stemming from the YGG token ($373M). The project has been funded by a $1.325M seed round led by Delphi Digital and another $4.6M round from a16z. The same research found around 26 million people - nearly one quarter of the population - were impacted by those latest lockdowns.The YGG treasury consists of tokens and stablecoins held in a wallet, NFTs, and venture investments made in various play-to-earn games. Several cities saw a spike in cases toward the end of March, which resulted in new mandatory lockdowns. ![]() GDP contracted 9.6% in 2020, the largest annual decline ever recorded since data collection began in 1946, according to IHS Markit. While the digital game knows no borders, it has really taken off in the Philippines, which has been hit hard by the pandemic. ![]() Nearly 60,000 people are now playing Axie Infinity, Axie's head of growth Jeffrey Zirlin told CNBC. The phenomenon that first began last summer exploded after a Coindesk article published in August significantly boosted the player base, according to the documentary. A new mini documentary, released Thursday on YouTube by crypto consulting firm Emfarsis and gaming company Yield Guild Games called "Play-to-Earn," follows several Filipino people who play the game - a mother, three young entrepreneurs, a recent college graduate, a pedicab driver, an elderly married couple and one of the first people in Cabanatuan City to discover Axie Infinity. ![]()
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