Join Jeff Zirlin, cofounder of Sky Mavis, and Gabby Dizon, cofounder of Yield Guild Games, as they dive into the revolutionary world of play-to-earn gaming. They discuss how Axie Infinity allows players to earn real money through their gaming efforts, transforming traditional gaming models. The conversation covers the dramatic impacts of blockchain on gaming economies and the barriers players face, particularly in places like the Philippines. They also explore the evolving dynamics of community engagement and new job roles in this innovative space.
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question_answer ANECDOTE
Origins of Axie
Axie Infinity's founders came from the CryptoKitty community.
They realized a link between NFT production and actual effort was needed to prevent hyperinflation.
insights INSIGHT
Play-to-Earn Potential
Tokenizing in-game experience points and creating a liquidity pool revealed a calculable hourly wage for playing.
This realization highlighted the potential of Play-to-Earn.
question_answer ANECDOTE
Axie in the Philippines
During the Philippines' lockdown, many Filipinos turned to Axie to cope with economic hardship.
These were regular people, not crypto enthusiasts, seeking income.
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In today's episode we’re talking about an emerging model of gaming called play to earn, in which players can make actual money based on how much time and effort they put into a game. Play to earn is also part of broader trends — the changing relationship between players and platforms, new incentives for participants in blockchain-based networks, and the new internet era that is coming to be known as a web3.
The top play-to-earn game is called Axie Infinity, operated by a Vietnam-based company called Sky Mavis. Players of the game acquire unique digital pets called Axies, and battle other teams of Axies. These NFT Axies can be created and sold using the game’s in-game currency, SLP, which can be traded for traditional currency.
Think of it as Pokemon on the blockchain, with a social network built-in, and an actual economy, and even companies built around the game that help players onboard and loan them money to get started playing. The game has made more than $3 billion in total sales since launching in March 2018, with much of its early growth in the Philippines.
(As a reminder, none of the following should be taken as investment advice, please see a16z.com/disclosures for more important information.)
Our guests today are Jeff Zirlin, the cofounder of Sky Mavis; Gabby Dizon, the cofounder of Yield Guild Games, a play to earn gaming guild that gives players the resources to start playing; and a16z crypto general partner Arianna Simpson.
They talk to a16z's Zoran Basich about the tech trends that enabled the emergence of play to earn, why and where it caught on first, and the role of community, as well as the challenges, which include onboarding and scalability, and the economic sustainability of this model. The panel also discusses what the play-to-earn movement say about the future of work.
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