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.

Jeff "Jihoz" Zirlin, co-founder of Axie Infinity and Ronin, dives into his journey of creating a massive user base in the Web3 gaming world. He shares how Ronin emerged from the challenges of scaling on Ethereum, resulting in a platform that now supports millions of users. Jihoz discusses the transformative impact on communities in the Philippines, Vietnam, and Brazil, turning gaming into an economic engine. His strategies for fostering community engagement and genuine utility shine a light on how players' emotional connections redefine success in gaming.

Jeff Zirlin, Sky Mavis co-founder, talks about the rapid growth of Ronin blockchain, focusing on the game Pixels and Play-to-Earn model. They discuss the resurgence of blockchain in gaming, mainstream adoption, innovation in Web3 technology, and the entry of IP holders into the gaming sector.