Play to win NFT games like Axie Spark Pyramid Scheme Debate
NFT and Play-To-Earn games have become the next big thing in the gaming industry over the past few weeks.
Unless you’re one of the very few early adopters, you probably don’t even have to have heard of the games to win. The whole concept was ridiculous to many until Infinite Axis took off. In the Philippines, people who gambled earned more than three times the minimum wage in the Philippines.
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Shortly thereafter, Facebook announced that it was changing its name to Meta, and it believes Metaverse is the future. What followed was absolute madness around the term, with gambling cryptos like SAND, MANA and many more multiplying many times in terms of market cap.
Play to win NFT games like Axie Infinity Spark Pyramid Scheme Debat
We have recently seen a number of developers take an interest in the game model to win. Ubisoft recently announced that it is looking to integrate the blockchain model into its games, creating games to be won. While we have yet to see more widespread adoption of the technology, some plausible claims have been made against the whole concept.
Yesterday prominent gaming journalist Jason schreier shared a tweet in which he states he’s trying to figure out the business model behind these games. He illustrates in a picture, and while it might seem quite silly at first, it does raise some valid points.
It essentially highlights the concept that all the hype of games to win is nothing but a glorified pyramid scheme. A number of people, including Jason, have expressed concerns that these games are being screened in a way that they don’t make a lot of money if they don’t participate in the project on Day 1.
Granted, the model has benefited a lot in some countries, but it comes at the cost of something, and that’s exactly what these developers fail to explain. Indeed, Axie mentions on its website that the economy depends entirely on new entrants. If loot boxes and microtransactions are looked down upon, then all the hype around and games to be won is pretty ironic, to say the least.
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