But Like, What If We Could Actually Earn Real Money In Video Games?
It’s been talked about, dreamt about, and recently - shared about. Earning currency in video games has always existed, but finally a currency that can be paired and directly swapped with IRL FIAT currency.
Now we can truly observe the shapeshifting characteristics the metaverse has to offer.
Paid-To-Play, aka Twitch creators live streaming their video game endeavours for donations and ad revenue is nothing new. Players such as Ninja, Tfue and Faze Clan have all carved successful careers through sharing their content across multiple platforms to their subscribers. Perhaps the word ‘successful’ is a slight understatement, we’re talking about some of these streamers generating 10s of millions of dollars in revenue. All from an industry that not many knew of 4-5 years ago.
The concept of live streaming, when really boiled down, enables users from anywhere on earth to generate an income and make a living. This is where the money has been for video games. Tournaments payout, but nowhere near as much.
But what to do if you’re not sold on being in front of the camera, sharing your reactions with a couple hundred thousand people? What if you’re isolated within a rural area in a 3rd world country with no access to high speed internet, a good quality streaming camera, or even a bank account?
Introducing: Axie Infinity.
Axie Infinity is, get ready, an NFT based video game that runs off of Ethereum network based cryptocurrencies. Amongst metaverse enthusiasts, NFT collectors, and crypto lovers - Axie Infinity is looked upon as a trailblazer, and will likely be highly credited in future lookbacks on the development and boom of the metaverse.
How Does It Work?
Often described as a cross between trading and battling, Axie Infinity allows players to collect, breed, raise, battle and trade virtual creatures known as ‘Axies’.
You probably guessed it: these creatures are essentially NFTs.
During the height of the pandemic in mid 2020, it was reported that early adopters in the Philippines were playing the game as their main source of income. Thus sparking a boom in user intake, as the game began to take off globally. Stories had emerged of teenagers in poverty stricken areas across Asia and Africa generating higher incomes than their living blocks combined.
Although described as a form of gambling, the in-game token AXS, is available to trade and swap on Binance and multiple decentralized exchanges.
Head over to https://axieinfinity.com/ to find out more.
We’re anticipating the rise of several other similar projects over the course of the new year - be sure to keep your eyes peeled!