remember Pokemon cards,
you could collect them and use them in battles with other players.
Now there's this game called Acsi infinity that's built off that same concept.
But this time these game characters are N.
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T.
S and you can make real money from owning them.
Acsi infinity is an example of a play to earn game.
A new model in online video games that allows players to generate an income from earning
crypto currencies or N.
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T.
S.
No more.
Will the game studios be able to capture 100% of the revenue?
So how do you play to earn games work and what can this model teach us about the metaverse?
Play to earn is just 1% of the global video game industry but it has garnered an
enthusiastic community that believes in the future of N.
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Video games and its potential to shape the metaverse.
Gaming's pushed a lot of industries forward in its time.
I think it's going to be the forefront of N.
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S.
I think it's gonna be the forefront of the metaverse.
The concept of buying virtual goods and video games isn't new but play to earn games turn
these goods into N.
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S which allows players to sell them for a profit.
N.
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T.
S or non fungible tokens are essentially digital deeds that verify that an item is
authentic and unique.
ACSi infinity is one of the more popular play to earn games.
It hit its peak in 2021.
Going from about 38,000 daily active players in april 22.5 million
in december according to the company.
So how do players make money in this game?
One way to earn?
Cryptocurrency is by winning battles first one to defeat the other opponent first wins.
Another way is by selling your game characters to other players.
On an N.
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Marketplace Brent vit,
who goes by his gamer handle,
Cairo says he started playing ACSi infinity because of the potential to make money
Prior video games that I've played.
It's the top .01% that is getting the money from the game they're they're playing and
winning in all the tournaments and in this it's anybody and everybody can come and earn a couple bucks.
He says last summer when the value of the games,
Cryptocurrency was at its peak,
he was making about $1,500 a month from Maxie Infinity.
About the same as the monthly income from his day job in Kansas.
But this is just like the screen that shows me transferring that indian currency into.
Meanwhile,
Acsi infinity makes its money mainly through fees.
For example,
it charges a 4.25% fee for every trade made on the marketplace.
So what can play to learn,
teach us about running an economy in the metaverse,
a virtual realm where people can work play and shop first.
It shows how owning digital assets as N.
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S.
Allows people to buy and sell on the marketplace,
much like they would on the stock market.
Vit says he once flipped an ax a game character on the marketplace for over
$4500 understanding whenever things are like over and undervalued is like a
very very valuable asset to have in this space.
ACSI infinity says over $4 billion worth of axes have been traded on the
marketplace to date.
Sarah Needleman,
a tech reporter for the Wall Street Journal,
says players may choose to hold onto their axes for the long term.
But as with all things crypto,
it's still too early to tell how valuable or permanent those assets will be.
Even if if the game goes away and you buy something that was made for that game,
will it have value down the line?
I couldn't work in another game or some other virtual environment and that's just not clear.
Second play to earn,
shows how the earning aspect can encourage people to learn about crypto and N.
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S.
When we look at the playerbase,
like almost 50% of them have never even had a bank account and are totally new to crypto.
This model also incentivizes current players to educate others about the space.
For example,
in acts the infinity players developed a scholarship program to recruit new players who may not have
the money to join on their own.
AcsI infinity says it's run into an issue of players earning crypto in the game and then cashing
out their earnings without participating in the marketplace economy doesn't work if everyone is you know
extracting more value than that is being common.
And I think that people are kind of missing that point of N.
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S.
And Blockchain because they're so focused on all of the earning third.
Many metaverse.
Companies promise interoperability or the ability to travel between virtual spaces
with the same virtual assets and some play to earn.
Games are already experimenting with this idea to some degree.
For example,
Splinter Lands a play to earn card game allows players to trade digital goods on
marketplaces on two different block chains that are connected by a bridge.
I think over time if there are ways to take a virtual item that you earn in a
game and use it outside of that game that might make these items more valuable because you could use
them perhaps in a work setting if it's something cosmetic or they can apply to multiple games.
ACSI infinity says it's looking toward interoperability as well,
but it's unclear how safe it is right now.
There are so many hacks like bridges are,
you know,
going under all the time,
Several hundreds and if not billions of dollars have been lost like this,
everyone wants to have this like interoperable metaverse.
But in reality kind of getting to that point,
it's going to be exceedingly difficult despite its passionate fan base plate to earn
has experienced pushback from some longtime gamers who say this is just another way for
companies to squeeze money out of them.
N.
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S have also been under fire lately over concerns about the security of its technology.
A lot of us have been created based on copyrighted material or content without the
permission of the actual creators.
I think it's possible that there'd be some sort of government regulation and the N.
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T.
Space play to earn is still evolving.
But some companies already see it as part of the future of gaming.
Farmville maker Zynga and Assassin's creed creator Ubisoft Entertainment are among the
first big publicly traded video game companies to say they are experimenting with the strategy.
It's likely that games will add N.
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S.
Because right now they're already selling virtual goods.
Other game companies have expressed interest in it.
They haven't actually made a move yet.
As more video game makers contemplate adding N.
F.
T.
S.
Tech experts say the ability to buy and sell N.
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S in the metaverse will be key putting gamers in an important role in the metaverse.
You're going to see gaming as being an integral part of the entire
ecosystem.
I don't think that we go towards a future where gaming isn't related to
player owned economies and assets that are tradable by the players.
Yo let's go,
that was super hyped,
thank you so much.
I appreciate it.
Let's go