The media push resulted in the video being featured in Venturebeat, CNBC, and Hypebeast, and Filipino sites Esquire.ph and Spin.ph within a week of the video being published. The video was funded by a company called Yield Guild Games (YGG), whose two founders out of three are Filipino tech entrepreneurs. While Axie Infinity has been around since 2018, the hype in the Philippines began in May 2021 through a YouTube video showing Filipinos in Cabanatuan City, Nueva Ecija earning from the game, published on May 13, 2021. The price for monster NFTs has grown because there’s a surge of interest for the game, especially in the Philippines. While the NFT minting lays the foundation of trust for the Axie Infinity economy, traditional supply-and-demand forces still underpin it. Here’s a look at some of the cheapest monster NFT offerings in the marketplace: In order to start playing now, you need to have 3 monster NFTs, putting the total at about US$600 or about P30,000. Diablo 3 is designed to have players focus on playing well to get new gear, which the Auction House system had undermined.Īt the time of publication, the cheapest monster NFT is at around US$200. The key focus for gamers is to play well for the chance to earn tokens or breed monster NFTs, which they can sell and earn real money from. With the system, players merely bought items instead of playing for them, negatively affecting most players’ experiences.Īxie Infinity is different in the sense that it primarily markets itself as a “play-to-earn” game. Players could officially sell their loot for real money.īut the system was later removed as it interfered with the game’s core gameplay loop, which was to keep players playing with the promise of better items dropping from slain enemies. One other popular game that has attempted to institutionalize in-game trading with real money is Diablo 3 with its “Auction House” system. In this sense, Axie Infinity is an attempt to circumvent those issues. But it wasn’t an economy that the game developers could officially support as these transactions mostly happened off the actual game, opening up the potential for fraud, and the possibility of in-game items merely being duplicated instead of legitimately earned.
In a massively multiplayer game, for instance, a person could sell a rare in-game weapon that they found for real money. In the past, players have traded in-game items for real money.
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