“This is having a real economic impact on real people’s lives, and FTX gets the added advantage of gaining branding exposure to these new crypto users, who will always remember who gave them their start.” “The expectation is that the new player, or scholar as they are known, will earn enough from playing the game to be able to ‘graduate’ from the program and eventually buy their own NFTs,” Yield Guild Games co-founder Gabby Dizon explained to Decrypt. Yield Guild Games is one of the most prominent programs, but there are many to choose from. Click on any tweet from Axie Infinity’s official account or those of its creators and popular community members, and you’ll find a mass of people eager to join a scholarship program.
The scholar keeps the majority of the income, with smaller shares given to the owner as well as a manager who oversees scholars.Īxie Infinity NFTs are expensive: three Axie monsters are needed to play the game, and they typically start at $200 to $300 each on the game’s official marketplace. The players earn Small Love Potion (SLP) tokens in battle, which can then be exchanged for other cryptocurrency. Essentially, the scholars are loaned Axie monster NFTs by the original owners through a profit-sharing agreement. Scholarship is one of the most interesting wrinkles that has developed around the NFT-driven crypto game. Developer Sky Mavis recently reported having more than 900,000 daily active users playing the game. Additionally, the game’s native AXS governance token has soared to new all-time highs recently, and currently sits at a price of nearly $45-a more than 86,000% increase from January 1. Īxie Infinity has taken off over the last couple months, generating more than $900 million in NFT transaction volume in the last 30 days alone.
#Axie infinity scholar series
Yield Guild Games raised $4 million in Series A funding in June to help expand its play-to-earn business model, and last week held a $12.5 million token sale that sold out within 31 seconds. The players sponsored by FTX hail from the Philippines, Indonesia, India, Latin America, and Brazil. (For the uninitiated, an NFT is a type of blockchain-based token that can be used to demonstrate proof of ownership in a digital item, such as an image, a music file, or-in this case-an in-game item.)įTX will have lifetime naming rights to those players’ Axie Infinity Sponsor-a-Scholar accounts. FTX’s deal provides funding to breed new Axie monsters in the game for scholars, and each Axie is represented as a unique NFT. Today, FTX announced that it will provide funding to 137 new Axie Infinity “scholars” in partnership with Yield Guild Games, which already has some 4,600 such players in its program. Now, cryptocurrency exchange FTX will help boost the number of players doing just that.
The “scholarship” program sees Axie owners loan their monster NFTs to players in developing countries, who can earn money via in-game rewards tokens.Įthereum-based video game Axie Infinity has rapidly become the most popular crypto game around, and its play-to-earn model is enabling some players-especially those from developing countries-a chance to earn a living just by battling monsters using NFT characters.Cryptocurrency exchange FTX has partnered with Yield Guild Games to sponsor players in a profit-sharing program built around the Ethereum game Axie Infinity.The same research found around 26 million people - nearly one quarter of the population - were impacted by those latest lockdowns. Several cities saw a spike in cases toward the end of March, which resulted in new mandatory lockdowns.
GDP contracted 9.6% in 2020, the largest annual decline ever recorded since data collection began in 1946, according to IHS Markit.
While the digital game knows no borders, it has really taken off in the Philippines, which has been hit hard by the pandemic. Nearly 60,000 people are now playing Axie Infinity, Axie's head of growth Jeffrey Zirlin told CNBC. The phenomenon that first began last summer exploded after a Coindesk article published in August significantly boosted the player base, according to the documentary. Personal Loans for 670 Credit Score or LowerĪ new mini documentary, released Thursday on YouTube by crypto consulting firm Emfarsis and gaming company Yield Guild Games called "Play-to-Earn," follows several Filipino people who play the game - a mother, three young entrepreneurs, a recent college graduate, a pedicab driver, an elderly married couple and one of the first people in Cabanatuan City to discover Axie Infinity. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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