Phil Spencer, head of the Xbox brand, believes that the metaverse has been with us since 30 years ago, when digital gaming was largely introduced. However, Spencer criticized play-to-earn (P2E) models, stating that they create a workforce out of a kind of gamer who needs to monetize the time spent playing. Xbox Boss Phil Spencer…
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While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022. GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential. The GameFi ecosystem attracts GenZ…
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Enjoy Axie Infinity, DeFi Kingdoms, and other cryptocurrency games while they last, because lawmakers are poised to crack down by mid-2023. Are cryptocurrency games innocent fun? Or are they Ponzi schemes facing an imminent crackdown by regulators in the United States? Tokens related to cryptocurrency games — known colloquially as “GameFi” — were worth a…
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After recording more than $4 billion in all-time sales, Axie Infinity announced the game’s classic mode will no longer allow users to obtain smooth love potion (SLP), as SLP rewards have been added to the new Origin ranked gameplay mode. The team also introduced non-fungible token (NFT) runes and charms that can be minted on…
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Korean experts believe that crypto would play a major role in the gaming ecosystem, and within the next three years, the majority of games might have an in-game crypto economy. South Korea is considered the fourth biggest gaming market and one of the biggest blockchain adopters. However, the country has banned play-to-earn (P2E) blockchain games…
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Sky Mavis co-founder and growth lead Jeffrey Zirlin says Axie Infinity wants to double down in South Korea, which they see as one of the most important gaming markets in the world. Sky Mavis, the firm behind Play-to-Earn (P2E) heavyweight Axie Infinity is looking to “double down” in South Korea and ramp up adoption despite…
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In the aftermath of the March hack of the Ronin blockchain, Vietnamese game developer Sky Mavis, the entity behind the blockchain-based game Axie Infinity (AXS), is rejecting accusations of wrongdoing as some USD 3m worth of its native AXS token had reportedly been moved from Ronin to a Binance account in the hours preceding the…
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Axie’s monthly revenue has dropped over 98% from its August 2021 peak of $364.4 million. Axie Infinity (AXS) has been forming a giant bearish reversal pattern since July last year, which could send its prices down by another 95% in 2022. AXS risks one big breakdown Dubbed the “inverted cup and handle,” the pattern is…
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As high inflation destroys the purchasing power of fiat, these options offer hodlers a way to add to their portfolio without breaking the bank. Experienced crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult amid a backdrop of surging inflation that saps the…
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Crypto prices have dropped to multiyear lows, raising the question of which assets from which subsectors are ready for accumulation. It’s weird to think that anyone could look forward to downturns in the crypto market, but that is precisely the position held by many developers and project creators who enjoy the low-pressure environment that exists…
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