Daily Income of a Typical Axie Infinity Player ‘Fall Below Philippine Minimum Wage:’ Report – Featured Bitcoin News
This year, the blockchain game Axie Infinity developed by Sky Mavis has seen incredible growth, recently exceeding $ 3 billion in sales. However, researchers at Naavik state in a recent study that Axie Infinity players who are referred to as “scholars” see daily income drops, and many of them have seen income drop below the minimum wage line in countries like the Philippines.
Naavik researchers dive deep into Axie Infinity – The income of the ‘scholars’ has been falling since August
The Ethereum-based blockchain game Axie Infinity is one of the most popular video games hosted on a distributed ledger network. The game was developed by a studio called Sky Mavis, and as of this week, metrics from dappradar.com show the game made $ 3.23 billion in all-time sales of non-fungible tokens (NFT). Sky Mavis launched the game in 2018 and the company is headquartered in Ho Chi Minh City, Vietnam.
Bitcoin.com News has covered the project on several occasions and most recently Sky Mavis revealed the launch of Axie Infinity’s native decentralized exchange (Dex) called Katana. While the blockchain gaming project grew exponentially in the first half of the year, the daily income of the typical gamer is falling, according to Naavik researcher Lars Doucet. Naavik is a research, advisory, and advisory firm, and the report covers blockchain games, NFTs, and Axie Infinity.
The Naavik researcher published a study on NFT gaming platforms with Jimmy Stone, Anthony Pecorella, Aaron Bush and Abhimanyu Kumar and discussed whether or not Axie Infinity was an “infinite opportunity or an infinite danger”. Doucet revealed some of the results of the report on Twitter and discussed the project at length in a thread.
“After months of incredible growth, the typical Axie Infinity player (a ‘scholar’ in the Philippines) ‘s daily earnings have fallen below the Philippine minimum wage limit for all but the senior players, and even they have seen a decline in earnings since August,” wrote Doucet on November 12th.
“’Scholars’ are actors, typically in developing countries, who cannot afford to buy [three] Axies (NFT-based virtual Pokemon-like creatures) required to play the game. These assets are lent to them by “sponsors” who take part of their income, “added Doucet. The research report is extremely detailed and discusses the many developments surrounding the tremendous growth of Axie Infinity and Sky Mavis.
Naavik researcher: “The growth spurt of Axie Infinity is slowing down a bit” – “Game keeps the retention rate of a job”
The Naavik researchers explain that in some seed rounds, the team has also raised capital from investors such as Consensys, Delphi Digital and Animoca Brands. The results also show that “Axie Infinity’s Daily Active Users (DAUs) have skyrocketed” and cumulative DAUs ranged from 1.45 to 1.95 million daily active users from September through October. The report shows that the Philippines and Venezuela are the two most popular Axie Infinity regions worldwide.
Meanwhile, Naavik researchers say the game’s growth spurt may be slowing. “This month-to-month DAU growth trend shows that the Axie Infinity’s growth spurt is slowing down a bit, but a slowdown is to be expected after such an impressive growth spurt,” the study said. “The deceleration is also supported by the following Google Trends graphic in the Philippines and Venezuela as well as worldwide in general.”
Naavik’s study explains that most Axie Infinity players come from low-income areas and “the main motivation is to make money.” The study underlines that due to this trend, the time spent in the game corresponds more to the “time spent in a job, not a game”. The study’s researchers note that this “isn’t necessarily a bad thing,” but it offers a different perspective than today’s most popular video games.
“It is possible that DAU’s long-term retention and growth will continue to grow as long as Axie Infinity enables its scientist-dominated player base to generate more income than they would from normal jobs in their home countries,” say the Naavik writers . “All in all, Axie Infinity’s growth spurt is slowing (albeit still positive), and much of its player base is treating the game like a day-to-day job in order to ensure day-to-day financial survival.”
What do you think of the Axie Infinity report written by Naavik’s researchers? Let us know what you think on this matter in the comments below.
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Animoca Brands, Axie Infinity, Blockchain Gaming, ConsensYs, Daily Earnings, dappradar.com, DAU Growth, Delphi Digital, DEX, Profit Decline, Profit Growth, Featured, Job, Katana, Lars Doucet, Metaverse, Minimum Wage, NFT, NFT Sales, NFTs , Philippines, play to make money, retention, scholars, Sky Mavis, sponsors, Venezuela
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