Online games powered by non-fungible tokens (NFT) have become popular online, allowing collectors and players to earn tokens with play-to-earn model games. However, the play-to-earn model is unsustainable, says Axie Infinity Co-Founder Jeff Zirlin.
The play-to-earn model is a system wherein players buy-in only to create and sell digital goods to those who buy in after them, but according to Zirlin, this model is unsustainable because eventually, a game will run out of new users expecting to make money.
Examples of NFT games are Pegaxy and Axie Infinity. Axie is a blockchain-based game wherein players purchase NFTs and then pit them against each other in battles. Players can earn tokens during the gameplay and trade them for money in exchange. This game targets gamers who want to play purely for fun rather than make money.
Another game making waves is Pegaxy, a horse racing NFT game with futuristic mythological styling. Pegaxy has a unique ecosystem that allows players to enter any race for free, making the gameplay very competitive, but rewards are still profitable.
In this game, players can participate in PvP format races to win rewards on the platform. Players compete against 11 other racers to earn a top 3 placement. All players inside the top 3 earn VIS tokens, the platform’s utility token.
Pegaxy players race NFTs of horses with unique digital signatures on the blockchain and can retail for up to $100,000.
Despite Zirlin’s claim that the play-to-earn model is unsustainable in the long run, start-up Pegaxy is said to double down on this model, which Axie Infinity pioneered.
The results of this debate will help change and shape the new Web 3.0 hotspots in the Philippines and Indonesia. Later on, it will reveal if Pegaxy is right in following Axie Infinity’s original vision of using the play-to-earn model.