Thread by @CroissantEth

The market capitalization of Axie Infinity is at an astounding $6.4B right now.

For comparison, Ubisoft has a market capitalization of merely $5.85B.

Let’s take a look at a bit of a little thought experiment for this thread, shall we? 🥐

Ubisoft is one of the largest video games companies in the world boasting top-selling game titles such as:

-Assassins Creed
-Far Cry
-Tom Clancy’s Rainbow Six: Siege
-Watch Dogs
-Just Dance 2
-Riders Republic
-Star Wars

So… why is there such a discrepancy between the two?

Is Axie Infinity more fun to play than ALL of the titles mentioned above?

No.

𝘉𝘶𝘵 𝘪𝘵 𝘢𝘭𝘭 𝘤𝘰𝘮𝘦𝘴 𝘥𝘰𝘸𝘯 𝘵𝘰 𝘸𝘩𝘦𝘳𝘦 𝘵𝘩𝘦 𝘪𝘯𝘤𝘦𝘯𝘵𝘪𝘷𝘦𝘴 𝘢𝘳𝘦 𝘱𝘭𝘢𝘤𝘦𝘥.

With Ubisoft, every item in the game is owned and controlled by a single entity.

There are no means of ownership, rarity, or uniqueness inside of this ecosystem.

As video game technology grows this will become an even bigger problem for players.

Could you imagine virtual realities where items as close to tangible as possible are at the whim of a single larger company?

Believe it or not we’ve actually seen this before, and it didn’t end well.

For those of you who played WoW, you’ll know exactly what I’m talking about

World of Warcraft, a popular MMORPG had over 12M users at its peak.

It actually became so popular that gold used in the game became worth real money

Users all across the globe started to “farm gold,” growing it to a $900M+ industry while employing millions of players…

Gold farming became so massive and widespread that it was banned in China (ironically)

Thanks to this, the developers of the game were forced to make changes to game mechanisms and make the virtual currency less valuable…

As I’m sure you’d expect, people were not happy.

According to Vitalik, this was one of his reasons for wanting to create Ethereum.

From his bio:

“Blizzard removed the damage component from my beloved warlock's Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring.”

This is exactly where the blockchain comes into play.

Crypto-economics combined with digital ownership creates powerful network effects.

As said best by .@SquishChaos, “a bet against crypto becomes a bet against the customer.”

https://twitter.com/squishchaos/status/1426750430113980417

In the case of $AXS, both the customer and the developers of the game have an active incentive to keep the game running as good as possible

Players of Assassin’s Creed or Far Cry didn’t get rich, the shareholders did

Meanwhile, Axie Infinity players 𝘢𝘳𝘦 the shareholders

Are you willing to bet against a growing community of individuals across the globe playing video games with an economic incentive to contribute?

The entire gaming industry is changing as we know it, so position yourself accordingly.

Anyways, I hope you all enjoy this thread! 🥐