Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reason
Reason
Daniel Friedman

The Biggest NFT Video Game's Economy Is Collapsing Because NFT Games Don't Work

The biggest NFT game currently in the marketplace is Axie Infinity, a game—similar to Pokémon—in which players collect and battle monsters which resemble axolotl salamanders.

The business model for Axie Infinity and nearly all other nonfungible token (NFT) games is called "play to earn." In these games, all players must start by purchasing NFT characters on a marketplace. In-game assets and currencies are traded on crypto exchanges, so everything in the game is worth money. The often-high upfront cost of buying into the game is theoretically justified by the opportunity to earn money by playing.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.