First, what's the source on that? Random people on Twitter aren't exactly the most reliable sources.
Second, what exactly is that measuring? Is that the market value of a publicly held company that made Axie Infinity, as the rest of the companies presumably are? Or is the Axie Infinity number something completely unrelated to that?
Fully dilutted marketcap. Look up axie and do the math. None of this is hard to find. Now a days you don't need a random news channel to get the numbers.
-The definition of a fully diluted market capitalisation is the total value of the crypto at today's price if the entire future supply of coins were in circulation
-Fully diluted” shares are the total common shares of a company counting not only shares that are currently issued or outstanding but also shares that could be claimed through the conversion of convertible preferred stock or through the exercise of outstanding options and warrants.
Thank you for the explanation, but to say that you're comparing apples to oranges would be unfair to apples and oranges, which actually do have quite a bit in common with each other. It's not just that you're saying "cryptocurrency bubbles are this ridiculous". It's that you're also having to greatly exaggerate the size of the bubble to get the desired comparison.
Let's count the ways:
1) You're comparing a company's market cap to a cryptocurrency's. If you own 100% of Nintendo and decide to sell the company, based on their market cap, you could probably get about $50 billion dollars. Nintendo has been around for a long time, they've made some hefty profits, they own some lucrative IPs, and there are sound, well-understood reasons why the company should be worth a lot of money.
I'm not sure what the company that makes Axie Infinity is worth, but it's surely only a tiny fraction of the listed $29 billion figure. They don't own all of the cryptocurrency that they will ever issue. Rather, it gets issued to players of the game.
2) You're comparing the real value of companies to a "fully diluted market cap". As you explain, you're assuming that the company can continue to issue more and more of the currency without its price declining in response, and counts the value of all future currency that they plan to issue. This isn't a trivial point, as the quoted number is several times the market value of the currency that they've already issued.
Furthermore, that's just not how real currencies work. The classic explanation of inflation is too much money chasing after too few goods and services. To bet that massive further issuances of currency won't tank the value relative to other cryptocurrencies is to bet that most of what we think we know about economics is wrong.
3) Even if you owned all of the axie cryptocurrency, you wouldn't be able to sell it for anywhere remotely near its nominal market cap. The price of cryptocurrencies as an investment is propped up by the unwillingness of most holders of it to cash out. In some cases, that is because it is lost and inaccessible. In others, it's because the people who hold it believe in it and aren't willing to cash out, at least apart from effectively trading for a different cryptocurrency.
The amount of money flowing into cryptocurrencies from outside assets must match the amount of money flowing out of cryptocurrencies from people cashing out and trading their cryptocurrency for something much less speculative. That's just how markets work. There isn't that much money going in either direction, as opposed to effectively trading one cryptocurrency for another.
Someone trying to cash out to the tune of several billion dollars all at once would be a huge and noticeable bump. I'm not sure if that would only tank the Axie cryptocurrency, or if it would lead to a broader contagion that hammered cryptocurrencies more broadly. Don't get me wrong; someone pulling several billion dollars out of the system wouldn't be enough to kill Bitcoin and Ethereum entirely. Still, it wouldn't be surprising if it led to a drop in the total market cap of cryptocurrencies of $100 billion or more.
Axie will continue to be issued. At the same predicatable rate until all that will ever be will be issued.
Forvie me for not responing to most of your post. I don't take issue with most of it.
That being said Quizz, I believe what you are missing, or grossly undervaluing is the ability to earn. Not buying, not trading, earning. This is at the heart of the ethrium thesis, and crypto currency as a whole.
You can't give enough fiat to someone who is earning with a winning team. There is no one-to-one comparison. A fisherman is not going to sell his 10,000k boat for 10k. A carpenter is not going to sell his tools. That boat and those tools have more value.
I would dare to say Sky Maivis is worth much more than the current fully diluted market cap. I'm getting deep into the weeds, but answer me this. Out of all those comapnies on that list. Who has a closer relationship with it's consumers? Who takes care of it's stake holders better?
Come to think of it. I'm hard pressed to find a instance where the consumer, stake holder and business are more tightly connected. Roll that one over for a bit.
You take the human out of it.
That carpenter sells his tools quite often and plenty of the time it’s for pennies on the dollar.
Someone trying to cash out to the tune of several billion dollars all at once would be a huge and noticeable bump. I'm not sure if that would only tank the Axie cryptocurrency, or if it would lead to a broader contagion that hammered cryptocurrencies more broadly. Don't get me wrong; someone pulling several billion dollars out of the system wouldn't be enough to kill Bitcoin and Ethereum entirely. Still, it wouldn't be surprising if it led to a drop in the total market cap of cryptocurrencies of $100 billion or more.
The crypto markets are much more stable than people would believe. Just last week someone dumped 1.6B in Tether for BTC within minutes. It created a big price spike, but 30 mins later it had corrected, and neither crypto had an adverse reaction to a $1.6B swing.
I pointedly excluded exchanging one cryptocurrency for another in my analysis. And so you cited an example of someone exchanging one cryptocurrency for another, which doesn't contradict anything I said. If someone had dropped $1.6 billion from Tether and put it into Blizzard, you'd have seen a much bigger disruption in the markets.
USDT (Tether)is digital Fiat. Dollars are dollars.
Yes Blizzard would shoot up sharply and would take a bit longer for the stock exchange AMMs to bring things back to level due to tech and mass short liquidations. The overall market would not change.
Dollars are dollars digital crypto paper. they just move different.
Someone trying to cash out to the tune of several billion dollars all at once would be a huge and noticeable bump. I'm not sure if that would only tank the Axie cryptocurrency, or if it would lead to a broader contagion that hammered cryptocurrencies more broadly. Don't get me wrong; someone pulling several billion dollars out of the system wouldn't be enough to kill Bitcoin and Ethereum entirely. Still, it wouldn't be surprising if it led to a drop in the total market cap of cryptocurrencies of $100 billion or more.
The crypto markets are much more stable than people would believe. Just last week someone dumped 1.6B in Tether for BTC within minutes. It created a big price spike, but 30 mins later it had corrected, and neither crypto had an adverse reaction to a $1.6B swing.
I pointedly excluded exchanging one cryptocurrency for another in my analysis. And so you cited an example of someone exchanging one cryptocurrency for another, which doesn't contradict anything I said. If someone had dropped $1.6 billion from Tether and put it into Blizzard, you'd have seen a much bigger disruption in the markets.
The financial markets have some strangeness as well. Take a look at GameStop (I will avoid going into any detail here, as this isnt the appropriate place).
"I really don't see anything positive about giving a video game object a speculative real world value. I look at the attitudes and behaviors in the video gaming community, the way things are now and try to imagine how bad it will get when we introduce speculative serious money mechanics.
Way too much emotion of the stupid kind involved. The damage will not be worth it. Some could give a crap how much damage they do.
There is Zero value added and now your introducing capital gain taxation into video gaming. I know a lot of people like to keep Uncle Sam out of their video games.
Imho
edit: I don't know about the rest of you... But I just want to play games and I definitely don't want to be the one being played."
Arc8 - Download app, enter referal code. Start mining. Earn $GAMEE. Play mini games while waiting for big game. 155k Daily Active Users. Around 500k accounts.
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
lol Arc8 is a pretty big deal right now. 500k users in a month. If you scroll up you'll see a blockchain game update for ARC8.
I finally decided to see what it's about, and quickly saw I needed a referal code to check it out. I had to google to find one. Referal is the only way to play. Please feel free to look for another code lol. Do Your Own Reaserch.
Besides that it's a pretty cool time waster. My girl loves it
edit - I changed it, code removed. Do you approve old man
lol Arc8 is a pretty big deal right now. 500k users in a month. If you scroll up you'll see a blockchain game update for ARC8.
I finally decided to see what it's about, and quickly saw I needed a referal code to check it out. I had to google to find one. Referal is the only way to play. Please feel free to look for another code lol. Do Your Own Reaserch.
Besides that it's a pretty cool time waster. My girl loves it
edit - I changed it. Do you approve old man
Referral codes are a big no-no on forums like this one. The problem is that if they're allowed, then the forum gets flooded by fifty threads posting referral links to the same game.
lol Arc8 is a pretty big deal right now. 500k users in a month. If you scroll up you'll see a blockchain game update for ARC8.
I finally decided to see what it's about, and quickly saw I needed a referal code to check it out. I had to google to find one. Referal is the only way to play. Please feel free to look for another code lol. Do Your Own Reaserch.
Besides that it's a pretty cool time waster. My girl loves it
edit - I changed it. Do you approve old man
Referral codes are a big no-no on forums like this one. The problem is that if they're allowed, then the forum gets flooded by fifty threads posting referral links to the same game.
Facebook is looking Like a risky bet these days. Sure doesn’t seem like a company with a moral compass or ethics.
Somethings are worth more than money.
Race to the bottom of the brain stem. Every single social media platform has been doing the same thing for the past 10 years. I believe 60 mins first ran an segment on Dopamin Labs back in 2011.
Like or not, I'm not a big fan, but when one of the biggest data companies goes all you have to take note.
Literally if you removed the blockchain from these games, you would have nothing more than the garbage games you can find for free on addictinggames dot com.
Yeah but throw in keywords like blockchain, ethereum, and crypto and they come a runnin!
Not my style of game, but still, their website really leads with all the features of Blockchain, NFTs, crypto and market technology, with very little about the game itself.
I learned CRYOWAR is a real-time multiplayer PVP arena NFT game developed in Unreal Engine 4 for cross platform (IOS and Android?) along with PC quality graphics and is on the Solana network.
It has 8 unique characters (3 are shared), at the start of every match, Cryowar randomly cycles through a pool of level objectives. changing them on the fly, and matches are generally 3 minutes or less.
Supposedly no P2W, totally advance based on players own skill (yeah, right, on a mobile game, if so, they are doing it wrong)
Not too bad, but the web site contains 8 short paragraphs (many at the top) touting it's "Blockchain" tech and features.
Too long to list them all, but this first paragraph well summarizes the games core pillars.
"Cryowar is an amalgam between traditional gaming experience and best practices of the blockchain world, DAO voting, NFT, and decentralized finance (DEFI)"
Now these might be features Blockchain affictianados are most interested in, but seems to me the gaming portion is a secondary focus.
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
I dunno man, seems like a gamer should be a bit more careful or choosey about where they "insert" their wallet, and make sure to always use "protection," or who knows what dire consequences might happen.
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
Comments
That carpenter sells his tools quite often and plenty of the time it’s for pennies on the dollar.
"Be water my friend" - Bruce Lee
Yes Blizzard would shoot up sharply and would take a bit longer for the stock exchange AMMs to bring things back to level due to tech and mass short liquidations. The overall market would not change.
Dollars are dollars digital crypto paper. they just move different.
"I really don't see anything positive about giving a video game object a speculative real world value. I look at the attitudes and behaviors in the video gaming community, the way things are now and try to imagine how bad it will get when we introduce speculative serious money mechanics.
Way too much emotion of the stupid kind involved. The damage will not be worth it. Some could give a crap how much damage they do.
There is Zero value added and now your introducing capital gain taxation into video gaming. I know a lot of people like to keep Uncle Sam out of their video games.
Imho
edit: I don't know about the rest of you... But I just want to play games and I definitely don't want to be the one being played."
"Be water my friend" - Bruce Lee
https://arc8.gamee.com/
https://twitter.com/ARC8App
You need a referal code to use app. Google one , go to telegram or dm me.
I usually report posts like that one as spam.
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
I finally decided to see what it's about, and quickly saw I needed a referal code to check it out. I had to google to find one. Referal is the only way to play. Please feel free to look for another code lol. Do Your Own Reaserch.
Besides that it's a pretty cool time waster. My girl loves it
edit - I changed it, code removed. Do you approve old man
https://twitter.com/Wonderhero_io
Somethings are worth more than money.
"Be water my friend" - Bruce Lee
Like or not, I'm not a big fan, but when one of the biggest data companies goes all you have to take note.
Yeah but throw in keywords like blockchain, ethereum, and crypto and they come a runnin!
https://twitter.com/CryowarDevs
https://cryowar.com/
I learned CRYOWAR is a real-time multiplayer PVP arena NFT game developed in Unreal Engine 4 for cross platform (IOS and Android?) along with PC quality graphics and is on the Solana network.
It has 8 unique characters (3 are shared), at the start of every match, Cryowar randomly cycles through a pool of level objectives. changing them on the fly, and matches are generally 3 minutes or less.
Supposedly no P2W, totally advance based on players own skill (yeah, right, on a mobile game, if so, they are doing it wrong)
Not too bad, but the web site contains 8 short paragraphs (many at the top) touting it's "Blockchain" tech and features.
Too long to list them all, but this first paragraph well summarizes the games core pillars.
"Cryowar is an amalgam between traditional gaming experience and best practices of the blockchain world, DAO voting, NFT, and decentralized finance (DEFI)"
Now these might be features Blockchain affictianados are most interested in, but seems to me the gaming portion is a secondary focus.
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
lol .. what dogshit
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV
Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
All time classic MY NEW FAVORITE POST! (Keep laying those bricks)
"I should point out that no other company has shipped out a beta on a disc before this." - Official Mortal Online Lead Community Moderator
Proudly wearing the Harbinger badge since Dec 23, 2017.
Coined the phrase "Role-Playing a Development Team" January 2018
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