Interesting one here. It's an app. Im not sure how it works. I haven't downloaded. Seriously exlposive growth though. Looks like cool little games you play in your free time on your phone while mining $GAMEE.
2 reason I think this might be interesting is because the games look pretty alright for mobile time wasters. Second, the tokens go to your metamask wallet and can be converted for any currency at anytime.
just hope everyone knows any attempt to ask for donations/ raise money for crypto-linked ventures is probably illegal and the backers will likely have a criminal record in many countries: Singapore and China included. STAY AWAY ROM BITCOIN -- the triads and criminal underworld are using it to BIND youth to their illegal networks FOR LIFE. Just imagine, just one involvement in crypto? THAT'S IT END OF CAREER FBI CIA HUNTIN G YOU FOR LIFE. OMG EXCITING. James Bond movie in 10.. 9... 8...
Is Axie Infinity really worth close to EA, Unity, Blizzard etc? That's kind of crazy.
Must be a game for whales, all those ethereum millionaire playing.
I thought the same when it was 10 times less. A couple months ago I heard an interview on coindesk.tv that people in poor counties started playing when it was 100 times less than when I found it. It gave them a fair way to earn income.
Axie is why china said kids can only play a few hours a week and why korea is taxing video games.
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?
If you want to make a more interesting and much shorter thread along these lines, try making a thread about Blockchain games whose web sites mostly want to tell you about the game part of the game. Blockchain "games" that really only want to talk about blockchain and NFTs have no real hope of being interesting games. Maybe such blockchain "games" could be an interesting something else, but not an interesting game.
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.
this just was published check it out, mmorpgs. looking damn good.
I had a look at that video. Skyweaver is interesting because players decide the value of the cards and there are no booster packs. Age of Rust too since it is a puzzle driven game and finally Mist.
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.
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.
Is Axie Infinity really worth close to EA, Unity, Blizzard etc? That's kind of crazy.
Must be a game for whales, all those ethereum millionaire playing.
Axie Infinity is an interesting mix. At this time it takes ~$1k (USD) to get 3 Axie to play the game. So, no one new can start playing without a serious commitment. However, they follow a scholarship program where you can have someone provide those axies, in return for a % (usually 50%) of the returns you make. Players have been making ~200-300 USD per month (for 2 hours of play time). If this is split, then a new player can ~5 months as a scholar to earn their own team.
At this time, the vast majority of players are what would be considered poor. ~40% of the player base is from the Philippines, and uses this as a way to make money. It is taking off in other low income countries as well.
I would say that with this (Play to Earn: P2E) we are seeing the next big thing in gaming. It will become just as dominant as F2P is now. I expect the current approach to last a couple of years (or less), until someone rolls out a F2P P2E game.
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.
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 was on telegram when that happened. Watching whale alert last week (all the time) was/is insane. 1/4 billion 1/4 billion 100 million 100 million. Billions are the new 100 millions when it comes to usd... We lost a 0 somewhere the last 10 or so years... 2008 maybe?
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.
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.
Comments
2 reason I think this might be interesting is because the games look pretty alright for mobile time wasters. Second, the tokens go to your metamask wallet and can be converted for any currency at anytime.
this just was published check it out, mmorpgs. looking damn good.
Must be a game for whales, all those ethereum millionaire playing.
Axie is why china said kids can only play a few hours a week and why korea is taxing video games.
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?
-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.
I'll keep an eye on these.
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.
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.
At this time, the vast majority of players are what would be considered poor. ~40% of the player base is from the Philippines, and uses this as a way to make money. It is taking off in other low income countries as well.
I would say that with this (Play to Earn: P2E) we are seeing the next big thing in gaming. It will become just as dominant as F2P is now. I expect the current approach to last a couple of years (or less), until someone rolls out a F2P P2E game.