Digital Native | Rex Woodbury | Substack

Axie’s inflection point came on April 28th, when the game switched from the Ethereum blockchain to the Ronin sidechain. Before the switch, players had to pay high transaction fees on Ethereum, which limited who could afford to play. Ronin eliminated those fees. Along with switching to Ronin, Axie integrated Ramp.Network, a fiat-to-crypto platform—i... See more

The second token is Small Love Potion, or SLP, which is the currency that fuels Axie’s economy.

There are real economic risks within Axie. Overbreeding of Axies, particularly from power players who hold many Axies, could dilute the value of Axies and create a glut of supply—this could in turn lead to less value-earning potential for new players, slowing player demand. The economy could freefall. To keep the economy in check, Axie can change t... See more

As Ben Thompson put it, it’s not work-from-home; it’s work-from-internet.

This week, I want to dive deeper into the economics of Axie. This is important because 1) Axie is probably the most important on-ramp to crypto in the world right now, and 2) because as more workers find work in the metaverse, we often overlook how complex these economies are. Digital economies may be disguised within games—in Axie’s case, within a... See more

The second token is Small Love Potion, or SLP, which is the currency that fuels Axie’s economy. SLP is earned by playing the game—for example, by winning battles with your Axie—and SLP is spent through the breeding of Axies. SLP is an uncapped utility token, which is a fancy way of saying that supply ebbs and flows. SLP supply typically hovers arou... See more

Of course, not everyone has the financial foundation to become a “time millionaire” or to start earning their living in the metaverse. Digital economies are nascent and not yet robust enough to support billions of digital workers. These same trends are powering the creator economy, remote work, freelancing; they are broader than Axie and its counte... See more

Axie’s economy has two tokens—two in-game currencies that underpin the Axie economy. The first is Axie Infinity Shards, or AXS, which is Axie’s governance token.