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... See more

For example, we value traditional companies based on assets and cash flows. Companies with more capital – or expected ability to absorb more capital in the future – are ideally valued more highly than others.That isn’t the case for every organization. Jacob Horne argues in his essay on “Hyperstructures” that crypto protocols built with certain... See more