![]() ![]() In the month of August, NFT exchange OpenSea hit $3B in monthly volume as over 1.5 million NFTs changed hands. They must also offset the number of players seeking to extract a profit with players who are pure consumers - i.e. Ultimately, Sky Mavis has to keep the SLP supply in-check while improving overall gameplay to keep its player economy and ETH deposits growing. These dynamics could have an impact on NFT market prices, which in turn may have a direct effect on the economics for players - a possible negative feedback loop. And since breeding is priced in SLP, additional supply of SLP equates to cheaper breeding fees to create new Axie NFTs, inflating Axie NFT supply. ![]() Winning Axie Infinity battles and quests yields SLP, inflating the SLP supply. A powerful positive feedback loop no doubt - but what if market conditions change? With rising SLP prices, playing becomes more profitable, encouraging others to join. Breeding requires fees paid in SLP & AXS, leading to a rise in token prices. Higher NFT prices have made breeding more profitable. Increased demand for Axie NFTs has led to rising Axie NFT prices. ![]() Just like a real economy, digital economies have to consider the effects of inflation.ĮTH has been flowing into the Axie economy due to high demand for Axie NFTs. ![]() Where the Fed has various tools it uses to influence the economy, Sky Mavis can adjust the SLP issuance rate and breeding fees with the aim of keeping the Axie economy healthy. If Axie Infinity is its own digital nation, game developer Sky Mavis serves as its Federal Reserve. YGG has also made early stage investments across 8 play-to-earn games via SAFT (Simple Agreement for Future Tokens), and locked in ~$1M for yield farming in blue-chip DeFi projects. Axie Infinity NFTs comprised close to 90% of that value. By the end of July, the YGG treasury had amassed 19,460 NFTs valued at over $10M across 12 play-to-earn games. Much of YGG’s capital has been put to work buying NFTs that can earn yield from play-to-earn games. The YGG token is part of Yield Guild Game’s plan to transition into a community-governed DAO.The price of YGG has tripled in August, meaning their treasury currently stands at over $1B. They also raised $12.49M from the sale of the YGG governance token, while holding 13.3% of its outstanding supply.Īs of the end of July, the YGG wallet’s holdings stood at $415M, with the majority stemming from the YGG token ($373M). The project has been funded by a $1.325M seed round led by Delphi Digital and another $4.6M round from a16z. fails.The YGG treasury consists of tokens and stablecoins held in a wallet, NFTs, and venture investments made in various play-to-earn games. ZipUp+ products are not defined as “deposits” under Section 4B of the Banking Act and hence there is no insurance by the Singapore Deposit Insurance Corporation Limited in the event if Zipmex Pte. Please review this link for the full terms and conditions and risk disclosure. ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction.You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens. You should be aware that the value of DPTs may fluctuate greatly.This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex. You should not transact in the DPT if you are not familiar with this DPT.This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails. Zipmex is not currently licensed by MAS to provide DPT services.The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.īefore you pay Zipmex any money or DPT, you must be aware of the following. RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES ![]()
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