Meta-Hebdo: NFT and play to earn, the treasures of Web 3

It goes away and it comes back – In the world of Web 3, 2021 was definitely the year of play-to-earn. Indeed, NFT blockchain games allowing to obtain cryptocurrencies in exchange for proof of play have been a real revolution. We thought NFT play to earn games were outdated. The crypto community sometimes even turned its back on NFTs. Weakened by a start to 2022 showing some weaknesses, the rise of CADguilds and the development of big giants in the sector like Axie Infinity, have been able to show this week that NFTs and play to earn games are going on a campaign in Web 3.

So who said 2022 wouldn’t be the year of NFTs? It is too early to confirm this. But some clues confirm that the ecosystem of play to earn is in good health. Focus on this meta-week.

Yuga Labs: From Bored Ape Yatch to CryptoPunks to the Metaverse

What is Yuga Labs?

Creator of the Bored Ape Yatch Club (BAYE) NFTs, Yuga Labs offers digital images of authentic boring, beleaguered, wacky apes. The media success of the collection is rapid, carried by celebrities such as Justin Bieber, Eminem, or more recently Universal Music Group and Madonna.

Tweet from Madonna announcing the purchase of a Bored Ape Yacht
Tweet from Madonna – Source: Twitter

“I finally entered the metaverse… My own APE! Thanks Moonpay. We all need to be protected from the evil eye”

Madonna – Source: Twitter

The success of this collection has also enabled the development of Yuga Labs. The NFT laboratory has even recently offered itself the intellectual property of the famous crypto punks or Meebits, becoming the proud owner of 423 CryptoPunks and 1711 Meebits.

Tweet from Yuga Labs announcing acquisition of CryptoPunks and Meetbits Collections
Tweet by Yuga Labs – Source: Twitter

“Big news today: Yuga has just acquired the CryptoPunks and Meebits collections from Larva Labs. The first thing we will do is return all commercial rights to the owners of these NFTs. As we have done for BAYC and MAYC owners. »

Yuga Labs – Source: Twitter

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Metavers and cryptocurrencies: the APE Coin

In this community dynamic, Yuga Labs also announced the birth of its metaverse and the sale of plots of land. To buy them, you won’t need monkey money, but rather APECoin, the BAYE game token.

Also, the objective of Yuga Labs is to develop a metaverse in which we can use many NFTs (to the collection of cryptoPunks would then be added that of the Cool Cats for example). It will also be possible to create your own characters. APECoin will be used to make purchases in Yuga apps. It is therefore a question of encouraging exchanges within the BAYE ecosystem.

APECoin is also the governance token of the BAYC DAO (Decentralized Autonomous Organization). The holders of this monkey currency can thus decide on future partnerships or decisions to be made for the future of the BAYCs.

Tweet from Animoca Brands about their partnership with BAYE
Animoca announces a secret project with BAYC – Source: Twitter

DAO and Play to Earn; the art of governing

What is a DAO?

A CAD is an independent body within DeFi. Autonomous organization, it allows its members to govern the decisions of the organization. The community fund, in pools of liquidity is one of the structural principles of a DAO.

Axie Infinity, the play to earn NFT game on the Ethereum blockchain offers liquidity pools within its Katana decentralized exchange. Common treasure for AXS (Axie Infinity Shard) holders this pool allows you to receive Ron. The planned release of this pool is already causing fears from the Sky Mavis team. The co-founders of Axie Infinity want to prepare the community for decentralization and governance:

“In short, we believe that unlocking this pool of capital before the community ecosystem is prepared will likely cause long-term unintended damage to our aforementioned vision for Axie Infinity. »

Source: The Lunacia, official journal of Axie Infinity

Axie Infinity schematic explaining how to bring AXS into the community treasury.
The AXS: the treasure of Axie Infinity – Source: The Lunacian

The idea of ​​progressive decentralization (DeFi)

In this sense, Sky Mavis, parent company of Axie Infinity announced this week to accelerate the governance of the community. Axie Infinity wishes to operate a progressive decentralization:

We define incremental decentralization as the deliberate, step-by-step process we will follow to enable active partnership/ownership with a growing set of community members. »

Source: The Lunacia, Official Journal of Axie Infinity

But, without knowing it, the community is already participating in this progressive decentralization by investing more and more in the development of the structure of the game:

“These attempts to involve the community in decision-making are deliberately aimed at familiarizing the community with this growing expectation of engagement, learning how to best obtain input from a broad audience, and identifying community members with a outstanding interest in governance. This drumbeat will only intensify in the days to come. »

Source: The Lunacia, Axie Infinity Official Journal

Increase the development of Ron and AXS

With pleasant curves this week, theAXS and the RON are bullish approachingAxie Infinity Origin, new version of the game. The Ron token will take on its real usefulness from March 29. Indeed, to develop future transactions, Ronin transactions will be paid for with Ron. Some free trades, however, will be determined based on your number of NFTs. If you don’t have any NFT or even you lack free transactions, you can always buy RON on Katana with a credit card. Finally, only AXS holders will be able to have Ron rewards. Reward of governance, the Ron takes all his symbolism and its usefulness.

Tweet from Axie Infinity about the new usefulness of ROn
Tweet by Axie Infinity – Source: Twitter

NFTs confirm the trend

So this meta-week we have seen that everything may not be over for NFTs and play to earn games.

For example, MetaMask, the decentralized wallet, confirms its interest in the metaverse with the creation of the MetaMetaverse company. The recent declarations of its founder Joel Dietz confirm, moreover, that they want to offer their future users the objective of metaverse interoperability.

“In 30 years, every building in every city will be designed and sold in the metaverse. We are building the protocol that will support high-end assets and (make) clear business use cases. »

Joel Dietz, founding father of Metamask and creator of MetaMetaverse

Gamestop is considering getting into NFTs to revive its company. In partnership with Immutable X, an Ethereum solution known to host, among other things, the game God’s Unchained. In doing so, NFTs are even seen by some as an escape route.

Decentraland is also benefiting in its own way from a new lease of life this week. A hand-stitched partnership, Tommy Hilfiger made its debut in Decentraland during fashion week in the metaverse.

To end this week, another giant has confirmed its arrival in Web 3: PSG. Indeed, the Paris Saint Germain club will tread the lawns of the metaverse. The trademark filings confirm the brand’s desire to protect any usurpation of its name in the NFT and metaverse sector.

Tweet from Paris Saint Germain (PSG)
Tweet from Master Michael Kondoudis about the PSG trademark application – Source: Twitter

It is certain that the NFT market may have been a little capricious at the start of the year. Web 3 could be seen as a mirage. But this sector remains undeniably attractive, and this week’s news is an illustration of this.

Sometimes does very small things like the purchase of an NFT by a big star, or sometimes constitutes, on the contrary, big things like the dream of a community which governs its economy within a game, the play to earn obviously haven’t lost the game yet.

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Meta-Hebdo: NFT and play to earn, the treasures of Web 3

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