Starting in the early 2000s, with the spread of the Internet and mobile devices, people all over the world were able to access all kinds of information. They were able to connect with anyone, at any time, regardless of where they lived or what country they were in.
At the same time, the global economy has grown exponentially and dramatically. However, the redistribution of wealth has been extremely skewed towards a small number of entities: developed countries, a few developing countries that were able to achieve rapid growth, international organizations, and huge private corporations. This created even more disparity between different countries and regions.
In other words, for two people with the same ability and occupation, there will be a large difference in wealth depending where they live, their nationality, and what legal currency is used to support their economic activities. Just like the spoils from a loot box, we cannot choose in advance the region or country where we will be born.
But in the 2010s, the world was introduced to blockchain technology, the next technological innovation of the Internet, represented by Bitcoin and Ethereum. We were convinced that this would balance the redistribution of wealth.
However, while we realized this could be a solution to wealth redistribution, there wasn’t an established way for anybody to incorporate and actually use this wonderful tool anytime, anywhere.
Blockchain technology can be used as digital proofs and contracts since the unique data containing the transaction information cannot be changed or forged. Some applications include utility tokens which can be used as a means of payment, security tokens that represent stock certificates or bonds, governance tokens which represent a service or an entity, and non-fungible tokens (NFTs) which represent unique assets. In particular, since 2019, staking-based DeFi services such as lending, yield farming, and liquidity mining have quickly attracted attention from investors around the world and rapidly expanded the market.
However, we realized that these movements would basically result similarly as one of the new escape routes to maximize the wealth of the few, with little hope for the many.
Finally, in 2021, we began to see NFT games (blockchain games) which have had an enthusiastic fan base make a breakthrough. We have finally moved from the problem-solution fit phase to the product-market fit phase. The specifics will be discussed later, but in the long history of computer games, a new concept has emerged: following the evolution of "pay-to-play" games to "free-to-play" games, we now have "play-to-earn" games.
Even before 2020, NFT games were already a way for users to earn revenue by playing games, but the physical and psychological hurdles to this have dropped dramatically while the number of users exploded (mainly in Southeast Asia). Axie Infinity, a representative example of such a game, exceeded 2 million DAU (*1) in October. Although the scale of this game is still small compared to other major mobile game titles, its total transaction volume has reached 2.2 billion US dollars (*1), and the ARPU is more than 100 times larger than any other game. In fact, users in developing countries such as the Philippines are now able to earn enough money by playing games to live their daily lives without any inconvenience.
"Pay-to-play" is a model in which a developer makes money by selling software to players for the game experience, while "free-to-play" is a one-way business model in which a developer attracts a large number of players with the hook of playing for free and then makes money by offering a way to satisfy the desires of recognition for top players or provide items that will save time. In contrast, "play-to-earn" is a multi-way business model in which all stakeholders, including users (players and investors) and developers, interact with each other and each earn revenue. In this way, new wealth is created as the entire ecosystem grows. Platform participants take a percentage fee from each transaction in this new model. Each of the stakeholders (players, investors, developers, and platformers) has a lot of room for improvement and refinement in terms of scalability and sustainability, and there are many issues that need to be resolved for the market to grow further.
In this time of great change, we will use technology to build a completely new virtual nation where anyone can join and achieve self-actualization, regardless of their region of residence, country, race, religion, status, family background, or education.
All it takes is a smartphone and an internet connection. With no need for an expensive computer, even if you have never touched crypto assets or blockchain projects before, you can start playing exactly the same mobile games that everyone in the world is enjoying today, and you will be rewarded according to the results. It's a whole new world of "play-and-earn" that follows the aforementioned "play-to-earn" but solves its problems and at the same time allows more people to have an enthusiastic gaming experience.
The people who participate in this project are truly comrades who aim to build a nation together. Based on the contents of the chapters that follow, we will build a world where the development of the AKIVERSE will be directly returned to the users, just as the prosperity of a nation should be directly enjoyed by its citizens.
(*1) ref The Lunacian