wrote by @Ramping from team Project 12

translated by V12 (Discord ID: V12#5818)

According to CoinMarketCap, AXS, the token powering P2E (play-to-earn) crypto game Axie Infinity, has dropped nearly 45% in the past month. Last November, AXS hit a high of over $160, and recent prices indicate a drop of more than 88% since then. Alongside AXS, the value of Love Potion (SLP) (Note: it should be Small Love Potion), another type of token that can be earned in the game, is also dropping rapidly. It is currently trading at a little over $0.005 and has been down around 75% over the past three months. As one of the necessities to “mate” and create Axies, the SLP token becomes the core of the game structure, whose continuous decline will lead to the significant shrink of Axies’ value.

据CoinMarketCap数据显示，“边玩边赚”（Play-to-Earn ，P2E）链游平台阿蟹（Axie Infinity）原生代币AXS的价格过去一个月里下跌了近45%，相较去年2021年11月的160美元高位下跌了88%以上。除了AXS，阿蟹平台内的另一种可以在游戏中赚取的代币 — — SLP （Small Love Potion）的价值也在迅速下跌，以当前略高于0.005美元的交易价格计算，过去三个月下跌了约75%。作为游戏内“繁殖”和生成阿蟹的必需品之一，SLP可以被看作是整个阿蟹游戏框架的核心，现如今SLP价格的不断下跌将导致阿蟹的市值不断缩水。

As we all know, Axie Infinity is currently one of the largest blockchain games and the rapid depreciation of its token also suggests that the game is haemorrhaging users at an alarming rate. Worse still, Axie Infinity is not alone — many crypto games like CryptoMines and Splinterlands are also undergoing a hard time as the values of their tokens have fallen off a cliff in the past 12 months.

众所周知，阿蟹是目前最大的链游之一，其代币的快速贬值也表明该游戏正在以惊人的速度流失用户。更糟糕的是，阿蟹并不是唯一的 — — 许多其他链游项目，如CryptoMines和Splinterland，也都在经历一段艰难的时期，因为它们的代币价值在过去一年出现了断崖式下跌。

So, what happened? What are the reasons behind the struggles of these “highly-promising” projects?

那么，到底发生了什么？这些在圈内大名鼎鼎的链游项目为什么会像现在这样步履维艰？

The reasons are myriad but can be linked to the lack of a sustainable tokenomic design. To be more specific, these early crypto games only focused on P2E without focusing on sustainable environment and utility, which are, to a large extent, decided by whether people are truly having fun in the games. If game developers assert that players get interested in crypto games only because there are chances to earn money, they may easily get trapped in the hole where tokenomic is the only priority. This model may work within a short period of time but it cannot keep the project running in the long term. This is because tokens are not able to reproduce on themselves and when the project run out of the tokens, the game crashes down as well. More importantly, this model also betrays what games are originally created for — entertainment. After all, there are still numerous games, though not promising players earnings, staying alive for decades.

虽然其中的原因有很多，但本质上可能还是与其不可持续的经济模型设计有关。具体来说，这些早期的链游项目只关注如何“边玩边赚”，没有把精力放在游戏的可持续性和实用性上，而这两者恰恰决定着用户是否真的能在玩游戏的过程中获得快乐。如果游戏开发者断言玩家只是因为有赚钱的机会才会对链游项目感兴趣，他们可能很容易陷入只关注经济模型设计的黑洞中。虽然这种模式可能会在短期内奏效，但不能保持项目持续运行。这是因为代币不能自我复制，当项目代币消耗殆尽时，游戏也自然会崩溃。更重要的是，这种模式也背叛了设计游戏的初衷 — — 为玩家带来快乐。毕竟，市面上有许多游戏，尽管没有给玩家带来不菲的收入，但依然在市场上存在了几十年。

因此，我们在这里可以得出结论，链游项目应该把娱乐放在第一位，把“边玩边赚”作为一个加分项。基于此，P12提出了一种新的链游生存模式 — — “play-with-earn”。首先，游戏本身必须有趣，我们必须找到一种为游戏玩家创造价值的方法。为了建立一个既可持续又安全的游戏环境，游戏内代币需要来自某个地方，而NFT除了玩游戏赚钱之外，还需要有其它的使用场景。

That’s exactly what we are working on — P12 intends to provide an open platform where sustainability, user experience, and governance are significantly stressed. On the P12 platform, all rewards and punishments will be based on meritocracy so as to boost high-quality content to the largest extent. In addition, the platform will also guarantee the liquidity that deprives developers of slashing their game or manipulating the NFT marketplace, for which, developers are able to list their assets in the marketplace to monetize their own content.

这也是我们目前正在努力做的 — — P12致力于为玩家打造一个崇尚可持续发展、用户体验和社区自治的开放游戏平台。在P12平台上，所有奖惩都将以“奖励贤能”为基础，从而最大限度地鼓励用户创造优质内容。此外，该平台还将努力保证流动性，使开发者无法大幅削减他们的游戏开发投入或操纵NFT市场。游戏开发者可以在NFT市场上架他们的资产，实现自身的内容变现。