Cryptocurrency players and investors are shocked that Axie Infinity's NFT game "Axie Infinity: Origin" is coming to the Apple AppStore. Axie Infinity, a token that is built on Ethereum, has grown and spread quickly in the blockchain games market. The card-based strategy game lets players find, collect, and use a huge number of different monsters called Axies to fight and win.
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Axie Infinity Experiences an Immediate Surge
Axie Infinity is one of the cryptocurrency game companies that people are paying the most attention to right now. It has seen a huge 15% increase in less than an hour. Also, Axie Infinity is still up 6.6% in the last 24 hours, which shows that a lot of people are buying it.
The company's release of a "lite" version of its bitcoin game on the Apple App Store seems to be the main reason for this huge price jump. Only a few places will be able to play the game. But they are slowly growing their network to make sure the game is available everywhere. The official statement from Axie Infinity says that Apple users in Argentina, Colombia, Peru, Mexico, Venezuela, Indonesia, Malaysia, and Vietnam will be able to play the game.
Jeffrey Zirlin, co-founder Sky Mavis, says that "Axie Infinity: Origins" has been given permission to be sold on the App Store. He said that Sky Mavis and Apple have been working on this for about a year. Apple has a past of making it hard for businesses to let people buy, sell, and trade NFTs through their mobile apps. But Axie Infinity: Origin was good enough to reach this point without any problems. It looks like a great chance for Origin to grow its network and get people interested in new features. Apple users will be able to play Axie Infinity: Origin with updated tools that make the game more immersive.
Apple Store Policies for NFT-based Games
Concerning is the fact that Apple has different rules and guidelines for apps that ask users to buy things for NFTs. In some places, Apple has made it harder to buy these things, but when you do, you have to pay an Apple Tax of about 30%. Because of these rules, it's hard for NFT-based games to work on their own on Apple Store.
Apple's rules and guidelines say the following about apps that help with cryptocurrency exchanges: "Apps may help with transactions or transfers of cryptocurrency on an allowed exchange. As long as they are only available in places where the app has the right licenses and permissions to offer a cryptocurrency trade."
Important to know; These App Store rules tell writers what they can and can't put on the App Store. The CEO of Sky Mavis thinks that Apple will change its rules to help web3 companies.
Jeffrey Zirlin said, "We have great hopes for the addition of in-app purchases for NFTs and Apple's approval of linking to external markets. We hope that things will get better in the coming years."
Apple has put limits on where and how digital assets like NFTs can be bought with its devices, and the company also takes 30% of all in-app sales. This has slowed the spread of some blockchain-enabled services through the App Store.
Axie Infinity thinks that it is a big problem that will stop a lot of people from using it and make things hard for games.
It looks like a lot of investors wanted the Axie Infinity platform to grow again by being able to connect to Apple's App Store in famous countries without any restrictions. We'll have to wait and see how this change goes before we can tell if it will instantly make people more interested. But for now, buyers can use it as a reason to buy.
Epic Games Filed a Case Against Apple
Surprisingly, Epic Games, the company that made the popular video game Fortnite, has already taken Apple to court to protest the company's bad policy. Many web3 game developers and businesses are counting on the court to find a solution that works for everyone, so they can work with Apple to grow their markets.
Axie Infinity Suffered a Major Loss Last Year
Last year, Axie Infinity was in a unique situation that almost made their market cap go away. The game site stopped using Ethereum's blockchain and started using its own chain, called Ronin. This move weakened the security of its platform, and in the end, it lost more than $500 million in the blink of an eye. The well-known hacking group Lazarus from North Korea is said to have stolen more than $500 million from the company.
Both the number of people and the amount of trade went down by a lot. Since August 2021, when activity was at its highest, there has been a big drop. At the time, the amount of money traded on Axie NFT hit $870 million, and there were about 1.9 million trades.
But data from last month shows that less than 140,000 Axie NFTs were traded, bringing in $2.3 million.
Axie Infinity is Growing Rapidly
Jeffrey Zirlin talks about how many people use the site: "Seventy percent of our users come from referrals from family and friends," he says. "So, if you're on the App Store. "That's important for our business to grow."
Compared to Axie Infinity, no other web3 video game has done as well in terms of sales and usage.
During the epidemic, when the company launched the "play-to-earn" gaming model to millions of users, it made more than $4 billion in sales. People in the Philippines could play the game for a while and make a lot of money.
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