Sky Mavis's Sky Mavis explains why some AAA games are losing the game

Sky Mavis's Sky Mavis explains why some AAA games are losing the game

The Token2049 interview rooms in Singapore earlier this month had reclining stools that sank lower the longer you sat on them. Thanks to tight security at the conference, I was late for the meeting. Sky Mavis Chair Aleks Larsen, the chair, was on the floor, he said.

A better writer would be able to spin this into some sort of metaphor. Is there a quip about the value of s' two tokens? Or something about s' slow decline over time into irrelevance?

With the help of Sky Mavis, a Vietnam-based game publisher, Sky Mavis pioneered play-to-earn gaming. It attracted millions of players - some of whom played it for a living - then its token collapsed, it was hacked, and the industry dismissed it as little more than a scam.

Even so, he adds that Sky Mavis' chairman and co-founder, Larsen, is not done yet. Axie'made this industry happen, he tells DL News as we attempt to stop our chairs from sinking.

Web3 games are seeking to compete with their web2 rivals. Many projects offer graphics and gameplay on par with the industry's top AAA games, including big-budget studio games like and Think the production values of plus web3.

As web3 evolves, Larsen is worried that games failing to effectively leverage the benefits of web3 technology and those that call themselves AAA games.

rebasically competing with the AAA games of web2 without the benefits of web3 in any real tangible way, he warns.

According to Larsen, the AAA games label has devolved into a marketing gimmick. In addition to demonstrating themselves through their work, teams are conditioned on metrics such as NFT floor prices or the number of developers they employ.

Although AAA is not every good game, it's not every good game. On Steam, you can look at the list of indie games that are well represented.

Gamers are not a forgiving bunch. A former Steam employee told me that they used to prank players by posting about updates and not changing anything, and players would still complain about the new 'changes'. However, they will often opt for convincing lore, world building, and interesting premises over slick graphics.

Games such as and have traded insults over whether the other team is big or experienced enough to actually produce the game they promise. Larsen feels it differently: too many cooks can spoil the brew, particularly if they're seconded from other studios.

The initial versions of the book were incredibly low quality and very simple, he said.

However, the industry is faced with delayed projects that under-deliver and some are s' biggest contractors.

He sees criticisms, especially from those who haven't produced tangible contributions, as a negative impact on the industry's collaborative expansion.

At the height of hype, it became a cultural phenomenon, especially in places like the Philippines. The founder of Yield Guild Games, Gabby Dizon, once told me several generations of his family played it. Dizon himself became one of the world's biggest breeders.

A company created an app where people could pay for utility bills using the game's Smooth Love Potion token.

The original game'spremise was simple. Forgetting to get started, players needed to purchase three axies - think colourful, chubby axolotl-type creatures - to use in player-versus-player battles.

The different axis had different strengths and weaknesses. Who won the match would receive a token called Smooth Love Potion.

Two tokens used: SLP and AXS. At their all-time highs, they boasted a combined market cap of $11 billion.

Today, SLP has lost 97% of its value and SLP is down 99%. In March 2022, North Koreans hacked into the chain it was built on in one of the biggest cyber-heists in existence. The culprits owe more than $600 million.

It's rather remarkable that they survived given the damage, he said. The gaming industry, and cryptocurrency writ huge, forgot about the onetime juggernaut. The sky Mavis employees have been there for years, quietly and consistently.

Can Cryptocurrency rise back to something close to its zenith? Is it doomed to be a garment of its former self for the foreseeable future?

I re-do the game last week, looking at some of the mechanics.

It's one of only two web3 games I've played for weeks at a time and actually gotten into. My boyfriend couldn't stand my early 2022 phase. He'd roll his eyes every time he heard the soundtrack coming from my laptop.

My original axies have vanished in some wallet I can't remember, consigned to that part of my mind I try to repress, where my starving Neopet and abandoned Tamagotchi also live.

I acquired a few new ones and re-downloaded the Sky Mavis hub. It's still cute. It is, unlike a lot of its critics who make big promises that never seem to come to fruition, it actually exists.

The original version of the story misidentified Aleks Larsen as the CEO of Sky Mavis. In addition to being the co-founder and chairman of the company, he is also the head of the company.