Taxes on Play-to-Earn Gaming, VISA into NFTs & Splinterlands Making Moves - Play to Earn #88
This week: Axie Infinity, Neon District, The Seventh Seal, Chainmonsters & Sorare
Remember the time before 2017? Probably not, but cryptocurrencies were very niche and not regulated at all. Nowadays there’s KYC everywhere, and El Salvador will soon even allow bitcoin payments legally. Now those same governments are looking at play-to-earn gaming. Profits made from playing a game, is that income? Is it a job? Do they need to tax it? Those are questions going around right now, and in the Philippines in particular. But there’s more, Splinterlands is making a big splash, Neon District has broken its silence, while payment company VISA jumped into the NFT game. We’ve got so much cool news lined up, so please enjoy our newsletter! — Robert Hoogendoorn
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The biggest story of the week (by far) has been one about regulation. The Undersecretary of Finance of The Philippines expressed her intention to look into play-to-earn gaming, and make income from those activities taxable. In particular the game Axie Infinity stands out, as many citizens of that country play to game and make a living that way. Sky Mavis, the devs behind the game, published a statement which you can read on our blog.
SPONSORED — The play-to-earn arcade game SpacePort has made some changes to their earning system. Now the biggest investors can only earn $200 per day. They introduced this limitation to avoid whales getting away will all the prize money. Read more about their new earning structure
One of the first blockchain games I got into, was Neon District. However, the assets I bought on the Ethereum mainnet can’t be used in the game right now. Very, very soon we can bridge the legacy items and move them over to the Polygon blockchain. Blockade Games even came up with an idea to reimburse gas fees to those who move their assets over. They really have a nice roadmap, check it out here.
Even though I play Splinterlands regularly, I’m not part of hardcore guild (hit me up!). Those who are in a guild, can now enjoy Brawls 2.0. This is an improved competitive mode, and soon you can earn the SPS governance token as well. There will be a very strong focus on play-to-earn in this game, very soon! Read more about Brawls 2.0
The Seventh Seal is a new strategy game in which players acquire tile NFTs to create their own play board. After that they can earn passive income because other gamers use their board. Cool stuff, and if you’re fast you can join the sale!
I’m a bit fascinated by Treeverse and its basic graphics. It reminds me of my early MMO days, but then combined with NFTs. Treeverse has made a major splash in the past weeks, and Phil has written a nice introduction into this ecosystem. Make sure you check it out!
Jay Z bought a punk, and now payment company VISA also bought one. They moved into the NFT space to learn, and then help small business owners to use NFT and blockchain technology to enhance their business. Interesting move. One that got many people talking. Discover more
I backed Chainmonsters before they launched their Kickstarter, apparently I was one of approximately 20 users who did so. Now Chainmonsters sold out 10,000 alpha access keys, and they deployed a major update. Will Chainmonsters become the Pokémon of the Flow blockchain? It sure looks like it!
The amount of updates Sorare is having lately, is ridiculous. First they moved to a layer-2 solution by Starkware, and then they announced the new yellow cards. Right now the fantasy football game is renewing many licensing, this week adding the Dutch Eredivisie and a couple of French clubs to their line-up for 2021/2022. Read more here, or join by click the banner below.
Read more gaming and NFT headlines
🐇 Green Rabbit Will Get Crafting Options — Rabbit out of the head
🚘 Formula E launched its NFT sale this week — Electrifying!
🚙 Riot Racers Launched Marketplace and Third Sale — Tactical car racing
🧪 Splinterlands Changes Payments for Quest Potions — No Credits!
🏀 NBA Top Shot Drops First WNBA Packs on Friday — Slam dunk!
🥊 Crypto Kombat Unveiled Play-to-Earn Model for Card Game — Round 2, Fight!
🤑 More Play-to-Earn with REVV Racing Sprint Sessions — Start your engines!
⚔ Guild of Guardians Explains NFT Scarcity — Founder tokens will be super rare
One last thing, this will be the last PLAY airdrop through this newsletter. Starting from September we will do a weekly quiz with BIGGER rewards, but covering a lot more content. It will be like a weekly exam, and you will get paid in our PLAY tokens!
🤑 <— claim here