I'm not sure "value" is the correct question. Value depends on... values, I guess.
In any case, I suspect Graeber would have advised asking them. The grinders in manilla. The currency buyers, traders, etc. Cultural reasons are hard to extract from their cultural context without resorting to essentialism.
There are differences between a game where money comes from grinding, even if 3rd party and outsourced, and a pay-to-play currency. I suspect the people participating in that economy have a narrative, and that it makes some sort of internal sense. That's culture.
It's the same cultural value provided by a slot machine.
A way to hack someone else's brain and turn them into a slave zombie.
But I guess a lot of "real" culture is basically trying to do something similar: religions, corporate cults, schools, etc. Those are maybe only superficially less grotesque.
I'm not sure "value" is the correct question. Value depends on... values, I guess.
In any case, I suspect Graeber would have advised asking them. The grinders in manilla. The currency buyers, traders, etc. Cultural reasons are hard to extract from their cultural context without resorting to essentialism.
There are differences between a game where money comes from grinding, even if 3rd party and outsourced, and a pay-to-play currency. I suspect the people participating in that economy have a narrative, and that it makes some sort of internal sense. That's culture.
There are some comments from participants here: https://www.reddit.com/r/AxieInfinity/comments/qfe7fo/would_...
It's the same cultural value provided by a slot machine.
A way to hack someone else's brain and turn them into a slave zombie.
But I guess a lot of "real" culture is basically trying to do something similar: religions, corporate cults, schools, etc. Those are maybe only superficially less grotesque.