13/07/2021
BitPinas has been covering Axie Infinity since 2018. Today, a new milestone is reached as SLP, the crypto earned when playing the game has almost reached parity with our smallest peso bill.
We documented the Axie phenomenon since last year where we compared the salary in different regions of the Philippines vs playing Axie: https://bitpinas.com/cryptocurrency/axie-infinity-earn-money-playing-axie-infinity/
With updated prices and more players (to the tune of 400k+ players), we revisit the Axie phenomenon and made guides:
https://bitpinas.com/learn-how-to-guides/axie-infinity-philippines-guide/
https://bitpinas.com/learn-how-to-guides/axie-infinity-scholarship-guide-english-version/
The rapid increase of users (and prices) caused some people to accuse the game of being a Ponzi Scheme. This was the subject of Luis Buenaventura II's latest piece: https://cryptoday.substack.com/p/is-axie-infinity-a-ponzi-scheme
He said:
"Is Axie Infinity a ponzi scheme? I don’t believe so, and I’m basing that assessment primarily on the outcome of our pessimistic scenario described above. The game itself will continue to be a source of entertainment, regardless of whether players are earning from it or not. Entertainment has value, and our time and attention have value. On a very basic level, Axie players (indeed, all gamers) are exchanging their time for entertainment, and that will continue to be true even if the SLP they earn is worth nothing. As painful as this sounds, even if Axie Infinity fails completely as a play-to-earn platform, it will still be a game on your phone that you can load up whenever you have a few minutes to kill. It probably won’t be worth a lot, but it won’t be worth nothing."
(Note: Information in this post is not financial advice. Do your research and do check out Axie Infinity Philippines - Official Community, or learn from mentors like AxU.Spraky, Kookoo Crypto TV, Real Deal Guild, Yield Guild Games, Coin Sessions Entertainment etc)
