Axie Infinity is not a simple game. Neither is cashing out you’re in-game profits. Regardless, this play-to-earn non-fungible token (NFT) game is sweeping the Philippines.
We lost our jobs because of the COVID-19 lockdowns; therefore, over 100 folks on the street in Cabanatuan City were playing the game to pay the bills and put food on the table. There are tens of thousands of tricycle drivers in Nueva Ecija, a rural province.
Today, the Philippines is the top traffic source for Axie Infinity internationally (Axie itself just won significant new funding round). According to creator Sky Mavis, over 29,000 individuals have downloaded Axie in the Philippines, up from roughly 10,000 in March 2021. In addition to the 70,000 downloads, Axie’s second-and third-highest traffic sources are Indonesia and Venezuela.
As part of the developing play-to-earn trend, Axie Infinity allows users to earn yield in the form of tokens or other incentives. If desired, the awards may be utilized in-game or exchanged on an open market. Traditionally, in-game assets were locked to a centralized protocol, unable to be transferred outside the platform.
For some, earning money while having pleasure is enough. As in the Philippines, others consider it a respectable way to make money.
They’re crazy. People have used Axie money to buy anything from baby diapers and milk to shoes and outfits for job interviews. Families have acquired digital gadgets for homeschooling and paid school fees. Some purchased bikes. More improved phones. Others are renovating. He acquired a plot of land. Also, this 22-year-old acquired two homes. His earnings from NFT gaming have enabled him to leave his employment in South Korea and return to his family in the Philippines.
For this reason, the Axie community has created scholarships. Renting NFTs to new players lets them play the game and earn SLP without purchasing NFTs or investing money upfront.
The gamer, the NFT owner, and the community manager share the earnings. The new player merely needs time, passion, and a desire to learn.
Sky Mavis does not provide these scholarships. The Axie community already possesses more Axies than they can combat each day. So, they rent them out, increasing their usefulness.
Renting your assets is one of the oldest business concepts. Its use on NFTs is novel. Unlike most other dapps, where the wallet represents the user’s identity. Instead, with Axie, NFT owners may lend, utilize, and enjoy their assets without giving up their private keys.
Of course, this isn’t ideal. For starters, it isn’t a liar. After a few days of playing on a scholarship, a scammer Axie owner may decide to retain all SLP revenues and refuse to pay the player’s part. Similarly, a player might use numerous pseudonymous identities to earn scholarships concurrently. Community leaders regularly monitor and discourage this activity.
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