Taking about Crypto Gaming, Axie Infinity is a cryptocurrency-backed Pokémon clone in which cute small creatures that can also be used as NFTs compete for joy and profit. It’s also a pyramid system that thrives on low-cost labor from nations like the Philippines. Now, fictitious inflation, along with a record crypto robbery reportedly perpetrated by North Korea, has thrown the Axie economy into disarray, and the company’s high rollers are freaking out while the low rollers abandon the scheme.
The story of Axie Infinity, like all things crypto, is both extremely sophisticated and surprisingly simple. The game, created by Sky Mavis, revolves around gathering, breeding, and battling cartoon characters known as Axies, which are Ethereum-based NFTs.
How the game is surviving?
According to Vice, the consequence is a highly financialized group motivated by the prospect of future riches and dependent on a steady influx of new participants. Many of the new players can’t afford to own Axies outright, so existing owners lend them to them in exchange for a percentage of future revenues.
Because many of the low-level players are poor workers from the Philippines and elsewhere, the Axie community kindly refers to the bosses as “managers,” the workers as “scholars,” and the overall arrangement as a “guild.” Others refer to this arrangement as “digital colonialism” because many of the low-level players are poor workers from the Philippines and elsewhere.
Dan Olson’s say on this
On April 12, YouTuber Dan Olson tweeted, “The Axie Infinity programmers’ mentions are full of digital landlords upset that their “scholars” (Filipino employees paid in game scrip) are all quitting the game and no-showing their weekly quotas on this Crypto Gaming.”
Axie Infinity is a live-service game, among other things, and it turns out that even the crypto bros have difficulties balancing resource economies and character progressions. As a result of the expansion of Axies, more SLP was farmed, and the value of SLP began to plummet. Breeding Axies is currently the sole way to eliminate SLP from the game. To solve this, Sky Mavis removed SLP farming from Adventure mode in February, but rather than decreasing, the supply of SLP increased. Players are now requesting more ways to “burn” SLP and prevent inflation from spiraling out of control.
What the players feel right now?
Other players are wondering whether to go or stay to see if Axie Infinity’s economy recovers. “Let’s be honest for a second, we’re all here because of the money,” one player wrote. “And discussing it any other way is a waste of time.” I’m keeping all of my axes in place. I don’t care if it goes to zero, but I’m not going to sell at those prices right now.”
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