Axie Infinity, the new Ethereum-based mobile game, has successfully captured the interest of many as it quickly became a global sensation, all the while smashing several records with ease. Within the past week, Axie Infinity’s revenue numbers pushed through the $10 million mark in the last 7 days, making it the current highest earning DeFi protocol today. As a matter of fact, combining the numbers of the four protocols preceding it (PancakeSwap, Metamask, Synthetix, and Maker) would still fall short of the tallied figures of Axie Infinity.
While the particular game’s gameplay loop is indeed fun and filled with cute visuals, borrowing major elements from Nintendo’s Pokémon games, what turned the eyes of many towards Axie is definitely its play-to-earn model. Unlike other games of its kind, where most aspects are free, Axie features its game characters as NFTs and rewards its users’ the opportunity to earn real-world money for successfully breeding and selling them out. This has resulted in a rapidly growing economy explicitly based on the game’s creatures, or Axies, as it calls it in-game. The higher the stats of your Axies, the greater the value it would fetch in the markets. Undeniably, this is what appealed most to its now thousands and thousands of users.
Third-world countries are using Axie Infinity as a full-time job.
All nations are indeed affected economically by the ongoing COVID-19 pandemic, but it is undoubtedly the third-world countries that got the short stick of things. This has turned many citizens to look for unconventional ways to earn for their everyday living as they lost their jobs in the wake of the pandemic. While many have scoured the streets looking for odd jobs that they may pursue to earn some cash, others have found an opportunity to earn crypto in the comfort of their home.
For example, in the Philippines, where almost every adult individual has their own mobile phone, Axie has been treated by some as a legit full-time job. With that being said, playing the mobile phone sensation requires significant investment, especially if you are playing to earn big – turning some Filipinos to look for investors in exchange for playing the game nonstop for long periods.
This method, loosely called “scholarships,” is when a specific person pays for the Axies to let another person play it in exchange for a portion of the total earnings. Previously, three Axies, which is a requirement for you to start playing, could be bought for less than $600. However, today that the game has reached a worldwide popular status; the very same set now requires about $900. This compels users to do their absolute best to get their investment back while striving to earn even further. Just last week, a particular triple mystic Axie was successfully sold for 369 ETH, or roughly $820,000 in today’s exchanges. This speaks volumes to how profitable the game could be when allotted considerable time and effort.
Indeed, to some, Axie is no longer a game but a legit job opportunity, and one could no longer blame them for thinking such.