FEATURE | 𝐴 𝐺𝑙𝑖𝑚𝑝𝑠𝑒 𝑜𝑓 '𝐴𝑥𝑖𝑒 𝐼𝑛𝑓𝑖𝑛𝑖𝑡𝑦'

The good thing about this game was that it did not require initial investment – only the effort to play the game and the expense to utility power.

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Have you tried Axie Infinity? Hey, do you have an idea about axie? Sakay na, to the moon naaa.

Months ago, people were talking about the so-called Axie Infinity—which brings a lot of fortune to many. Around 2018, it was established and had only been known and hyped in May 2021.

The Vietnamese studio Sky Mavis started and developed the non-fungible token based online video game. By playing, cryptocurrencies can be earned which can be exchanged into real life money. The digital pets called Axie were being used to breed, battle, and trade. This play-to-earn game is built on the Ethereum network.

We invited a friend of ours who has been experiencing one of the biggest turning points of his financial life. He is none other than Mr. Gil Lyndell P. Magos. As cited in his interview, he mentioned that Axie Infinity was not the first cryptocurrency game that he tried. He started with the game called Alien World. It is a combination of “play-to-earn” and NFT game. The good thing about this game was that it did not require initial investment – only the effort to play the game and the expense to utility power. Meanwhile, the prices in such games dropped and so, he noticed that what he was earning was not rewarding anymore. That was when his discovery of Axie Infinity transcends. Unlike the previous game, Axie Infinity required a minimum amount of initial investment worth P20, 000. With that, he got to question himself where he would get such an amount to invest. By early June, Axie Infinity became more popular by the majority. Luckily, he found that one of his friends was playing the same game. Another friend of his was also interested to try the game so they reached out to their other friend who was then already into the game. His friend was able to obtain his Axie Infinity account and two weeks after, Mr. Magos had his one too.

“If you are a person who identifies himself as a risk-taker, one who also has the money, then it is a yes”

At first, Mr. Magos was not really into the cryptocurrency world. In fact, when he was asked about his idea of blockchain and cryptocurrency, he was honest enough to say that back then he thought both were scam. However, since pandemic brought him so much boredom, he had the drive to discover them. And Axie Infinity fit him the most since he still does not have the capacity to invest from his own money.

He told us about the considerations he had to make before deciding to be part of the Axie Infinity organization. Primarily, he considered the gain that he was to get – the main driving force of investing in Axie Infinity. Now that the game has competitive earnings, more challenges have arrived and for him to earn more, he must play better. Axie Infinity’s length of existence is uncertain. Now that he has nothing to do, he must save money and use it to gain more.

In his experiences, he shared that there were also highs and lows. He felt bliss when he became part of the organization during its peak which meant that the SLP was high. So high that the gain was much higher than the salary of normal employees. By low, he meant otherwise.

Mr. Magos shared some advice to aspiring Axie Infinity players. “If you are a person who identifies himself as a risk-taker, one who also has the money, then it is a yes”. He believes in the concept of “high risk equates to high reward”. He also highlighted the importance of the money you are to invest. If it came from the money you are to spend for your daily needs, better not to use it for investment.

“The cryptocurrency world is highly volatile. Invest only what you can afford to lose”

-Gil Lyndell P. Magos, 2021

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By Zeitter Joy A. Edang and Dhanna Kate P. de Sena

Photos from VnExpress, PlayToEarn, Pexel, DigiParadise