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‘Life-changing’ or scam? Axie Infinity helps Philippines’ poor earn
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Let the game begin: A group of people use their mobile phones to play Axie Infinity in a neighborhood alley in Malabon in suburban Manila on Dec. 15, 2021. (AFP/Jam Sta Rosa)
A blockchain-based play-to-earn game finds popularity in the Philippines but some warn that it may be a fraudulent scheme.
Dominic Lumabi sits on the computer in his Manila bedroom pitting his puffer fish-like cartoon non-fungible token (NFT) characters against others. But this is not just a game — he is earning cryptocurrency to support his family during the pandemic.
The source of his income is Axie Infinity, a blockchain-based play-to-earn game that exploded in popularity in developing nations such as the Philippines as COVID-19 destroyed jobs and forced many to stay home.
Its fans, financial backers and creators — Vietnam-based Sky Mavis — say it is a revolutionary step toward the future of the internet.
Detractors warn the game is a "house of cards", some likening it to a fraud scheme driven by hype and speculation.
"At first, I was skeptical because I thought it was a Ponzi scam," said Lumabi, 26, who began playing last June after losing his job at an advertising firm and making a failed foray into online selling.
About 35 percent of Axie Infinity traffic — and the biggest share of its 2.5 million daily active users — comes from the Philippines, where high proficiency in English, strong gaming culture and widespread smartphone usage have fuelled its popularity, Sky Mavis said.
