The Axie Infinity game, based on non-fungible tokens (NFT) on the Ethereum network, became the salvation of a community in the Philippines, to combat poverty in the midst of the Covid-19 pandemic, guaranteeing economic income between USD 300 and USD 400 per month.
This reality was reflected in the short documentary “Play-to-Earn: NFT Gaming in the Philippines”, released on May 13, demonstrating how new technologies have become allies of low-income people.
Axie Infinity is a decentralized application where the Players breed, fight, and trade digital creatures called Axies, very similar to the theme of Pokemon, with the difference that you can win money.
Players get Small Love Potion (SLP), ERC-20 tokens and can be used to breed new digital pets. The cost of breeding starts at 100 SLP but gradually increasing, reaching 200 SLP for the second race, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Each SLP is currently valued at $ 0.19, according to CoinMarketCap.
According to a specialized media, playing Axie is no longer so profitable. The popularity of the game, plus the increase in transaction fees on the Ethereum network, led one person to enter the game you must invest USD 1,000, while in mid-2020 the entrance cost only USD 5.
The game has had 70,000 downloads worldwide. The list is headed by the Philippines, followed by Indonesia, and in Latin America, Venezuela leads the way. What these three nations have in common is the serious economic problems they face.
NFTs and videogames, a perfect match for gamers
The growth of NFTs has reached its peak during 2021 and one area that has been able to take advantage of it is that of video games.
For example, last April, CriptoNoticias reported on Elixir, a Bitcoin platform, to buy and sell collectibles that can be used to enrich the gaming experience.
Through this new market, users have the option of trading skins, weapons or characters and making transactions through the Bitcoin Lightning network. The service is already active although, at the moment, it only offers support for the Light Nite game from Satoshi’s Games.