LET’S be honest, Axie Infinity and other NFT-based online video games are taking the world by storm right before our eyes. NFTs or Non-Fungible Tokens are digital “tokens” that represent real-world objects like art, music, in-game items and videos commonly bought and sold online. These NFTs are now being used in blockchain games like Farmers World, Splinterlands and the popular game of today, Axie Infinity. Founded by a Vietnamese studio called Sky Mavis, Axie Infinity became popular almost instantly due to its “play to earn” mechanism which made everyone curious to try. 

There has been a rapid growth of users of this game in the country, often under a “Manager” who is in charge of acquiring the axies needed for the game. “Scholars” are then in charge of playing on a daily basis and earning SLPs or Smooth Love Potion,  the tokens that can be earned as rewards to Axie Infinity players through battle or adventure mode. The take-home amount of the scholars depends on their agreement with the manager. The most common share ratio of managers and scholars are 50/50 and 60/40. 

People found this game as an “easy money” or a faster solution to all of their financial troubles. Everyone was excited when SLPs reached an all-time high of ₱20.00 last August 2021, considering how easy the gameplay was during that time. A lot of people shared their success stories online which garnered the attention of more people to be part of the game. Every payout felt like Christmas for both managers and scholars. Some even took out loans just to acquire an axie team and even left their day jobs to focus on the game. It was viewed as the better option of earning money and considerably much easier than their real-life work. 

However, it didn’t last long as the value of SLPs gradually decreased the following months,  following the dip of the bitcoin in the market. As of writing, SLPs are priced at ₱1.75, reaching their all-time low. Those who have risked a lot are taking the hit as they don’t have a backup plan during this dip in the market. Some users opted to sell their axie teams and go back to their jobs.  Developers of the game are creating updates to burn SLPs in order for the value to rise in the market. It might take a while for the market to return to how it was. Not everyone is willing to wait, most especially those who have bills to pay. More and more users might quit during this plunge in the long run. Can the developers of the game be able to bounce back remains a mystery for everybody. The unpredictability of the market became such a problem for users who have dedicated their 100% to this game. 

If there is one thing to learn about Axie Infinity and NFT-based online games, it’s that it is unpredictable. Cryptocurrency or the stock market, in general, is a volatile market that shouldn’t be treated as your only source of income. Investments like these should only be made with the money that you can afford to lose. These uncertainties are not for the fainthearted. Investments can make or break you and with that, always do your own research before involving yourself in such a market. These reminders are not to discourage you from entering this world, but only to warn you of its possible outcomes. As Axie Infinity takes the world by storm, it is up to you to either drown in the flood or hop on the waves and enjoy the ride.