The problem with Axie Infinity

[DunderMannen]

Seen a lot of talk about Axie Infinity and crypto games overall on here over the last few months.

Let me explain what's dumb about this, and how it's essentially a legal ponzi scheme.

Alright, so to start playing the game you need to invest money, not a small amount either, right now it would cost around 750$ to even play the game. What does that remind you of? A ponzi scheme selling educational packages or "starter kits", right?

So, you start playing, and it sure as hell isn't a fun game - it's only about making money. Now the problem with that is exactly what's stated earlier - you only play it to make money. And how do you keep making that money? More people investing. If no new people would start playing the game - it would die out and nobody would buy your axies or SLP.

To summarize: Axie Infinity is a disguised ponzi scheme, maybe without the intent of being a ponzi, but it is. Like with all ponzi schemes, yes you can make money off them, but in the long run your "investment" will be 0.

 

[RottenApple]

True.

BUT

This is just starting.

Plenty of time ahead for more people to jump in looking to replicate what early adopters are currently doing.

On top of that

Axie's prices can go down if the demand requests it in the marketplace.

On top of that.

A lot of people making money as Scholars will get in themselves.

On top of that

Ok, no more but you get the point.

Like in any other ponzi, the task is to milk it out and be lucky to leave it with the lower losses.

 

[duckduckgoo]

I will buy Axie, beacuse when other sell and think like you is time to be buy

 

[DunderMannen]

I will buy Axie, beacuse when other sell and think like you is time to be buy

Well first part is true. You should buy when others sell, but this is a ponzi scheme so it doesn't really work lol

 

[duckduckgoo]

Well first part is true. You should buy when others sell, but this is a ponzi scheme so it doesn't really work lol

Greate i make a journey if not else it will be funney

 

[JavascriptPufferfish]

Seen a lot of talk about Axie Infinity and crypto games overall on here over the last few months.

Let me explain what's dumb about this, and how it's essentially a legal ponzi scheme.

Alright, so to start playing the game you need to invest money, not a small amount either, right now it would cost around 750$ to even play the game. What does that remind you of? A ponzi scheme selling educational packages or "starter kits", right?

So, you start playing, and it sure as hell isn't a fun game - it's only about making money. Now the problem with that is exactly what's stated earlier - you only play it to make money. And how do you keep making that money? More people investing. If no new people would start playing the game - it would die out and nobody would buy your axies or SLP.

To summarize: Axie Infinity is a disguised ponzi scheme, maybe without the intent of being a ponzi, but it is. Like with all ponzi schemes, yes you can make money off them, but in the long run your "investment" will be 0.

a big part of the noise with axie is scholarships. with those, you can make 30usd a day (or more) without investing any money (just your time). that's quite a bit for lots of countries. while calling it a ponzi is debatable, even if it were, it is a ponzi where you don't need to fork money in order to make money. nothing dumb about that.

edit: the genius with scholarships is that they are perfect to spread the word about the game. they are perfect for those "MAKE 30USD A DAY PLAYING A VIDEOGAME!!!!!" youtube videos and articles. its just very very marketable.

 

[DunderMannen]

a big part of the noise with axie is scholarships. with those, you can make 30usd a day (or more) without investing any money (just your time). that's quite a bit for lots of countries. while calling it a ponzi is debatable, even if it were, it is a ponzi where you don't need to fork money in order to make money. nothing dumb about that.

edit: the genius with scholarships is that they are perfect to spread the word about the game. they are perfect for those "MAKE 30USD A DAY PLAYING A VIDEOGAME!!!!!" youtube videos and articles. its just very very marketable.

Yeah, scholarships are just a part of guerilla marketing. It's still a ponzi scheme in my eyes.

 

[luisjpm95]

On top of that.

A lot of people making money as Scholars will get in themselves.

The bad part about scholarships is that it allows other people to join the game without really making any investment to the game.

For example, my brother started by buying 3 axies / 1 account and in a month and a half, breeding his axies with those of a friend of his, they already have 15 axies / their accounts + 3 scholarships. Just by reinvesting his profit from the game.

In another month and a half, I think their number of axies will be at least of 24, if they keep reinvesting their profit from the game.

So, in other words, in 3 months my brother and his friend will have been able to give scholarships to about 7 people, all that with the contribution ($) of ONLY 2 PLAYERS.

If you keep doing the math, you will see how detrimental it can be to the economy to maintain a "reinvestment" strategy like that in the long run..... I mean, let's say 10% of the current players only reinvest and create scholarships for 6 months. After that period passes and they start making money, their earnings will be equivalent to those of 6-8 players and, along with that, they will have joined the game several people who will be cashing out money without having made any $ contribution to the economy.

Axie scholarships are a good thing in the short term (which is where we are), but they can be a burden in the medium and long term, because they dramatically increase the earnings that a single player can have making the investment of only 1 / a few account(s). Although it is likely that when most players start withdrawing money and not reinvesting, the game's profits will suffer a big drop immediately.

 

[Lincoln Rhyme]

instead we can invest and AXS and profit in short time. We are speculators

 

[callmecrist]

According to https://www.crunchbase.com/organization/axie-infinity
The Company is registered in Vietnam. Which means it is govern by Vietnamese law. And this means that anything remotely similar to gambling will be ban eventually or even MLM. My guess is that it is only a matter of time this business get shut off by the local authority unless they move their business out of Vietnam. And when that happens, this crypto will have some serious issue to handle.

 

[CPANathan]

Invest, cash out your investments and then play with the profits.

It's a proven method...

 

[ArYit]

Hmmm really ?

 

[Ndiqi]

Their server speed is rather slow, I was not able to find information on how to play the game at all from their front page…

 

[Nikolaos]

Seen a lot of talk about Axie Infinity and crypto games overall on here over the last few months.

Let me explain what's dumb about this, and how it's essentially a legal ponzi scheme.

Alright, so to start playing the game you need to invest money, not a small amount either, right now it would cost around 750$ to even play the game. What does that remind you of? A ponzi scheme selling educational packages or "starter kits", right?

So, you start playing, and it sure as hell isn't a fun game - it's only about making money. Now the problem with that is exactly what's stated earlier - you only play it to make money. And how do you keep making that money? More people investing. If no new people would start playing the game - it would die out and nobody would buy your axies or SLP.

To summarize: Axie Infinity is a disguised ponzi scheme, maybe without the intent of being a ponzi, but it is. Like with all ponzi schemes, yes you can make money off them, but in the long run your "investment" will be 0.

Axies infitiy token skyrocketed to 0.22$ then went to 0.17$. I fail to see how it's a ponzi.

 

[Nikhil Raghuvanshi]

Seen a lot of talk about Axie Infinity and crypto games overall on here over the last few months.

Let me explain what's dumb about this, and how it's essentially a legal ponzi scheme.

Alright, so to start playing the game you need to invest money, not a small amount either, right now it would cost around 750$ to even play the game. What does that remind you of? A ponzi scheme selling educational packages or "starter kits", right?

So, you start playing, and it sure as hell isn't a fun game - it's only about making money. Now the problem with that is exactly what's stated earlier - you only play it to make money. And how do you keep making that money? More people investing. If no new people would start playing the game - it would die out and nobody would buy your axies or SLP.

To summarize: Axie Infinity is a disguised ponzi scheme, maybe without the intent of being a ponzi, but it is. Like with all ponzi schemes, yes you can make money off them, but in the long run your "investment" will be 0.

New on blackhatworld and i even don't know how to use it and how to get privilages.

 

[DunderMannen]

Axies infitiy token skyrocketed to 0.22$ then went to 0.17$. I fail to see how it's a ponzi.

So if a token skyrockets then goes down a bit it's not a ponzi? lel

You know pump and dumps can still hover at the same price, right? Just the founders selling off, keeping the price low while the suckers buy in and inevitably being stuck with worthless coins.

 

[Zazagabor]

Will check axie out, first time reading about it. Would start with the scholarship. OP would you explain more on how the scholarships work ?

 

[suicidal_thought]

i have a friend that has this game, and he made 300$ till now, and on 10 august or somthing like that he will 500$

 

[Ndiqi]

I’ll probably wait until when their f2p available to check it out, I agree with OP with that requirement of owning axles to play and in a way forcing you to buy from someone else or try to get from someone else for free in exchange of labor, it’s very sketchy.

I am pretty sure people who got in and played the game wants more people to join and play the game, otherwise who’s buying their axies lol

pricing point is also madness, the lowest price for axies are about $200-$250, auction style marketplace which means can be easily manipulated…

Imma skip, best of luck to shillers

 

[AdvancedTechies]

Hmmm.. I am still interested in joining in the fun! Anyway, it's fun to make money while it lasts.