4 ms·

The only company that has found success? Umm, that was maybe true in 2012. Might want to check again. For example: * Axie Infinity (https://www.notboring.co/p

The only company that has found success? Umm, that was maybe true in 2012. Might want to check again. For example: * Axie Infinity (https://www.notboring.co/p/infinity-revenue-infinity-possibilities https://www.notboring.co/p/infinity-revenue-infinity-possibi...) But there are many.

pavel_lishin 5y ago
The one example you cite has been called out as a ponzi scheme elsewhere: https://news.ycombinator.com/item?id=29245147 https://news.ycombinator.com/item?id=29245147
- Jonovono 5y ago
  Thanks, ill look into it some more. I trust Not Boring but something could be up. tbh tho, people still call bitcoin a ponzi scheme. None the less, there are definetily more profitable companies in the space besides just Coinbase ;p
moritonal 5y ago
Bloody hell... "Scores of people in the Philippines and Vietnam have quit their jobs and make a better living playing Axie for hours every day. They earn Smooth Love Potion (SLP), a token earned through Axie gameplay that can be exchanged for fiat, which in turn can be used to pay for food, shelter, medical bills, and all of the other things needed to survive. Some people who were previously making $5 per day now make $20."
- dpark 5y ago
  > To start playing, you need three Axies. You can acquire Axies in the Marketplace, where the cheapest of the 99,323 available is going for 0.1 ETH, or $195. Something is fishy. Where do people making $5/day get $600 to buy into dumb game? This is nearly half a year worth of income to gamble on this thing. If this is actually happening, it’s sad. Lots of games have had grinding farms in developing nations and in that respect, this seems no different except that is branded with “crypto” and “nft” and somehow that’s supposed to make it different, while in reality it just seems to make it more complex. But mostly it seems insane that the buy in is $600. I look forward to hearing the stories of indentured servants in developing nations being forced to play this game to pay back their buy-in debt.
  - taylorfinley 5y ago
    I interviewed a candidate in Manilla a month ago, he had purchased Axie pretty early on when it was a lot more affordable to get started. He has a great job in IT support, so he lends his Axies to his dad and brother and they work it like a full-time job. His dad plays pretty much all day and his brother plays all night. He said many of his friends similarly got in early and lend their tokens out to friends and family. If you think about it, your numbers make perfect sense--would you stake half your annual salary to quadruple it? I would!
    - dpark 5y ago
      > would you stake half your annual salary to quadruple it Fuck no. I would not allocate half a year’s salary on a gamble. Indeed since this article was written, Axie tokens tanked.

pavel_lishin 5y ago

The one example you cite has been called out as a ponzi scheme elsewhere: https://news.ycombinator.com/item?id=29245147 https://news.ycombinator.com/item?id=29245147

Jonovono 5y ago
Thanks, ill look into it some more. I trust Not Boring but something could be up. tbh tho, people still call bitcoin a ponzi scheme. None the less, there are definetily more profitable companies in the space besides just Coinbase ;p

moritonal 5y ago

Bloody hell... "Scores of people in the Philippines and Vietnam have quit their jobs and make a better living playing Axie for hours every day. They earn Smooth Love Potion (SLP), a token earned through Axie gameplay that can be exchanged for fiat, which in turn can be used to pay for food, shelter, medical bills, and all of the other things needed to survive. Some people who were previously making $5 per day now make $20."

dpark 5y ago
> To start playing, you need three Axies. You can acquire Axies in the Marketplace, where the cheapest of the 99,323 available is going for 0.1 ETH, or $195. Something is fishy. Where do people making $5/day get $600 to buy into dumb game? This is nearly half a year worth of income to gamble on this thing. If this is actually happening, it’s sad. Lots of games have had grinding farms in developing nations and in that respect, this seems no different except that is branded with “crypto” and “nft” and somehow that’s supposed to make it different, while in reality it just seems to make it more complex. But mostly it seems insane that the buy in is $600. I look forward to hearing the stories of indentured servants in developing nations being forced to play this game to pay back their buy-in debt.
- taylorfinley 5y ago
  I interviewed a candidate in Manilla a month ago, he had purchased Axie pretty early on when it was a lot more affordable to get started. He has a great job in IT support, so he lends his Axies to his dad and brother and they work it like a full-time job. His dad plays pretty much all day and his brother plays all night. He said many of his friends similarly got in early and lend their tokens out to friends and family. If you think about it, your numbers make perfect sense--would you stake half your annual salary to quadruple it? I would!
  - dpark 5y ago
    > would you stake half your annual salary to quadruple it Fuck no. I would not allocate half a year’s salary on a gamble. Indeed since this article was written, Axie tokens tanked.