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> All the money comes from later entrants, so it's a Ponzi by definition. Axie is not a Ponzi scheme, but is definitely a pyramid scheme (via their scholarship
by dvt 5y ago
> All the money comes from later entrants, so it's a Ponzi by definition.
Axie is not a Ponzi scheme, but is definitely a pyramid scheme (via their scholarships).
- jazzyjackson 5y agoPyramid is money flows up a hierarchy, Ponzi is money flows from new participants to old participants, in practice there is barely a distinction. The price of the Axie coin is only supported by new buyers (by definition) and coins being sold are nothing more than early adopters cashing out. Any crypto "going to the moon" has this dynamic, coins being sold at 10,000% ROI is ponzi, early adopter paid by a late adopter, the person who bought at the top has already lost their money. I guess Axie may be both, since there is also a multi-level dynamic.
- danbolt 5y agoWatching the gameplay trailer, I was flabbergasted when they were straight-up said "you can rent out your ingame items to make money!" meanwhile barely expressing the hook for the gameplay. People talk about power fantasies in games, but I never thought that would extend to being a landlord.