Samerson Orias began playing the crypto game Axie Infinity because of his low wages of 4000 pesos a month (around 80 dollars). However, the initial boom quickly subsided as the digital economy collapsed, after axie became a pyramid scheme paying a u.s. less than the Philippines’ minimum wage.
According to Time report, Filipino players claimed to make up to 600 dollars a month through Axie Infinity a year, given its play-to-earn model, and rewarding players with blockchains who could be traded for real pesos. The game’s economy has fluctuated despite being too expensive to invest. In the context of that story, “The Witch in the Dark” is much like Pokemon as you capture creatures that you later fight with others to get stronger, but you need one of a kind to get started.
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In the beginning, the pyramid system took shape because the price of starters got too high. Investors, known as managers, would hire “malern” to learn how to beat them. The managers would then cut the profits of 30 to 50 percent, creating a completely unregulated system. Orias was under one such scheme where he was tasked to play at around five to six hours a day while half of his earnings went to his manager.
Orias’ boss was actually in Australia, and at that time around twenty scholars under his wing had around around 20 stipendiats. He would take huge losses on all his monsters and make the grunt work easy. Trying to compile that work, Orias cooked the takoyaki from 3 am to 4 pm and then played Axie a few times.
As Axie became more popular, the real-world value of the game currency fell dramatically, so scholars began to earn less than the Philippines’ minimum wage. According to Time, several scholars reported that friends and families who helped invest in their starter monsters paid countless dollars.
In the context of the loss of value and the acquisition of new culture, many have quit the game, yet it becomes clear that it isn’t sustainable anymore.
