Is Axie Infinity a scam or is it going to infinity and beyond?

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Hi readers,

I am notorious for having a lousy internet connection. Just ask my CEO who has had countless experiences of me disconnecting and disappearing from the face of Google Meet during our one-on-one meetings.

And it’s not just work: My friends also have a lot to say about my crappy internet. They are the most vocal, especially when I’m the last man standing in Counter Strike. Recently, my slow internet connection has prevented me from doing one other thing: hopping on this rising play-to-earn game called Axie Infinity.

Today we look at,

• Can you really earn from playing Axie Infinity?
• EthAum Venture Partners’s new batch of deep-tech startups
• Other newsy highlights such as ByteDance’s founder quitting affiliated companies and Xiaomi mass hiring for engineers with expertise in the self-driving space.

PREMIUM SUMMARY

Is Axie Infinity a scam or nah?

Forget Animal Crossing, this year’s hit game is Axie Infinity, which also features adorable animals but in the form of non-fungible tokens (NFTs). The blockchain-based game is rising fast: It grew 8x from 100,000 daily average players in June to 800,000 today. While many are jumping on this play-to-earn game, another camp is questioning whether this game is too good to be true.

• Ponzi scheme? Concerned individuals have wondered if the game is actually a Ponzi scheme and exists to exploit the people living in developing countries like the Philippines.
• Newbies welcome: One reason why critics compare Axie Infinity to a Ponzi scheme could be due to its need for a constant flow of new players, which helps to ensure that its in-game currency, Smooth Love Potions (SLPs), remains valuable.
• Leveling up in progress: Deciding whether Axie Infinity is a Ponzi scheme or not relies on many factors – some of which are subjective and depend on how you view the game.. However, we can’t deny that the game is still young and has room for improvement. One upgrade that many players are looking forward to at the end of this year is the feature that allows players to own and develop virtual land.

Read more: Why Axie Infinity is no Ponzi scheme

Part one of the three-part series: Explaining Axie Infinity and its mercurial rise

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