Comment by jakemal
4 years ago
> It sounds more like a Ponzi scheme in a Gold farming disguise to me.
I would agree with this if the primary income stream came directly from the increase in value of Axies as the game attracted more users. From my understanding, the income comes from acquiring and selling in-game currency rather than from the Axies themselves.
Is this a bullshit job? Maybe. Ponzi scheme? I don't think so.
If people are working this bullshit job, it means that this bullshit job is better than their alternatives. I'm not convinced the existence of these kinds of games is a net-negative.
The in-game currency's purpose is to breed new Axies though. If there wasn't increasing demand for Axies, SLP would be worthless.
Is that the only use of the currency or just one possible use?
What ends up happening is the smooth love potion becomes used as transactional currency in Philippines besides being a game currency to purchase Axies. This is not going to be what the government wants and who knows what can happen next, but as you see this automatically gives people a way to transact digitally by using the underlying infrastructure without a fintech company
however price of smooth love potion has been on a downtrend according to the chart https://www.coingecko.com/en/coins/smooth-love-potion
the hype is over, and players are mainly selling every tokens they earned whether from the game or through transaction
I have not played Axie Infinity, but to the best of my knowledge that is the only use of Smooth Love Potions.